As the economy contracts and more people look for ways to save money wherever they can, many are discovering that the disadvantages of the timeshare they purchased when times were flush are an even a greater burden as the economy rolls into a downturn.

Unloading a timeshare property, especially as a recession looms, can seem like an impossible feat. While it's certainly not an easy task, there are ways to sell or get rid of a timeshare for those determined to do so.

The first issue you'll encounter is determined by whether you still owe money on a timeshare loan. If you do, you aren't going to be able to sell the property. No matter how much you hope and wish that someone will take over the loan for you, it isn't going to happen. If you want to get rid of the property, you'll have to first figure out a way to pay off the debt.

The next step is to determine if you want to try to recoup some of your money, and if so, how much. Unfortunately, you are going to end up losing a lot of money, especially if you bought the timeshare directly from the resort. Many Web sites estimate that timeshares resold on the secondary market will sell for 50% or less of the original price; and with the economy in poor condition, you should not be surprised to have to sell for a loss of more than an 80% on the original value.

With so many more people trying to sell timeshares vs. those looking to buy, coming to accept that you will lose a lot of money is a major factor between a quick sale and having the timeshare remain unsold.

Here are six possible ways to unload your timeshare.

Use the Internet: There are a number of sites on the Internet that specialize in selling timeshares. Most charge a fee to list a timeshare for sale, but your best chance of selling your timeshare doesn't cost a dime. The Tug Timeshare User Group has a large base of members that are all interested in timeshares. If you want to sell your timeshare, this may be your best online opportunity to do so. The listings are free.

Sell on eBay: Another option is to list your timeshare on e
Bay.com. The auction Web site features a how-to section on selling timeshares.
Donate to charity: If you have reached a point at which your main goal is to get rid of the timeshare and the fees that go along with it, you might consider donating your timeshare to charity.

Unfortunately, donating is not as simple as it might seem. Charities that do accept timeshare donations are well versed in knowing which properties they can resell and which ones they will have a difficult time reselling. If a charity believes it'll have a problem reselling your property, it likely won't accept the donation. After all, the charity has just as much interest as you do in being stuck with maintenance fees.

Donating to a charity is worth a try if you need to unload. Doing so has its advantages because a lot of the work involved in getting rid of the property is turned over to the charity, meaning you avoid the hassle. Many times the donation will also qualify as a tax deductible donation, but don't expect to be able to deduct the full value of the timeshare off your taxes. In this case, you will only be able to deduct what the charity sells the timeshare for which will likely be a fraction of that price.

Find a real estate agent: One of the first rules when selling a timeshare is that you don't want to give money upfront to someone to sell the property. There are a lot of people out there that prey on folks in desperate need to get rid of their timeshare. These people know exactly what you want to hear, and they will make a lot of promises that they will not keep to get you to part with your money upfront. If they require an upfront fee to sell your timeshare, you should pass.

Instead, try to find a real estate agent that gets paid on commission when the sale closes. It's important to realize that many real estate agents don't like marketing timeshares because they are so difficult to sell. In order to get someone to represent you, you may have to give the agent a big incentive like a set fee (rather than a percentage of the sale) or a greater-than-normal percentage of the price once the sale closes. Be flexible and make it worth the agent's time to sell your timeshare.

eBay is also a great place to research what your timeshare may truly be worth. Search for timeshares at your resort or a similar resort to see what they have been selling for. This research will give you a good idea of what you can expect to receive for your unit. Also spend some time going through the listings of those timeshares that have sold and make notes of what you liked in the listing. There are a lot of timeshares on the market, so making your auction stand out will help to sell it.

List in local papers: The people that will be most interested in buying a timeshare will be those that visit the area where the timeshare is located. The best chance of reaching these vacationers is to advertise in the local tourist magazine or newspaper. Along the same lines, putting up notices where the timeshare is located and in areas where tourists are likely to frequent can be a good way to generate some sale leads.

Give it back: One big shock some timeshare owners face comes when they hit the point at which they just want to get rid of their timeshare and don't care if they get any money for it. Many have found that the timeshare resort often won't even take the timeshare back for free. Why? The timeshare resort knows it'll have just as much trouble selling the unit as you, and it would rather continue to collect your maintenance fees than take back the timeshare.

Still, trying to hand back a timeshare property for a complete loss can be worth a try when owning the property becomes onerous. There are some things you can do to make the timeshare resort more willing to take it back.

If the timeshare resort refuses to take your unit back when you first offer, explain to them it will be in their best financial interest to do so. They may play hardball, and you may have to do the same. While you shouldn't do anything illegal, you do have the right to use every legal persuasion. You need to convince the business that it's not in their best interest to have you continue to pay the fees.

If the resort has bulletin boards, post fliers advertising your unit at a deeply discounted price. Resorts don't like to see these ads because it makes the resort look like its units are worth much less than what they are charging. Sit out on the public street in front of the resort with a huge sign advertising your unit (or pay someone to do it).

Again, it's hard for a resort to make sales when potential customers see that they can get the units for a lot less. Because it's a business, a resort may be willing to concede and take back your property if you become enough of a pain that the resort determines it stands to lose more money in lost sales than it will make off your fees.

While it is not easy to sell a timeshare, it's also not impossible.

It will take time, determination and a willingness to realize that you will lose money (mark it up as a financial lesson), but with a bit of hard work you can get those maintenance payments off your budget and free up the money for more important financial needs.

http://www.thestreet.com/story/10444874/1/ways-to-escape-the-timeshare-trap.html

NEW YORK, Oct 30 (Reuters) - Hotel and timeshare company Wyndham Worldwide Corp (WYN.N: Quote, Profile, Research, Stock Buzz) said on Thursday that third-quarter profit rose 21 percent despite a slowing U.S. economy, but warned that the fourth quarter might be tougher.

Wyndham's shares, which have fallen from over $33 a year ago, rose more than 16 percent to $8.30 on Thursday morning.

The company serves primarily U.S. leisure travelers through its timeshare businesses and economy hotel chains.

Wyndham, which operates brands such as Ramada, Days Inn and Super 8, said net income rose to $142 million, or 80 cents a share, from $117 or 65 cents a year earlier.

Adjusted net income, excluding $6 million in one-time items, was $148 million, or 83 cents a share.

Revenue rose 1 percent to $1.2 billion.

Analysts on average expected earnings of 80 cents a share and revenue of $1.27 billion, according to Reuters Estimates.

"Wyndham's timeshare business showed surprising strength -- it was a decent quarter given the operating environment," said Jeremy Glaser, hotels analyst at Morningstar.

Wyndham's revenue per available room (RevPAR), a key industry measure, decreased 2.7 percent in the third quarter, reflecting declines of 4.2 percent and 1.7 percent respectively in domestic and international markets.

UNCERTAIN OUTLOOK

For fourth-quarter 2008, Wyndham expects adjusted earnings per share of 41 cents to 46 cents, below the 50 cents a share that analysts had been expecting.

"We are still expecting a difficult fourth quarter for the travel industry," said Wyndham Chief Executive Stephen Holmes in an interview.

Asked about leisure travel trends amid the economic slowdown, Holmes said customers are still traveling but more people are booking their trips at the last minute and some are cutting the length of their stays.

For full-year 2008, Wyndham expects revenues of $4.36 billion to $4.41 billion and adjusted earnings per share of $2.12 to $2.17, below the revenue of $4.5 billion and earnings of $2.19 a share that analysts had been expecting.

For full-year 2009, Wyndham forecasts revenues of about $4.1 billion to $4.5 billion, while analysts had been expecting $4.45 billion. (Reporting by Mark McSherry, editing by Dave Zimmerman)

http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN2934535820081030?sp=true

Delta Air Lines Inc. and Northwest Airlines have officially merged after gaining approval from the U.S. Department of Justice.

The combined airline will be based in Atlanta and retain the Delta name, with Northwest temporarily becoming a wholly owned subsidiary of Delta known as NWA Inc.

Delta (NYSE: DAL) and Northwest announced plans to merge in April. The deal creates the world’s largest airline. Northwest is the third-largest carrier at Milwaukee's General Mitchell International Airport and is a passive minority owner of Midwest Air Group Inc., the Oak Creek-based operator of Mitchell's top airline Midwest Airlines.

The new Delta has about 75,000 worldwide employees.

As approved by both companies’ stockholders earlier this year, Northwest stockholders will receive 1.25 Delta shares for each Northwest share they own. Based on Delta’s closing stock price Wednesday, this exchange ratio is the equivalent of $9.99 per Northwest common share.

Both Delta and Northwest are among the carriers that serve Pittsburgh International Airport.

http://www.bizjournals.com/pittsburgh/stories/2008/10/27/daily34.html

As far as commercial aviation goes, the recession is already starting to bite.

The International Air Transport Association (IATA), the body that represents most of the world's airlines, says that traffic declined 2.9 percent year over year in September, and doesn't see the situation getting better anytime soon. "It's the first monthly drop we've had since the 2003 SARS crisis," Steve Lott of the IATA told Wired.com. "And it's happening across all markets simultaneously. That's concerning to us."

IATA says that revenue passenger kilometers (RPKs), a standard metric used to measure airline traffic, dropped in every region around the world excluding Latin America. Load factor, the percentage of seats filled, dropped 4.4 percent. Lott says that although airlines dramatically cut capacity this year to cope with oil prices, the strategy doesn't seem to be filling planes as hoped. "In the US especially, airlines were extremely aggressive in cutting capacity," he says. But it seems like this has been insufficient."

"The deterioration in traffic is alarmingly fast paced and and widespread," said IATA's CEO Giovanni Bisignani after the September numbers were released. "Even the good news that the oil price has fallen to half its July peak is not enough to offset the impact of the drop in demand."

There are several elements of the current slowdown that have the IATA really freaked out. One is the timing of the numbers. They show that demand began weakening a full month before the brunt of the credit and stock market fiascos, and IATA anticipates that traffic will tumble further as the full impact of these events is felt.

Lott says a 7.7 percent decrease in year over year cargo traffic is also a big worry. "Cargo is seen as a bit of a leading indicator, especially in Asia," he says. "Weakness in cargo doesn't bode well for the larger economy."

He adds that IATA currently is projecting a 2009 industry loss of $4.1 billion, but that it will revise that number in December based on market conditions.

Interestingly, US airlines seem more optimistic about their prospects, at least in the short term. Delta, AirTrain and others are reporting strong holiday bookings, and expect fuller flights thanks to capacity cuts earlier this year.

But Lott doesn't see all that much to be cheerful about. "The next few months are going to be tough," he says. "We're in for a rough ride."

http://blog.wired.com/cars/2008/10/international-a.html

Bargain holidays boom despite credit crunch crisis.

