SellMyTimeshareNOW LLC recently announced that the total value of all sale and rental offers presented to its advertisers so far for 2005 totals more than $50,000,000.00 This sum is not only a record for this growing timeshare-by-owner advertising company, it is also an industry milestone. Whereas this can be attributed to sound marketing strategies, many within the company feel that this record total reflects changes in how people perceive the concept of timeshare.

"It's very tough to sell timeshare," says SellMyTimeshareNOW CEO Jason Tremblay. "The resale market is flooded with sellers looking for buyers. Any company that wants to succeed long-term in this business has to be able to attract buyers, period. There's no way around that. One way to tell if a company can make good on its promises is to go to the Better Business Bureau's website at www.bbb.org. There, you can compare the BBB records of every company out there." Another indicator of a company's ability to attract buyers is their willingness to document internet traffic statistics. Anyone can claim to have a "timeshare resale" website. A site that attracts over 10,000 prospective buyers a day is a different story. Timeshare owners should avoid being persuaded by a smooth talking salesman and always demand proof before spending money to sell their timeshare.

Timeshare owners are drawn to online timeshare-by-owner advertising companies because they don't want to pay commissions or other broker fees when selling their timeshares. Ideally, for a one-time, up-front fee, a timeshare resale advertising company will promote a timeshare property until the unit is sold or rented.

"A lot of companies have no interest in following through once they've collected the fee," says Tremblay. "Maintaining high search engine visibility is often cost-prohibitive for most businesses in our field. It isn't cheap: we spend tens of thousands of dollars weekly for targeted advertising for our clients."

This record amount of sale and rental offers indicates the continuing evolution of the timeshare resale industry. Beginning in the 1980s, large hotel companies discovered the lucrative potential of timeshare, and began allocating large sums of money toward resort development. Companies like Marriott, Hilton and Starwood brought a new standard of respectability to an industry frequently marred by deceptive sales practices and misrepresentation. The reputation and brand power of these companies has helped popularize the concept of timeshare, while at the same time improving the timeshare industry's image. Increased consumer knowledge and greater corporate accountability have made life difficult for timeshare scammers, but this multi-billion dollar industry still attracts some unethical businesses.

Jason Tremblay continues: "There's still a lot of bad guys out there, and the resale sector is especially notorious. When considering a timeshare resale company, due diligence is an essential part of the process."

For more information, visit http://www.sellmytimesharenow.com

SellMyTimeshareNOW started in August of 2003. At that time, the company was small enough to fit in a medium-sized guest bedroom. Since then, the web site has grown rapidly, and now attracts an average of over 15,000 unique visitors each week, with an average of 80 sale or rental offers on timeshares each day.

New project replacing old Waikiki hotel
Leslie Wilcox

New construction in Waikiki is stirring up old memories of a favorite landmark. A timeshare project is replacing the old Waikikian-on-the-Beach Hotel.

The Waikikian was a classic, best known for the Tahitian Lanai Restaurant, tiki torches and natural ventilation.

It's being replaced by a newer breed of real-estate.

Demolition crews are hacking away on the long, skinny two-acre lot between the Ilikai Hotel and the Hilton Hawaiian Village. This is a rare waterfront building site for a Waikiki tourist development.

Here's what used to be here: a tiki-style hotel, with a swooping roof, lots of wood and rock and gardens, and Polynesian motifs.

The popular Tahitian Lanai Restaurant was organized around a pool with the Hawaiian Islands drawn on the bottom. Lots of island kids swam there while their parents lingered over a meal.

It was adults-only in the restaurant's piano bar at night. Audience participation was welcome; good singing voice was optional.

"This was more a local hangout, and it was pretty nice," says Peter Vincent, heavy equipment operator.

But change is his business and he's helping the Hilton move forward with a 350-unit timeshare project.

Last call for the Tahitian Lanai Bar was 1997. On September 10, the Tiki Tower will be the last part of the Waikikian to be demolished.

