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By Kate Quinn
Published: 10/29/19 Topics: Comments: 0
Vortex Managers, has announced the formation of a new program for struggling timeshare resorts that helps them rent out unused weeks. The "Yourshare" program helps resorts get their fair share of the fast growing vacation rental market.
It combines savvy vacation rental executives, along with revolutionary software that solves the puzzle of how to promote timeshare units into the vacation rental website channels as well as hotel channels. Plus it provides local and regional advertising that no other management firm provides, all without upfront costs or ongoing fees to the resort.
Every timeshare magazine, website and conference includes extensive discussion and diagnosis of why timeshare resorts are struggling.
After the rapid development of resorts starting four decades ago, the properties now suffer what the industry summarizes as "Aging Properties and Aging Owners" notes William May, the YourShare leader who heads up the program..
Owners who purchases shares long ago have grown older, often on fixed incomes, they travel less and may even be unable to travel to the property they once adored. All the while older properties require escalating maintenance and operating costs, far greater than inflation. With no way to offset their costs, owners are giving away shares but even that often proves impossible. So they are stuck.
In resorts, many unit sit vacant many nights of the year. Some resorts have tried to dent the vacation rental industry and some large timeshare management firms profess to be in the rental business.
"Unfortunately, most resorts don't know how to do it and the timeshare managers have not invested as heavily as they should to master rentals, " Says Penny Taylor, of Yourshare. "They were caught napping while vacation rentals stole their consumers."
"By charging large monthly flat fees to resorts, timeshare managers lack the motivation to do every possible thing they can to secure rentals." observers May, "They have sat on their hands while the vacation rental industry has taken away their visitors.".
Some management firms own all or parts of timeshare exchanges so taking rentals is not in their best interest. When they do attempt to compete in vacation rentals they often advertise only to the hotel channels, while ignoring the vacation rental market which is growing much faster.
On the other hand Vortex, which operates the Goldener Inns and Sunspot Vacation Rentals networks grew up in a very different world. "In Vacation Rentals, managers work on a commission only basis, so we only make money when the owner clients do." says Penny Taylor, "We have to perform and get results for owners or else. That means we can never rest. "
There are timeshare advertising websites but they seldom produce much income for several reason. First they can not compete with the giants and never create sufficient visibility. They ignore regional and even local marketing because its expensive. And they brand themselves as timeshares which is not attractive to many guests in the vacation rental market.
Instead, the Yourshare program partners with all the giant websites to make properties ubiquitous to consumers. The resort handles the property like always, and Yourshare does the advertising, reservations and guest coordination.
The program creates regional and even local central reservation websites, and even new websites for resorts, so they can be personal and local as well as global. They are not promoted as timeshares but as :"vacation rentals" which is of course accurate.
"Dovetailing timeshares into the vacation rental system, proved more complicated than would be imagined," said "Salman Arshad, chief web software architect at Vortex managers on the YourShare project. At a vacation rental every date is available unless the owner blocks it off, but in timeshares no dates are available unless an owner opens the dates. They are backward.
"We operate in numerous markets with free-standing homes, or condos inside buildings and even other specialty lodging places including guest ranches." added Arshad. "So operating a system that handles both methods proved complicated, but we solved the riddle."
Vortex employs its own inhouse software staff, and re-engineered its HelpBookme.com systems to allow timeshare condos to be easily marketed into both the vacation rental channels as well as hotel channels. "We are the only people who have it" notes Taylor, "We put every home on AirBnB, VRBO, and hundreds of other websites."
Yourshare launched quietly in 2018 as an Owner Direct website, contracting directly with share owners and selling their dates to the public. "Frankly, the consumers see no difference. If marketed properly, to them a timeshare is just another nice vacation home," notes Taylor. "In fact, timeshare resorts are usually well kept up, in good locations, pleasant staff and with plenty of amenities."
The timeshare industry's big mistake is that they ignored vacation rentals, and its too late for most to catchup unless they have help from seasoned vacation rental pros.
The Yourshare concept came about over some time. "At first we offered our services directly to the resort, but they never responded, and all while the "Aging properties and aging owners" problem was biting them.
Within a year we were procuring more nightly rentals than the onsite manager, and producing more income to owners. "We approached another resort, again without response, so we launched there too as Owner Direct."
"Recently a competing resort in that community called and said, 'Hey we would like to get some of that money' so now we are working directly with them and with good results." said May. Their onsite management team were well seasoned and anxious to have a plug and play system like Yourshare.
Yourshare re-built that resort's website, advertised them on hundreds of website and even created Dynamic Range Photos, 3D tours, floor plans, printed materials and other tools that have proven to be so effective in the vacation rental lodging business. It was done in very quickly.
After perfecting the entire Yourshare process, the company is now expanding geographically and has launched its services nationwide. "We like to work for resorts who recognize they need help, but we are also happy to work directly with owners if asked. So if the resort board doesn't ask us, we go in and help owners anyway."
"Best of all," said Taylor, "Vacation Renting brings in more visitors to each Resort and every one of those visitors are potential timeshare buyers." In the long run, that could be the biggest benefits to legacy resorts.
YourShare.biz is operated by Vortex Managers headquartered in Seattle, WA. Along with its affiliate Sunspot Vacation Rentals and Goldener Inns networks, YourShare offers vacation rental booking, advertising, marketing and reservations to timeshare resorts looking to increase their income without upfront costs or ongoing fees. For more information, call YourShare at 818-922-8292. See owner details at www.YourShare.biz and other resorts at RentYourShare.biz.
Author: Kate Quinn, YourShare
Blog #: 0713 – 10/29/19
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