As the credit crunch crisis continues, we find that a lot of people are refusing to let their holiday time be affected. Many are finding ways to continue to holiday, whilst just making a few subtle changes.

Hostels, coach holidays and cheap destinations are relishing in the boom of the credit crunch, as most people are downgrading their travel plans for cheaper alternatives.

Skiweekends.com has reported a 150% increase on bookings from the same time last year and has increased capacity by 40%. It is running coaches to two new resorts, Chamonix and Zermatt and the managing director has confirmed “we are quite simply having the best season we’ve ever had”. Prices start at £179 for a 3 day weekend and £239 for a week.

Hostels are also experiencing a boom, with Hostelbookers.com confirming an 83% increase on bookings from last year. Meanwhile, the Post Office has reported significant increases in foreign currency for cheaper destinations such as Egypt. Sales of Egyptian pounds were up 50% in September 2008.

At the other end of the market, the downturn is already taking effect. British Airways says the number of first and business class passengers it carried last month was down 8.6 per cent on the previous year. Ryanair, by contrast, reported a 20 per cent rise.*

Travel and Leisure Analyst Andrew Fitchie, “the companies say that no matter how bad things get, people will always keep their main holiday, but they might cut their second and short breaks, which I think is true but you will also see people trading down. Were not necessarily looking over a cliff edge, but we are heading into unchartered territory”

Most ski companies have some protection against any potential slumps, because the most profitable weeks are traditionally booked up a year in advance. Many are now reporting that January holidays, traditionally the hardest to sell, ad so the cheapest, are now proving to be one of the most popular. Therefore if lots of skiers switch to January holidays in an attempt to save cash, this could force the operators into offering big discounts and last minute deals at other times of the year.

Adults who stopped holidaying with their parents in their teens are reviving the family holiday in order to save money and have childcare on tap according to Saga Travel Insurance.

Pre credit crunch times, the majority of people went away with their partner (35%), and 50% of all kids stop holidaying with their parents by age 16. However, it seems, to save on costs and babysitting that family trips are making a real comeback. 44% of people have now resumed holidaying with their parents, with the average age now 29. Grandparent’s role in the family is now more vital than ever, with many families relying heavily on them to babysit, so the parents can juggle the finances better. Andrew Goodsell, Chief Executive of Saga commented 'Everybody has different priorities when deciding who to go on holiday with. It is encouraging that a positive outcome of the credit crunch hitting younger travellers could be that families, including grandparents, are getting to spend more time together.'

*Source The Observer, Sunday 12, 2008

http://www.jstfinancial.co.uk/articles/travel/155/Bargain-holidays-boom-despite-credit-crunch-crisis

Following a dispute with the local council, Ryanair has closed its operational base in Valencia, Spain, meaning the loss of 70 flights each week.

The Irish budget carrier’s decision will impact 10 routes that connect Valencia with the UK airports at East Midlands, Liverpool and Stansted – routes that are travelled by as many as 750,000 passengers annually.

Ryanair has said that the move, in effect from 4 November, was a result of the local authority failing to present a satisfactory scheme for promoting the Valencia airport, making it an unsustainable destination.

The carrier said that it would shifts its operations to another existing base.

Ryanair’s action comes at a time when the downturn in the airline industry shows no signs of easing.

British Airways, easyJet, Ryanair and Virgin have all made cuts to winter schedules and discontinued flying on unprofitable routes. As the cutbacks are being made, the industry is reporting figures that confirm aviation is in the midst of its worse crisis since the outbreak of SARS in 2004.

Even with millions of seats having been cut from carriers’ capacity, the fall in demand is even more significant.

For Europe, passenger numbers in September were down by 0.5 per cent from the same month last year, according to figures reported by the International Air Transport Association (IATA).

http://www.asap.co.uk/news/ryanair-closes-base-at-valencia-5633806.html

Depending on to whom you speak , the answers you get vary dramatically.
What, if any, is the impact of the countries financial crisis on the timeshare industry.

First we need to define the question. Are we talking sales of existing developments? New resorts getting off the drawing board? How owners use the timeshares they already own?

In conversations mostly off the record, I’ve been told sales are still excellent; that it’s expected they’ll be flat this year, but shouldn’t drop too much; and that they’ve been off by as much as 70%!

You can understand my confusion.

New developments are likely to slow, at least in the short run. Money is harder to come by, although that could end up being a cloud with a silver lining. New construction is likely to lag the recovery, creating a pent up demand that will certainly spur sales of existing programs.

Usage by existing owners is a little bit easier to predict. Much like the response to the terrorist attacks of 2001, save for a very brief drop in usage, resorts continued to operate at 90% occupancy rates, plus or minus.

What changed then, and is likely to be a similar response to unpredictable gas prices and (pardon the pun) soaring plane fares is who stayed where. East coast owners were less likely to travel to California or Hawaii, preferring to see the fall foliage change in New England. West coast owners were more likely to visit Disneyland in Anaheim rather than Disney World in Orlando.

What I really want to know, and you can keep it confidential if you’d like, is what are you seeing in the real world. I would like to hear from owners, developers, and other industry professionals.

If you are an owner, tell me what, if any, changes you will make in the way you use your timeshare.

If you are a developer, I would like your first hand report on the long and short-term impact on new properties. If you are on the front lines of sales, what are you seeing – is the reluctance to purchase stronger? Are they making smaller purchases? Is the kick rate higher?

Email me at timeshare.examiner@gmail.com - by Mark Silverman, S.F. Timeshare

Examinerhttp://www.examiner.com/x-773-SF-Timeshare-Examiner~y2008m10d28-The-finanancial-crisis-timeshare-owners-developers-and-sales

Planet Hollywood International last week announced the formation of a new company, Planet Hollywood Worldwide Resorts, with Richard P. Brown as its president and chief executive officer.

Planet Hollywood Worldwide Resorts will concentrate on expanding the brand in the casino resort industry, both domestically and internationally.

Planet Hollywood, famous for its string of celebrity endorsed restaurants, entered the casino business four years ago with the purchase of Planet Hollywood Resort & Casino in Las Vegas, formerly the Aladdin.

"With the success of our Las Vegas resort, the time is right to move forward with plans for rapid expansion of our brand," said Robert Earl, chairman of Planet Hollywood International. "Having Rich as the leader of Planet Hollywood Worldwide Resorts allows us to start our newest undertaking with a proven industry executive."

#8195;Earl said that Brown would be responsible for the development and expansion of the Planet Hollywood brand through various hospitality avenues, including casinos, hotels, timeshare and entertainment complexes.

#8195;He added that the new company’s strategy includes licensing, acquisitions and management of casino/entertainment properties.

"I am thrilled to be a part of this experience as we build the Planet Hollywood brand worldwide," Brown said. "Joining the Planet Hollywood team provides me the opportunity to take a great brand and leverage what we have been able to achieve in Las Vegas and other markets."

Brown brings a broad range of gaming experience to his new position. Most recently he held the position of president and chief executive officer of American Casino and Entertainment, which operated resort casinos in Las Vegas, Laughlin and Atlantic City before they were sold for more than $1.4 billion.

Prior to American Casino and Entertainment, Brown held executive positions with Harrah’s Entertainment, Hilton Gaming and the New York Racing Association.

http://www.gamingtoday.com/industry-news/story.bv?storyid=18617

Street Talk has received documentation that ARDA has declared a timeshare industry liquidity crisis and, with input from timeshare developers and other interested parties, is in the process of requesting assistance from the White House Counsel of Economic Advisors.

A conference call between that White House Counsel and a select few CEO-level ARDA board members was held on Oct. 10, during which the Counsel asked for a one-page summary of the industry’s size, paper terms and performance, delinquencies, etc. You can see the resulting document HERE. http://streettalkblog.com/wp-images/ardaletter2.jpg

The reason I’m making it public is that this is probably the most serious crisis we have ever faced as an industry, and I want all of you who man the front lines in sales, marketing and everyone else to be aware of the possible repercussions if the crisis is not solved quickly. Timeshare owners should also be cognizant of how this might affect them.

ARDA is (correctly) explaining to the Fed that due to the cash intensive nature of the industry “though timeshare sales continue to be made the present credit market dislocation has created a very serious and immediate liquidity crisis that threatens the industry’s continued viability. The timeshare industry is literally selling itself out of business by generating consumer loans through sales without being able to monetize them.” As a result, the industry is currently in the process of substantial layoffs involving thousands of jobs and is curtailing real estate investments. This will have a significant impact that will reverberate throughout the national economy.

What the industry is requesting under EESA (the Emergency Economic Stabilization Act) at this early stage is Federal assistance to open frozen credit markets in the form of a federal guarantee of timeshare investment grade paper in exchange for a credit insurance fee paid to the US Government. There is no guarantee that the request for assistance will bear fruit, but at least the Fed is listening and has asked for more detail.

It’s good to know that ARDA is using its considerable heft and expertise to lobby for the industry, but that’s its job and I expect nothing less. I believe the industry will survive this crisis, but I also believe we are in for rougher times than many of us presently imagine.

http://streettalkblog.com/?p=2982#more-2982

A vote by European Union lawmakers is demanding further study before authorizing new full-body scanners at airports that would allow security staff to see through clothing worn by passengers.

On Thursday, the European Parliament vote was 361 to 16 in favour of a resolution that required EU authorities to conduct a complete study on health and privacy implications of the new body-scanning technology.

The scanning system allows security personnel to view the outline of passengers’ bodies through their clothing. Supporters of the technology claim that it makes it easier to detect any hidden objects, including liquids and weapons made of plastic that traditional metal detectors do not pick up.

Body scanners are being introduced at several airports in the US, and have been tested in other countries, including EU members Britain and the Netherlands.

Civil liberties groups are saying that the new scanners conduct a ‘virtual strip search.’

Philip Bradbourn, a British Conservative who is a member of the EU assembly, stressed that the new technology should not be introduced as a routine screening measure, but that it could be used in cases involving heightened suspicion.

Bradbourn said that although there may be a benefit in having the new scanners in place at airports they should only be used as a last resort and a substitute for a necessary strip search.

http://www.asap.co.uk/news/meps-vote-against-airport-body-scanners-5633798.html

The new Aerion Supersonic Jet is said to have a top speed of mach 1.6, and its promoters are asserting that it will transform the conduct of international business. Its designers admit that the aircraft doesn’t have the same style or grace of the Concorde, however.

It is anticipated that test flights will be run in 2012 and executives at the US-based company, Aerion, are saying that they have 50 parties interested in the new aircraft, all having paid a £150,000 deposit.

Aerion spokesman, Jeff Miller, said: “Flight times in general will be reduced about 40 percent. Business and government leaders will be able to travel more in pursuit of opportunity. And they will feel a lot better when they step off the aeroplane.”