The familiar balconies with a design like shark teeth will bite the dust. And we'll see the rise of a 39-story Hilton moneymaker.

"Everybody's doing timesharing because you get your money back very quickly as a developer, and people love it," says Stephany Sofos, commercial real estate consultant. "Everybody wants a piece of Hawaii, and the cheapest and easiest way to own real estate is to own time share."

The timeshare tower will stand as tall as the Hilton's "Tapa" tower, with one-, two- and three-bedroom units.

And we'll see if the new project can make eggs-benedict like the old Tahitian Lanai Restaurant.

Kauai Lagoons permits approved

By Lester Chang - The Garden Island

LIHU‘E — A proposal by owners of Kauai Development LLC/KD Golf Ownership LLC to build the newest, multi-million-dollar, luxury resort in Lihu‘e, has been given the green light by members of the Kaua‘i County Planning Commission.

The 327.3-acre resort by Ninini Point will be located next to the adjoining Kaua‘i Marriott Resort & Beach Club at Kalapaki Bay. Together, both projects are likely to further enhance Kaua‘i's appeal as a world-class destination, developers feel.

The Kaua‘i Marriott Resort & Beach Club was previously developed as the Westin Kauai, the island's first megaresort.

That project spurred the development of other resorts on Kaua‘i, and refitting of older hotels to remain competitive.

The Westin was developed by the late Chris Hemmeter, among the top resort developers in Hawai‘i in the 1980s. Hemmeter passed away in November, 2003.

The newly-approved resort project is also known as Kauai Lagoons, which includes the Mokihana and Kiele golf courses and buildings that once housed retail stores and restaurants.

During a meeting on the new project at the Lihu‘e Civic Center Tuesday, county planning commissioners approved permits allowing Kauai Development leaders to develop 723 resort and residential units, including 12 hotel units, timeshare units, condominiums, and multi-family units.

Commissioners approved a Special Management Area Use permit, a use permit, a project development use permit, a variance permit, and a Class IV zoning permit, for the project.

Preserving public access through the Kauai Lagoons property and through some parts of the Kaua‘i Marriott Resort & Beach Club property was a priority topic of concern for members of Get Fit Kauai, a group whose members promote good health through fitness.

Commissioner Sandi Kato-Klutke noted that many people signed a petition asking for the preservation of the public access, and that the developer should acknowledged the concerns.

Kauai Development leaders like Ron Kouchi, a former, longtime chairman of the Kaua‘i County Council and now a representative for the developer, Kaua‘i attorney Michael Belles, who is also representing the developer, and others, said protecting public access is an equally high priority for them.

"I think the bottom line of your initial inquiry is, ‘will there be any less public access than what is available on the site today?'" said Belles in response to Klutke's concerns. "And the answer is ‘no.' There will, indeed, be more."

Rodney Funakoshi, project manager, said access will be wide open, adding, "currently, I don't think there are restrictions."

Public access is protected and preserved through conditions attached to approval of rezoning of the property in 2002, Belles added.

And efforts will be made to expand lateral public access on company shoreline lands between what was known as Fashion Landing and Kuki‘i Point, Kouchi said.

County officials said that, even though the developer will grant an easement over that area, they will negotiate a condition that would require the developer to build a path.

Other portions of the area between the two areas are owned by the state, so there is no responsibility for the developer to make improvements on the state lands, Kouchi said.

The Get Fit Kauai folks wanted the commission to require the developer to protect an existing public access through the Kauai Lagoons property.

They said joggers and walkers currently use a path that starts from the parking lot across from the Kiele Golf Course, goes over two arched bridges, goes past the former Fashion Landing site, and loops around the area where a wedding gazebo stands.

From there, the path runs into a parking lot mauka of the Pali Kai Cottages.

The developer said people will still be able to jog, walk or ride their bicycles to the Fashion Landing site, only that the route will relocated. The route will be changed to facilitate the redesign of some of the golf holes.

