RedWeek.com, the online marketplace for timeshare rentals and sales, reached a milestone today, registering its 1,000,000th user. RedWeek.com offers timeshare condominium accommodations and has over 5,000 resorts represented from around the world. Online interest for timeshare rentals and resales is on the rise as the benefits of timeshare vacationing are being discovered.

"RedWeek.com appeals to more than the current base of timeshare owners," said Howard Nusbaum, President of the American Resort Development Association (ARDA). ARDA (www.arda.org) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Nusbaum continued, "There are increasing numbers of people who are interested in learning how timeshare can help them get more out of vacationing and offer a compelling value proposition. Web sites like RedWeek.com help consumers with this education while they consider where they want to buy."

Non-owner travelers and timeshare owners are using the Web for timeshare price comparisons and research. RedWeek.com has thousands of resort ratings and reviews written by its members. The Web site has been bringing non-owner travelers to timeshare. RedWeek.com's 1,000,000 registered users represent 650,000 non-timeshare owner travelers and 350,000 timeshare owners. All registrants have expressed interest in timeshare and have active e-mail addresses within the online community.

With a free registration, visitors to RedWeek.com can view resort ratings, photos and descriptions. For $9.99, one can upgrade to member status and contact other members regarding rental, sale or exchange postings. Timeshare owners can post their unit for rent or exchange for $19.99 for a 6-month period, and resale postings are $49.99 for 12 months.

RedWeek.com (www.redweek.com) is a member-supported marketplace connecting travelers and the timeshare community. The site was launched in November of 2002 and continues to experience significant growth. It offers outstanding resort condominium accommodations for rent, purchase, and exchange directly between users.

2-time PGA Tour Winner, Luke Donald, got his start on a
timeshare resort golf course.

Timeshares may be a great way to vacation, but they rarely turn
out to be a good investment for financial return. However the parents of PGA Tour winner, Luke Donald, might justifiably think otherwise.

The twenty-eight-year-old golfer has two PGA Tour wins to his name, the 2002 Southern Farm Bureau Classic, and as of last week, The Honda Classic. His win resume also includes the 2004 Scandinavian Masters, the 2004 Omega European Masters, and the 2004 WGC World Cup. The last week of March approaches, and Donald has already
racked up a cool $1.4 million in earning from this year’s US PGA Tour play alone.

But young Luke, could have been a budding cricket or rugby star, had it not been for the fact that his parents purchased a timeshare. The family’s timeshare in southern Spain offered free golfing privileges on the resort course, so Luke, then eight years old, picked up a driver and the rest, as they say, is history.

Veteran golfer, Bobby Cole, a lifetime member of the PGA Tour and winner of over twenty professional tournaments worldwide says, “Luke Donald is probably just coming into his game. With his sound fundamentals, there is no telling how many more events he may win over his career. And you just never know, if he hadn’t had the
opportunity to play at a young age, he might have bypassed golf entirely in favour of other sports or his talents as an artist.”

A new hotel and two golf courses near Inverness have been given the go-ahead by councillors. The proposal for Castle Stuart, Dalcross, was approved by Highland Council's planning development Europe and tourism committee on Friday.

Two 18-hole golf courses, a driving range, clubhouse and a 57-bedroom hotel are included in the plan.

Applicants Cornerstone Golf Development International are behind several championship golf courses in the USA.

Twenty-eight apartments, a spa and leisure complex and 120 timeshare units and conversion of Balnaglack Farmhouse to offices are also proposed for the 176 hectare site.

Work on the golf course is expected to be completed by 2012.

The committee considered objections from seven local residents.

Director of planning and development, John Rennilson, recommended approval, subject to 57 planning conditions.

He said: "I am satisfied that, given the comprehensive and rigorous assessment of the proposal, the development should be delivered in a satisfactory manner."

Federal prosecutors plan to put former Cendant Corporation Chairman Walter Forbes on trial for a third time on charges he took part in a massive fraud that cost the company and investors more than three billion dollars.

