TBMA 2022 Insights survey results show that resorts are implementing strategic rental, resale, and other programs to boost revenue, while others are planning or proactively searching for program options to bolster their budgets and offset budget shortfalls:
California: “We are drowning in deedbacks and need to monetize that inventory. Board members should be careful about bulk buyers taking control of the board.”
Colorado: “The owners’ association recently implemented a nightly rental program through Airbnb for all of the available inventory, and that is working very well and generating much needed revenue. The resort is in a popular tourism area of Colorado and demand is high for nightly rental properties. The owners’ association is planning to reduce its inventory of 53 timeshare units by starting to sell units as “whole” units. We’re still in the early stages of this big project.”
Hawaii: “We have a program for units that are no longer collecting maintenance fees to rent available days, and this program has improved each year. This has really improved our overall revenue.”
New Hampshire: “As our membership declines, we are finding new ways to increase other revenue streams effectively: function rentals, long-term stays, and overnight general lodging.”
North Carolina: “We have an aggressive rental policy which in 2021 enabled the association to realize net rental income equivalent to 4.2 percent of owners’ maintenance fees. Our owners’ association inventory is approaching nine percent of total intervals. In addition to an active rental program, we are stepping up a sales program, and are examining a points product.”
South Carolina: “Owners’ association inventory in the winter weeks is open for a special rental rate. The idea is to advertise our resort as a year-round vacation destination. The recent move to businesses allowing remote work by employees is used to entice people to work at the beach.”
Wisconsin: “We have morphed from totally timeshare to peak-season timeshare and off-season more like a hotel with minimum three-day stays.”
Wisconsin: “We rent our inventory to transient guests with a two-to-five-night minimum, depending on the season or event. We use online travel agencies and, despite an occasional glitch, we’re doing well. We are researching building a couple more lakefront units to further monetize our lake amenity.”
| Survey Feedback and Upcoming TBMA Insights meetings TBMA appreciates the participation of our association members in this survey, and their invaluable feedback is now the platform for two TBMA 2022 Insights meetings: • August 2, 2022, in Providence, RI. • October 24, 2022, in Las Vegas, NV. Timeshare board members and onsite resort managers are invited to register for these one-day forum discussion and networking events on the tbmassoc.org website. |
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