Greetings All,
Do you have a Google alert for 'fractions'? Once a day links to articles and blogs arrives from them.
What these daily reports demonstrate is the rapid growth of the fractions business in the usual and some quite unusual locations. I continue to wonder how many of these projects will find their way to an effective reservations plan, a realistic budget and most importantly to a very realistic view on the service level the project is to offer its owners.
Question: can a fractional project ever offer five star service levels as defined by either Mobile or AAA? I think not? Your opinion?
I look back at the Deer Valley Club, first in the world in its class, and then to our Northstar Club, now up and running for over five years and observe what owners value, what they are wiling to pay for - forget what the developer thought they would pay for - and what service levels are really offered post sell out. Comments and Observations?
Last week I spent a delightful few hours in the Napa wine country at Carneros Inn and their Orchards at Carneros Inn a 17-unit luxury fractional project a-building and ready for delivery this summer. Project exec. Phil Carville is an old pal from the Squaw Valley timesharing days. He has engineered an excellent development to complete the master plan of this mixed-use property: luxury hotel, terrific spa, three restaurants, etc. The hotel and fractions are managed by Plump Jack, who has a winery in the Napa Valley, restaurant in San Francisco and hotel in Squaw Valley -- no connection to Phil's earlier deal there.
Reed Anderson, late of Hemingways in Ketchum Idaho, is project sales manager. He's a talent. His spouse, Ann, is equally excellent in the hospitality set up side of the business. She's just finished a stint at the Rancho Santa Fe project.
How's the Registry Collection doing? I hear some talk of another independent exchange coming on line. Is it needed?
Pencil in the Ragatz Conference March 5-7 in San Francisco.
Here's to a grand 2007 for the business and for all of us!
Monday, December 25, 2006
Wednesday, December 06, 2006
As the winter selling season kicks off; our Star projects are under full sales. I'd like to commend our sales personnel for the excellent job I know they will do in the coming months. All these are fractional or private residence club products.
At the The Pinnacle, Purgatory Lodge, Durango CO, Michael Davis leads the team with both PRC and fractional products.
Expedition Lodge at Kirkwood Mountain Resort CA, Dede Bacon, Melisa Maxey and Gwen Niccoli are the sales pros.
For the Mt. Superior Residence Club, Snowbird Ski & Summer Resort UT, Bill Orwig and Peggy Wright will set new per square foot sales levels for the Rockies.
Meriwether Ranch, for the Meriwether Land & Cattle Company MT, Ron Frank, Jami Duffy and Josh Potvin are fortunate to have the Big Hole River in their back pocket.
Additionally, we welcome Bill Orwig as our sales director at Snowbird. Bill's one of the true pros in the business going back to the very start of the PRC business.
Like many companies Star uses the survey tool to generate prospects. At Snowbird and Freestone in WA [more about this property in later blogs] we have received record responses [for us at least] from those interested in buying fractions.
Jim Parker, another real sales pro, uses the acronym "PMS" with customers.
New to me, but probably old hat to others, it stands for, no, not that! but:
photos, memories and souvenirs from a vacation.
Another nice twist: "The Ritz Carlton of Private Residence Clubs" seen in their recent print ads.
At the The Pinnacle, Purgatory Lodge, Durango CO, Michael Davis leads the team with both PRC and fractional products.
Expedition Lodge at Kirkwood Mountain Resort CA, Dede Bacon, Melisa Maxey and Gwen Niccoli are the sales pros.
For the Mt. Superior Residence Club, Snowbird Ski & Summer Resort UT, Bill Orwig and Peggy Wright will set new per square foot sales levels for the Rockies.
Meriwether Ranch, for the Meriwether Land & Cattle Company MT, Ron Frank, Jami Duffy and Josh Potvin are fortunate to have the Big Hole River in their back pocket.
Additionally, we welcome Bill Orwig as our sales director at Snowbird. Bill's one of the true pros in the business going back to the very start of the PRC business.
Like many companies Star uses the survey tool to generate prospects. At Snowbird and Freestone in WA [more about this property in later blogs] we have received record responses [for us at least] from those interested in buying fractions.
Jim Parker, another real sales pro, uses the acronym "PMS" with customers.
New to me, but probably old hat to others, it stands for, no, not that! but:
photos, memories and souvenirs from a vacation.
Another nice twist: "The Ritz Carlton of Private Residence Clubs" seen in their recent print ads.
Saturday, November 18, 2006
November 18th...
"Incremental becomes core"
When marketing a fractional project the added advantage is to have a project that controls the flow of customers like Snowbird, Purgatory/Durango and Kirkwood/Lake Tahoe. These developers own their ski mountain, all or much of the housing and food, beverage and retail operations, so their databases are the primary customers for the fractional purchase. What a great position to be in!
Well, what up if this is not the case. Our experience has shown that in way too many cases the marketing plan shotguns so broadly that it is ineffective.
Ron Frank, marketing and sales guru, coined the opening line. Incremental pockets of interest, small targets collectively become the core and primary market and the foundation of the overall marketing plan.
