An old joke among timeshare veterans goes like this: "Nobody ever wakes up in the morning and exclaims to their spouse, 'Hey sweetie, let's run out and buy a timeshare today!'"
That old joke is also an excuse. An excuse for high Vacation Ownership marketing costs, and for low interest rates on Vacation Ownership portfolios.
We hear Vacation Ownership is not sought-after. So, to close just a few sales - we must contact, wine and dine, host and incentivize many prospects. This gets expensive, whether we are dropping 10,000 pieces of mail, developing 1,000 internet leads, or buying 100 tours.
Wellington Financial, the exclusive resort finance lending correspondent for Liberty Bank, announced the Bank closed a $20MM inventory loan to Colorado-based timeshare developers Breckenridge Grand Vacations. Liberty also renewed and increased their existing receivables hypothecation line of credit to Peak 8 for $30MM.
Grand Pacific Resorts hosted the 16th Annual RCI Christel House Open at Shadowridge Country Club in Vista, California, enlisting the assistance of two Christel House graduates in its internship program. The company has been an avid Christel House supporter, raising over $56,000 at the tournament this year and over $750,000 cumulatively since 1998, helping to transform the lives of impoverished children around the world.