Forbes' first two trials ended in mistrials when jurors could not reach a verdict. His second trial ended last month after a U-S District Court jury in Hartford deliberated for 27 days.

Federal Judge Alan Nevas in Bridgeport is expected to preside over the third trial.

Forbes has argued that he did not know about the fraud.

Jurors last year convicted Forbes' co-defendant, former Cendant Vice Chairman Kirk Shelton, of conspiracy, mail fraud, wire fraud, securities fraud and making false statements to the SEC.

Shelton was sentenced to ten years in prison and ordered to pay more than three (b) billion dollars restitution to Cendant.

Wyndham Worldwide will become the name of the new hospitality company expected to be created by Cendant Corporation (NYSE: CD) later this year in the previously announced spin-off of its lodging, vacation exchange and rental, and timeshare resorts businesses, it was announced today.

Upon completion of the spin-off, Wyndham Worldwide will be an independent,
publicly traded, pure-play company focused on the development and performance
of its nine hotel lodging chains including the Wyndham(R), Ramada(R), Super
8(R), Wingate Inn(R) and Days Inn(R) brands; its vacation exchange and rental
businesses including RCI(R), Novasol(R) and Landal GreenParks(R), and its
timeshare resorts business including Fairfield(R) Resorts and Trendwest(R)
Resorts.
Stephen P. Holmes, Cendant vice chairman and the new company's chairman
and chief executive officer, said Wyndham Worldwide "represents the elevation
of a signature brand with high consumer appeal to serve as our new corporate
identity."
"As the leading provider of hotel, vacation exchange and rental, and
timeshare accommodations across six continents, we will leverage a name that
provides us with a familiar corporate identity that unquestionably conveys who
we are and what we provide to millions of consumers worldwide," he said.
Noting that the Wyndham hotel brand is widely known "for its distinctly
personalized approach to hospitality," Holmes said, "We believe Wyndham
Worldwide translates perfectly as the bold new identity for a company that
provides consumers with the widest choice in global travel accommodations for
virtually any occasion, price point and experience."
Wyndham Worldwide will be one of the world's largest hospitality companies
and preeminent providers of hospitality products and services, encompassing
more than 6,300 franchised or managed hotels with over 530,000 hotel rooms
worldwide; serving more than three million members of the RCI exchange network
with access to over 4,000 resorts worldwide; more than 55,000 vacation
exchange and rental properties located in more than 100 countries, and over
140 timeshare resorts serving more than 750,000 timeshare owners throughout
North America, the Caribbean and the South Pacific.
"Even as we adopt a new corporate brand to represent the sum of our
hospitality businesses, we recognize the tremendous value and equity of each
of our brands," Holmes said. "Our commitment to our total brand portfolio
remains just as strong, and we will continue to grow and enhance the presence
of our brands within their respective market segments."
To further leverage RCI's unique brand equity in the timeshare exchange
businesses, and in recognition of the recent integration of RCI with our
European vacation rental businesses, the combined vacation exchange and rental
businesses will be renamed the RCI Global Vacation Network. The new name will
reinforce the groups' established global business network of partnerships and
distribution channels enabling the individual brands to flourish in existing
and new markets.
Since the Cendant name will be retired, the company's timeshare
development subsidiary, Cendant Timeshare Resort Group, Inc., will change its
identity to Wyndham Vacation Ownership, Inc. It will continue to operate
under its two highly-regarded resort development brands, Fairfield Resorts and
Trendwest Resorts, as well their respective timeshare programs, FairShare
Plus(R) and WorldMark(R).
Concurrently, Cendant Hotel Group, the unit that manages the company's
franchised and managed hotel lodging business, will change its name to Wyndham
Hotel Group, and the company's namesake hotel brand will become Wyndham Hotels
& Resorts.
"Wyndham will provide an integrated brand identity to bridge our
businesses as we pursue new growth strategies, including mixed-use hotel and
timeshare development," Holmes said. "As an upscale brand, Wyndham provides
both our hotel and timeshare development businesses with a common platform
from which to pursue further growth in higher-end segments.
"These and other integrated strategies will not only help further extend
our brands globally, but will also dramatically redefine Wyndham as a
worldwide leader in all facets of lodging hospitality," Holmes concluded.