We see this at Meriwether Ranch in Montana, and building at Saguaro Ranch in Tucson. It takes discipline and innovation to find the small markets and aggregate them to make a major market to sell the fractions at a brisk pace.
Tatanka Spirit, Black Hills, has opened up their first fractional home. Being an owner at Tatanka I plan to use the home in January for a quick get-a- way. Jim Farmer, developer, has done a magnificent job with the FF&E including original ironwork and art. I can taste the juicy Buffalo steak right now!
"Incremental becomes core"
When marketing a fractional project the added advantage is to have a project that controls the flow of customers like Snowbird, Purgatory/Durango and Kirkwood/Lake Tahoe. These developers own their ski mountain, all or much of the housing and food, beverage and retail operations, so their databases are the primary customers for the fractional purchase. What a great position to be in!
Well, what up if this is not the case. Our experience has shown that in way too many cases the marketing plan shotguns so broadly that it is ineffective.
Ron Frank, marketing and sales guru, coined the opening line. Incremental pockets of interest, small targets collectively become the core and primary market and the foundation of the overall marketing plan.
We see this at Meriwether Ranch in Montana, and building at Saguaro Ranch in Tucson. It takes discipline and innovation to find the small markets and aggregate them to make a major market to sell the fractions at a brisk pace.
Tatanka Spirit, Black Hills, has opened up their first fractional home. Being an owner at Tatanka I plan to use the home in January for a quick get-a- way. Jim Farmer, developer, has done a magnificent job with the FF&E including original ironwork and art. I can taste the juicy Buffalo steak right now!
Saturday, November 04, 2006
November now. What a year it’s been so far!
The fractional world has exploded with new projects in all parts of North America. Destination clubs have taken a real ‘hit’ with the ‘bk’ filing of Private Retreats, nee, nee, nee.
Tom Fulton, ex Private Retreats and now Ephinany Club is still offering guaranteed access. Learned his lesson? I guess not.
Dave Bansmer strikes at Sea Island, where he headed after getting the Registry Collection back on track. They are offering a membership with use nights for a mere $875,000, founder’s pricing, with a 100% buyback guarantee. They can do it, and who would ever back out of Sea Island and risk loosing their reputation for being elite down there in Georgia?
Birth of a true 5* resort taking place in NW Tucson at Saguaro Ranch. Talk about ‘doing it right’ with the infrastructure, the sites, and now the village core including condo hotel casitas that will be gorgeous and expensive….how does $4-5 million sound?
Snowbird, Mt. Superior Residence Club, the survey returns are flooding in, huge response numbers and very, very favorable for the $2000 per foot sales price for the three and four bedroom condos.
Why is it so hard to get sales reporting systems straight? At almost every project we have it seems that there are kinks to getting fractions presented and closed in a straightforward manner. There are good reasons, sure, but ‘clear the decks’ has been our task over and over again as other realize that fractions are not an add-on product that the general sales line can sell as an after [or fore] thought.
Star’s sales manager ‘Sales Management 403’ will debut in December, with all our manages coming for this ‘senior’ level course before going on to a grad level program in 07.
The fractional world has exploded with new projects in all parts of North America. Destination clubs have taken a real ‘hit’ with the ‘bk’ filing of Private Retreats, nee, nee, nee.
Tom Fulton, ex Private Retreats and now Ephinany Club is still offering guaranteed access. Learned his lesson? I guess not.
Dave Bansmer strikes at Sea Island, where he headed after getting the Registry Collection back on track. They are offering a membership with use nights for a mere $875,000, founder’s pricing, with a 100% buyback guarantee. They can do it, and who would ever back out of Sea Island and risk loosing their reputation for being elite down there in Georgia?
Birth of a true 5* resort taking place in NW Tucson at Saguaro Ranch. Talk about ‘doing it right’ with the infrastructure, the sites, and now the village core including condo hotel casitas that will be gorgeous and expensive….how does $4-5 million sound?
Snowbird, Mt. Superior Residence Club, the survey returns are flooding in, huge response numbers and very, very favorable for the $2000 per foot sales price for the three and four bedroom condos.
Why is it so hard to get sales reporting systems straight? At almost every project we have it seems that there are kinks to getting fractions presented and closed in a straightforward manner. There are good reasons, sure, but ‘clear the decks’ has been our task over and over again as other realize that fractions are not an add-on product that the general sales line can sell as an after [or fore] thought.
Star’s sales manager ‘Sales Management 403’ will debut in December, with all our manages coming for this ‘senior’ level course before going on to a grad level program in 07.
Friday, October 20, 2006
It's Friday, October 20th, and I've just returned from the ULI Convention in Denver. For all ARDA folk - this is where the action takes place outside of timesharing. And, I'm including fractional products in that statement. The resort component of the 32,000 membership of ULI is in their Recreational Development Councils. As I've written before, among these resort developers, there is significant [make that in caps!] interest in the fractional product. Many have projects under way, others in planning and still others learning about fractions and all their derivatives.
