http://www.bbc.co.uk/radio/aod/radio4_aod.shtml?radio4/youandyours

Broadcast 27 Feb & available on line till March 6

£100k for Ryder stay...

WEALTHY golf fans have forked out more than £100,000 to secure a stay at the Gleneagles Hotel during the Ryder Cup - in eight years' time.

Hundreds have booked a week in a luxury home next to the hotel's golf course, which will host the famous Europe-America clash in 2014.

The catch is they book the same week every year on a timeshare deal until 2058.

Dates for the 2014 match haven't been confirmed, so some fans have bought up to three weeks at £37,000 each to guarantee they'll be there.

The hotel's George Graham revealed there had been demand from all over the world for the plush homes.

Mr Graham said: "There's been considerable interest and some avid golfers have been keen to buy a week to coincide with the Ryder Cup.

"They may wish to attend the event, or rent their property out for the tournament."

Actors Dougray Scott and James Nesbitt have booked up timeshares at the hotel.

Mr Graham added: "I'm sure there will be lots of very nice people here for the Ryder Cup."

Codiac RCMP are investigating a contest draw at the East Coast Women's Expo that one winner says is more like a scam.

Genevieve Robichaud attended the expo earlier this month, where she filled out a ballot for a contest that promised a trip to Florida as its top prize.

A week later, she got a call that she'd won. All she had to do was pay her own airfare to Florida to hear a pitch on timeshare ownership.

Total costs were going to be more than $1,000, says Robichaud.

"It was just a big scam. I did not win that trip and everybody could go and be part of this little contest or whatever," says Robichaud. "I'm not even sure I'm going to go next time they have a women's expo."

Heather Gunning, who represents the expo, says she sympathizes with Robichaud and others who have complained. But she says the RCMP has told her the company that ran the contest is above board.

"Unfortunately, I can't speak for the individuals that were upset. I'm sorry that they're upset and I would kind of hope that they come next year…and check out the trade show," says Gunning. "Was it just that particular booth, or was it the whole trade show?"

The company that held the draw is Bluegreen Corporation, a Florida-based Fortune 500 firm. Bluegreen develops, markets and sells planned residential, lake and golf communities mostly in the southeastern and south-central United States.

It has not offered any apologies to contest winners in Moncton.

Bluegreen spokesperson Lisa Thornhill says people who enter the contest give permission for the company to call when they sign an entry form.

With no insurance settlement in sight for the $20 million in damages from Hurricane Ivan, Morritts Tortuga Club and Resort has gone into arbitration with its insurance company, Lloyds of London.

The developer of the resort, David Morritt, said the insurance company has been underestimating the figure and the resort is now negotiating for a figure it believes is more appropriate.

“We have had professional people advise us on the figure and it is too low,” said Mr Morritt.

“Over the last 16 years, I have never missed an insurance payment and 16 months after the hurricane we still don’t have a settlement.”

In spite of the lack of insurance funds the resort has been rebuilding with a priority on its four ocean front buildings. One oceanfront building just needed renovations and is expected to be opened in April.

The foundation for another building has started while the other two are expected to get started over the summer. These three buildings will have two additional floors to make up five floors. Construction has also started on the dock.

Morritts Director of Operations, Rick Lohr, said the shopping centre is almost completed and is expected to open in late March or early April. Tenants will include Foster’s, Red Sail Sports, Ye Ole English Bakery.

The shopping centre is a positive step and will make an economic impact on the North Side and East End districts, he said.

“We are doing this without a settlement of insurance,” said Mr Lohr.

“Nothing has stopped as far as the progress of rebuilding the resort. Our sales have been good and people are transitioning from the old buildings to the new type of buildings.”

Nevertheless, the owners of the popular resort could still face going to court as numerous timeshare owners are disgruntled about how they say the Morritts Tortuga has been running its finances.