The price of the aircraft is projected at £47.5 million, and Miller says that operating costs per nautical mile will be around the same as for a Boeing 747.

http://www.asap.co.uk/news/new-supersonic-jet-in-development-phase-5633801.html

Airline baggage allowance policies penalise families travelling with young children, according to report issued by The Co-operative Travel.

The study released by the travel retailer suggests that travelling on holiday with an infant requires an additional 14-15kg of essential items.

Only two of the seven main airlines used by UK holidaymakers make allowance for additional baggage for infants, forcing parents to pay substantial charges for excess baggage.

The most infant-friendly carriers were Virgin and British Airways, with both offering an infant baggage allowance in addition to their normal baggage allowance of 23 kg.

These same airlines had the highest excess baggage charges, however, ranging from £30 to £120 per bag.

Ryanair was the worst, in terms of family baggage policies, as its baggage allowance is only 15kg and no provisions for infants are made. Parents needing to take along extra items for their infants are charged £12 per kg.

Co-operative Travel is asking carriers to change their baggage allowance policies to be more favourable toward families travelling with infants.

The travel retailer warned travellers that some airlines, such as Ryanair, don’t permit the pooling or sharing of allowances by passengers, even when they are travelling together on the same booking.

http://www.asap.co.uk/news/families-with-children-pay-highest-airline-excess-baggage-charges-5633794.html

Bluegreen Corp. said Friday that Diamond Resorts International has not secured financing for its previously announced proposed purchase of Bluegreen.

Bluegreen (NYSE: BXG) announced in September that it would extend, until Nov. 15, the period during which Diamond Resorts would have an exclusive right of negotiation to acquire all of the Boca Raton-based resort company’s common stock.

Diamond Resorts has asked that the exclusivity agreement remain in place pursuant to its previously disclosed terms, but has indicated that it may propose an alternative transaction.

However, Bluegreen said Diamond Resorts has not assured it that such a proposal is coming, or whether Bluegreen will accept one.

Bluegreen shares closed Thursday at $3.56. The 52-week high was $12.54 on July 22. The 52-week low was $2.80 on Thursday.

http://www.bizjournals.com/southflorida/stories/2008/10/13/daily48.html

The European Parliament has passed a law to crack down on rogue timeshare and holiday clubs.

About 1.5 million people across Europe have bought timeshares, which provide access to holiday homes for a certain period every year.

But campaigners have long argued that too many customers have been tricked and conned.

The new rules will give consumers a 14-day right of withdrawal and also increase the obligations on traders.

The sellers will have to provide a list of standard information, telling buyers exactly what is on offer - and what isn't.

A failure to offer such a list would extend the get-out clause to three months.

An overwhelming majority of MEPs voted in favour of the directive in Strasbourg on Wednesday. There were 674 votes for it, 11 against and 10 abstentions.

Closing loopholes

"With this new law we are giving consumers additional protections, new rights and we are plugging the gaps, the loopholes the scam-merchants have been operating," British Labour MEP Arlene McCarthy, who chairs the parliament's Consumer Protection Committee, told the BBC.

"Consumers will enjoy the same rights, whether they are buying in Varna on the Black Sea or Valencia on the Costa Blanca. They will now have a 14-day right of withdrawal, which means that if they had too much sun, or sangria or slivovitz, they can simply walk away and say 'I am not interested'."

The Timeshare Consumers Association in the UK, and its sister organisations across Europe, are welcoming the vote, but are frustrated the right of withdrawal is only a fortnight.

"These con merchants can spot the white knees and red faces of tourists a mile off - and for those holidaymakers that leave their brains at home, two weeks' grace might not be much use. If they sign up in the first few days of their holiday it could be too late by the time they're home and have a chance to think about it," says Sandy Grey, the association chairman.

National governments now have a maximum of two years to ensure the directive is incorporated into law.

Mr Grey has concerns Spain - where hundreds of thousands of Europeans have timeshares - may act slowly in doing this. He is urging the Spanish government to prove him wrong, in what is claimed would be a boost not just to consumers but to reputable timeshare dealers across the continent.

Central Florida Investments Inc. has closed its Westgate Houston Preview Gallery and laid off all 106 employees.

The gallery offered a full-size model with a living room and kitchen styled after Central Florida Investments’ timeshare properties.

The Houston location, which opened in 2004, was the first off-site sales center for Orlando-based Central Florida Investments. The company owns Westgate Resorts, which operated the preview gallery.

According to documents filed with the Texas Workforce Commission, Central Florida Investments chose to close the Houston location late last month because the company has “experienced an unforeseen business emergency brought on by the collapse of the credit markets. Westgate has been unable to access its regular and customary borrowing sources and, as a result, does not presently have the cash flow to support its operations in their current form without these staff reductions.”

David Siegel, CEO of Westgate Resorts, announced plans in late September to shutter much of his sales operations and lay off hundreds due to his inability to get credit to keep cash flow moving

Ed Hastry, president of the National Timeshare Owners Association, says the timeshare industry is in its worst shape in 20 years.

“It’s following the downturn of the housing market,” Hastry says. “People are watching their pennies.”

Hastry explains that timeshare owners must pay an annual maintenance fee in order to return to the property, and some owners are finding it difficult to even cover the fee. He adds that some people also aren’t willing to pay the travel costs to get to their timeshare locations.

“As soon as the economy turns around and gas is less than $2 again, I think we’ll see a big turnaround in this industry because people will have more discretionary income,” he says.

http://www.bizjournals.com/orlando/stories/2008/10/13/daily44.html

Serial complainers, adept at demanding their money back, face short shrift from Britain’s biggest holiday company, which has announced it is to open a black book of troublesome customers.

The move by TUI Travel – the holiday giant that includes Thomson and First Choice among its 89 brands and serves 7m British tourists every year – means serial complainers will be barred from making bookings.

“We’re only talking about a tiny percentage of customers who are persistent troublemakers,” said the firm’s customer director Tim Williamson, “but we’re keeping a list of them. If they try to book another trip, they’ll be told that we are unable to meet their expectations. There’s always been a philosophy that the customer is right, but these people will never be happy.” The company would not say how much money was paid out to customers who complained.

Black books are by no means work. So they complain and, if we accept we are in the wrong, we settle and they get next year’s holiday free.”

Holiday rep Andy Williams, who has been working in Mediterranean resorts for 11 years, said the whingers were a common problem. “I had a client who went berserk because he found a bare wire in his apartment. The mains cable had been ripped from the wall and he was quoting health-and-safety law, but nobody had complained previously.

"We couldn’t prove whether this gentleman had done it, but a colleague recognised him as someone who’d made a similar complaint last year.”

First Choice said the cult of complaint was growing fast. “The internet has made things worse,” said a source. “There is so much advice and support online – most of it telling people that if they make enough of a fuss, we’ll pay up. The truth is that we hardly ever pay out, but we waste a lot of time dealing with the complainers.”

“We act for thousands of clients due to sickness or injury every year and I’m not aware that bogus claims are a significant issue,” said Clive Garner of the travel-law specialist Irwin Mitchell. “

Operators should concentrate their efforts on ensuring that the services and facilities they provide are safe and uncommon in the holiday industry, but TUI is the first operator to make its policy public.

“We get customers who deliberately book a ‘new-build’ hotel because they know they will find some small cause for complaint,” said Williamson. “The staff may not know their way around, the lights might not up to adequate standards.” work or there may be ongoing building

http://www.timesonline.co.uk/tol/travel/news/article4962668.ece

Better protection for holiday-makers: European Parliament to vote on Timeshare (22nd October 2008)

Consumers across the EU are set to benefit from greater holiday protection - when they buy and resell timeshare holidays, or timeshare-like holidays on cruise boats, canal boats, caravans and "discount holiday clubs" - under new rules to be voted by the European Parliament on 22 October. The aim of the proposed Directive is to further boost consumer confidence in the Timeshare industry (worth over €10.5 billion and responsible for more than 40,000 jobs across the EU) and to eliminate the rogue traders who cause problems for consumers and bring legitimate operators into disrepute. Up to now, EU rules on Timeshare have given consumers basic rights with regard to clear information, the right to withdraw and change their mind, and a ban on deposits. The new Directive which the European Parliament will vote on next Wednesday, aims to tackle loopholes in the current rules. Most importantly, it would extend the scope of the 1994 EU Timeshare Directive to cover new products which have emerged on the market – like discount holiday clubs, and "timeshare-like" holidays on cruise boats, canal boats and caravans. It would also extend protection to important areas like timeshare resale and exchange clubs. The new rules would ensure that consumers are equally well protected across the EU and will create a level playing field in the market for timeshare and certain other holiday-related products.
What is timeshare?

Timeshare is the right to spend a period of time (i.e. one or more weeks) in a holiday property for a specified period of the year for three years or longer. Timeshare holidays are very popular in many EU countries. For example, the UK, Sweden, Germany, Italy and Spain, have some of the highest number of consumers buying timeshare holidays. Spain, Portugal, Germany, Italy and France have substantial domestic timeshare industries. Countries like the Czech Republic, Hungary and Poland show a growing market for consumers buying timeshare holidays.

The 1994 current Directive protects consumers' interests by:

Giving buyers the right to information in a prospectus before signing a contract.

Seeking to prevent 'pressure selling' by allowing for a cooling-off period (right of withdrawal) of at least 10 days.

Prohibiting operators from taking deposits from buyers during the cooling-off period.
Why did the Commission revise the current law?

Since the adoption of the Directive in 1994, there have been major developments in the marketplace. New products and contracts have been developed that fall outside the scope of the legislation. Therefore, consumers who buy them do not get the same rights or levels of protection. For instance, the new products may allow the consumer to use different kinds of property (e.g. cruise boats, caravans or canal boats), or the contracts may last for less than three years. A further problem is that the re-sale and exchange of timeshare schemes are not covered by the existing rules.

What will the new Directive cover?

The new Directive will replace the old one with a modern, simplified and coherent framework, covering timeshare and long-term holiday products, as well as exchange and resale. The proposal will extend the scope of current rules to cover:

Shorter term contracts – contracts of less than three years will now be covered.
Moveable property – the rules will cover contracts for timeshare on property such as canal boats, caravans or cruise ships.

Long-term holiday products – these include holiday discount clubs, where consumers pay for instance 3,000 euro to get a password to a website, where they are promised "huge discounts" which are often misleading, on holiday accommodation, flights and rental cars. With the new rules, the traders will not be able to request the entire payment for the membership of such clubs upfront; consumers will be able to pay instead by yearly instalments.

Resale of timeshare products – many timeshare owners are approached by commercial agents who ask for a fee in return for selling their timeshare.

Exchange of timeshare products – some timeshare owners pay an additional fee to join an exchange club, where they can swap their week in e.g. the Canaries for a week in the Alps. Additional information requirements should ensure they get a realistic picture of the offer and they do not end up being disappointed.