At the same time, a parking lot that is located next to the road that will be relocated will be removed as part of the development plans.

Additional parking will be added to an area behind the Fashion Landing site to accommodate customers of new tenants at the revitalized Fashion Landing Mall.

Plans for the mall include a spa, a restaurant, and real-estate offices.

The area where a parking lot now exists will become part of a new golf hole. That hole will be built next to condominium buildings that are to be constructed overlooking a surf beach known as Running Waters.

Barbara Elmore of Lihu‘e said county leaders should insist on public access at any shoreline improvements, as they offer great vantage points from which the physically-challenged and elderly can watch the sunrise and sunset, and appreciate nature.

Related to public access, Kauai Development leaders also have granted an easement to county leaders to use a dirt road makai of a Lihu‘e Airport runway for the county's proposed bicycle and pedestrian pathway.

Related to the entire resort project, Andrew Nickles, who owns a luxury home at the Pali Kai Cottages development overlooking Kalapaki Bay, said a separate entry should be built for the new project.

He also asked that access, for safety reasons, should not be allowed from the project onto Kalapaki Circle, along which are located the Pali Kai Cottages.

The developer has plans to build 380 units Marriott officials will buy, and those units will unleash a flood of vehicles onto Kalapaki Circle, Nickels contended.

Belles noted that the developer is thankful to get the go-ahead for the project, but also has had to make costly compromises.

For one, the developer will make larger buildings to accommodate residents at the project site, and community residents for the next natural disaster.

Elmore said that while the developer can take pride in gaining necessary governmental approvals, a development that could bring 3,000 extra people to Kaua‘i and put another 1,000 cars on the road will have major impact on Kaua‘i.

"Those things (new resort structures) come at a great cost to the rural nature of this island," she said.

She also said that in the case of a project of such magnitude and impact, the identities of the individual owners should be made available to the public. The knowledge will help determine whether the investors have long- or short-term interests in Kaua‘i, she said.

As part of the zoning for the project, Kauai Development leaders are to build 24 affordable-housing units at the intersection of Haoa Road and Kapule Highway (at the divider between the first and second phases of the Lihue Industrial Park). The developer also will build another 82 affordable units in Waipouli.

Nickles said he would like to see those houses mixed in with luxury condominiums that are to be built. The units can look the same on the outside as the luxury units do, but the interior of the affordable units would be more modest.

Roger Cable, an island business leader and general manager of Senter Petroleum in the Lihue Industrial Park Phase II, said he is opposed to plans to build an entry road to the affordable-housing project on Haoa Road. "If it is going to be there, there has to be vast improvements made to Haoa Road, so that it is safe for people to come in and to make a left turn (into the affordable-housing project)," he said.

At the same time, petroleum trucks and trailers, and other vehicles, should have ample room to pass through the intersection, Cable said.

Sidewalks also have to be built for the safety of pedestrians, he added.

Mega-rich offered $10m 'timeshare'
Tony Allen-Mills, New York

THE property market may be wilting but there was good news last week for the owners of 50-bedroom castles. An American entrepreneur with $500m (£277m) to spend is looking for a landmark property for the world’s most exclusive travel club.

Tim Blixseth of the Montana-based Yellowstone Club inspected two castles in Britain last weekend, but neither met the standards required for a club whose membership fees will start at an introductory rate of $4m and will eventually rise to $10m.

Blixseth made his fortune in timber. He has already snapped up 243 acres of prime Scottish land in the golfing mecca of St Andrews, where he plans to build a golf course for the Yellowstone Club World. It intends to accept no more than 150 members.

The club has also acquired 1,600 acres of beachfront property in Mexico, a fishing lodge in Alaska, a spa in Palm Springs and a castle in Ireland. All will be for the exclusive use of club members who, in addition to the world’s highest joining fee, will pay up to $100,000 in annual charges.