A special assessment fee of US$5.74 million had been charged to timeshare owners to cover the 15 percent deductible on the $20 million claim to the insurance company. Although most of those fees have been paid, numerous owners are claiming that actually the fee is not their responsibility as part of their purchase agreement and should be paid by the developer.

Furthermore, it was the developer’s responsibility to carry adequate insurance coverage. And since the industry standard throughout the Caribbean is 5 percent, this is a sign the property may be underinsured, which they say is a clear example of financial mismanagement.

An attorney with Appleby Spurling Hunter is trying to get the resort to hand over financial and insurance records as well as details of the building plans.

Timeshare owner Frank Woodruff said that so far Morritts has not come up with any information.

“Without an insurance settlement yet, our concern is what are they doing with the money that has been paid in maintenance and special assessment fees,” said Mr Woodruff.

“And with US$20 million in damages what are they going to do if an insurance settlement goes through and there is not enough to finish rebuilding? If they are using the money from sales and transitions fees and the money has already been spent then we are going to have a shortfall.”

He said another major concern is that many timeshare owners have elected not to upgrade to the new oceanfront buildings and pay the transition fees. That leaves too many timeshare owners to use the remaining building that was renovated but not rebuilt. Consequently, they will not be able to use their timeshare in a timely fashion.

Mr Woodruff said the situation is exasperated because the resort was closed for most of 2005 so many timeshare owners have banked their weeks to be used for another year, which will only increase the backlog.
According to some timeshare owners, the attorneys for Morritts Tortuga have said any substantial legal fees that it accrues will be passed on to the timeshare owners in another special assessment fees.

However, some of the disgruntled timeshare owners have said they are not going to back off. Some have sought advice from timeshare owners involved in the Indies Suites case.

Mr Woodruff added that many have visited the resort in the last few months and had a great time.

“But after they have returned home, a few weeks later they realise they are going to be stuck with more special assessment fees. We need some answers and if we have to go to litigation then that is the way it has to go,” said Mr Woodruff.

Mr Lohr said the issues with timeshare owners are being addressed through their attorneys.

“There are always going to be people who have a negative attitude, but for the most part our owners are behind us. They have been supportive. The whole process is a good thing,” said Mr Lohr.

A Breckenridge developer is teaming with Vail Resorts Development Co. to build about 140 condominiums at the base of Peak 7 at Breckenridge.

Grand Timber Development Co. will build 96 timeshare condominiums in two buildings on about 5 1/2 acres north of the Independence Superchair. The project also includes 2,310 square feet of commercial space and 6,680 square feet for skier-service facilities, said Mike Millisor, who owns Grand Timber with his brother Rob and another partner, Mike Dudick.

The project also includes a pool, hot tubs and play areas for children.

The Vail Resorts component includes up to 45 condominiums in a lodge on 14 acres, 500 square feet of retail space and 2,500 square feet of skier-service facilities, said Paul Witt, communications manager for Vail Resorts Development.

All residential parking will be beneath the five-story buildings. Pricing has not been determined.

Grand Timber plans to break ground in spring 2007 and have its condos open in time for the 2008 ski season, Millisor said. Witt was not sure when Vail Resorts would break ground.

Breckenridge Mayor Ernie Blake said he's pleased that Vail Resorts selected a local team to participate in the project. A number of national partners, including Marriott, pursued the deal with Vail.
"I couldn't be happier that they chose the Millisors," Blake said. "They put out a wonderful product the town can be proud of, and they give back to the community."

The Millisors have been in the timeshare business in Breckenridge since 1985, when they developed the 49-unit Gold Point complex on Mount Baldy.

The company started selling ownerships in its 159-unit Grand Timber Lodge in 1998. It's 80 percent sold out, Millisor said.

"The vast majority of our customers come from the Front Range," he said.

Fire officials still do not know the exact cause of the fire that swept through one unit of a timeshare complex in Fairfield Glade Monday morning but quick response by three area fire departments kept the blaze from spreading to adjacent units.