The lack of regulation of long-term holiday products, re-sale and exchange schemes means that they are not covered by rules on cooling-off periods, deposits and consumer information. Consequently, consumers who sign up under pressure have little scope to change their mind. The new Directive will enhance consumer rights in the market for timeshare and long-term holiday products, and create a level playing field for the sellers of these products.

For information: http://ec.europa.eu/consumers/cons_int/safe_shop/timeshare/index_en.htm

http://7thspace.com/headlines/295620/better_protection_for_holiday_makers_european_parliament_to_vote_on_timeshare_22nd_october_2008.html

Hundreds of British holidaymakers are arriving home on other airlines after a Spanish carrier suspended all flights after running into financial difficulties.

And hundreds more UK tourists, due to be flown out on Friday by Majorca-based LTE International, were able to take up their holidays as planned after replacement flights were found for them.

UK holiday company Cosmos said about 350 of its holidaymakers due to travel to Tenerife on Friday with LTE would instead fly out with UK holiday airline Monarch.

Cosmos added that about 350 Britons due to return from Tenerife to the UK on Friday with LTE were now flying back to Manchester airport with Monarch.

Thomas Cook also arranged packages using LTE. The company said passengers on four flights on Friday - two to Tenerife and two returning from Tenerife - had been switched to Thomas Cook Airlines' services.

A Thomas Cook spokesman added: "We are currently working to re-protect the remaining flights affected by LTE's closure and will inform customers of any changes to their flights as soon as possible."

The Cosmos spokeswoman, who was also speaking for flight-only operator Avro, said: "Passengers due to depart with LTE in the forthcoming weeks will be contacted in due course as soon as alternative flight arrangements have been made.

"Due to our own ATOL (Air Travel Organisers' Licensing) protection and Abta (travel organisation) membership all of our customers are assured of being provided with alternative flight arrangements (albeit with some delays). Where this will not be possible they will receive a full refund."

LTE, which included Norwich among its UK-departing airports, said on its website: "We wish to inform you that due to the financial situation of the company, which makes it difficult to meet the operational expenses in the next days, we have had to suspend our charter and scheduled operations.

"LTE is doing everything to minimise the impact of this suspension of services on its clients and providers. After 20 years operating with maximum dedication to our clients it just was not possible to avoid this situation given world events lately."

http://ukpress.google.com/article/ALeqM5gtgZAKIbyC7IkqUITH2jiCLpbNdg

POLICE in Newquay are warning members of the public to be on their guard after a woman was duped by a timeshare scam.

A company under the name of Planet Vacations contacted a Newquay woman this week, asking her to participate in a timeshare scheme.

After she agreed to the proposal, the company asked the lady to pay for the postage, totalling £9.84.

However, a police spokesman said the company took far more from the woman.

"She gave the company her bank details, so they could charge for the postage.

"But when she then checked her bank account, she found that instead of taking £9.84, they had actually taken £984.

"When we searched for the company on the internet, we found that there were many blogs and listings stating that this company were actually not trustworthy and that they have nothing to do with timeshares."

As a result, Newquay Police are warning timeshare owners not to be drawn in by the scam, and never to release their bank details to a 'cold caller'.

The police spokesman added: "We are obviously now looking into tracing the money to see where it has gone.

"But these things are often difficult and the money usually goes abroad."

Anyone with information is asked to contact Newquay Police on 08452 777444, or Crimestoppers on 0800 555111, quoting crime reference number GN/08/2398.

http://www.thisiscornwall.co.uk/homepagenews/Timeshare-company-untrustworthy/article-407623-detail/article.html

Disney's first Hawaii resort aims for 2011 opening

It may be the world's first resort to incorporate a working taro loi, water slides erupting from a faux volcano, and Disney characters doing the backstroke in its pool. Not to mention steel roof designs that look like pili grass hale.

Walt Disney Parks & Resorts offered a sneak peek of plans for its first-ever Hawaii resort today. Groundbreaking on the resort—for now, dubbed Disney Vacation Club Resort Hawaii—is slated for Nov. 13 in west Oahu’s Ko Olina Resort & Marina, with an opening slated for 2011.

The resort will include 350 hotel rooms and 480 vacation villas, the latter dedicated to Disney Vacation Club timeshare members. Plus an 18,000 square-foot spa, 8,000 square feet of convention and banquet space, two restaurants, a kids club and a wedding lawn. Water features include an inland saltwater lagoon, quiet pool and a water park with slides, rapids and waterfalls. The resort also claims one of the crescent lagoons along the Ko Olina shoreline.

Disney plans to market toward luxury family travel. The company declined to reveal the project’s cost and room pricing. Renderings of timeshare units and hotel rooms were not available.

“There are always economic ups and downs. We have confidence in Hawaii as a continued family tourist destination for the long-term,” said Walt Disney Parks & Resorts chairman Jay Rasulo.

Disney first announced the project in October 2007, after purchasing the 21-acre Ko Olina property the resort will occupy. The Hawaii resort will be the largest of three Disney Vacation Club properties, and the first to combine hotel and timeshare offerings. The family-travel-oriented Disney Vacation Club claims more than 350,000 members worldwide.

“We ask our Disney Vacation club family members all the time, ‘Where do you think you would like your next home?' And every time, Hawaii always stacks up in the Top 5,” said Djuan Rivers, vice president of Disney Vacation Club Resort Hawaii.

http://www.hawaiimagazine.com/blogs/hawaii_today/2008/10/16/Disney_first_Hawaii_resort_opening

Two mechanics, who were responsible for repairs to the Spanair plane that crashed on 20 August at the Madrid Airport, killing 154 people on board, are under investigation on manslaughter charges, a spokesman for a Madrid court has said.

Flight recorder data from the McDonnell Douglas MD-82 confirmed that the plane had faulty wing flaps and that the warning system to alert the pilot had failed, according to a preliminary report from Spain's Civil Aviation Accident Investigation Commission.

The MD-82, carrying 10,130 litres of jet fuel, was propelled across a kilometer of scrub before it burst into flames, in the country's worst aviation disaster in 25 years.

The two mechanics, along with the head of Spanair maintenance at the Madrid Airport, are under investigation in the enquiry launched by a Madrid court, which is occurring simultaneously with a public works ministry investigation, the court spokesman indicated.

Under consideration in the investigation by the court are 154 possible manslaughter offences and 18 relating to bodily harm caused by negligence.

No spokesman for the airline was available for comment.

The investigation committee comprises two engineers, two mechanics and two pilots, who are specialists in the MD-82.

http://www.asap.co.uk/news/mechanics-targeted-in-spanair-crash-investigation-5633774.html

During the next six weeks, domestic passengers leaving Melbourne Airport will be asked to voluntarily test new scanners that can see through their clothing, according to a report published in The Age.

Airport transport security is running a trial of a new "X-ray backscatter" body scanner, which critics have described a conducting a virtual strip search.

The body scanner emits a low energy X-ray which reveals metallic and other objects that a person might hide underneath their clothing. It also reveals body features.

Participation in testing the scanners is voluntary during the trial, which is being conducted to determine how the new scanners affect passenger flow through security.

It does see through clothing, but it's not a photographic image, it's a low-energy X-ray that reflects off the skin, explained the Office of Transport Security's general manager, Cheryl Johnson.

It will show the private parts of people, but what we've decided is that we're not going to blur those out, because it severely limits the detection capabilities.

She clarified: It is possible to see genitals and breasts while they're going through the machine, though.

Johnson stressed that measures were in place, however, to address privacy concerns. The faces are automatically blurred and it's only a chalk-style outline, it's not as invasive as some of the other equipment that we've got, she added.

http://www.asap.co.uk/news/airport-scanners-blur-faces-but-not-privates-5633777.html

The lure of lush tropical vistas and free airfare might have scammed more than $100 million from Pennsylvania residents, the state Attorney General's Office said yesterday.

Attorney General Tom Corbett filed consumer-protection lawsuits against four subsidiaries of the Florida-based Bluegreen Corp., an $8 billion business that launched an aggressive and deceptive statewide campaign to market time-shares, said Nils Frederiksen, Corbett's deputy press secretary.

"It's the largest and most wide-reaching, vacation-related scheme that anyone here can recall," said Frederiksen, who cited the $100 million plus as the likely loss to Pennsylvanians.

The company, which set up kiosks at most area malls and festivals, operates full-time sales centers in King of Prussia and Hershey, Frederiksen said. People were contacted, usually by phone, and told they were "prize" winners and could collect their award at the sales facility after a purported 90-minute sales seminar that sometimes lasted more than five hours, he said.

"Bluegreen is currently investigating the matter and is not able to comment on it at this time," said Lisa Thornhill, director of corporate communications.

Frederiksen said more than 5,700 Pennsylvania residents purchased Bluegreen time-shares after receiving misleading information and without being told of their right to cancel the contract within five days. Many residents were phoned repeatedly in violation of Pennsylvania's do-not-call list, he said.

"There may be some of the 5,700 who are happy with their purchase; if they are, we wish them the best," said Frederiksen, adding that many people were distressed to receive a 300-page, three-ring binder of terms after signing the sales agreement.

Although the average price of a time-share was a little more than $20,000, the company made more than double that amount in financing and hidden fees, Frederiksen said.

He said the investigation began in July 2007 after a spate of complaints regarding misleading prizes such as airline tickets or free gas. For example, "four free airline tickets" were actually booklets that offered two tickets with each high-end hotel room booked for an extended stay in selected cities, he said.

When residents showed up in King of Prussia or Hershey to claim their awards, they were subjected to high-pressure sales tactics and phony claims that prices were about to skyrocket, Frederiksen said.

"It's hard to imagine a consumer-protection law they didn't violate," he said.

The suit, which seeks restitution for misled consumers and thousands of dollars in fines, names Bluegreen Corp., Bluegreen Resorts, Great Vacations Destinations Inc., and Bluegreen Vacations Unlimited Inc.

It also seeks an injunction from the court to end the alleged illegal business practices; a hearing date has not been scheduled yet, Frederiksen said.

Consumers with complaints are being asked to call the Attorney General's Consumer Protection Hotline at 1-800-441-2555 or register online at www.attorneygeneral.gov.

In 2005, Bluegreen ranked No. 48 on Fortune's list of America's 100 Fastest Growing Companies, according to Bluegreen's Web site. The company posted $3.4 million in profits for the quarter ended June 30, with time-share owners topping 190,000, up more than 3,000 from March, according to news reports.

http://www.philly.com/philly/news/local/20081015_Pennsylvania_alleges__100_million_time-share_scam.html

SPIRALLING maintenance costs and the pressures of the credit crunch have prompted almost 90 per cent of timeshare owners at an exclusive Windermere resort to give up their holiday cottage rights.