I believe that major fractional players, who are not in ULI, need to be there.
I was also reminded that fractional interests are still a rather new product, and there has been and still is a lot of trial and error in the use plans that are designed and reciprocity programs. There will be some failures.
As seems common there was some confusion, but less this year, about fractions and non-equity clubs. Are they the same? No! Can the term 'private residence club' be used for a non-equity club? Not in our universe! One of the breakout groups had a panel with Exclusive and a former exec from the failed Private Retreats/A&K/Tanner & Haley. Until these clubs accept some form of regulation and ensure for their members that the dwellings they purchase for them are debt free the major risk continues.
On the flip side - hey, great for we fractional developers standing there with deed in hand!
At this meeting Star Resorts was 'fully loaded' with Chris Tivey, Rich Feldheim and Christine Zahedi all there and participating in the resort groups.
My view of an explosion of fractional programs from very established developers should give rich fodder for Dick Ragatz and his next conference all the while leaving ARDA pretty much out in the cold due to their requirement that all speakers be members of ARDA. At this juncture most all fractional practitioners see no value in ARDA membership, hence, the panels dealing with fractions are only half-loaded. Wasn't there an expression....the chicken or the...?
What's lacking for fractions to continue straight up without hitches?
#1. Separation from the non-equity folk.
#2. Detailed programs to understand the nuances of the business of which there
are a multitude.
#3. Experienced talent in product formation, marketing & sales
#4. Exchange options
#5. Media support so buyers will understand that fractions are the 'smart choice'
I believe that major fractional players, who are not in ULI, need to be there.
I was also reminded that fractional interests are still a rather new product, and there has been and still is a lot of trial and error in the use plans that are designed and reciprocity programs. There will be some failures.
As seems common there was some confusion, but less this year, about fractions and non-equity clubs. Are they the same? No! Can the term 'private residence club' be used for a non-equity club? Not in our universe! One of the breakout groups had a panel with Exclusive and a former exec from the failed Private Retreats/A&K/Tanner & Haley. Until these clubs accept some form of regulation and ensure for their members that the dwellings they purchase for them are debt free the major risk continues.
On the flip side - hey, great for we fractional developers standing there with deed in hand!
At this meeting Star Resorts was 'fully loaded' with Chris Tivey, Rich Feldheim and Christine Zahedi all there and participating in the resort groups.
My view of an explosion of fractional programs from very established developers should give rich fodder for Dick Ragatz and his next conference all the while leaving ARDA pretty much out in the cold due to their requirement that all speakers be members of ARDA. At this juncture most all fractional practitioners see no value in ARDA membership, hence, the panels dealing with fractions are only half-loaded. Wasn't there an expression....the chicken or the...?
What's lacking for fractions to continue straight up without hitches?
#1. Separation from the non-equity folk.
#2. Detailed programs to understand the nuances of the business of which there
are a multitude.
#3. Experienced talent in product formation, marketing & sales
#4. Exchange options
#5. Media support so buyers will understand that fractions are the 'smart choice'
Tuesday, October 03, 2006
How Thin is the Fractional Marketplace?
That's 'thin' on talent on the side of those of us 'in the business'.
Star just finished a two-day planning session, and we got talking about how to gauge ourselves, best practices, etc. We came to the conclusion that there are very, very few companies that focus exclusively on luxury fractions, and of that few, few are really good at it.
So, our goal to 'continue to be the best' in our universe, upon analysis, became a limiting goal rather than an inspiring goal. We have set our sites substantially above any other company in the business to make sure we deliver the goods for our projects and those of our developer clients.
What's that say about the fractions business? It's a partial indicator of a new niche business. But, it's also a statement that many developers assume they can successfully expand their offerings to include fractions and use their same sales staff to handle the addition.
Not so in our experience, but time will tell.
The timeshare selling model is well known, like it or not. The fractional sales model is being designed and developed each and every day. Those in the business for a long time, like Star, have learned the best performing lessons, and we continue to refine our capabilities to stay on point.
We recently promoted Ashley Offermann to VP of Project Management. His portfolio includes Purgatory Lodge, Durango CO and Mt. Superior Residence Club, Snowbird UT.
Also, joining Star is Chris Cannon designer and marketer of the first rank. He's worked with us for a number of years, but is now full time. We are handling multi million dollars in marketing budgets and he leads that effort along with our Chris Tivey who continues his duties as President and COO.
Lastly, Gary Bixler has joined us as VP Project Management with the Expedition Lodge, Kirkwood CA and Saguaro Ranch, Tucson AZ has his portfolio.
I continue to have Meriwether Ranch and all the new business development.
That's 'thin' on talent on the side of those of us 'in the business'.
Star just finished a two-day planning session, and we got talking about how to gauge ourselves, best practices, etc. We came to the conclusion that there are very, very few companies that focus exclusively on luxury fractions, and of that few, few are really good at it.