Blixseth is also looking for a villa in Tuscany but last week he was keen to dispel any notion that his project is a glorified timeshare for busy billionaires. “Other resorts offer a house on the beach. We will own the beach,” he said. For their money, members will get year-round access to up to 10 ultra-luxury properties on a first-come first-served basis. They will be able to travel on one of the club’s two yachts and its fleet of private jets.

“We’re simplifying the entrepreneur’s life,” said Blixseth.

“However rich you are, you’re not going to buy 10 of these places around the world. It takes people to run them, it takes effort and staff and we’ll be doing all that. Now our members will just pick up the phone and they are taken care of. It’s easy.”

The project marks what many US travel consultants regard as a quantum leap in marketing holidays to the mega-rich. In recent years a new breed of exclusive travel companies has targeted multi-millionaires who want luxury and privacy at popular destinations.

Several other timeshare-style clubs have been formed, some offering limited stays at private mansions worth up to $8m. But the financial scale of the Yellowstone project dwarfs its mostly American competitors.

“There are lots of people who can afford $250,000 to join a fancy club,” said a New York travel consultant. “But $10m is a different ballpark. For $10m, you’ve got to be special.”

The 225-member Yellowstone Club was founded by Blixseth as a skiing and golf resort in the mountains of Montana. The club claims that its two privately owned mountains will eventually offer members more space to ski than at either Vail or Aspen, the popular Rocky Mountain resorts.

Inspired by the globe-trotting lifestyles of Sir James Goldsmith, the late entrepreneur who sold his US timber interests to Blixseth, and Peter de Savary, former owner of Skibo Castle, the Yellowstone Club decided to seek properties, yachts and planes that would give even jaded billionaires holidays to remember.

“The challenge is to transform the mansions and boats into some phenomenal ongoing experience that will justify the fee,” said Russ Alan Prince, a luxury travel specialist.

In Britain, Blixseth said, the club still hoped to find a castle that has already been extensively renovated. “We don’t want to put more than $10m into renovations because it takes too much time,” he said.

He paid tribute to de Savary for his restoration of Skibo Castle — now a resort hotel where Madonna and Guy Ritchie were married. “If I could buy Skibo, I’d do it tomorrow,” he said. He has commissioned Sotheby’s International Realty to find suitable alternatives.

Are Timeshares Worth Buying Into?

Los Angeles, CA, USA (NAMC) - Since it’s inception in the United States timeshares have grown in popularity. Vacationers have found value in buying into a timeshare as it has allowed them to have a vacation home without actually having to deal with the daily upkeep and maintenance of the home, condo or estate.

The biggest misconception that people have is that they view buying into a timeshare as an investment that may bring financial gain, but in fact buying into a timeshare is more of an investment in life. Allowing a family to be able to vacation somewhere they normally wouldn’t be able to afford to vacation year after year. In a way it adds a life tile to their family unit.

Until recently if a person invested in a timeshare there was never a guarantee that if they had to sell it down the road that they would recoup their original investment.

A company by the name of Value Guaranteed Vacations Inc, a wholly owned subsidiary of RS Group of Companies, Inc, has changed the playing field by introducing their innovative “Affinity Program” to the North American timeshare industry.

Basically the programs benefit is a buy-back option that allows a timeshare owner to re-sell their timeshare interest to Value Guaranteed Vacations Inc at certain break points, 10, 15 or 20 years for upwards of 95% of their initial purchase price.

A program such as this may draw more long-term buyers into the timeshare market.

According to reports Value Guaranteed Vacations Inc has retained the specialty insurance provider Strategy Insurance Limited as the exclusive insurer for their “Affinity Program”.

The first phase of the marina is
already finished and the second phase
which will add another 500 berths
is due for completion in 2006.

Developed by the M.A. Kharafi Group, Port Ghalib covers a total area of 8 million m2 and stretches along 18 km of virgin shoreline.