Forward-Looking Statements
Certain statements in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Statements preceded by, followed by or that
otherwise include the words "believes", "expects", "anticipates", "intends",
"projects", "estimates", "plans", "may increase", "may fluctuate" and similar
expressions or future or conditional verbs such as "will", "should", "would",
"may" and "could" are generally forward-looking in nature and not historical
facts. Any statements that refer to expectations or other characterizations of
future events, circumstances or results are forward-looking statements. The
Company cannot provide any assurances that the separation or any of the
proposed transactions related thereto will be completed, nor can it give
assurances as to the terms on which such transactions will be consummated. The
separation transactions are subject to certain conditions precedent, including
final approval by the Board of Directors of Cendant.
Various risks that could cause future results to differ from those
expressed by the forward-looking statements included in this press release
include, but are not limited to: risks inherent in the contemplated separation
and related transactions, including risks related to borrowings and costs
related to the proposed transactions; increased demands on Cendant's
management teams as a result of the proposed transactions; changes in
business, political and economic conditions in the U.S. and in other countries
in which Cendant and its companies currently do business; changes in
governmental regulations and policies and actions of regulatory bodies;
changes in operating performance; and access to capital markets and changes in
credit ratings, including those that may result from the proposed
transactions. Other unknown or unpredictable factors also could have material
adverse effects on Cendant's and its companies' performance or achievements.
In light of these risks, uncertainties, assumptions and factors, the forward-
looking events discussed in this press release may not occur. You are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as of the
date of this press release. Important assumptions and other important factors
that could cause actual results to differ materially from those in the forward
looking statements are specified in Cendant's 10-K for the year ended December
31, 2005, including under headings such as "Forward-Looking Statements", "Risk
Factors" and "Management's Discussion and Analysis of Financial Condition and
Results of Operations." Except for the Company's ongoing obligations to
disclose material information under the federal securities laws, the Company
undertakes no obligation to release any revisions to any forward-looking
statements, to report events or to report the occurrence of unanticipated
events unless required by law.

Ariel Sands, the Devonshire cottage colony owned by film star Michael Douglas’s family is going to be razed and rebuilt in a massive $100m makeover.

The actor attended a press conference today, Wednesday, with Tourism Minister Ewart Brown and new partners Hilton Grand Vacations Club to announce the plans, which will see the existing 47-room property transformed into a 214 room oasis.

Mr. Douglas said: “Ariel Sands has been in our family, the Dill family, for more than 50 years. As many of you also know, the cottage colony tourism business has been pretty rough the last 20 years. I’m very proud to announce, on behalf of Ariel Sands, a partnership with the Hilton Vacation Clubs.”

Mr. Douglas said he’s been talking about the plans with Government for the past few days and presented the idea to Cabinet. He said the development would be great for tourism, but also for Bermudians. Local staff will have the opportunity to train abroad and live on site with 16 staff rooms.

Hilton Grand Vacation Clubs is basically a high-end timeshare operation with more than 3,700 exchange opportunities.

Representative Bruce Sonneborn Jnr said the project would unfurl in phases. Once completed, it will be the ultimate in luxury living.

Referring to a report in Destinations Magazine he said: “The fractional interest property product is the hottest term in the high end housing market today.” He said the new Aerial Sands would be “two steps above” operations like the Ritz Carlton and Four Seasons.

Mr. Douglas said his family would continue to have a “minority interest” in the property.

