Vacatia Partner Services Offers Innovative New Model to Finance Renovations at Legacy Resorts
Vacatia Partner Services, a leading provider of innovative, customer-centric solutions for timeshare resorts, has introduced an innovative new financing solution to assist resorts with needed renovations. Through a partnership with Glacier Creek Capital, VPS can help bring legacy resorts back from the brink. “Although we have multiple products and services, this is the service I’m most excited about,” says Grant Miller, VPS’s Head of Growth. “Through them, we offer a revolutionary — and I don’t use that term lightly — a form of financing for HOAs. They can qualify for up to $20 million to improve units and amenities. With these funds, resorts can get back to a level of quality that creates a great vacation experience for families. We think this will be extremely important to the future of many legacy resorts.”
Under the new model, instead of resorting to a special assessment, resorts can use defaulted inventory as collateral. “Glacier Creek Capital’s experienced team uses a data-driven approach to help resorts determine the renovation’s parameters and generate maximum return on investment,” Miller says. “They can even provide a complete project management team to lead the renovation and provide access to discounted purchasing services.”
According to Seth Metsker, Glacier Creek’s Co-founder and Head of Real Estate and Credit, what makes this offering different is they partner with HOAs, providing them with the funds to do all the needed improvements at once, along with the expertise to do it right. “Often, we see properties that really haven’t been touched in 20 years,” he says. “We focus on improving and updating the property to bring it as close to current as possible, which will improve the owner experience, attract new rental revenue, and, eventually, a new stream of owners. With our program, we’re looking at the property’s future potential, not just past performance. We have a creative approach that recognizes that once renovations are complete, the revenue streams will look completely different.”
Glacier Creek can provide a turnkey solution that includes contractors, designers, and other professionals who ensure that the renovations deliver maximum value. “Our background is in real estate development as well as hospitality, so we can see exactly where the potential is and how to achieve it.” Metsker says. “We’re not just writing a check and moving on; we have a three- to five-year financing product that’s based on our being an active partner to really drive results.”
While resorts are not required to use Glacier Creek’s roster of professional services, all contractors must be vetted to ensure they are qualified for the project. “Because of our national volume, resorts have access to get better pricing, so they save money on the overall project,” Metsker says. “We focus on renovations that position the resort to drive long-term owner value. We can help them determine where they’ll get the biggest bang for the buck.”
“What makes this perfect is that Glacier Creek is not just a financing partner, they actually understand property management and what draws owners and rental guests,” Miller adds.
The new financing model is just one of the fresh solutions offered by VPS, which has 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. Their products are designed to drive owner engagement, improve cash flow, attract new members and even finance needed property renovations. To learn more about VPS’s rental, resale, membership and property management services, and how they are reinventing the timeshare experience across discovery, booking, and stay, call (720) 449-6738 or visit vacatiapartnerservices.com.