At a special meeting held at the Belsfield Hotel in Bowness, an overwhelming 88 per cent of the members of the Windermere Marina Timeshare Owners Club (WMTOC) voted in favour of ending the club, freeing themselves from an ever-mounting financial burden.

The assets will be transfered to Windermere Marina Village, the club's management company, in return for a considerable package of benefits.

WMV’s other business interests are unaffected by the closure of WMTOC.

http://www.thewestmorlandgazette.co.uk/news/3758387.Timeshare_owners_give_up_rights_in_Windermere_/

Eleven people died in a number of attacks in the northern Mexican state of Chihuahua, it was reported on Tuesday, as the U.S. Department of State warned Americans that they should be particularly vigilant when traveling to Mexico.

Worst hit by the escalating violence are the border areas where drug cartels are at war over the control of key routes into the U.S. Violence has increased throughout Mexico this year, leading to the deaths of 3,500, including civilians.

“Increased levels of violence make it imperative that travelers understand the risks of travel to Mexico,” according to a new State Department travel alert on Mexico.

In a 24-hour period, 11 were killed in attacks in Chihuahua State, including a former commander in the police force, said a spokesman for the attorney general’s office of the state on Tuesday.

The state of Chihuahua has become a flashpoint in a turf war between drug cartels, and over 1,000 people have been killed in Ciudad Juarez, a border city in the state, this year alone.

“The situation in Ciudad Juarez is of special concern,” commented the State Department about the city on the Mexico-U.S. border, located across from El Paso, Texas.

“A recent series of muggings near the US Consulate General in Ciudad Juarez has targeted applicants for US visas,” it continued, noting that increasing numbers of civilians were fleeing the area due to the violence.

http://www.asap.co.uk/news/us-upgrades-mexico-travel-alert-as-violent-attacks-increase-5633763.html

AirAsia X, Malaysia’s long-haul budget carrier, will commence its service from London in March of 2009 and has said that it prefers Stansted Airport as a base because of the connectivity it features.

The airline’s chief executive officer, Azran Osman-Rani, stated that it was still in the process of finalizing operational details for its inaugural flight.

“We hope to announce this year the start of sales for the flight to London,” he said to told reporters at the 14th World Route Development Forum.

Azran took the opportunity to say that the global economic downturn was not adversely impacting AirAsia X’s operations and that, in fact, it was seeing higher passenger demand.

“Operationally, things are going well,” he noted, saying that the carrier did not foresee any difficulty in securing the financing for its new fleet of aircraft on order.

Azran also indicated that higher fuel prices have not affected AirAsia X as seriously as other airlines, as the carrier’s new aircraft were more fuel efficient.

According to the chief executive, AirAsia X would be picking up the first of 25 new wide-body A330s by the end of October, and another by the end of 2008. Three additional aircraft will be delivered in 2009.

http://www.asap.co.uk/news/airasia-x-eyes-stansted-as-london-base-5633762.html

The $1.2 billion PH Towers by Westgate in Las Vegas has reached a pivotal point in development with the attainment of the highest point of vertical construction. Located at the Planet Hollywood Resort & Casino, the upscale 52-story PH Towers will be the tallest timeshare building in the world.

A Westgate Resorts project, the 3.2 million-square-foot PH Towers will also hold the distinction of being the first vacation ownership resort to be fully integrated with a major resort and casino complex. The 2,500-guestroom Planet Hollywood Resort debuted last year, having been reinvented from the former Aladdin Resort & Casino via a $1 billion makeover, and will provide direct access to PH Towers. Ground broke on PH Towers in 2006 and in 2007, Westgate Resorts closed on a $400 million construction and development loan for the project. Ultimately, the Morris Architects-designed timeshare property will feature approximately 1,200 luxury timeshare units, as well as a casino, a 35,000-square-foot convention center, a restaurant and 16,000 square feet of retail space.

Bovis Lend Lease Americas is overseeing construction of PH Towers. Completion of the first phase of the project is on schedule to take place next summer.

Headquartered in Orlando, Westgate is the largest privately owned timeshare company in the world, with a portfolio of 10,000 units at 28 resorts in 11 states. Presently, the company has an additional 4,500 units in its development pipeline.

http://www.timesharesdaily.com/index.php/20081012220/Latest/Worlds-Tallest-Timeshare-Tops-Off-in-Vegas.html

Oil-rich Arabs may be about to revive plans to build Scotland's first six-star hotel.

Plans to convert the crumbling Taymouth Castle, near Kenmore, Perthshire into a six-star hotel and leisure complex had stalled but it is now understood that London Allied, a Guernsey-based company, has been in discussions with financial backers from the Middle East with a view to purchasing the picturesque mansion.

Work began on the site in 2005 by the Taymouth Group with the aim of transforming the castle, which played host to Queen Victoria on an early visit to Scotland, into a 150-room hotel with 26 timeshare properties, health spa and outdoor facilities including clay pigeon shooting, tennis courts and an equestrian centre. However, the £74m development has still to be completed after work came to a standstill.

It has been reported that other potential buyers are waiting in the wings should interest from London Allied wane, including Joe O'Leary, who heads a Dublin-based investment fund.

It is understood he has considered the possible sale of Taymouth Castle as three separate lots, with the hotel and timeshare elements being sold to different companies.

John French, director of the Taymouth Group, has been reported as saying his company was "very close" to securing a deal that would cement the future of the prestigious building.

He has stated that the Taymouth Group has spent millions of pounds saving one of Scotland's "finest, most beautiful properties."

London Allied declined to comment.

http://www.theherald.co.uk/news/other/display.var.2460156.0.Arab_money_may_revive_plan_to_turn_castle_into_sixstar_hotel.php

For the first time since oil prices began their meteoric rise this year, airlines are slashing fuel surcharges on a major international route: most flights between the U.S. and Europe.

It's the first roll-back of the largest of the bewildering new fees that have driven up the cost of flying this year, while making it increasingly difficult for airline passengers to get a handle on travel costs.

In the last week, carriers have dropped their fuel surcharges by 18 percent, to $280, on flights from Chicago and other U.S. cities to Rome, Amsterdam, Madrid and Zurich, according to Tom Parsons, CEO and founder of Bestfares.com.

On flights departing to London from cities west of the Mississippi, fuel surcharges have declined 17 percent, to $366, according to Parsons.

Crude oil prices have plummeted in recent weeks to about $80 per barrel, driven down by concerns that a global economic slowdown will slate the world's thirst for fuel over the next year.

Now, airlines are starting pass along some of the savings to those with the means and inclination to travel to Europe this fall.

The trend means passengers heading across the Atlantic over the next few months will pay less than they would have this summer, when oil was near $140 per barrel. But even so, they aren't likely to see bargain-basement fares.

For example, all major airlines flying from Chicago's O'Hare International Airport to London Heathrow Airport, have lowered their base fare to about $160, round-trip. Fuel surcharges on those flights have remained steady this month at $302 per passenger, round-trip, Parsons said.

Even so, other fees and tariffs bring the total cost per passenger for a ticket to about $620, round-trip. And that doesn't include the added cost of checking bags.

The drop in fees and low base fares may signal that airlines are having difficulty attracting passengers to Europe as a result of the market mayhem, analysts said. As they cut back domestic flying this year, U.S. carriers have been shifting planes to trans-Atlantic routes, where prices remained high through the summer.

Now, carriers may be stuck with a surplus of planes on those routes as demand for flying slows because of the economic crisis.

"Is this really going to be enough to lure people back on planes in this economic crisis?" Parsons asked.

http://www.chicagotribune.com/travel/chicago-airline-fuel-surcharge-cut-oct13,0,6207912.story

San Francisco, CA – October 2008 – In a recently published article, the San Francisco Examiner named Shell Vacations Club “the best timeshare club in San Francisco” and the “best overall timeshare program to own for people living in the Bay area.”

According to Mark Silverman, who wrote the Sept. 30 article, “The Illinois-based Shell Vacations Club, founded by Sheldon Ginsburg, hits on the key features to meet the criteria as best timeshare program in San Francisco.” He adds that he considers Shell Vacation’s point-based Shell Vacations Club “the best all-purpose ownership program in San Francisco.”

“A unique characteristic of urban timesharing in San Francisco is the way the properties are used,” says Silverman. “Many of the people owning in San Francisco actually live less than one hundred miles from the City. Instead of staying for a week, many owners use the properties for a night or two at a time. They may have a conference in town or they may have tickets to a play or ballet.”

There are three Shell Vacations Club resorts within the City. They include The Donatello, Inn at the Opera, and The Suites at Fisherman’s Wharf. The Vino Bello Resort® in Napa is also extremely popular with vacationers and was ranked 5th on Expedia® Insiders’ Select™ List of Best Hotels and Resorts.

Says Silverman, “Points combined with multiple locations in the City offers very flexible usage opportunities, whether it’s short stays, larger accommodations, or longer trips. Efficient points management can also make the program affordable for many budgets. Whether you live here or are planning to visit San Francisco, Shell Vacations Club resorts will serve you well however it is that you would be using timeshare.”

Perry Bergelt, Regional Director of Sales and Marketing for Shell Vacations Club, is naturally pleased with words of praise and accolades from the San Francisco Examiner. “We are delighted to have been singled out as the best,” he said.

Silverman’s Timeshare Examiner column, appearing several times a week on the Examiner.com website is designed to help owners get the most value from their timeshare, help prospective owners select the right program, and shed some light on a product that doesn’t get enough straightforward coverage in the mainstream press.

Headquartered in Northbrook, IL, Shell Vacations is one of the nation’s most respected independent vacation ownership developers with more than 2,500 employees. The company specializes in the sales, marketing, and hospitality management of its vacation ownership resorts as well as the servicing of over 120,000 owners/members.

Visit www.ShellVacationsClub.com and www.ShellVacationsHospitality.com for more information.

http://hospitality-1st.com/PressNews/ShellVacations-101408.html

Some airline officials are questioning whether the Las Vegas airport is expanding too quickly as struggling airlines cut flights to the destination running short on tourists.

Passenger traffic is down 4.8 percent in 2008 compared to 2007, as tourists avoid Las Vegas during tough economic times. Airlines project that next year, there will be 12 percent to 15 percent fewer seats available on Las Vegas flights.

"There is clearly not a current need for increased capacity," said Linda Macey, properties manager for Southwest Airlines.

But county officials, airport officials and others believe McCarran International Airport should continue to expand so it can handle more passengers.

A $2.4 billion new international terminal is expected to open in 2012, giving the airport enough infrastructure to support 53 million passengers each year.

Southwest, which accounts for roughly 35 percent of the air passengers to and from Las Vegas, has scrapped a plan to increase its daily flights from 240 to 350 at the airport, Macey said.