It was mid-morning when Fairfield Glade Security was contacted about smoke coming from one of the units at Kensington Woods off Fairfield Boulevard and a security officer was dispatched to the scene and confirmed that a working fire was under way.

Fairfield Glade Fire Department responded and set up a water supply to fight the fire and started measures to prevent the fire from spreading to the adjacent unit. When firefighters arrived, fire had already broken through the exterior walls and backside roof.

A call for mutual aid was sent out to the Cumberland County Fire Department and moments later Crossville City Fire Department with both departments sending multiple units and manpower.

Fire departments remained on the scene for several hours. While cause of the fire remains under investigation, it is believed the fire started in a bedroom of the time-share unit that had been occupied the night before by three people.

The occupants had already checked out and were gone by the time the fire was discovered, Fairfield Glade interim Fire Chief Bob Citkovic told the Glade Sun.

No one was injured and the adjacent unit only suffered slight smoke damage. Approximately 50 firefighters responded to the fire.

MBA holder buys $9,000 time-share membership ... Firm offers to help sell his membership but...

He paid $9,000 for a time-share membership plan in 2001.

But to terminate the membership, sales manager K B Ong paid a mind-boggling $84,000 fee to a time-share resale company to help him do so.

That's almost 10 times what he paid for in the first place.

What drove Mr Ong, an MBA holder and engineering graduate, to make such a transaction?

It's like buying a car for $50,000 and forking out another $500,000 to scrap it.

Now, several months after he paid the selling fee, he realised that he could have been taken for a ride because he has yet to get rid of his time-share membership with Asian Travel Club, or ATC. (See report below)

POLICE REPORT

Mr Ong, 35, has since lodged a police report alleging that he was cheated. He also lodged a complaint with the Consumer Association of Singapore (Case), against the resale company, which we are not naming for legal reasons.

Mr Seah Seng Choon, Case's executive director, said: 'The consumer wants the resale company to provide documentary proof that it has processed his request to sell or terminate his time-share membership.

'So far, the company is unable to provide such proof to Mr Ong, who has the right to ask for such documentation.'

The police are viewing the current case as a civil dispute.

The resale company declined to comment when approached by The New Paper on Sunday.

When asked why he paid almost 10 times more to get rid of something that costs less, Mr Ong initially maintained that he had not made a 'stupid' decision.

He said: 'It's not like I paid the $84,000 in one go. It was paid on several occasions over a two-month period.

'I was also not given time to think because the company was pressuring me to make immediate payments each time. I felt I had to pay because I was stuck, having already paid so much.'

Mr Ong also claimed that the company had told him that he could get partial refund of the $84,000 if his membership was terminated successfully.

'The boss said he would take up legal actions on behalf of me and other similar consumers against ATC,' he said.

'I also felt misled when he told me that some time-share consumers who tried to terminate their memberships had been sued for more than $50,000 by time-share companies.'

But Mr Ong later conceded that he had been 'foolish' to have paid so much without consulting others.

The bachelor said only his younger brother knows about this matter now.

'I'm already feeling very down. The last thing I need is for others to pass sarcastic remarks about what I have done,' Mr Ong said.

He recalled that the resale company contacted him on 2 Jun last year, offering to help him terminate the membership for a fee.

MET THE BOSS

He said he has no idea how the company got his contact number.

Mr Ong visited the resale company the next day and after a discussion with the boss, he agreed to take up its services.

He wanted to terminate his membership because of hectic work commitment. He did not make use it even once. His membership allows him to choose accommodation from a variety of countries such as China, France and New Zealand.

Mr Ong said he paid $6,000 that day.

But the next day, the resale company again asked him for a payment of $3,000.

He paid the resale company $5,000 on 1 Jul after it told him that ATC had asked for more compensation for cancelling his membership.

On 4 Jul, 6 Jul and 9 Jul, Mr Ong made two payments of $15,000 and a third of $20,000 respectively to the resale company for the same reason.

The last payment of $20,000 was made on 7 Aug.

