When Vacatia was founded in 2012, the company’s founders brought a unique vision that reimagined timeshare resales and rentals. It has since become a leading provider of innovative, customer-centric solutions for timeshare resorts with 750 industry partners, including some of the largest timeshare companies, relying on it for rental and resale services. In addition, Vacatia has grown its property management services with 12 homeowner associations in 6 states representing more than 25,000 timeshare owners.
Today, Vacatia is applying that same level of innovation to the most vexing problems facing legacy timeshare resorts. Its newest venture, Vacatia Partner Services, is dedicated to the success and growth of legacy resorts and their vibrant owner communities. “I’ve assembled an all-star team of experienced resort industry executives who understand the past, present, and future of the vacation ownership industry,” says Caroline Shin, Vacatia’s CEO, and co-founder. “They can offer products and services that drive owner engagement, improve cash flow, attract new members and even finance needed property renovations.”
The VPS team begins by assessing each resort’s unique challenges and then recommending customized solutions on an a la carte basis to address them. Even better, because VPS understands just how difficult times have become for many resorts, many of its services don’t require up-front costs before they create new revenue streams.
VPS’s rental solution allows legacy resorts to compete with the biggest brands while generating optimized revenue per available room (RevPAR) and guaranteed results, far surpassing their previous results. Vacatia’s founders were the technology pioneers behind some of the most successful e-commerce sites (Hotwire.com) and hotel revenue management (Starwood’s loyalty and rental programs for thousands of hotels).
According to VPS executives, this assistance is sorely needed. “Although some resorts have invested in technology to improve bookings, many others haven’t, which means they’re not reaching their full income potential,” says Greg Eure, Head of Development.
To bolster his assertion, Eure cites VPS’s success at Crown Resorts at The Poconos in Drums, Pennsylvania. Prior to VPS’s assumption of the property’s management contract in 2020, pre-pandemic annual rental revenues were around $20K. For 2021, rental revenues are projected to exceed $550K. For the entire Crown Resorts system, VPS has increased rental revenue by 388% from pre-pandemic levels, delighting both the HOA and individual owners who placed weeks in the rental pool.
Another solution that VPS executives predict will prove popular with legacy resorts is the ability to finance renovations without special assessments. Through VPS’s partnership with Glacier Creek Capital, resorts can use defaulted inventory as collateral. After renovations are complete, they can again offer a high-quality product that drives owner satisfaction while generating increased rental revenue and attracting new owners. “Glacier Creek Capital’s experienced team will use a data-driven approach to help your resort determine the renovation’s parameters and generate maximum return on investment,” explains Grant Miller, Head of Growth. “They can even provide a complete project management team to lead the renovation and provide access to discounted purchasing services.”
VPS’s innovative membership products tailored to the needs of modern travelers allow resorts to generate incremental income to pay maintenance fees on defaulted interests and increase the average length of stay. “VPS’s flexible, subscription-based model provides consumers with access to a wide array of discounted travel products and reinforces the value of residence-style accommodations,” says Michelle DuChamp, Head of Membership. “Customers today want a choice. Now they can continue to rent or subscribe to annual programs with better value, flexibility, and access to meet their travel needs while also introducing them to the benefits of timeshare ownership. Our technology makes it easy, transparent, and fun for our customers to plan their vacations in a manner they prefer.”
VPS also provides a true resale solution for resorts and their owners, one that comes without the upfront fees and headaches that can generate dissatisfaction with vacation ownership overall. Vacatia already provides this solution to many leading resort developers and is now making it available to legacy resorts that desire to create a safe haven for their owners who need an exit strategy.
For resorts that want a one-stop solution, VPS’s property management services tackle the labor shortages, complex regulations, and operational challenges of managing vacation ownership resorts. “VPS can partner with your homeowner association to ensure long-term vitality and care for the resort and owners, using their technology and hospitality backgrounds to enhance the customer experience at every touchpoint,” Miller says. Plus, VPS’s property management solutions include all the products and services mentioned above, reinventing the timeshare experience across discovery, booking, and stay.
To learn more about VPS’s innovative solutions for legacy resorts, call (720) 449-6738.