"We are evaluating our flight schedules at Las Vegas and throughout the country on a daily basis right now," she said. "With the uncertainty of fuel prices and the economy right now, it is certainly fluctuating a lot more frequently than it had in the past."

Southwest has kept expenses flat through fuel hedges, which allowed it to buy fuel years in advance. But the deal is set to expire by 2012 and make Southwest subject to market prices for fuel.

Southwest and others are questioning the pace of expansion as the Las Vegas economy slows and airlines struggle. Airport expansions would largely be paid for by airline fees.

In July, Macey urged the Clark County Commission to cancel or delay every airport upgrade not justified by current needs.

In addition to the new terminal, projects include a new pedestrian bridge, new gates and a new heliport in Jean that will benefit helicopter tour operators.

"We do not feel that we should be delaying any of this whatsoever," said Rosemary Vassiliadis, deputy director of McCarran International Airport.

Airport and elected officials say the airport should anticipate for a recovering economy and be immediately able to accommodate larger crowds.

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/10/12/state/n120800D22.DTL

Carriers hope to boost passenger numbers

AIRLINES have begun to cut their fuel surcharge on passengers as crude oil prices dip to their lowest in almost a year in hopes of boosting passenger numbers as the industry fights the effects of the global financial crisis.

Australia’s Quantas announced on Wednesday it would reduce fuel surcharges on its international fares starting Thursday, while Europe’s Air France-KLM Group had announced a similar move on Tuesday effective Wednesday.

A spokesperson from Malaysian Airline System Bhd said the national airline had already lowered its surcharge for “certain customer sectors”.

Cargo subsidiary MASkargo has lowered its fuel surcharge rates to RM3.61 per kg effective Sept 29 from RM3.80 per kg previously for cargo uplift from Malaysia to International Air Transportation Association (IATA) Area 1 — South, Central and North and IATA Area 2 — America, Europe, Middle East and Africa.

An analyst with a local bank-backed brokerage told StarBiz: “With sharply declining crude oil price, there is the benefit of a falling cost base but the financial crisis is creating many challenges to the industry as well.”

He cites the fact that airlines globally were facing difficulty in securing loans to finance the delivery of new aircraft scheduled for the next two to six months.

At the same time, as many airlines globally were going bust, borrowing costs were going up as banks become more wary of lending to companies in the sector.

This was made even worse with bank collapses in Western countries, prompting financial institutions globally to adopt more stringent “risk management, which includes raising interest rates,” he said.

The financial crisis was also causing problems for airlines seeking to hedge fuel costs, with instability in the banking sector making it harder for airlines to find a reliable source of hedging tools.

However, OSK Investment Bank acting head of research Chris Eng said: “Many airlines have hedged their fuel costs when prices were at record highs, so it really doesn’t matter now if the counter-party bank can’t meet its commitments.”

Airlines would not be exercising their hedging contracts to buy fuel at the record prices when they can purchase at current lower rates.

Looking for hedging contracts to lock-in the current lower price of fuel, however, would be harder.

The first analyst said that global challenges” could be a factor keeping some airlines from lowering their fuel surcharge.

He believed that the global credit crisis was affecting AirAsia Bhd more than MAS, given that AirAsia was more heavily leveraged due to aggressive expansion of its fleet being a newer airline while MAS was only replacing its fleet.


AirAsia could be seeing higher financing costs almost immediately, he said, adding: “AirAsia’s loans are (denominated) in US dollars and the dollar is shooting up.”

Airlines also have been quick to cut their fuel surcharge, therefore, lowering the cost of flying to the benefit of passengers.

A spokesman for Malaysian budget carrier AirAsia told StarBiz: “We are currently reviewing the fuel surcharge and would announce a decision soon. Generally, lower fuel price means lower costs for us operationally and its contributes to the bottomline positively.

“We are unable to disclose this information but AirAsia charges the lowest fuel surcharge among local airlines.”

Jet fuel is typically priced at US$25 to US$35 above the crude oil price with the latest IATA quote on Oct 3 at US$140.4 per barrel.

http://biz.thestar.com.my/news/story.asp?file=/2008/10/13/business/2249344&sec=business

Virtually all investments look bad these days, but some pretty big names want you to reconsider one of the most maligned of all: the timeshare.

High pressure tactics and deceptive costs have given timeshares a mixed reputation.
But companies including Disney, Marriott, Hyatt, Starwood and Hilton dominate the industry, offering new perks and better value. "Timeshares are a great alternative to purchasing a vacation home since you are not responsible for the cost of maintenance," insisted Jim Lewis, president of Disney Vacation Club.

Selling real estate in timeshares can be a profitable way for developers to sell real estate, especially condos in hot vacation spots or hotel rooms at resorts. In such a deal, several people buy one property and share it.

Prices range from $8,000 for a small place in Florida to more than $30,000 for vacation rights at a top resort with golf courses and other amenities.

Timeshare offers, even within the same area, can vary greatly. The buy-in price may be low, but some places have high annual dues.

One drawback to timeshares is that the participant does not earn any equity in the vacation property.

When the membership period is over, the package has no value to the former member. Also, resale values are almost always lower than the original price.

Timeshares are now more closely regulated by state consumer officials, and sellers usually know they have to work hard to overcome the old reputation.

Dr. Tina Discepola, a physician from White Plains in Westchester, said she and her family signed up for a Disney timeshare in 2000.

"While we were on our first family Disney World vacation in Orlando, we had an experience that was beyond anything we ever expected," she said. "We met with a representative from Disney Vacation Club, listened to their sales pitch, and signed up that day."

Timeshares there start at about $18,000, plus a sliding monthly fee based on the number of points racked up for using the place. One important benefit, Discepola said, is that her family can stay at several Disney-owned resorts.

"There is tremendous flexibility in terms of when and where members can travel," she said.

http://www.nydailynews.com/money/2008/10/11/2008-10-11_hotel_industry_giants_including_disney_m.html

Scottish tourism is experiencing a half-term boom as hard-pushed families forgo trips to overseas destinations in favour of short breaks at home.

Fears of being left stranded by struggling airlines and the increasing pressure on family finances have led to a large rise in the number of bookings for self-catering cottages north of the border.

The Association of Scotland's Self Caterers said many of its members are having to turn people away, following a sharp rise in booking inquiries.

'Our members had a cracking summer and the half-term holidays look like being packed as well,' said Jennifer Moffat, secretary of the ASSC and owner of Airdeny Chalets in Argyll. 'A lot of self-catering businesses are already reporting a rise in their takings from last year, despite the fact that fewer people are booking in advance or staying as long. We are tending to get more people who take shorter breaks - three nights is fairly typical - and make late bookings.'

Sharon Makepeace, a spokeswoman for VisitScotland.org, said: 'In the light of the current economic climate, we anticipate more people will be looking to holiday closer to home over the October holidays. Over the summer period the self-catering sector fared particularly well and this trend looks set to continue. The rise in costs for fuel and food, coupled with the strength of the euro means people are retaining their holiday plans, but altering their destination choice and choosing Scotland.'

According to holiday travel group Hoseasons, there has been an almost 50 per cent growth in demand for domestic short breaks in the last couple of weeks.

In addition, Premier Cottages, a co-operative of more than 200 luxury self-catering cottages across the country, claims that in the run-up to the school holidays, which start this week for many families, a large number of their members were reporting a flood of late bookings. 'Our members are generally very busy at the half-term. We haven't had to endure the expected downturns in business that some of the other operators have had,' said Stuart Diplock, Premier's marketing director.

'People are now saying that, if we are going on holiday in the UK, then we want to have the same sort of quality we would expect abroad. They want good value for money, so the quality end is starting to make a difference.'

Auchendennan Cottages, by Loch Lomond, is typical of the new breed of accommodation providers attracting visitors. Complete with family sauna, hot-tub, flat-screen plasma televisions, lavish kitchens and luxury furniture, Auchendennan aims to provide all the comforts of a five-star resort for less than the price of a bed and breakfast.

'In the past week we've had bookings from a family in Glasgow, just 22 miles away, one from Colchester, and a big group looking for somewhere to meet between their respective homes in Aberdeen and Brighton,' said David McCowan, who runs the site. 'Self-catering used to be seen as a poor man's holiday, but not any more.'

http://www.guardian.co.uk/travel/2008/oct/12/scotland-scotland

British families will cut back on overseas holidays next summer in favour of shorter breaks in Britain as the effects of the credit crunch and the cost of airline fuel surcharges hits travellers' spending.

A survey of more than 2,000 people revealed that 65 per cent of Britons plan to holiday at home over the next 12 months, with a quarter of families planing to book a holiday cottage in the countryside and one in five planing to holiday at a British seaside resort.

"Young parents often have nostalgic memories of their own childhood holidays," said Paul Havenhead, marketing director at Towergate Bakers Insurance, the caravan insurance specialist that conducted the survey. "This combined with the economic downturn will create a boom in UK holidays in the year ahead," he added.

The rising price of flights and the cost of airline fuel surcharges has prompted 50 per cent of Britons to change their travel plans, according to a survey of 2,000 members of the online travel community trivago.co.uk.

British Airways, Virgin Atlantic, Air France, Lufthansa and Aer Lingus have come under increasing pressure to reduce their fuel surcharges, as oil dropped to a year low of $86 a barrel this week. Oil prices have fallen by more than 40 per cent from a high of $146 a barrel, yet surcharges have remained at record levels. For example BA's surcharge for a long-haul flight remains at £218 return.

Richard Carrick, chief executive of Hoseasons, which specialises in self-catering breaks within Britain, predicted that a combination of high fuel surcharges and the weak pound is likely to push up the price of overseas holidays by around 10 per cent over the next year. "People will still want to go on holiday, but they are likely to take short breaks closer to home, and when they can afford it," he said.

http://www.telegraph.co.uk/travel/travelnews/3171296/Family-holidays-in-Britain-set-to-soar.html

From next month Aer Lingus customers will be able to use American routes and networks under a new agreement with United Airlines.

Aer Lingus and the American carrier have begun a code-sharing agreement, enabling Aer Lingus customers access to United Airlines’ network in North America from November 1.

From April 2009, Aer Lingus will also place its code on United’s domestic flights, giving customers access to United's entire North American network.

The codeshare agreement will cover all six of Aer Lingus' US gateways, including New York-JFK, Boston, Orlando, Chicago-O'Hare, San Francisco, and Washington DC.

Aer Lingus customers will have access to almost 200 additional destinations in the US through United's hubs in Chicago, San Francisco, and Washington.

United customers will also benefit from greater access to destinations in Ireland and to destinations in the UK and in Europe through Aer Lingus' extensive short-haul network.

Dermot Mannion, Aer Lingus CEO, said this new agreement will change the way Irish passengers travel to the US, while also strengthening their position in America.