With a total investment value of US $1.2 billion, the project is split into three distinct sections: the hotel complex, the retail and residential complex, and the expansion of the Marsa Alam airport.

The three hotels are: Citadel and Royal Palace Resort and Spa; Caravans Saray; and Desert Village.

With 300 rooms the Citadel Royal Palace Resort and Spa will be a luxury hotel offering commanding views over the entrance of Port Ghalib’s marina.

Nestled between a lush landscape and a lagoon-pool, the Caravans Saray Hotel has been designed to create a different experience that will offer its guests an Arabian adventure experience.

The Desert Village hotel has been designed to create the ambience of a traditional Bedouin settlement, with tented and shaded structures and a spring providing the water supply for the pools, lagoons and aqueducts of Port Ghalib.

Work on the three resort hotels began in June 2004, when local outfit Mediterranean Contracting was awarded the main contract for all three of the hotels. “We have tried to go with local contractors because we have designed the resort based on Egyptian architectural themes. The building materials come from Egypt so importation is relatively limited; it only really applies to things like air conditioning and some of the electrical and mechanical installations like elevators,” says James Pringle, senior counsellor, M.A. Kharafi Group.

“The three hotels are resort hotels that will be thematically different but interlinked and served by the same back of house area. Altogether the properties will offer 950 keys,” he adds.

According to Pringle, construction work is currently on schedule and set to meet its late 2006 completion date.
The Marina Village is also under construction with local firm SIAC the main contractor. It is also set for completion in late 2006.

This part of the project is made up of roughly 400 apartments, a large retail and entertainment area with approximately 165 shops and 22 food and beverage outlets; and a conference and exhibition centre.

The development sits around Egypt’s first private marina that provides 500 yacht berths and basic services such as a harbour master, customs and immigration office, fuel supply, ship repair yard, ferry terminal, electricity and water supply and medical attendance. A second phase is now under construction and will provide berths for an additional 500 yachts.

Once complete the Marina Village will form part of a residential area spread over a number of villages that include the Port Ghalib Waterfront, Coral Reef Village, Canals Village, Ridge Line Quarter, Tower Village, Wadi Ghalib Village, Lagoon Valley, Highland Golf estates and the VIP compound.

Altogether these offer 43 000 residential units and 8800 timeshare beds.

Before any of these works could begin, the developers had to install the necessary infrastructure for both the construction work and the actual properties once they open.

“We have already invested $200 million in infrastructure, and that includes district cooling plants, roads, a sewage system, a sewage treatment plant, a 25mW power plant, and of course the airport expansion,” says Pringle.

The airport expansion accounts for $50 million of the infrastructure costs. When completed in November 2001, the airport terminal’s first expansion was not scheduled in the original model until 2011.

But with the speed of development in the area this process was accelerated and the terminal expansion — which will double the airport’s capacity to 1200 passengers per hour — will now be complete in December 2006.

Like Dubai International Airport, the airport is under the operational management of Aéroports de Paris, working with other lead consultants like Netherlands Airports Consultants as the designers and Scott Wilson Resources Consultants as environmental consultants.

The airport is a vital part of the overall project as it has been the main driving force behind development in the area. “Before the airport opened there were about 1000 rooms in the area and today there are around 7000 rooms.

The airport has really stimulated a lot of resort development,” says Pringle.

Timeshare flats option for Scots castle



Part of an island castle could be sold off as timeshare properties under a plan to restore the landmark which is proving too expensive for a government watchdog to maintain.

Kinloch Castle on Rum, once the luxury home of the island's landlord, is owned by Scottish Natural Heritage (SNH) which runs the island as a nature reserve.

SNH, which spends £65,000 a year on the 105-year-old building's upkeep, presently uses it as a hostel, bistro and for visitor tours. Its future is seen as a vital part of the development of the island, which is trying to attract more residents.