So, our goal to 'continue to be the best' in our universe, upon analysis, became a limiting goal rather than an inspiring goal. We have set our sites substantially above any other company in the business to make sure we deliver the goods for our projects and those of our developer clients.
What's that say about the fractions business? It's a partial indicator of a new niche business. But, it's also a statement that many developers assume they can successfully expand their offerings to include fractions and use their same sales staff to handle the addition.
Not so in our experience, but time will tell.
The timeshare selling model is well known, like it or not. The fractional sales model is being designed and developed each and every day. Those in the business for a long time, like Star, have learned the best performing lessons, and we continue to refine our capabilities to stay on point.
We recently promoted Ashley Offermann to VP of Project Management. His portfolio includes Purgatory Lodge, Durango CO and Mt. Superior Residence Club, Snowbird UT.
Also, joining Star is Chris Cannon designer and marketer of the first rank. He's worked with us for a number of years, but is now full time. We are handling multi million dollars in marketing budgets and he leads that effort along with our Chris Tivey who continues his duties as President and COO.
Lastly, Gary Bixler has joined us as VP Project Management with the Expedition Lodge, Kirkwood CA and Saguaro Ranch, Tucson AZ has his portfolio.
I continue to have Meriwether Ranch and all the new business development.
Wednesday, September 13, 2006
Mac MacEwan, marketing guru, recalled that at the Ragatz conference last Spring it was said that the next evolvement with fractions would be vertical market projects focusing in on one, particular activity.
As mentioned in an earlier blog Star Resorts is fortunate to be working with The Meriwether Ranch located on the famous Big Hole River in Western Montana. This is a fishing resort first, with a host of other activities available including use of a compnay owned guest ranch up in the Pioneer Mountains at exclusive rates.
A few months ago I published, borrowing from our Chris Tivey's speech at Ragatz, the 10 elements for a successful fractional project. Well, very few apply to a vertical resort to use that term
So, here are my top eleven -- 11 -- elements for a successful vertical resort property with apoligies to Chris:
*Located in a superb area for the primary activity
*The best location within that area
*Credible developer
*Goods and services available within reasonable drive
*Very expensive property for sale in the surrounding area
*A long, major season that fits the primary activity
*First to market or close to it
*Access to past and repeat visitors
*Access via a commercial airport or jet approved private strip
*Great history or storytelling opportunities
#11 a use plan designed to match the buyer's use of the Club probably the most important of them all!
So, when the owner of Meriwether Ranch told me that my top ten list did not apply; well I hope this one does!
As mentioned in an earlier blog Star Resorts is fortunate to be working with The Meriwether Ranch located on the famous Big Hole River in Western Montana. This is a fishing resort first, with a host of other activities available including use of a compnay owned guest ranch up in the Pioneer Mountains at exclusive rates.
A few months ago I published, borrowing from our Chris Tivey's speech at Ragatz, the 10 elements for a successful fractional project. Well, very few apply to a vertical resort to use that term
So, here are my top eleven -- 11 -- elements for a successful vertical resort property with apoligies to Chris:
*Located in a superb area for the primary activity
*The best location within that area
*Credible developer
*Goods and services available within reasonable drive
*Very expensive property for sale in the surrounding area
*A long, major season that fits the primary activity
*First to market or close to it
*Access to past and repeat visitors
*Access via a commercial airport or jet approved private strip
*Great history or storytelling opportunities
#11 a use plan designed to match the buyer's use of the Club probably the most important of them all!
So, when the owner of Meriwether Ranch told me that my top ten list did not apply; well I hope this one does!
Wednesday, September 06, 2006
The beat continues...more and more fractional projects being discussed, planned, financed and launched. The talking stage, as previously reported, is huge. Projects are coming out of the woodwork many with little or no skilled folk behind them.
At Star we still maintain that fractions are the hardest sell we have ever accomplished. There are so many pitfalls for the inexperienced developer or salesperson from the product to the use plan to how best to present the reservations cycle and the budget.
We are launching sales in 5 projects this fall: Durango, Kirkwood, Tucson, Snowbird and Dillon Montana.
Without Salesforce's web based lead tracking system we'd be in a deep hole. We have adapted the 'off-the-shelf' program to our specific needs.
Joining Star is Chris Cannon making our own dynamic duo with Chris Tivey. Tivs has always beenn the best in the business, and now he has a mirror image to not double efficiency, but to cube it.
At Star we still maintain that fractions are the hardest sell we have ever accomplished. There are so many pitfalls for the inexperienced developer or salesperson from the product to the use plan to how best to present the reservations cycle and the budget.
We are launching sales in 5 projects this fall: Durango, Kirkwood, Tucson, Snowbird and Dillon Montana.
Without Salesforce's web based lead tracking system we'd be in a deep hole. We have adapted the 'off-the-shelf' program to our specific needs.
Joining Star is Chris Cannon making our own dynamic duo with Chris Tivey. Tivs has always beenn the best in the business, and now he has a mirror image to not double efficiency, but to cube it.