He said the resale company claimed that ATC had demanded the money as cancellation penalty for another time-share membership plan that he had signed with them.

ATC told The New Paper on Sunday that Mr Ong has only one membership with it.

Mr Ong said he made all the payments by cheque, which he gave in person at the resale company's premise.

He showed The New Paper on Sunday the receipts issued by the resale company. He also has an agreement, titled Acknowledgement of Temporary Transfer, that he signed with the firm.

Mr Ong said the resale firm had showed him several 'confidential' documents of other clients who had taken up its services and managed to terminate their time-share membership plans successfully.

He said he was also told on several occasions by the boss that he should not contact ATC directly because it might jeopardise the termination process.

Mr Ong said he only suspected that something was wrong when he received a letter last September from ATC.

The letter warned its members about taking up the services of several companies claiming to be able to help them terminate, sell or rent their time-share membership.

The letter named the resale company he had engaged as one of them.

Mr Ong said: 'The letter made me realise that I was still an ATC time-share member. This showed that the resale company had not terminated my membership as promised.'

He then asked Case for help.

Mr Seah said the resale company refused to provide documentary proof when the consumer watchdog asked for it on behalf of Mr Ong.

He said: 'We feel strongly that the company should refund the consumer the $84,000.

'We have asked the company to attend a mediation session and we are still waiting for its response.

'Should the matter remain unresolved, the consumer should consider commencing civil action to recover his money.'

The impasse has frustrated Mr Ong, who said the $84,000 was almost 90 per cent of his savings.

He said: 'I want the company to show me the documents. If everything is above board, then I will take it as an expensive lesson.

'But if not, I will seek advice from lawyers on what recourse I have.'



--------------------------------------------------------------------------------
TIME-SHARE FIRM: Nobody contacted us

ASIAN Travel Club told The New Paper on Sunday that it has not been approached by anyone to terminate or repurchase Mr Ong's membership.

Miss Irene Tee, ATC's director of operations, said her company has posted notices on its website and sent letters last September to its members, warning about dubious time-share resale companies.

The company had received feedback that its members were contacted by time-share resale companies which claimed to have ready buyers for ATC memberships.

Miss Tee said: 'Members have told us that some of these companies claimed that they were our authorised resale agents when, in reality, we have none.'

She added that some members were also induced by these companies to terminate their memberships, and have allegedly been duped by way of 'incredulous cashback offers for their memberships'.

Miss Tee said: 'Alarmingly, we were told that some of these companies even showed members photocopies of letters on dubious-looking letterhead of legal firms which purportedly act for them.'

Mr Ong claimed he was misled by the resale company into thinking that he might face legal action from ATC if he were to cancel his membership himself.

But Miss Tee said ATC has 'never taken legal action against any of our members'.

On the action by the resale companies, she added that ATC has referred some of the complaints to its lawyers for advice.

She said: 'The operations or modus operandi of these companies were recently highlighted by Case in the press and we whole-heartedly support Case's position on the matter.'

LAWYER SAYS

On Mr Ong's legal recourse against the resale company, lawyer Hri Kumar, a director of Drew & Napier, said: 'If you pay a company some money in exchange for something to be done for you, and you later find out that the company did not do it, you can, in the simplest term, ask for your money back.

'So if it can be proved that the company did not take steps to terminate the time-share membership, the consumer should have his money back.'

Mr Hri added that if the resale company had accepted the consumer's payment without the intention or ability to provide the service, it may be a cheating offence as it might have 'induced the consumer to pay the money by dishonest means'.

Case said that under the Consumer Protection (Fair Trading) Act, Mr Ong could file a claim against the resale company for alleging that it was in contact with ATC when this might not be the case.

The CPFTA was enacted on 1 Mar 2004 to curb unfair business practices and enhance protection for consumers.

Time-share companies have topped the list of breaches of the CPFTA since its enactment till end last year, reported The Straits Times.

These companies made 355 breaches under CPFTA, which is more than one-third of the total number of breaches at 977.