“The relationship with United Airlines extends our offering to both our Irish and North American customer base, with seamless travel options and access to more than 200 destinations served by United Airlines in the US.

We believe that this agreement will strengthen and consolidate our position in the US market as we capitalise on the scale and the strength of the United Airlines network.”

Glenn Tilton, chairman, president and CEO of United Airlines said: “We are pleased to partner with Aer Lingus and provide our customers in the United States with the most direct service to Ireland on the country's national carrier.

“Our customers will now enjoy more choices and benefits during their travels to Ireland and the rest of Europe.”

The United flight code is now available on all Aer Lingus transatlantic flights to and from Ireland, and on flights between Ireland and both London Heathrow and London Gatwick.

United customers can now book connecting flights on Aer Lingus' network for travel from November 1, 2008.

“The new partnership provides customers with a seamless booking process, coordinated baggage handling, and simplified reservations, ticketing and check-in,” said Mr Tilton.

http://www.belfasttelegraph.co.uk/news/local-national/aer-lingus-deal-opens-up-us-routes-13996076.html

BETHESDA, Md. - Hotel company Marriott International Inc. said Thursday that its third-quarter profit dropped 28 percent, compared to 2007, and it warned investors about deteriorating conditions for 2009 amid the ongoing financial crisis.

"It‘s ugly and getting uglier," said Susquehanna Financial Group analyst Robert LaFleur in a note to investors. "The domestic lodging business has slowed, and the pace of decline is accelerating."

In a sober conference call with investors, Chief Financial Officer Arne Sorenson argued that Congress should pass a financial bailout package:

Marriott‘s earnings projections came in well below analysts‘ expectations at 44 cents to 50 cents per share, compared to the consensus forecast of 63 cents. The company lowered its full-year 2008 earnings guidance to $1.62 to $1.68 per share, from its previous guidance of $1.77 to $1.88 per share. Analysts had forecast 2008 profit of $1.78 per share.

Sorenson said Marriott has a cushion under its $2.4 billion revolver, which is effective until 2012, to keep it comfortable until liquidity returns to the marketplace.

Bethesda, Md.-based Marriott said revenue rose 1 percent to $2.96 billion from $2.94 billion.

In North America, Marriott said third-quarter comparable company-operated revpar declined 1 percent and is expected to drop further — between 3 and 5 percent — in the fourth quarter.

Sorenson said Marriott‘s corporate group business has suffered as businesses have delayed booking events and trimmed their meeting and travel budgets.

The company‘s timeshare business was hit the hardest.

The company booked no new residential sales during the quarter and said it does not expect a sale in the fourth quarter. It now expects 2008 timeshare sales to total $158 million to $168 million, down from its previous forecast of $230 million to $250 million.

Marriott‘s timeshare results worry investors in Wyndham Worldwide Corp., which relies more on them. Wyndham shares lost 80 cents, or 5.2 percent, to $14.49 in afternoon trading.

For 2009, Marriott said the outlook is uncertain, but the company expects the environment to remain "unusually challenging." The company expects at least a 3 percent decline in North American revpar next year.

Marriott forecast 2009 earnings between $1.48 and $1.60 per share, below analysts‘ consensus profit estimate of $1.85 per share.

Marriott said it will focus on cash flow by trimming investments and share repurchases.

Oppenheimer & Co. analyst David Katz said stock buybacks had been "a key positive" for the company.

http://www.heraldnewsdaily.com/stories1/index.php?action=fullnews&id=39311

TimeshareCalendar.com re-launches website with new features and new services. In addition to their Timeshare Calendar, a favorite tool for planning timeshare vacations, TimeshareCalendar.com now offers timeshare resale and timeshare rental services.

Dover, NH (PRWEB) October 8, 2008 -- TimeshareCalendar.com announces the re-launch of its website with a new look, new features, and some very important new services. As Leslie Martin of TimeshareCalendar.com explains, "In this economy, time and money are precious. TimeshareCalendar.com offers you a safe, reliable resource for conducting all of your timeshare business, whether you want to buy, rent, or sell timeshare or plan your timeshare vacation."


TimeshareCalendar.com re-launches website

In this economy, time and money are precious. TimeshareCalendar.com offers you a safe, reliable resource for conducting all of your timeshare business, whether you want to buy, rent, or sell timeshare or plan your timeshare vacation. Timeshare owners and prospective owners have long recognized TimeshareCalendar.com as a helpful tool for vacation planning, allowing them to identify timeshare by week number on any given date for years into the future. Now TimeshareCalendar.com has expanded, offering an outlet as a reliable and dedicated timeshare resale option.

TimeshareCalendar.com helps buyers or renters find their dream vacation property or timeshare vacation rental. By using the Timeshare Calendar's scheduling tool, timeshare owners or renters find it easy to work out timeshare schedules, even planning years in advance.

Leslie Martin says, "Timeshare resales and timeshare rentals offer excellent discount options for vacationing. TimeshareCalendar.com is excited to add the benefits of an online timeshare marketplace to our already valuable Timeshare Calendar services.

TimeshareCalendar.com is a versatile and growing timeshare services company that provides advertising and marketing for timeshare resales and timeshare rentals, an inventory of available timeshare properties, and valuable tools for planning timeshare vacations. To learn more about TimeshareCalendar.com contact: Leslie Martin at 603-516-0210 or email info (at)timesharecalendar.com

http://www.prweb.com/releases/timesharecalendar/timeshareresales/prweb1439614.htm

Dubai will soon enact 'responsible' legislation regulating the timeshare industry in the emirate that will bring greater credibility to the market and benefit both consumers and operators, said an expert today at the Cityscape conference.
eads turn in Dubai

One of the most important aspects of the legislation, which is currently under final review by the Real Estate Regulatory Authority and the Dubai courts, is that consumers now have the right to cancel their timeshare purchase within 10 days after the date of execution without penalty.

'People will have more time to sit back and think about their purchase and can walk away from the deal if they choose to do so,' said Dale Young, Vice President and General Manager of Marriott Vacation Club Middle East.

The new rules also require companies to provide a detailed disclosure statement that describes all of the features, amenities, and rules of operation of the timeshare, including an explanation of the consequences of nonpayment.

In addition, any monies paid to the operator must be kept in escrow by a third party.

Taken together, these requirements will help to protect consumers and 'cull the herd' of unreputable companies that tarnish the image of the timeshare industry, Young noted.

In terms of demand for timeshare property, Young said the Dubai market has been relatively immune to the financial crisis, as compared to Europe and the US.

In general terms, the timeshare market typically does better than the hotel sector during a recession, because people 'always place a premium on taking their family on vacation', even when other expenses are being cut.

By contrast, hotel companies take a greater hit during economic downturns because they rely on business travel for a significant portion of their revenue.

Another trend that is emerging in the industry is that consumers, especially in Asia, are demanding greater flexibility when they purchase timeshares, Young said. Customers are no longer satisfied with the old model of buying a timeshare for one week a year at a fixed time and fixed location.

Instead, operators in Asia are being forced to sell point-based timeshares that allow consumers to reserve time on a daily basis at a wide range of properties.

'They want to be able to come and stay for a day, rather than a week. It's almost as flexible as a hotel room,' Young said.

http://www.ameinfo.com/170653.html

Over 50s are becoming "more adventurous" with their holiday choices, according to the Association of Independent Tour Operators (AITO).

AITO claims this reflects a significant change in holiday habits among the 50 plus age group, who have more disposable income than they may have done in the past.

Figures from the Office of National Statistics indicate that the number of UK residents taking trips to North America increased by two per cent during the 12 months to July 2008.

Derek Moore, chairman for AITO, suggested that the older generation are among those likely to be travelling more because they are "more self sufficient".

He said: "When they were growing up a holiday was looked upon as being once a year, a treat or a domestic holiday or somewhere very much close to home.

"Now they are becoming a bit more adventurous with their holidays; the southern hemisphere is much more popular like South Africa, Australia, New Zealand and this time of year, south-east Asia and USA are always going to be popular spots."

http://www.millenniumdirect.co.uk/ourservicesnewsarticle.aspx?ArticleID=18811962

Brits are prepared to reduce spending on eating meals out and drinking given the current economic climate, but say they’ll use the money saved to help pay for their holidays, according to the results of a new study.

Approximately 25 per cent of those surveyed claim that they are adapting their spending habits and compromising on their number of nights out, it was found in a recent poll of 1,500 Britons conducted by lastminute.com.

Forty-four per cent of the respondents said they are prepared for less comfort in their travel and would put up with less legroom on budget carriers, to ensure that they can afford to get away on holiday, and over 25 per cent are prepared for a higher level of inconvenience, such as making flight connections that would reduce the cost of airfare.

Of parents travelling with school-aged children, one in eight said they took their children out of school to benefit from lower holiday prices.

It was also found that 25 per cent of those polled consider holidays to be more important than ever in uncertain economic times.

Thirty-five per cent noted that planning for future holidays ‘motivate’ them through current financial troubles.

Forty-four per cent commented that the Internet was making it possible for them to be more spontaneous in booking holidays. This was true across all age groups, with 14 per cent responding that they had booked a holiday online a week or less before departure.

One-third of the respondents believe they are more adventurous about choosing a holiday destination now than they were in the past, due to options available on the Internet.

Meanwhile, 23 per cent responded that they were bored with traditional holiday packages and are looking for a greater level of adventure.

http://news.carrentals.co.uk/brits-say-holidays-more-important-than-ever-3423864.html

We're sorry to disappoint those American Airlines flight attendants who were looking forward to informing passengers that they had to quit surfing porn sites while flying American.

But American has done an about-face. The carrier announced Tuesday that it will work with Wi-Fi vendor Aircell to put a filter on the Internet when passengers use American's new Wi-Fi service.

Originally, American said its flight attendants would keep an eye out as they walked the aisles. If they saw anything inappropriate on a computer screen, they were to tell the passenger to knock it off.

That's what American wants its flight attendants to do when, for example, they see a passenger watching an adult DVD on a computer.

This was not what most flight attendants thought they had signed up for. The Association of Professional Flight Attendants, in an Aug. 29 hotline, told members:

Your APFA leadership is in contact with American management to discuss the ramifications of American's decision to restrict a passenger's ability to place Internet phone calls while affirming no intent to filter what might be obscene content.
Late Tuesday afternoon, American put out a press release:

Based on the feedback of our customers and employees, American Airlines is working with Aircell to implement technology to filter pornographic content over the Gogo inflight Internet service.
Since the launch of Gogo, American has not experienced any reported incidents of customers viewing inappropriate content via the Gogo service. However, we believe this is an appropriate measure to take.

More details will be forthcoming as the company finalizes its plans.