Sunday, August 06, 2006
Well, the other shoe hit the deck with Tanner & Haley nee Private Retreats. It was common knowledge that they were headed that way. The Wall Street Journal has had two pieces on them. Glad Star is not in that business! This is, however, a wonderful opportunity for deeded fractionals to pipe up and let their universe know that fractions are the way to go along with the exchange option via Registry Collection nee World's Finest Resorts.
The opportunists of the world never cease to make it difficult for the rest of us. From the get-go Private Retreats was a flawed model shamelessly promoted to the wealthy.
Fractions continue to boom!
At Star we just couldn't be busier with Snowbird, Durango, Kirkwood, the Black Hills, Tucson, Carmel Valley and a host of new projects that may come our way in the Florida Keys, out in the Hamptons, Southern Montana Manhattan and others. We continue to see very qualified developers enter the business with well-conceived business plans. It's a joy to work with those who know their business!
The opportunists of the world never cease to make it difficult for the rest of us. From the get-go Private Retreats was a flawed model shamelessly promoted to the wealthy.
Fractions continue to boom!
At Star we just couldn't be busier with Snowbird, Durango, Kirkwood, the Black Hills, Tucson, Carmel Valley and a host of new projects that may come our way in the Florida Keys, out in the Hamptons, Southern Montana Manhattan and others. We continue to see very qualified developers enter the business with well-conceived business plans. It's a joy to work with those who know their business!
Thursday, June 29, 2006
Yesterday, June 27th was a bittersweet day: Dave Ellsworth’s memorial service. As befitting Dave’s life it seemed that most of the hundreds of attendees had flown into San Francisco to honor Dave. Not make light of a terrible event, but Dave’s closet has to be packed full of frequent traveler miles. Reports of Puerto Vallarta for lunch, Hawaii for breakfast, DC for dinner and then the red eye back.
Guests came from Anchorage, Honolulu, Washington DC, and lots from LA, where Dave used to live, Phoenix and all over the USA. I’m glad I didn’t have meetings this morning with all who took red eyes to get back on schedule. Delta, American and United reported the Dave fan club took most of their first class seats!
I guess about a quarter of those there were from our business. Befitting a multi-dimensional guy, as was Dave, he had friends from many cross sections of life. His son and daughter, and their spouses, his life partner and other family members got through the service focusing on what Dave/Dad had given them as much as how they were going to miss him. But, the loss was still there. The great portrait size photo of Dave in font of Gleneagles and the last Power Point slide of Dave sitting in a chair, on the beach, looking right at the camera with that ‘I love life’ grin on his face.
The common theme of the afternoon: Dave thought big, lived big, covered big geography in his business and was singular in his dedication to his family. For certain he had a big heart.
Guests came from Anchorage, Honolulu, Washington DC, and lots from LA, where Dave used to live, Phoenix and all over the USA. I’m glad I didn’t have meetings this morning with all who took red eyes to get back on schedule. Delta, American and United reported the Dave fan club took most of their first class seats!
I guess about a quarter of those there were from our business. Befitting a multi-dimensional guy, as was Dave, he had friends from many cross sections of life. His son and daughter, and their spouses, his life partner and other family members got through the service focusing on what Dave/Dad had given them as much as how they were going to miss him. But, the loss was still there. The great portrait size photo of Dave in font of Gleneagles and the last Power Point slide of Dave sitting in a chair, on the beach, looking right at the camera with that ‘I love life’ grin on his face.
The common theme of the afternoon: Dave thought big, lived big, covered big geography in his business and was singular in his dedication to his family. For certain he had a big heart.
Monday, June 19, 2006
June 18th was a very sad day for the resort development business and for all the friends of Dave Ellsworth, who had a massive heart attack in Palm Springs and passed away.
What a guy!
I first met Dave as board members of American Resort in the early 80s. He was a top flight lawyer in LA with a specialty in Mexico about, well, 15 years ahead of his time. But, he helped to build the Mexican resort industry through his legal work, later his financing work and development and marketing skills.
Dave's home was perched atop 999 Green Street on San Francisco's Russian Hill. He moved in and I out, ,just half a block away. We stayed in contact, off and on, over the years until three years ago, when he gave me the gift of my business life by sponsoring me into ULI [Urban Land Institute] and onto one of their Recreational Development Councils.
We talked last Monday, the 12th about a deal in Montana. As usual Dave's vision was broad and vivid, his facts sound and he was in the 'do' mode.
His son, Brett, and son in law, Kevin Roberts, are both top flight businessmen, and I know they will be successful in carrying forth Dave's life work.
What a guy!
I first met Dave as board members of American Resort in the early 80s. He was a top flight lawyer in LA with a specialty in Mexico about, well, 15 years ahead of his time. But, he helped to build the Mexican resort industry through his legal work, later his financing work and development and marketing skills.
Dave's home was perched atop 999 Green Street on San Francisco's Russian Hill. He moved in and I out, ,just half a block away. We stayed in contact, off and on, over the years until three years ago, when he gave me the gift of my business life by sponsoring me into ULI [Urban Land Institute] and onto one of their Recreational Development Councils.