Dr. Brown paid tribute to the celebrity saying: ”This man has done more than a few things to help Bermuda. Obviously he is a mega star in his own line of work and wherever he goes he says good things about Bermuda — sometimes I wish we could expose him to other people in Bermuda so that they would feel the same way.”

The new property will be called The Hilton Club at Ariel Sands. The existing six condominiums will stay, but everything else is going to be replaced with a number of three-story buildings.

Dr. Brown continued: “In an effort to keep up with the changing times we are about to turn a new page in Bermuda’s tourism industry, and Government salutes Michael Douglas for being creative in actively courting this international brand.”

More timeshare owners at the Royal Oasis resort are coming forward and inquiring about the pending class action suit; some say talk of new owners is promising news.

Back in January, The Freeport News learned that several owners were talking with lawyers about a lawsuit against the Crowne Plaza Golf Resort and Casino at the Royal Oasis which shut down in September 2004.

The owners cited the reason for the closure was for repairs.

However, 18 months and millions of unpaid dollars later, there has been no word from the owners to the 1,300-plus displaced employees.

The timeshare owners say the only correspondence they received, months after incessant attempts to get answers, was that their "points" had been frozen.

Before now, the owners had made every possible attempt to find some answers from the owners, the timeshare representatives, this daily and even Bahamas government officials, including Prime Minister Christie.

But to no avail.

Frustrated, at their wits' end and fearful that their money was lost, several of the owners turned to one another, formed a coalition and began contemplating a class action suit.

A flurry of e-mails were trafficked back and forth and soon afterwards talks were initiated with lawyers.

One owner said they did not want the situation to get to a law suit, but their backs were against the wall and, having owned the timeshare just months before the resort had closed, they had no other recourse.

A number of owners who contacted this daily had still been making the regular payments, despite the resort's closure, out of fear they would lose their money or their points if the resort was to reopen.

One Virginia woman said she paid $12,000 cash for her timeshare and has never received a bill for maintenance fees.

Some owners took out loans to purchase their timeshare.

A week ago, The Freeport News confirmed that new players were at the bargaining table bidding for the resort property and had met with government as late as Sunday.

It was the second such talks government has had with an investor in a year.

The property was close to being sold to Harcourt Developments, a property construction and management company based in Dublin, but the deal fell through.

Toursim Minister Obie Wilchcombe disclosed that the new group of players has international reputation but he declined to disclose their name before the deal is done.

He added, however, that it was hoped that negotiations can resolve quickly.

One of the more recent timeshare owners to come forward, though weary, was still optimistic with word of new talks.

"We seem to be in the middle of a struggle between Driftwood and the government as each tells us to call the other," he said.

"We hear rumours of a sale and that once that happens, our agreements could be fulfilled with that new owner. That the resort will be rebuilt bigger and better than before. This all sounds good, but we cannot trust any of that information as treatment to date has been unbelievably terrible."

The owner, who has signed a 42-year agreement with the timeshare unit, says he and other owners can't understand why they are being ignored.

"I can't understand why the Bahamas government completely ignores that fact and that I am one of many owners who have the same agreements which translates into tourism dollars for the Bahamas. I can't understand why they ignore or disregard this fact," he said.

He pointed out that the owners have been extremely patient considering they have yet to receive any formal information regarding the status of the resort or its future direction.

"But, our patience is running thin in the face of more reports of Driftwoods' continuing downward spiral and the lack of a sale or any information how that sale would affect our agreements," he said.

International developer Mona Lisa Hotels & Residences is to build a 240-suite condominium/hotel complex called the Mona Lisa at Celebration.

The $50million project is located on a 12-acre site near the heart of the Orlando area theme parks. Designed by famed architect Morris Adjmi, it will comprise 100 one-bedroom and 140 two-bedroom suites and is near a newly completed golf course scheduled to open this spring.

Mona Lisa Hotels & Residences has developed more than $800million in condominium/hotel projects in the French Alps. Construction of the complex is by the Michigan-based design/build contractor, the Synergy Group.

