Lemonjuice Brings Creative Management to Aging Timeshare Resorts
Learn how one company is providing creative management solutions to revive legacy resorts.
Far beyond the scope of a traditional resort management firm, Lemonjuice Capital and Solutions (LJS) is a true solutions company. After successfully managing a dozen legacy HOAs, representing approximately 25,000 timeshare owners, the company’s property management expertise is bringing a fresh perspective to the industry it serves.
Since its launch in 2016, Lemonjuice has gained national respect as the leader in reimagining older timeshare resorts. Through their innovative Resorts ReimaginedTM program, LJS has assisted owners and associations at aging resorts by providing pathways to help them unlock the value of their properties. After their investment of more than $22 million at Legacy resorts in Florida, Maryland, South Carolina, and Texas, LJS has successfully repositioned multiple financially strapped properties.
As a managing partner, LJS strengthens rental programs, improves hospitality, provides innovative property management software, and determines the best paths to enhance the guests’ vacation experience. They suggest specialized solutions that fit the resort’s needs without taking a cookie-cutter approach and recognize excellence in professional association management requires a depth of skills, creativity, and often a capital commitment to best reposition and improve an aging property.
Through the leadership of founder and CEO, Alex Krakovsky, and EVP and COO Scott MacGregor, the duo has leveraged decades of timeshare, real
estate, and investment professionals to revitalize older or distressed properties.
Excellence in Management
“With an incredibly strong management background, Lemonjuice is unsurpassed in its ability to work through the maze of details required to create financial viability,” says Richard Winkler, General Counsel of LJS. “Our executive team has more than 125 years of combined experience in the timeshare and related industries, and we have proven success stories in the restructuring of financially troubled Legacy Resorts. Frankly, our deeding and title evaluation capability and database system are the envy of every company in the timeshare business and even law firms that do similar work.”
Adds Scott MacGregor, “Using an owner-centric approach, Lemonjuice aligns its interests with the resorts we serve as we strive to create the most positive outcome for the greater good of owners, managers, and all stakeholders. We ‘tell it like it is’ and present the best solutions. One of our core competencies is unlocking each resort’s value for the good of the owners, often backed by our own capital infusion in order to create successful outcomes. Placing our owners first and fulfilling their needs is the driving force that has shaped our success.”
Continues Scott, “We have provided resources and perspectives far beyond traditional management to enable HOAs and Boards to fulfill their fiduciary responsibilities to owners. In partnerships with resort boards, owners of the resort are always in the driver’s seat to help decide the best pathways.
The Doctor Is In
As they are invited to visit resorts or properties in search of a management team with the highest of standards– the Lemonjuice team is agile in their approach to expertly heal what has been broken over the years. Navigating the challenges from aging infrastructure, owner attrition, and clouded titles, LJS combines proven best practices with innovation and forward-thinking. Curing an unhealthy property involves many levels of treatment and follow-up care. This requires a combination of evaluations, cash infusions, and sound solutions that benefit the resort and its owners.
Working closely with Boards and the resort’s management team, Lemonjuice makes recommendations for the future based on an in-depth analysis of each situation and listening to what the owner base wants. They are passionate about treating owners fairly and with dignity while helping to facilitate the delivery on promises that may have been made at the time of purchase. It is always the Board that determines the final decision on recommendations with LJS then working at the Board’s discretion to implement and execute their decisions.
Rentals Not Enough
While many resorts have robust rental programs, the revenue generated is often inadequate to operate the property, even at popular coastal beachfront vacation destinations. Boards recognize that more needs to be done, but often don’t know where to turn. Selling or leasing Legacy Resort inventory and competing with branded timeshare developers is an uphill climb for most associations. Finding a reputable, integrity-filled third-party sales company with the skills to sell weeks at a rate to keep up with owner attrition and compete with the brands is almost impossible. Lemonjuice has impressive multi-targeted rental capabilities and strong relationships with reputable sales companies. Often, after all, possibilities for resolving a problem have been exhausted, only ‘out-of-the-box’ thinking can and will make a difference. This is where Lemonjuice sets itself apart from all other businesses in the industry.
Capital Improvements
As part of their management services, Lemonjuice does not depend on third-party lenders to bring cash to the table when investing capital. They invest their own money, fronting the costs at no risk to the association. “Often a resort may need capital for improvements they have been putting off,” says Jeff Ingram, Senior VP of Real Estate & Development for Lemonjuice. “We review each situation and find non-traditional solutions to make our investment pay off while simultaneously providing help the association desperately needs.”
As they continue to break the Legacy Resorts ReimaginedTM sound barrier, Lemonjuice is soaring even higher as more Boards recognize the unparalleled opportunity Lemonjuice management provides in helping them manage and reimagine their resorts.
To learn more about Lemonjuice, contact Jan Barrow at 863-202-8804 or by email at [email protected]. or visit Lemonjuicesolutions.com
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