Yesterday, the Prince of Wales's Phoenix Trust published proposals for the castle's future with restoration estimated to cost about £6 million.

The trust has suggested three possible options - maintaining the existing use of the castle with major restoration; conversion to eight flats, which could be sold as timeshare apartments; or a combination of flats, education and entertainment facilities, with commercial and public access to principal rooms.

Studies will now be carried out to identify the most sustainable option and the most likely to attract funding. A recommendation will then be made to the SNH board.

David Maclennan, SNH's area manager, said: "The castle has a key role to play in the island's future. It is a major visitor attraction and it offers visitor accommodation and catering facilities. But as well as an asset it is also a liability in terms of the funding requirements that go beyond SNH's normal remit."

A SNH spokeswoman said the castle could be bought privately or by a trust with individual properties possibly leased or sold.

Fliss Hough, of Rum Community Association, said the options, identified in partnership with the island residents, are likely to offer a sustainable future for the castle and complement a development plan for the village of Kinloch.

"This would enhance the island for the community and visitors alike and could well lead to a whole range of further opportunities."

Douglas King, the honorary secretary of the Kinloch Castle Friends Association, said the group has been increasingly concerned about the deteriorating state of the castle and favours option three. He said: "It has enormous potential to boost tourism and employment on the island."

‘FRACTIONAL’ SAIL-TIME UNVEILED IN TEXAS

Based in ‘the Lone Star state’ of Texas, a new company has launched a ‘fractional’ timeshare sailing service. SailTime Houston has eight Hunter sailboats at its base at Clear Lake, south of the city.

The company also has a new floating office/lounge where the fleet is based. The office also serves as a base for the company’s social activities and members, says Kevin Kaiser, president of SailTime Houston.

After depositing a training fee, people pay a monthly charge to use a specific boat at least seven times a month – more if the boat is available. A maximum of seven other members share any one boat. For a Hunter 33, the security deposit is $1,500 of which $1,000 is refundable. A $1,000 ‘initiation training fee’ gets a member instruction leading to two American Sailing Association basic certificates. Monthly cost for that boat is $415 and fees vary from boat to boat.

The company handles all formalities of ownership, insurance and slip fees and maintains and fuels the boats.

A SECOND RESORT IN CALIFORNIA FOR FAIRFIELD

Fairfield Resorts has purchased a hotel in downtown San Diego that it will convert and renovate to a timeshare property. The Prava Hotel in the historic Gaslamp Quarter of the city will re-open as Fairfield San Diego at Harbour Lights. While this marks Fairfield’s second resort project in California, it will be the first to open. Next month the company plans to break ground on a 136-unit resort in Oceanside, scheduled to open early 2008.

Fairfield Resorts, a subsidiary of Cendant Corporation, is the largest timeshare company in the world with more than 500,000 owners.

HGVC AND INTRAWEST IN VENTURE TO BOOST PRIVILEGES FOR MEMBERS

Hilton Grand Vacations Company (HGVC) and Intrawest Corporation of Canada have announced a new strategic affiliation that will offer reciprocal holiday privileges to their respective members. The relationship gives Club Intrawest members access to HGVClub resorts and travel services throughout the world via Silver VIP Membership in the Hilton HHonors® guest reward programme. The agreement also provides preferred members of HGVC access to Club Intrawest resorts.

Based in Vancouver, Club Intrawest is a private club with more than 34,000 members worldwide. HGVC operates two club membership programmes, Hilton Grand Vacations Club® and The Hilton Club®, offering a range of services for more than 86,000 members.

BIG NAME BRANDS LOG RECORD TIMESHARE SALES

Burgeoning timeshare sales by Hilton Hotels and Starwood Hotels & Resorts in the second-quarter of 2005 have been highlighted in news reports published by the Financial Times of London.

Hilton Hotels reported a 39 per cent increase in revenues to $136million from timeshare operations, due largely to sales in Orlando, Las Vegas and Hawaii. The company is likely to build a timeshare resort on 112 acres of land it purchased in Hawaii for $65million during the second-quarter.