Starwood Vacation Ownership – the timeshare division of Starwood Hotels and Resorts World-wide -- has announced expansion plans at its flagship property, Sheraton Vistana Villages in Orlando.

The current phase will increase the number of units to 510 which will include 200 new villas, a new pool complex, a recreation building that will house a second fitness centre, games room and arcade as well as an activities desk with sports, pool games and equipment.

Sheraton Vistana Village opened in 2000 as the first newly built Starwood property after the 1999 purchase of Vistana Inc. by Starwood Hotels & Resorts Worldwide. The current expansion is due to be completed in the second half of 2006. Once this is complete, construction will begin on the next phase. Upon total completion, the resort will have 1,415 villas.

A self-styled luxury timeshare property in south-west England is up for sale.

Property consultants Savills are inviting offers of £2.5million for Court Barton, an attractive Georgian farmstead in Devon with 100-year-old barns that have been converted into 13 cottages.

The development also includes a sauna and solarium, restaurant and bar, indoor and outdoor swimming pools, croquet lawn and an all-weather tennis court. There is also scope “for further leisure development and business growth”.

Court Barton was developed as a timeshare resort in 1982 whereby occupancy rights were attached to a shareholding in the company which owns the freehold. Vacant possession is available from May 2007 following expiry of the current timeshare agreement.

The holiday complex is offered for sale by informal tender - the closing date for offers is Thursday, 20 April, 2006. Kay Smith, Savills’ Leisure Department, says: “Court Barton is an excellent opportunity to purchase a holiday complex with development potential just over a mile from the sea.”

She added: “We anticipate strong interest from local entrepreneurs and lifestyle buyers as well as established timeshare and holiday home operators and new entrants into this sector of the leisure market.”

If you fancy a bargain, the current guide price is £2.5 million. Further details at http://www.savills.co.uk/commercialleisure/search_det.asp?SiteRef=129488

The OTE is conducting research into the attitudes and perceptions of timeshare by British owners.

The questionnaire is available via the following web link: http://www.surveymonkey.com/s.asp?u=814261790396

Owners who complete and return the survey are eligible for one of three prizes in a Grand Draw: a week’s accommodation for up to four people (subject to availability) at resorts in the UK, the Canary Islands, mainland Spain, Portugal, Austria or Turkey.

The prizes have been donated by Club La Costa, Clowance Estates and Seasons Holidays.

Fairfield Resorts, Inc., the largest vacation ownership company in the world with more than 500,000 owner families, yesterday announced that Fairfield Branson has received the company’s prestigious Golden Pineapple Award for 2005. Given annually to the resort with the highest guest ratings as measured by Medallia – a leading provider of customer feedback solutions for the hospitality industry, the Golden Pineapple Award is the highest honor a Fairfield resort property can receive.

In a portfolio of more than 70 resorts nationwide, Fairfield Branson – comprised of The Falls, The Meadows and Mountain Vista - was rated as providing the “best guest experience.” The award will be presented at a special reception on Thursday, March 9th at 5:30 p.m. at the Meadows.

“This is a tremendous honor for Fairfield Branson and a credit to our exceptional employees who always strive to provide our owners and guests with world-class customer service and a memorable vacation experience,” said Scott Nassar, Senior Vice President of Resort Management for Fairfield Resorts. “It’s also an endorsement of Branson and all that it offers as a vacation destination, in winning this prestigious award with competition from markets like Orlando, Las Vegas, Myrtle Beach and many others.”

Medallia facilitates comprehensive owner/guest surveys and tracking for Fairfield Resorts, where 48% of owners have responded offering feedback on their vacation experience. All resorts are evaluated on a set of criteria that includes customer service, cleanliness, check-in and departure efficiencies, unit maintenance, resort activities and more. With 438 units at its three Branson resorts, Fairfield brought more than 100,000 visitors to the area in 2005.