In other words, American Airlines' passengers won't be able to look at Kyla Ebbert on their computers.

http://aviationblog.dallasnews.com/archives/2008/10/american-airlines-to-put-on-po.html

Fuel makes up about 40 percent of the total budgets of most major airlines. And in the past year, as the price of oil -- and in tandem, the price of jet fuel -- has skyrocketed and surpassed labor as their biggest expense.

But since hitting a record in mid-July, the price of crude has fallen by roughly a third amid slowing demand and growing economic concerns. That's easing the near-term worries of major airlines, but many are still skittish that prices could go back up.

Many airline executives also point out that fuel is still costing them more than a year ago. Oil prices, despite the pullback, are about 25 percent higher than this time last year.

During the second quarter, US Airways spent $1.1 billion on fuel and related costs -- up 65 percent from a year earlier. Delta shelled out $1.68 billion, compared with $1.11 billion a year ago.

Chairman and Chief Executive Gerard Arpey of American Airlines parent AMR Corp. has said falling oil prices won't guarantee falling ticket prices. He noted that even when the airlines were posting profits, they lagged other companies in return on investment. All U.S. carriers, except for Southwest Airlines Co., lost money in the first half of the year. Southwest was spared mostly because of fuel hedging -- financial transactions it uses to lock in lower prices for most of its fuel.

But while oil prices have a huge impact on airfares, they are just part of the story.

Another huge driver for airline fares is the classic balance of supply and demand, noted Bob Harrell of New York-based travel and aviation consulting firm Harrell Associates. And although demand is down this fall as consumers pinch their pennies, he said, supply is lower as the major carriers' capacity cut plans are implemented. Capacity is expected to go down even farther later this year and early in 2009, as airlines' long-range plans go into effect. So the airlines still have a bit of the upper hand when it comes to keeping prices where they are, Harrell said.

However, Harrell suggests that as the financial crisis unfolds further, fares could be readjusted if the economy gets worse and demand falls off.

"When that happens, people aren't selling cars, they aren't buying refrigerators and they aren't flying," he said.

Another factor is timing. Airlines generally are very slow to adjust fare prices, Harrell said, and are likely waiting to see whether oil prices stay under $100 per barrel for a while before considering any possible rate adjustments.

"They know they can't make money where oil prices were at this summer," Harrell said.

He notes that sustained oil prices below $100 would be beneficial for the airlines and if oil falls further, the price relief might trickle down to benefit consumers.

"They'd love $80 (per barrel oil), but I think certainly, with oil prices around $90 or $100, the airlines feel comfortable with current pricing levels."

http://edition.cnn.com/2008/TRAVEL/10/07/airfares.question.ap/

The American Resort Development Association (ARDA) offers the following tips for consumers considering their vacation ownership options:

To enjoy the benefits of vacation ownership, or timesharing, consumers make a one-time purchase of a share of furnished resort accommodations, choosing from a wide range of products designed to suit any lifestyle. Vacation owners enjoy spacious accommodations, a variety of on-site amenities and services, and flexibility in their travel options through vacation exchange. By trading some or all of the time they own, consumers can take advantage of different vacation experiences at thousands of resorts around the world.

All shared ownership resort interests come in two basic forms: a deeded interest in real estate and a right-to-use, or non-deeded, interest. These two basic forms are called by many names -- some required under state law and others adopted for marketing purposes. However, the majority of shared ownership resorts today convey a use right backed by a deeded interest in real property -- by whatever name it may be called. Deeded real estate interests are usually called "timeshare estates" under state law, and non-deeded interests are "timeshare uses" or "timeshare licenses" officially, but may also be called "memberships."

Timeshares. Traditional timeshares regardless of whether they are backed by a deed or not, allow buyers to purchase an increment of time, typically one week, in a condominium or apartment type of furnished accommodation. Timeshare owners receive either a fixed week or a floating time reservation arrangement that may vary by unit type and season. More than two-thirds of timeshare interests today are deeded.

Fractional/private residence club. These owners typically purchase accommodations with related use rights in increments of more than two weeks and sometimes as long as three months (a quarter share). This type of ownership is almost always deeded and is a more affordable alternative to a second home. Owners benefit by avoiding the ongoing maintenance responsibilities of an entire second home, and usually enjoy a high level of service as part of the product. This product segment is considered the luxury tier of shared ownership.

Vacation club. This name generally describes a company or related group of resorts that offers consumers vacation accommodations in more than one location. When a consumer purchases an interest in a "vacation club," it is either deeded or non-deeded like any other vacation ownership interest. If the vacation club interest is deeded, the consumer is usually said to own at a "home" resort at which he or she has a priority right of use. Even if the vacation club interest is not deeded, the consumer could still have a home resort or could have a "membership" in the club that entitles him or her to use any of the club's component resorts. Vacation clubs offer highly flexible use of multiple resorts, subject to certain advance reservation priorities and rules. Some well-known timeshare companies market their properties as a vacation club that provides their consumers with both a deeded interest in real property and multi-site flexibility.

Exchange. An exchange company allows existing timeshare owners to trade their timeshare interests for comparable accommodations and travel-related services. Most resorts are affiliated with an exchange company, and many resort companies also offer an internal exchange mechanism that allows owners to exchange to resorts within their resort group. If an internal resort exchange is mandatory or long-term, it is usually considered to be a vacation club. Fractional and private residence club resorts may offer exchange opportunities for their owners as well. Some exchange companies have a special program for these kinds of resorts.

Points. Points are another aspect of vacation ownership that allows consumers to use their vacation product in a highly flexible fashion. Points are simply a numeric representation of the relative use management value of the timeshare or fractional interest purchased--which again can be either a deeded or non-deeded interest. There are a few companies that offer "pure points" without the sale of an underlying specific timeshare interest. By purchasing points in any of their formats, the consumer can use their points to reserve different combinations of accommodation sizes, locations and seasons, and may also be able to acquire a variety of travel services depending on the rules of the timeshare company. Think of points like tickets--symbolic of the product or service being used or reserved.

Vacation ownership is highly regulated. The various products described above must comply with strict standards set forth in state timeshare laws as well as several federal laws before being offered to consumers. For nearly 40 years, ARDA members have worked with federal and state governments to support consumer protection legislation. As a result, purchasers have a five- to seven-day rescission period in most states that allows them time to cancel a purchase contract for any reason and get their money back. Further, most state timeshare laws require truth in advertising, protect purchasers' timeshares from the developer's debt, and assure that purchasers receive detailed information about the timeshare plan they are buying, including the type of timeshare interest, how to use the product, management and budget information and much more. State timeshare laws usually apply whether the vacation product is called a timeshare, fractional, private residence club, vacation club or points product.

Know what you are buying. ARDA and its member companies urge consumers to know what vacation product they are purchasing by reading the contract carefully and asking questions about their vacation purchase. For more information and consumer tips, please visit ARDA at http://www.arda.org/.

The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC).

http://www.timesharesdaily.com/index.php/20081007216/Latest/Timeshare-Industry-Encourages-Travelers-to-Explore-Timeshare-Opportunities.html

Owners Perspective magazine, the independent global publication for existing owners and prospective buyers of all shared ownership products which launched last week with an initial subscription base of 5,300 can now confirm the support of the industry’s largest exchange company to help extend its reach in delivering valuable content to consumers.

“As my parents were timeshare owners, I came into the industry knowing what a great product timeshare is. Surprisingly, the majority of holidaymakers remain unaware of the excitement, the lifestyle and the travel opportunities that can be enjoyed through timeshare ownership.

Owners Perspective is the first independent consumer publication dedicated to timeshare and I’d like to congratulate Paul and Sharon Mattimoe for having the foresight to share their passion for this great holiday lifestyle with a wider public.

Paul and Sharon have succeeded in making a tremendous success of the business-facing publication, Perspective Magazine. It’s clear from the inaugural issue of Owners Perspective they are bringing the same energy, enthusiasm and understanding of timeshare to readers of the new title.

The value of having the independent voice of Owners Perspective is immeasurable. The magazine will provide a trusted, informative and lively channel of communication, while helping to generate a strong sense of community among owners to help them to get the most out of their holidays.

Resort development and exchange companies will also benefit from having another channel from which to learn yet more about what owners and members want in their holiday. And, as timeshare is constantly developing, Owners Perspective will have an important part to play in explaining the benefits to the customer of the exciting new shared-vacation ownership products coming on to the market.

We at RCI are on a mission to inspire our members to discover the world of adventure and wonderful experiences an investment in a lifetime of shared-vacation ownership holidays represents. We very much look forward to helping Paul and Sharon to make Owners Perspective the success it deserves to be.”

The first edition of Owners Perspective magazine has received fantastic reviews across the globe, and in interviews creator Paul Mattimoe, CEO of Perspective International Ltd explains “The first edition has allowed for a successful launch, but it is really just the shell of a magazine at the moment – it has good content, but it’s personality will be injected over the first few months as the readers get involved and tell us what they want to have in their magazine.”

On the recent announcement regarding RCI’s support he says, “We enjoy a great relationship with Group RCI via our business publication, Perspective Magazine, but to have their support in our new venture into the much wider field of the consumer is very exciting and will help us to accurately deliver essential information regarding the industry, as well increasing our reach globally.”

The high quality online version of Owners Perspective boasts free subscriptions to existing owners and prospective buyers of timeshare, fractional ownership, destination clubs, private residence clubs and investment real estate.

For more information visit www.ownersperspective.com

http://www.timesharesdaily.com/index.php/20081006214/Latest/RCI-Confirms-Support-of-New-Consumer-Publication-for-Shared-Ownership-Industry.html

Amid the world’s financial turmoil, the international timeshare business is taking a beating.

On Monday Wyndham Worldwide announced it was restructuring its timeshare business and cutting back on new timeshare developments. In a public statement, the company said it will “refocus its sales and marketing efforts on consumers with higher credit quality” and look for ways to “enhance the cash flow” of the timeshare business.

“Right or wrong, timeshare spooks investors,” Thomas Weisel Partners analyst Jake Fuller told the Associated Press.

Wyndham’s announcement came just a few days after industry bellwether Marriott International reported timeshare contract sales fell 13 percent in the recent quarter. In addition to credit issues, Marriott’s timeshare business was impacted by “the increasingly negative perceptions of residential real estate,” the company reported in a public filing.

Marriott typically finances timeshare purchases and then sells the loans to Wall Street as securities—a difficult proposition these days, the Washington Post notes.

“Our timeshare business has certainly been far more impacted by the current financial environment than our core lodging business,” Marriott International CEO J.W. Marriott, Jr. said in the company’s statement. “Tight credit, soft consumer spending and a difficult securitization market have lowered our expectations for the fourth quarter and 2009. “

http://blogs.iht.com/tribtalk/properties/roof/?p=532