Like Hilton, Starwood has also raised its forecasts for 2005 based on strong timeshare sales and higher room rates. It is also considering converting more of its hotels to timeshares or condominiums "as aging baby boomers continue to drive strong business" in holiday homes.

Revenues from timeshare and residential units increased 66 per cent in the second-quarter on sales in Florida, Arizona and Hawaii. Excluding special items, income for the period from continuing operations was $157million compared with $107million last year.

Net income fell to $145million from $154million after an $11million charge relating to the demolition of a hotel in Cancun, Mexico, where Starwood plans to build a timeshare development.

SUNTERRA ACQUIRES EDEN BAY RESORT IN MALTA

Agreements have been finalised with the Eden Leisure Group for Sunterra Corporation to acquire the Eden Bay Resort in Malta. Described as a strategic acquisition, it will add a further year-round Mediterranean property to Sunterra’s portfolio of resorts.

Eden Bay Resort comprises 46 one- and two-bedroom apartments. The resort is within the InterContinental Hotel Malta, providing guests access to a variety of services and facilities including a pool that overlooks St George’s Bay.

MALTA AUTHORITIES CRACK DOWN ON ‘UNACCEPTABLE’ OPC TACTICS

The tourism ministry in Malta has clamped down on off-site timeshare sales representatives following complaints from tourists. The ministry had warned OPCs – Off-site Personal Canvassers – to clean up their act on street promotion of timeshare properties.

According to local press reports, tourism minister Francis Zammit Dimech called a meeting with the executive chairman of the Malta Tourism Authority, Romwald Lungaro-Mifsud, and MTA Enforcement Directorate director Frank Farrugia. Subsequently a letter was sent out to all timeshare marketing companies, urging them to take remedial steps to control and eliminate the behaviour of OPCs prompting the complaints.

Despite the goodwill of timeshare operators, the level of harassment continued and the "devious methods" adopted to entice timeshare prospects was "unacceptable," said Mr Dimech.

Following the ultimatum, the minister said the warning had led to "the desired result". The behaviour of OPCs had improved. "We will be monitoring the situation to ensure it does not get out of hand again," said Mr Dimech.

While he acknowledged that the situation was under control for the moment, it did not represent a permanent solution. In the long term, a more acceptable way of selling timeshare had to be devised, he said. One option could be basing OPCs at fixed location booths to avoid loitering and the nuisance soliciting of members of the public.

Two holiday firms in Scotland have been wound up on the orders of the Department of Trade and Industry (DTI). Network Vacations and Intasun Holidays UK "more or less" collapsed in 2003 after a press campaign claimed that operations by Tony Macdonald – listed as company secretary for both firms – took thousands of pounds from readers and failed to deliver the holidays promised.

A two-year investigation by the DTI led to the appointment of accountants, Campbell Dallas, as the interim liquidator for the two companies. According to regional press reports, David Hunter, head of corporate recovery at Campbell Dallas, said: "It appears what Network Vacations and Intasun sold was access to ex-timeshare for a membership fee of between £1,000 and £3,000 but it seems they oversold – a type of selling that is not really honest."

Campbell Dallas also said the companies may have traded under the names of Intrasmart and PR Holidays.

PLANS SUBMITTED FOR TIMESHARE RESORT IN NORTH LONDON

Proposals to convert a three-storey warehouse into a 17-storey hotel-timeshare complex in Wembley, North London, have been submitted to regional planning authorities.

Under consideration are plans for a 120-bed hotel, 108 timeshare apartments, a public viewing gallery and restaurant on the 16th floor and car parking in the basement.

The development is close by the new Wembley Stadium, a multi-million pound project that will open next year and co-host the Olympic Games in 2012. With its iconic arch, it is being built on the site of the old Wembley, venue of England’s 1966 World Cup football victory.