About Fairfield Resorts
Fairfield Resorts, Inc., with more than 500,000 owners, is the largest vacation ownership company in the world. Fairfield Resorts specializes in the development, marketing and sales of innovative travel and leisure products, including vacation ownership intervals at the company’s more than 70 resorts. Fairfield Resorts was one of the first U.S. developers to move from traditional fixed-week timeshare ownership to a points-based exchange program with the launch of FairShare Plus in 1991. Fairfield Resorts, headquartered in Orlando, is a subsidiary of Cendant Corporation (NYSE: CD), a diversified global provider of business and consumer services primarily within real estate and travel. Other Cendant brands include Cheap Tickets, AVIS, Days Inn, Ramada Century 21, Coldwell Banker and RCI. www.fairfieldresorts.com

In about a month, the Conejos Executive Offices in northeast Albuquerque will be no more. That's when an out-of-state company will take the place of the more than a dozen businesses that currently reside there.

The owner of the Conejos Office Park has decided that its 8,000-square-foot building, Conejos Executive Offices, is better suited for one lease, rather than 15, and that lease is going to the Redmond, Wash. based-timeshare company Trendwest Resorts.

Trendwest first approached Vista Hills Partners, the owner of the five-building office park last October, but it took several months before Vista Hills made any kind of determination.

Knight Seavey, a principal in Vista Hills, says they timed the transition around when their existing tenants' leases were up for renewal. The 15 businesses were either on six month or month-to-month leases. A letter notifying the tenants about the closure of the office park was sent out in mid-January, giving the businesses more than two months to find another location. Everyone is expected to be out by the end of March.

"Even when it works perfectly, executive office buildings won't work as well as a single user," says Seavey, who also is the owner of Insite Works, an architectural firm that designed and developed the buildings within the Conejos Office Park.

Trendwest will start making improvements to the building at the beginning of April, with a move-in date slated for May. The timeshare business, which is part of Cendant Timeshare Resort Group of Orlando, Fla., plans to hire 40 to 45 people for its Albuquerque office, including sales, marketing and telemarketing positions.

The move to New Mexico, says Bill Ford, a vice president with Trendwest, was a natural expansion, since the company has locations in surrounding states.

Trendwest's network operates 59 WorldMark resorts in the U.S. and international locations such as Mexico and Australia. Trendwest is the exclusive developer and marketer of WorldMark, The Club, whose clients purchase ownership interest in the club through Trendwest. Instead of receiving a deeded ownership, timeshare owners buy vacation "credits" that they spend like currency on resorts within the WorldMark network, allowing owners the ability to spend them whenever and wherever they want.

While the news came as a surprise to the business owners at the Conejos Executive Offices, sending them scrambling for places to move to, many were appreciative of the time they were given to find additional space.

"But, it was still a frenzy here for a short time," says James Korenchen, president of James Korenchen Public Relations. Korenchen estimates the move will end up costing him thousands of dollars, including cost considerations such as new collateral materials.

Down the hall, Tom Duncan, president of Duncan Building Contractors, says his business will probably end up spending about $3,000 in unexpected costs, adding that the building's owners managed to eliminate one of the biggest potential hassles. Vista Hills is allowing all of its tenants to keep their existing phone numbers.

One of the office's larger tenants, Humana MarketPoint, recently signed a 4,000-square-foot lease in another building Seavey is part owner in on Jefferson and Alameda. Other businesses, such as Ajilon Finance, were already planning on moving.

Global Hyatt Corporation Acquires Full Ownership Interest in Park Hyatt Paris-Vendome

Global Hyatt Corporation today announced the acquisition of full ownership interest in Park Hyatt Paris-Vendome, the prestigious five-star luxury hotel located in the heart of Paris on Rue de la Paix. Global Hyatt's outright ownership of the 178-guestroom property comes as a result of the purchase of the hotel from Bouygues Immobilier and Credit Foncier. The purchase price was not disclosed.