We talked last Monday, the 12th about a deal in Montana. As usual Dave's vision was broad and vivid, his facts sound and he was in the 'do' mode.
His son, Brett, and son in law, Kevin Roberts, are both top flight businessmen, and I know they will be successful in carrying forth Dave's life work.
Sunday, June 04, 2006
June 4th
Star has signed to advise, market and sell villa-hotel units and then fractions at a simply georgeous resort in Tucson, Suguaro Ranch [saguaroranch.net] The developer, Stephen Phinny, has designed a masterpiece of a property.
So, I just finished answering the 10 top questions in the fertile mind of Scott Burlingame regarding the future of fractions. I had lots of stuff to give him as the business is booming. But, I've said that before.
A wonderful trip to Idaho on Thursday to see 600 acres across Cascade Lake [McCall area] from Tamarack the hot, new ski and summer resort. The property will be mixed use leading with lakefront fractional homes and the unual other mix for 500 total units. What a great area!
Mac MacEwan, marketer par excellence, has moved to Boise, so we made the ride together, and discussed ways Star and Mac can move forward our mutual goals.
Star has signed to advise, market and sell villa-hotel units and then fractions at a simply georgeous resort in Tucson, Suguaro Ranch [saguaroranch.net] The developer, Stephen Phinny, has designed a masterpiece of a property.
So, I just finished answering the 10 top questions in the fertile mind of Scott Burlingame regarding the future of fractions. I had lots of stuff to give him as the business is booming. But, I've said that before.
A wonderful trip to Idaho on Thursday to see 600 acres across Cascade Lake [McCall area] from Tamarack the hot, new ski and summer resort. The property will be mixed use leading with lakefront fractional homes and the unual other mix for 500 total units. What a great area!
Mac MacEwan, marketer par excellence, has moved to Boise, so we made the ride together, and discussed ways Star and Mac can move forward our mutual goals.
Saturday, May 27, 2006
Saturday, May 27th
Got back into TripAdvisor.com, a site that gives user ratings for rental properties. So, decided to look up projects I've done or been involved in. Is this a self serving statement, but they all rated either four of five or five of five. Hummm. Well, we knew we wanted quality, and at least through this site it's being deliverd. For the shared ownership projects the reviews are from the sales period, when rentals occurred, or after sales if there is a rental program.
So, Manhattan Club scored big time, as did Northstar Club and Snowmass Club as well as Cristi Club. And, a-way back in 1974 we did Vail run, and lo and behold, 4 of 5 today! That is a suprise.
Our Avenue Plaze in New Orleans a kinda suprise 4 or 5. I thought it would average out at a 3.5 to 4.0. So much for what I know.
Not listed were Brockway Springs, the 1st timeshare in the World that gave a deed, Casa de la Playa in LaJolla, Cliff Club at Snowbird, Schooner Landing in OR, Kingsbury Crossing in NV and the Cottages at National, Pinehurst.
Got back into TripAdvisor.com, a site that gives user ratings for rental properties. So, decided to look up projects I've done or been involved in. Is this a self serving statement, but they all rated either four of five or five of five. Hummm. Well, we knew we wanted quality, and at least through this site it's being deliverd. For the shared ownership projects the reviews are from the sales period, when rentals occurred, or after sales if there is a rental program.
So, Manhattan Club scored big time, as did Northstar Club and Snowmass Club as well as Cristi Club. And, a-way back in 1974 we did Vail run, and lo and behold, 4 of 5 today! That is a suprise.
Our Avenue Plaze in New Orleans a kinda suprise 4 or 5. I thought it would average out at a 3.5 to 4.0. So much for what I know.
Not listed were Brockway Springs, the 1st timeshare in the World that gave a deed, Casa de la Playa in LaJolla, Cliff Club at Snowbird, Schooner Landing in OR, Kingsbury Crossing in NV and the Cottages at National, Pinehurst.
Wednesday, May 24, 2006
Monday, May 22, 2006
It's May 22nd rushing to June and the summer. I've been back from Ragatz for a few days now; time to reflect on the bonanza of deals there. There, and at ULI and those coming to Star via our reputation. This is not the feast or famine of the past. It's the wave that been building for some time.
We are now working with four sets of lawyers on different deals for Robles del Rio, Saguaro, Durando/Kirkwood and Tatanka Spirit. All involve the usual CC&Rs, but more importantly the use plans/reservation plans that really make the project go. From the timeshare days through to PRCs we have always been advocates of the proper use plan.
That does not mean the simple use plan, but the right use plan for the prospective owners at a project.
More on this later.
We are now working with four sets of lawyers on different deals for Robles del Rio, Saguaro, Durando/Kirkwood and Tatanka Spirit. All involve the usual CC&Rs, but more importantly the use plans/reservation plans that really make the project go. From the timeshare days through to PRCs we have always been advocates of the proper use plan.
That does not mean the simple use plan, but the right use plan for the prospective owners at a project.