Timeshare Industry Outraged by Sensationalist Daily Express

Timeshare industry leaders have expressed outrage at what they consider to be a sensationalist and unfair article printed in The Daily Express on 7th February 2006. Their question: “who exactly was: ‘CONNED, BULLIED AND KILLED FOR A HOME IN THE SUN”?

The piece in question, penned by Caroline Virr, focuses exclusively on the Timeshare industry and contends that “Britons searching for their dream homes [in Tenerife] have become victims of a new gangland turf war”. The feeling amongst senior industry figures is that it is just a cheap piece of journalism riding on the back of the John “Goldfinger” Palmer saga of some years ago. There is absolutely no evidence whatsoever of any ‘gangland turf war!’

Speaking from Los Cristianos in the south of Tenerife one local journalist said: “again this is just a lazy member of the press applying the “gangster” angle to the Timeshare industry in order to manufacture a story and to sell more papers. Ms Virr has taken the testimony of two unhappy Timeshare buyers - overlooking her own assertion that “so popular is it that a million Britons now own a timeshare” - and has used their alleged dissatisfaction as a framework in which to fictionalise a world where innocent people are caught up in a world of villainy and danger. Whilst there may well be some organised crime in Spain and the Canary Islands, the gangland scenario which The Daily Express portrays simply isn’t true of the modern, regulated Timeshare industry”.

The idea that Ms Virr has added her own spin to a relatively mundane situation is certainly a notion that can’t be overlooked. Through the words of two disgruntled Timeshare owners she paints a picture liberally daubed with evocative imagery which is clearly calculated to show the timeshare industry in the worst possible light. In her illusion, the “corrupt and shadowy world of timeshare” is a “sinister” place, “rife with bribes, bullying and threats of violence”. “Victims” are routinely “plagued with menacing phone calls” that supposedly follow up the “unscrupulous sales practices” and Godfather like offers that they “literally could not refuse”.

However, according to Ms Virr it was not the quality or value for money that compelled her subjects to purchase timeshare, rather it was the sedative Rohypnol - the “date rape drug”. This idle speculation is perhaps the catalyst for the industry’s outrage.

As one prominent sales manager put it: “I’ve worked in the industry all of my working life; I know all the players and how they operate. To suggest that any company would even contemplate drugging a client is completely ridiculous. The fact that this journalist is suggesting that any Timeshare company would endanger someone’s health simply to get a sale just reflects on her own stupidity. The Timeshare product is good enough to be sold on its own merits– we don’t even allow alcohol in our sales offices!

“The whole article was ludicrous. In saying that people are “summoned to meetings” and drugged, The Daily Express insults the intelligence of everyone, including their own readers – many of who are happy Timeshare owners. The journalist has taken a couple of unhappy clients - every industry has them - and linked their story to the tragic deaths of a couple who had worked in the industry”.

And this link does appear to be tenuous at best. Ms Virr argues that the element that “makes this tale even more sinister is that it coincided with the murders of British couple Billy and Florence Robinson”.

This last claim is perhaps the most obvious ingredient that highlights the blatant opportunism underpinning Ms Virr’s article. Because the raw material of her story does not merit a double page spread in a national newspaper, she has gone for the easy option; riding piggy back on an old story that still has enough legs to command the attention of the paper’s readership.

Yes, two people were murdered in Tenerife earlier this year. Yes, they had at one time worked for the convicted fraudster John Palmer. But how these facts link up with the disgruntled moaning of two retired couples is anyone’s guess.

Another timeshare worker said of the article: “they [The Daily Express] have made Tenerife out to be some sort of Wild West place and said that ‘fear has been spreading like wildfire’. Most of the people I know who are involved with Timeshare live normal lives without any fear. Things just aren’t like the way the paper made them out”.

This sentiment seems to run throughout the expat community. Rather than living in the “closed world” described by Virr, most have assimilated into the local communities, starting families and living stable long term lives on the island they have chosen to call home.

