Crying at a Denny’s—The Personal Importance of Timeshare

The Personal Importance of Timeshare

When ARDA, the association representing the timeshare industry, held its annual convention this spring, everyone was very enthusiastic about “Micro sessions.” These rapid-fire presentations focused on issues within the vacation ownership industry. Selected service providers shared solutions to many of these challenges.

Two of my favorite clients (well, full transparency, all my clients are my favorites) discussed the viability of repurposing a legacy resort. Bill Ryczek, RRP, Principal Partner/Colebrook Financial and Joe Takacs, CEO/MVP, a Takacs Company discussed a hot topic in the industry these days:

Repurposing a resort is not one size fits all.

 Colebrook Financial specializes in providing financing for the timeshare industry and offers a variety of facilities in amounts ranging from $100,000 to $30 million+. Their innovative approach to financing includes consideration for clients like MVP, a Takacs Company, which has more than 50 years of combined experience in timeshare sales, management, and customer service.

The two discussed the unique challenges of repurposing a legacy resort and how to select an ally to assess the best solutions and ensure the best outcome.

With Bill posing intelligent questions, and Joe, who is known as being rather loquacious, responding, the audience was privy to Joe’s thorough understanding and expertise in this arena. I was amazed that within 15 minutes Joe sorted through the myriad factors to consider, suggestions on how to work with the HOA Board, the nightmare of Title issues and costs involved.

What really got to me was Joe’s description of a timeshare owner who he met at a Denny’s to give him his check. The guy cried. He cried because he loved his timeshare. He cried because he had so many happy memories of his family on their timeshare vacation. He cried because he was going to miss his timeshare and he cried because—after Joe and his MVP worked their magic– he got a check for nearly $8000. MVP was also able to move the owner to another resort seamlessly so that he could continue on enjoying timesharing the way it was meant to be.

Timeshare is a great product. Strategic solutions to accommodate the changing ownership base come in many forms. A company like MVP looks at all the options with the HOA Board and implements plans that will work for everyone.