Affiliates of the three companies developed the hotel, which opened in 2002 after a full rehabilitation by Bouygues Immobilier of a historic bank complex situated adjacent to Place Vendome, the landmark square originally built in 1702 as a monument to the glory of the armies of Louis XIV.

The hotel will continue to operate as Park Hyatt Paris-Vendome. Designed by renowned architect Ed Tuttle, Park Hyatt Paris-Vendome combines classical French and contemporary styles. Park Hyatt Paris-Vendome offers its discerning clientele premier accommodations in a preferred location, within walking distance of the Louvre Museum, Place de la Concorde and exclusive shopping.

Park Hyatt Paris-Vendome recently received prominent recognition as the #1 Hotel in Europe and the #2 Hotel in the World in Institutional Investor's World's Best Hotels Poll, an annual survey of top financial executives with an average household income exceeding $800,000 and who spent more than 60 nights in hotel rooms in 2005.

The manager of The St. George’s Club timeshare development is preparing to leave the Island to take up a new job in Las Vegas.
Louie Blanc has been at the club for the since late 2004, but he has accepted another posting with the club’s overall management company that will involve a number of hotel properties in Las Vegas.
Denver-born Mr. Blanc last night told the The Royal Gazette about his love of Bermuda and how he and his family will miss the Island when they relocate next week.

“We have had a fantastic time here,” said Mr. Blanc, who has 26 years experience running establishments in North America, including the Marriott Newport Center in New Jersey and is the fourth generation of his family to work in the hospitality industry.
He added: “We’ve had a great time in Bermuda and I love the people here. The greatest strength Bermudians have is the high value they place on hospitality. My wife and two boys love Bermuda.”
In the interim between Mr. Blanc leaving and a new manager arriving, the timeshare development will be run by one of the company’s vice presidents.

While the overall financial results of Sunterra Corporation for its first fiscal quarter to 31 December 2005 highlighted “powerful growth”, its European results were “disappointing”.

In a statement, Nicholas Benson, president and chief executive officer, said: “While this part of our business generates only 20 per cent of our total revenues, we had expected to see some signs of improvement in this fiscal year but this has been slow in coming. We are continuing to spend too much on advertising, sales and marketing to generate below par revenues, and while Europe remains a challenging market for the vacation ownership industry as a whole, we must deliver improvements in the second half of this fiscal year.”

A global product and market review was addressing these issues “and we expect to be implementing solutions by this summer”. He added: “Overall, however, we remain on track to deliver the earnings we anticipated at the start of this fiscal year…”

Sunterra’s European operations continued to scale back during the quarter, reporting total revenues of $21.7million compared with $25.1million in the comparable period in 2004. The shortfall reflects negative exchange rate movements as well as lower vacation interest volumes, offset in part by rate increases achieved in the management and member services area, says the company.

The government in Malta has been urged to take immediate action and introduce measures that would further regulate the timeshare business.

The General Retailers and Traders’ Union (GRTU) proposed that timeshare sales representatives should operate from fixed location booths where they could sell their products without disturbing the tourists and the commerce in prime areas.

According to local press reports, the union said that timeshare is a positive development for Malta as it brings thousands of tourists to the island. It has always supported the investors in the sector who carried out business in a professional way.

However, despite the fact that it is still winter, OPCs (off-site personal contacts) – mostly foreign nationals – are already lining up in popular tourist areas and annoying the tourists in an attempt to sell timeshare.

The GRTU claims that OPCs are disturbing businesses in areas such as St Julian’s, Sliema, Qawra, Bugibba, Valletta, Mdina and Marsascala. As a result, the attraction of Malta as a holiday destination is being “tainted”.

A historic country hotel, set on a 24-acre estate in Cornwall, has been acquired by Club La Costa Resorts & Hotels.