The old image of Timeshare perpetuated by Ms Virr has largely disappeared with the emergence of trade bodies like the OTE, and the arrival of the big boys like Marriot, Disney and Hilton. There are still a few shady companies around, but most of them have now moved into products referred to as ‘holiday packs’. These new products are often confused with Timeshare as they are sold in a similar way. Some companies are definitely mis-selling these holiday packs and are already receiving serious scrutiny from the authorities in both the UK and Spain.

In essence the real thrust of people’s annoyance is with Caroline Virr’s vilification of Tenerife, portraying it as a dangerous hotbed of organised crime rather than the safe and civilised place where they live their daily lives. On behalf of the people who depend on the timeshare industry for their livelihood, including the thousands of locals employed in the sector, one local “tout” had this message for The Daily Express: “people like this journalist make me sick. They call us crooks and liars. Well maybe they should look in the mirror. No one has been conned, bullied and killed for a home in the sun. We are sick of idiots like this woman who comes here for five minutes and then writes a complete load of rubbish about the industry and the island”

The OTE today released it's yearly report on timeshare titled -

"TIMESHARE MATTERS - A strategic overview of traditional timeshare and new shared ownership products and services by the UK chapter of the Organisation for Timeshare in Europe"

Download from [url="here"]http://www.timesharetalk.co.uk/otereport.doc (MS Word Doc)

A high pressure sales operation marketing timeshare on narrow boats has been wound up following an investigation by the Department of Trade and Industry (DTI).

Charter International and its successor business, Charterline, sold over 250 timeshares, ranging from £3,000 to £9,000 for a week each year on a narrow boat. In total they took over £1million in sales receipts. The company owned six boats moored on the Thames at Chertsey, Surrey.

Staff made a series of misleading promises in a bid to win customers, according to the DTI. The company had no means of supporting their claims.

The directors of the two companies were Joanne Simmonds and Stewart James Tait. Jeffrey Armstrong, an undischarged bankrupt, was the sole recorded director of Countrywide, an associated company set up to provide telemarketing services.

The High Court in London heard that Charter International continued to trade while insolvent. The company fell into financial difficulty in July 2004, severely exceeding its overdraft limit. However sales staff continued to sign up new members, even though they no longer had any boats to offer.

The DTI probe uncovered unpaid debts owed to the Inland Revenue as well as unpaid VAT bills. There were also numerous unattributable cash withdrawals made from the Charter International bank accounts throughout its trading history.

Consumer minister Gerry Sutcliffe said: “Regulations protecting consumers have largely driven the cowboys out of the UK timeshare market.” However he warned the public to be on their guard against unscrupulous sales tactics.

Hilton Hotels expects tapering US growth this year following a stretch of robust business, but it is readying for overseas expansion through pending purchase of Hilton Group's international hotels business.

The £3.3bn ($5.8bn) acquisition, which reunites the two brands that were separated in 1964, is scheduled to close in first quarter. A merger would allow Hilton to compete with global hotel operators such as Marriott and Starwood.

Hilton on Tuesday projected 8-10 per cent growth in revenue per available room (Revpar) this year at comparable US owned hotels and margin growth of 100-200 basis points.

By comparison, the Beverly Hills-based hotels group said Revpar growth - a key industry indicator - last year reached 11.9 per cent and margins grew 180 basis points to 28.8 per cent.

Although revenues from Hilton's timeshare business rose 24 per cent to $130m in fourth quarter, profitability fell 14 per cent as the company moves to selling units in Orlando and Las Vegas that are more costly to build than those in a refurbished property in Hawaii.

Shares in Hilton dipped 1.7 per cent to $24.86 in midday trade on Tuesday.

Yet Hilton, whose brands include Conrad, Doubletree and Hampton Inn, continued to see higher increases in room rates drive gains in Revpar. In 2005, average daily rates rose 8.7 per cent increase to $178.35.

