TS Today - Creating a Vision for the Future of Vacation Ownership Issue #142, Jul/Aug 2015 | Page 34

TimeSharing Today

Page 34

5 Elements of a
SUCCESSFUL
Timeshare Resort
BUDGETING

$

Jul/Aug, 2015

The Value Proposition and
Owners’ Feedback
A resort should strive to reinforce its owners’ perception of the
value of their timeshares, several experts presenting at TBMA advised.
.HQ0F.HOYH\FKDLUPDQDQGFKLHIH[HFXWLYHRI¿FHURI'HIHQGHU
Resorts, Inc., in Myrtle Beach, SC, and David Wolf, board president
at The Ponds at Foxhollow in Lenox, MA, displayed and discussed a
series of letters they use to communicate with owners.
Included were a welcome letter Defender sends whenever a timeshare changes hands, Foxhollow’s forms for reassigning leases, bankruptcy letters, letters explaining requirements for a deedback, and a
letter asking about the status of a deceased owner’s week.

ers

HOSPITALITY

n
Ow

COMMUNICATIONS

py
Hap

Happ
y

Owne
rs

Ways to Make Money

OPERATIONS

MAINTENANCE

SPM Resorts, Inc.’s goal is to make
owners happy. Owners are happy when their
resort is well managed, they are greeted
with friendly staff, and units are consistently
updated. Happy owners pay maintenance
fees, the lifeblood of an Association, which
allows the Association to continue to
improve the resort. Learn more about our
Board-focused approach to managing
resorts on our website or reach out to
Hatton Gravely, VP of Development, for an
overview of our management services.
Hatton Gravely, [phone] or
[e-mail].
www.SPMRESORTS.com

Paul D. Goodrich, regional vice president of operations for SPM
Resorts, Inc., in Myrtle Beach, explored onsite revenue generators that
resorts can use to supplement their maintenance-fee revenues. Before
pursuing these activities, he advised, a resort should review its docuPHQWVIRUFRPSDWLELOLW\FKHFNORFDODQGVWDWHODZVH[SORUH¿QDQFLDO
and tax issues, and ensure that expenses won’t exceed the revenues.
Income-producing ideas Goodrich listed included rental of
association-owned and delinquent owners’ weeks, sale of associationowned weeks, activities programs, ticket sales, retail and vendingPDFKLQHVDOHVVHOOLQJORFDOPHPEHUVKLSVDWWKHUHVRUW¶V¿WQHVVFHQWHU
and pool, renting unused space to businesses, resort bonus-time
programs, and charging fees for upgrades.
He also listed some ideas that have proven unpopular: amenities
IHHVVRPHWLPHVFDOOHGUHVRUWIHHVXWLOLW\VXUFKDUJHVDQG¿WQHVVFHQter, spa, and pool charges.

Ask the Right Questions
“If you measure it, you can manage it,” declared Robert A.
.REHN SUHVLGHQW DQG FKLHI H[HFXWLYH RI¿FHU RI 0RELXV 9HQGRU
Partners and CustomerCount.
He explained how to use customizable surveys to collect feedback on the owner/guest experience, and apply that information to
create actionable goals leading to increased revenues and greater customer satisfaction. By knowing what its customers want, a resort can
prioritize its spending to respond to those wants, he said.
Kobek emphasized that surveys must be carefully designed to
yield meaningful results. “Survey data collected for the sake of collecting is a mere pile of data,” he said. “Survey data, when the proper
steps are taken, is the key to customer satisfaction.”

www.tstoday.com for back issues, Resort Report Cards, articles on resorts and much more