Saturday, May 20, 2006
Saturday, May 20th, returned from the Fractional Conference in San Diego...last Ragatz/RCI meeting; next year they'll compete against each other. No love lost?
Georgi Bohrod had a great party Thursday night complete with lotsa pals. The quality of deals there was amazing to me. Last year the deals were speculative, no money, no zoning, no permits and in most cases no sense. This week they were ready to go in almost all elements. What a statement for the business!
The Star team saw potential projects from the SoCal coast to the Florida Keys, up to the Hamptons and out to Idaho with a stop at Snowbird, UT. I have an appetite to move forward, but our execution "guys", Chris, Christine and Ron, have the hard slogging to make them work. So, we’ll see which we can do.
. How good to see the lawyers four: Art Spaulding and Scott Turner, Steve Peterson and Roger Burk all in the flesh and not on the phone. As usual wonderful to see Annette Ragatz and Marcia Fabian the dynamic focus group pair. John Sweeney charges on as usual, amazing fellow. Ed, Sr. equally, and the same for Dick Bass squared! Lani from Ritz/Marriott is probably the best presenter and savvy big company exec I know, save for Big Bob of course. Howard N. continues to 'rap' the real stuff for ARDA.
Then, Dick Ragatz his self who has always looked down right ‘power exec’ in his navy blue suit, hosted his biggest clam bake since exception. I’m with him next year; staking out my allegiances.
Most vivid message to me: resident poet Jamie Klein from St Regis, for comparison of a timeshare sale to a fractional sale; the former took 90 minutes and the latter 250,000 minutes! No far off.
Plane ride back to Oakland was the cherry on the top with Rick Hulbert and Len Silverfine…two fine gents.
So, as many speakers used the term ‘from soup to nuts’ I have always thought who wants nuts for desert, so went to Google:
“Meaning: the whole thing from beginning to end
Origin: For centuries, any foods served at the beginning or end of a meal stood for the entire thing: the start and finish and everything in between. This expression was "from eggs to apples" and "from pottage to cheese." In the United States in the middle of the 20th century, the expression developed into "from soup to nuts." At many meals, soup is often the first course and a dessert with nuts is sometimes the last. The expression does not have to refer to only to meals, however. It could be the selection of goods for sale or classes offered.”
Georgi Bohrod had a great party Thursday night complete with lotsa pals. The quality of deals there was amazing to me. Last year the deals were speculative, no money, no zoning, no permits and in most cases no sense. This week they were ready to go in almost all elements. What a statement for the business!
The Star team saw potential projects from the SoCal coast to the Florida Keys, up to the Hamptons and out to Idaho with a stop at Snowbird, UT. I have an appetite to move forward, but our execution "guys", Chris, Christine and Ron, have the hard slogging to make them work. So, we’ll see which we can do.
. How good to see the lawyers four: Art Spaulding and Scott Turner, Steve Peterson and Roger Burk all in the flesh and not on the phone. As usual wonderful to see Annette Ragatz and Marcia Fabian the dynamic focus group pair. John Sweeney charges on as usual, amazing fellow. Ed, Sr. equally, and the same for Dick Bass squared! Lani from Ritz/Marriott is probably the best presenter and savvy big company exec I know, save for Big Bob of course. Howard N. continues to 'rap' the real stuff for ARDA.
Then, Dick Ragatz his self who has always looked down right ‘power exec’ in his navy blue suit, hosted his biggest clam bake since exception. I’m with him next year; staking out my allegiances.
Most vivid message to me: resident poet Jamie Klein from St Regis, for comparison of a timeshare sale to a fractional sale; the former took 90 minutes and the latter 250,000 minutes! No far off.
Plane ride back to Oakland was the cherry on the top with Rick Hulbert and Len Silverfine…two fine gents.
So, as many speakers used the term ‘from soup to nuts’ I have always thought who wants nuts for desert, so went to Google:
“Meaning: the whole thing from beginning to end
Origin: For centuries, any foods served at the beginning or end of a meal stood for the entire thing: the start and finish and everything in between. This expression was "from eggs to apples" and "from pottage to cheese." In the United States in the middle of the 20th century, the expression developed into "from soup to nuts." At many meals, soup is often the first course and a dessert with nuts is sometimes the last. The expression does not have to refer to only to meals, however. It could be the selection of goods for sale or classes offered.”
Monday, May 15, 2006
Life is Berry Berry Good
I've just been a part of the Commencement at my alma mater, the University of Idaho. Lots of changes since graduation in the '60s...naturally. Among the most clearly delineated was the call, by all the spakers in various ways, for community involvement as the cornerstone of our democracy. One speaker quoted lyrics from a song that went something like: "when the music plays you can it it out or you can dance."
Idaho is adding service learning into its curriculum, so students get a taste of the outside world while taking their classes. The "me-too" attitudes that seem so prevalent at times in our society can be revived to a "with you" attitude. The understanding that one gets more than they give is a valuable lesson to learn early on.
