Annually, WithumSmith+Brown, PC (Withum), conducts a study to track and analyze trends in the financial information of 100 Florida timeshare resorts, benchmarking their performance as compared to prior years. Because the study uses verified data from audits, it gives an extremely accurate comparison of the budgets and performance of the participating resorts. The current study has recently been published and is being made available, free-of-charge, at
Analysts can use the data to extrapolate and determine budgeting trends in bad debt and liquidity of resorts, for example. They can review whether resorts are budgeting adequately in anticipation of their historical number of unpaid annual maintenance fees.
In reviewing liquidity, readers can see if resorts are spending 'next year's money' by using prepaid assessments that will be needed in the coming months. With regards to financial performance, the study reviews operating deficits and the status of reserves. In addition, Withum's report looks at developer guarantees or subsidies, deeded-back inventory, and association-owned inventory, comparing branded versus independent, or non-branded, resorts.
Trends in assessments and expenses have been a major focus of the study throughout its 14-year history. Withum tracks the average total assessments of each resort for a weekly interval or its equivalent to compare increases, as well as operating expenses.
The study has provided verifiable historical data throughout the years and has helped resorts to identify potential problem areas. It has proven to be an invaluable resource in conveying areas of concern to boards and managers as they seek to improve their resort's financial health.
Parties seeking additional information about the study, or about services available from Withum, may contact Lena Combs (
) at (407) 849-1569. Click
to read Combs' article beginning on page 36 of the April 2018 edition of