ARDA Fall Conference

Every autumn brings an air that is crisp and filled with a sense of change and each autumn the ARDA Fall Conference takes a look at the past year as it prepares for the upcoming new year. This year, industry leaders came together in positive synergy to look at 2018 and the endless possibilities that it holds. This air of positivity was strongly felt throughout the conference halls, in the courtyard, around dinner tables and even overflowing into the city streets of Washington DC. It helped to fuel our industry workshops and meetings during the conference, as we begin to develop key strategies that will lay the foundation for our industry’s continued growth. This year’s program took a deeper-dive into the economic and political environments that surround our business and the initiatives that help to drive our industry forward. Here are a few highlights:

Interval International kicked off Fall Conference with it’s opening night reception.

ARDA Trustees mingled during the Trustee Foundation Dinner at the Kreeger Museum hosted by First American Title Insurance Company.

ARDA-ROC Legislative Luncheon special guest speaker A.B. Stoddard shared insightful analysis of recent mid-term elections and key forces at work in the overall political landscape.

ARDA president and CEO, Howard Nusbaum gave the State of the Industry address, which included panelists (L-R) Robb Webb of Baker & Hostetler; Robert Spottswood of Spottswood Companies; Don Harrill of Holiday Inn Club Vacations; and Mark Wang of Hilton Grand Vacations.

Keynote speaker former Chief Economist of the U.S. Chamber of Commerce, Martin Regalia dispelled some of the mysteries of the U.S. economy (sponsored by Fidelity National Timeshare).

RCI hosted a luminous closing reception to celebrate another successful Fall Conference.

Chairman's League Breakfast (sponsored by Resort Travel & Xchange) speaker Charlie Cook, editor and publisher of The Cook Political Report and Columnist for the National Journal, shared his thoughts on political pundits and what to expect for the 2020 election.

To see more photos from the event, view our Facebook Album. 

Check out all of ARDA’s upcoming events here. 

 Four Essential Business Services for a Legacy Resort

Legacy properties have very different needs than a resort that is in the active sales phase. Lead generation and sales tools are no longer the priority, but finding ways to drive rental revenue, make investments in the resort, and protect your property become the new focus areas.

To ensure the property continues to flourish, there are four key business services that should be in place. If the list looks overwhelming without the in-house expertise needed, there’s no reason to worry. There are plenty of companies that can provide these services.

#1 – Gain Control of Inventory 

One unique challenge facing legacy resorts is gaining control of inventory. Legacy resorts face common issues like aging owners, increasingly delinquent maintenance fees, and the “Sunset Clause” that will come into effect over the next few years. 

In these situations, it’s important for legacy properties to work with professionals who can handle these issues and obtain deeds back from delinquent owners.

#2 – Maintain Revenue Streams 

With timeshare sales no longer happening onsite at legacy resorts, maintaining cash flow requires rental revenue. To optimize the revenue your property can generate, it’s essential to make sure the right unit is reaching the right person at the right time—and most importantly, at the right price.

When this is done properly results include growing revenue and occupancy, increasing efficiencies, and enhanced reporting and forecasting. 

#3 – Invest in Your Property 

When investing in your property, a good starting point is gathering feedback from your owners and rental guests. That way, you know what will have the most significant impact on traveler experiences.

After reviewing feedback, it’s time to prioritize needed renovations and invest where you see fit. 

#4 – Protect Your Property 

While it’s never a happy exercise to imagine what could go wrong at your property, insurance is essential to keeping resorts running smoothly and mitigating risk. Legacy resorts need to be mindful of their insurance coverage while also being mindful of budget.

 Your Future Board Leaders 

By Sharon Scott, RRP  

It is probably going to be necessary for those of us currently in authority to break existing paradigms and restructure current procedures if we are to engage this generation. We need to rethink the way we do things currently. We need to deconstruct and then reconstruct our organizations to eliminate hierarchical, top down methods.

How then are we to recruit our resorts’ future leaders?

Do things “their way.” 

Engaging millennials in the leadership process begins with making the resort experience an important ingredient in their lives. Part of our resort’s ethos must be one of fun—supporting experiential travel younger owners can enjoy with their peers. Attract them with events and activities to which millennials can relate.

Do a little research to see what millennials are buying, using individual expenditure reports to follow their interests. The results may pleasantly surprise you, as there are beginning to be more and more millennials with money to spend on fun.

Give them connectivity. 

Once millennials begin vacationing at a timeshare resort, they will expect a level of service that, frankly, many of us just don’t offer. They want to stay connected to the internet at all times, but they also want to stay connected to the greater community.

Make them feel they’re part of it.  Solicit their opinions; seek their counsel. 

Leverage their sense of purpose. 

Those of us who have long retained the authority to operate our companies and associations in ways that have been proven successful in the past may feel resentful, as the “new kids” dispassionately dismiss time-honored processes.

Nationally-acclaimed political columnist and author of New York Times best-seller, Applebee’s America, Ron Fournier says “they are purpose-driven, having learned at an early age just how fragile life can be in the post-9/11 world.”  He argues they are impatient and demanding because they grew up with the Internet, which taught them they could command change and choice simply by typing.

If we want to attract millennials’ hearts and minds, HOAs need to first get them invested in the concept of being part of the resort’s family by providing vacations they will find desirable. After you earn their buy-in, then provide them with leadership opportunities.