ARDA, the trade group for divided interested real estate, took years to get into the outreach business long after many projects had done so themselves. It took Christel DeHaan, after selling RCI to Cendant, to really move ARDA forward into community thinking with her charity, Christel House.
I spent last week at ULI's Spring Council meetings, rubbing shoulders with the "big guys" in our industry.
Urban Land Institute has a long tradition of giving back. Maybe urban developers began out of self-interest, but regardless...the concept is fully imbedded with ULI. Good for them!
I've just been a part of the Commencement at my alma mater, the University of Idaho. Lots of changes since graduation in the '60s...naturally. Among the most clearly delineated was the call, by all the spakers in various ways, for community involvement as the cornerstone of our democracy. One speaker quoted lyrics from a song that went something like: "when the music plays you can it it out or you can dance."
Idaho is adding service learning into its curriculum, so students get a taste of the outside world while taking their classes. The "me-too" attitudes that seem so prevalent at times in our society can be revived to a "with you" attitude. The understanding that one gets more than they give is a valuable lesson to learn early on.
ARDA, the trade group for divided interested real estate, took years to get into the outreach business long after many projects had done so themselves. It took Christel DeHaan, after selling RCI to Cendant, to really move ARDA forward into community thinking with her charity, Christel House.
I spent last week at ULI's Spring Council meetings, rubbing shoulders with the "big guys" in our industry.
Urban Land Institute has a long tradition of giving back. Maybe urban developers began out of self-interest, but regardless...the concept is fully imbedded with ULI. Good for them!
Life is Berry Berry Good: May 2006The Star Resort Group Newsletter will be out shortly, with details about our May 8 move to our new headquarter's location in Old Town,Scottsdale, on Craftsman Court, which we purchased a few months ago. Our other tenant is the Scottsdale Chamber of Commerce. Old Town is in a renaissance with major, mixed-use retail and residential projects going up on all sides.
Life is Berry Berry Good
Lake Havasu, AZ, home of the London Bridge, with its beginning as a land development deal, the first project to have an air force to fly in bueyrs and put them under the ether. Now, 40 years later: lo and behold it's a city of 50,000 and the #1 draw for the muscle boat crowd from Southern California and Arizona. I was there on Saturday May 6th for Star's condo hotel sales event coverting one of the hotel buidlings. With the background of the deep-throated roar of the power boats leaving our marina we sold out the building to our timeshareowners.
The next building will be sold to past guests of the Nautical Inn. Star owns the hotel and timeshare complex, golf coures, food and beverage operations, etc. Naurtical has the prime location on all of Lake Havasu. Our Rich Feldheim, Ron Taskey and Christine Zahedi managed the event along with Vern Porter, who has recently transferred from our Northstar at Tahoe fractional project sold out four years ago.
Lake Havasu, AZ, home of the London Bridge, with its beginning as a land development deal, the first project to have an air force to fly in bueyrs and put them under the ether. Now, 40 years later: lo and behold it's a city of 50,000 and the #1 draw for the muscle boat crowd from Southern California and Arizona. I was there on Saturday May 6th for Star's condo hotel sales event coverting one of the hotel buidlings. With the background of the deep-throated roar of the power boats leaving our marina we sold out the building to our timeshareowners.
The next building will be sold to past guests of the Nautical Inn. Star owns the hotel and timeshare complex, golf coures, food and beverage operations, etc. Naurtical has the prime location on all of Lake Havasu. Our Rich Feldheim, Ron Taskey and Christine Zahedi managed the event along with Vern Porter, who has recently transferred from our Northstar at Tahoe fractional project sold out four years ago.
Saturday, May 06, 2006
Life is Berry Berry Good
Our world is full of concentric circles and that holds true with the fractions business.
The Black Hills of South Dakota..who'da thought that next to Mt. Rushmore, where the buffalo roam, that fractional resort real estate would flourish. We're proving that right now. The folks there say the Black Hills are the highest mountains between the Pyranees (separating Spain and France) and the Rockie. That's a divided interest statement, a marketing statement. Sell the condo once and you say Alps to the Rockies. Divide up the condo (hey, that's a marketing idea!) and you've got fractions.
When I was in Patagonia last January, hiking the Andes, we got an offer to see a proposed fractional project in that general venue. Too far away from the markets, so we did not go and check it out; but it's proof that it is not hard to bump into fractions these days.
Our world is full of concentric circles and that holds true with the fractions business.
The Black Hills of South Dakota..who'da thought that next to Mt. Rushmore, where the buffalo roam, that fractional resort real estate would flourish. We're proving that right now. The folks there say the Black Hills are the highest mountains between the Pyranees (separating Spain and France) and the Rockie. That's a divided interest statement, a marketing statement. Sell the condo once and you say Alps to the Rockies. Divide up the condo (hey, that's a marketing idea!) and you've got fractions.
When I was in Patagonia last January, hiking the Andes, we got an offer to see a proposed fractional project in that general venue. Too far away from the markets, so we did not go and check it out; but it's proof that it is not hard to bump into fractions these days.
Thursday, May 04, 2006
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