Built in 1872 by an Italian architect, Trenython Manor Hotel & Spa is situated just five minutes from the ancient town and port of Fowey. It features an award-winning restaurant, bistro, lounge bar and indoor pool and spa.

According to the company, the acquisition marks an important step in the overall expansion of its UK and mainland Europe resorts. Also, the hotel, private lodges, on-site facilities and location “provide the ideal setting for a mixed-use resort”.

CLC plans to invest extensively in upgrading the hotel and grounds and expand the existing Elemis aromatherapy spa and leisure centre.

The resort is just 30 minutes from Newquay airport and a short drive from The Eden Project, the popular, eco-educational ‘Living Theatre of Plants and People,’ the size of 30 football pitches.

As CLC continues to expand, the company is actively seeking other UK resort properties and extending its network of UK sales offices. To service this growth programme, it is looking to recruit quality sales management and personnel. Any interested parties should email Andrew Walton, operations director, UK, at Andrew.Walton@clublacosta.com or call the company’s head office in London on 020 8205 6111.

Police in Tenerife have arrested a German national for alleged fraud using a fraudulent re-sale proposition. According to regional press reports, he has been convicted on four previous occasions for similar offences.

OTE has welcomed the pro-active measures of the Spanish authorities. Its own Enforcement Project is now yielding positive results and OTE urges members to communicate any consumer complaints and allegations of fraud to its office in Madrid.

Five men and 12 women – all British nationals – have been arrested on the Costa del Sol for allegedly defrauding timeshare owners with a fraudulent resale proposition, said the Malaga Provincial Police.

According to regional press reports, the complexity of the resale scam made the police investigation extremely difficult.

The offences were allegedly organised by the same person and a company called Maritime Marketing that were actively involved in this business.

After several weeks of surveillance and following reports from the United Kingdom, the police moved in and made the arrests.

In a separate development, police arrested four individuals in Tenerife for alleged fraudulent resale propositions to timeshare owners. They were Belgian, French, Italian and Austrian nationals. The majority of the fraud victims were French.

The Organisation for Timeshare in Europe (OTE) is urging the European Commission (EC) to introduce legislation covering all pro-active sales and marketing practices rather than attempting to target travel services such as holiday packs and discount travel clubs in a new Timeshare Directive.

On 3 February the EC announced its intention to review the Timeshare Directive separately from its general review of consumer protection legislation because of complaints from the public.

With the EC reporting just 30 complaints a year and based on data from OTE, the UK Office of Fair Trading, the European Consumer centres and the Spanish consumer affairs agency, the ongoing decline of complaints about timeshare is readily apparent with approximately 500 complaints on timeshare for the whole of Europe in 2005.

The statistics are also a key indicator that the existing timeshare Directive is working in practice and that the industry is capable of effective self-regulation. Based on that evidence, and the economic data on timeshare showing that some 7 million consumers take holidays in timeshare resorts every year, OTE believes no new Timeshare Directive is necessary.

However, OTE recognises the need for legislation to curb sales and marketing practices of travel-related services that seem to attract consumer complaints. It is important that existing laws are complied with to ensure that companies selling these services are required to give a cooling-off period and make no misleading statements.

Consumers and timeshare owners also complain about companies and individuals who make fraudulent re-sale propositions and OTE believes that this can be dealt with by the enforcement of existing criminal laws.

In the past few days, police in Spain have moved to arrest individuals involved in making fraudulent re-sale propositions to hundreds of timeshare owners. One of the main conclusions in OTE’s submission is that enforcement is a key priority for the authorities and that consistent enforcement could reduce consumer complaints by 90%.

OTE’s Enforcement Project continues to make a significant contribution to the efforts of the authorities in combating fraudulent activity, thereby reducing further consumer complaints and unfair competition to legitimate timeshare companies.

This week OTE is submitting its response to the European Commission which is based on economic studies on timeshare, data registering complaints and the work of the OTE Legislative Council.