Hilton on Tuesday said fourth-quarter operating income rose 15 per cent to $193m compared to the same period in 2004. Revenues increased 3 per cent to $1.083bn and quarterly net income jumped 65 per cent to $105m.

The company's 2005 operating income rose 22 per cent to $805m over the previous year on a 7 per cent increase in revenue to $4.437bn. Full-year net income was $460m versus $238m in 2004.

Chicago-based Global Hyatt Corporation announced the name of the Company’s new upscale extended stay brand as Hyatt Summerfield Suites.

The announcement comes on the heels of Hyatt’s recent acquisition of the upscale extended stay brand and franchise system of 21 Summerfield Suites branded hotels and six owned assets from partnerships between affiliates of The Blackstone Group, the Gencom Group and Lehman Brothers. The transaction was completed on January 5, 2006.

With its acquisition of Summerfield Suites, Global Hyatt continues the vertical integration of its portfolio, now expanding its brand presence into the upscale extended stay category. “Building upon the past success of Summerfield Suites, the premier extended stay product in the industry, we will add the Hyatt name to Summerfield Suites brand and take its industry leading track record to new heights,” said Jim Abrahamson, Hyatt’s senior vice president of acquisition and development. “The welcome addition of Hyatt Summerfield Suites to the Global Hyatt family further enhances our portfolio, which now includes nearly 750 hotels worldwide.”

The first Hyatt Summerfield Suites properties will be converted in late 2006 following renovations. Global Hyatt will develop an extended stay prototype concept for new build hotels and new brand standards criteria for converting existing Summerfield Suites hotels to the new Hyatt-branded extended stay product. Similar to Hyatt Place, the new concept will feature an emphasis on exciting new interior and exterior design, forward thinking technology and unique applications of sensory branding. Details of these plans are now being developed.

About Global Hyatt Corporation
There are 216 Hyatt branded hotels and resorts (over 90,000 rooms) in 43 countries around the world, operating under the Hyatt®, Hyatt Regency®, Grand Hyatt® and Park Hyatt® brands. Currently, there are an additional 28 Hyatt hotels and resorts under development, including 10 new hotels in China. Hyatt Corporation (domestic U.S., Canada and Caribbean hotels) and Hyatt International Corporation (international properties) are subsidiaries of Chicago-based Global Hyatt Corporation. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. operators of the Hyatt Vacation Club (timeshare and fractional residential product), Hyatt Equities, L.L.C. (hotel ownership), Select Hotel Group L.L.C. (which owns, operates and franchises AmeriSuites hotels, Hyatt Place and Summerfield Suites hotels) and U.S. Franchise Systems, Inc. (which franchises Hawthorn Suites, and Microtel Inns and Suites).

Leisure Real Estate Solutions, a new organization within the Cendant Vacation Network Group, has appointed Kevin Wallace to the position of managing director, Ragatz Consulting.

In this role, Wallace will head the global expansion of the Ragatz Consulting business, which focuses on delivering high-quality consulting services to leisure real estate developers, tourism investors and hospitality companies in the areas of market analysis, feasibility studies, business modeling, product design and quality assurance for Shared Ownership developments. As part of the expansion, Ragatz Consulting will operate out of offices in the United States, the United Kingdom, Germany, the United Arab Emirates, China and Singapore. Wallace will be based in the London office and will work in partnership with industry veteran Dick Ragatz, president, Ragatz Consulting, based in Eugene, Ore.

"With the rapid global expansion of timeshare, fractional ownership, private residence clubs, destination clubs and condo hotels within the leisure real estate industry, there is a great demand for Shared Ownership consulting services worldwide," said Preben Vestdam, president and chief executive officer, Leisure Real Estate Solutions. "Kevin's strong background in the travel and tourism industry makes him uniquely qualified to lead our efforts in meeting this growing demand and supporting more developers with Leisure Real Estate consulting services."

