Hilton Grand Vacations Announces Its First Caribbean Resort
Hilton Grand Vacations Inc. (NYSE:HGV) announces it has acquired interests in The Crane Resort in Saint Philip, Barbados. The timeshare weeks that will be available to HGV owners and guests will be branded “Hilton Grand Vacations at The Crane.” This will be HGV’s first offering in the highly desirable Caribbean market.
“Our owners tell us how much they love beach vacations, so we couldn’t be more excited to offer our first Caribbean destination within a world-class resort and a spectacular location,” says Mark Wang, president and CEO, Hilton Grand Vacations. “This new project is one more way we’re continuing to expand our brand presence and maximize customer experience.” READ MORE
Marriott timeshare plans $4.7B timeshare acquisition of ILG
WASHINGTON — Marriott Vacations Worldwide agreed to acquire Miami-based timeshare broker ILG Inc. in a cash and stock deal valued at $4.7 billion.
ILG offers timeshare owners a brokerage service that lets them swap their timeshare intervals for stays at more than 3,200 resorts. The company also has more than 40 properties in its own Vistana Signature Experiences and Hyatt Vacation Ownership portfolios.
ILG has 250,000 owners in its timeshare ownership portfolio. Its exchange network has nearly 2 million members.
When the acquisition closes, Marriott Vacations Worldwide will be the leader in the timeshare industry, with seven upper-upscale and luxury and vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club and Hyatt Residence Club.
Canadian Vacation Ownership Association Officially Joins the GSMC
CVOA announces that they have joined the GSMC work group to assist in constructing an operable framework of the vacation ownership industry’s secondary market.
After a successful launch of the Global Secondary Market Coalition, the CVOA announces that they have joined the GSMC work group to assist in constructing an operable framework of the vacation ownership industry’s secondary market.
The GSMC, originally conceived by the Association of Vacation Owners (AVO), was founded in an effort to develop best practices, review current licensing requirements and establish a code of ethical and responsible conduct for secondary market service providers.
Last month, the Cooperative Association of Resort Exchangers (C.A.R.E.), became the first industry association to join the GSMC. CVOA has followed in C.A.R.E.’s footsteps to be a part of a coalition whose values mirror its own. Since joining, CVOA is the Canadian representation of the GSMC.
The Cooperative Association of Resort Exchangers (C.A.R.E.) is proud to announce that is has joined the Global Secondary Market Coalition (GSMC) launched by the Association of Vacation Owners (AVO) earlier this year.
The GSMC is as a multi-national alliance of industry stakeholders that are engaged in creating best practices, reviewing current licensing requirements and establishing a code of ethical and responsible conduct for secondary market service providers in the U.S., Canada and Mexico.
With increasing complaints, continuing scrutiny by regulatory agencies and an ongoing need to maintain public trust, the AVO is encouraging leaders in the timeshare community to participate in the GSMC. C.A.R.E. member companies (and their customers) are being affected daily with secondary market activity and/or participating in it directly. C.A.R.E.’s Mission Statement is,“To promote ethical and outstanding vacation services by providing education and networking opportunities”. Therefore C.A.R.E.’s Board of Directors felt it was imperative to the association’s mission to get involved as a stakeholder in this initiative.
AVO Launches GSMC - Invites Stakeholders in Vacation Industry
Orlando, Florida, March 16, 2018 (PERSPECTIVE MAGAZINE) Association of Vacation Owners – AVO (formerly NTOA) is proud to announce the launch of the Global Secondary Market Coalition (GSMC) and welcomes industry trade associations in North America, along with leading vacation ownership companies to participate in this joint initiative.
Conceived as a multi-national alliance of industry stakeholders, the GSMC mandate will be to create best practices, review current licensing requirements and establish a code of ethical and responsible conduct for secondary market service providers doing business in the U.S., Canada, and Mexico.