Wallace is a travel and tourism expert with more than three decades of business experience. Throughout his career, he has worked in all the major global markets, including Europe, Asia, North America and Australia. He joins Leisure Real Estate Solutions from Abercrombie & Kent Group, where he served as managing director. Prior to A&K, Wallace was president of Grand Circle Travel, Cruise Lines and Holding Company. He has also held senior-level positions with Los Nomadas Resorts & Hotels and Mirage Resorts, Inc. He holds a master's degree from Harvard Business School in Boston, Mass.

OSCEOLA COUNTY, Fla. -- Osceola County detectives have closed the case on more than two-dozen burglaries with just two arrests, a husband and wife. Deputies believe the couple and stole about $40,000 worth of property and then exchanged it for drugs.

Top Job Auto was one of several businesses hit. The sheriff's department said they were able to recover the business' property.

With the two suspects now in custody, deputies are hoping to handle fewer burglary calls in the area.

"To have to work so hard and just have someone come and take it is really sickening," said Tammy Mackens, Moto Motors, Inc.

Mackens had the unfortunate experience of being burglarized both at home and at her business in Campbell City. During the home burglary, she caught the thieves in the act.

"Just totally vandalized the place. Thank God I was there, because my son was getting ready to get off the school bus and they stole some guns. It could have been his life," she said.

Mackens said it wasn't until members of Osceola County's tourist area policing squad got involved that she was able to get back some of what was stolen from her business.

Deputies said James and Jerilyn Rowland took thousands of dollars in personal items and car parts. Deputies said there were nearly a dozen burglaries at the Calypso Cay timeshare community. About $20,000 in plasma TVs were taken. That is also where the suspects were caught trying to break into yet another unit.

Once the Rowlands were in custody, deputies said, the couple confessed to stealing a four-wheeler at Top Job Auto Repair, as well as dozens of other crime in Osceola County and other counties.

A settlement with Indies Suites timeshare members is in its final stages with principal-owner Ronnie Foster.

The total amount of US$1.52 million will be distributed to club members including those members who did not participate in the legal action against Indies Suites. This amount is the remaining portion of the insurance settlement and the sale of the property. The intention is to pay each of the club members on a percentage basis of the dollar according to the original investment that each made with Indies Suites.

According to Sales Manager Diane Cole, arrangements have also been made with two resorts on the Island for people who still wanted the use of a timeshare here.

“For people wanting to swap there are two desirable locations for club members,” said Ms Cole.

“One location is the Plantation Village and the Coral Sands. Two hundred people expressed they wanted their portion in cash. We are just waiting on some paperwork on the courts to release the money.”

She explained that Coral Sands offered flexible time for timeshare members, but it only had approximately 12 units available. For some people this will be an advantage, because it will have a homey feel of Indies Suites.

Plantation Village had more units available including three bedroom villas, but it could only offer timeshare on a fixed schedule.

Ronnie Foster said he was happy the situation was finally getting resolved.

“It is my hope that people return to these Islands and let the good memories translate to new and even better ones,” said Mr Foster.

Timeshare owners have been raising concerns consistently since it was revealed that the resort condominium would not be rebuilt and there appeared to be little communication from Mr Foster.

It was later discovered that Brac Construction, the sole shareholder, sold the property for $2.8 million to St Matthew’s University of Medicine. Two timeshare owners requested Indies Suites be put into liquidation with the support of 175 other club members.

The liquidation was overturned in the Court of Appeals in November.

One of the lead timeshare owners in the legal action against Indies Suites, Rod Broome, said he could not comment until all the arrangements are finalised.

However, there are numerous club members who are satisfied with the settlement.

One timeshare owner, Jane Wiley said she was happy it was coming to a close.

“We are excited by our exchange to Plantation Village,” said Ms Wiley.

Another club member donated his cheque to the National Trust for the Cayman Islands, but wished to have the gift remain anonymous.

“I wish to thank the Foster family for many years of memories at Indies Suites. We are saddened by the loss of Indies Suites but this contribution is a small token of appreciation to the Cayman Islands and its people.”