March Blog
Just back from the front lines of fractional development and sales at the sold out Ragatz 08 conference. It was smashing in all areas; the most qualified attendees I’ve ever seen at any resort conference for new entrants, really good panels with as little hype as possible and some real substance.
Tooting the Star horn – Ron Frank gave the first ‘how do you sell’ a fraction presentation at any conference, Ragatz, ARDA, ULI or other…he worked on it to be specific and not BS. It was great. If you want a copy of the power point let me know.
Ash Offerman let the panel on product structure/use plans and delved into excellent examples of the varied nature of use plans and how they specifically relate to the market.
I had the 101 session and a brief 10 minutes in the sun, but I think the overview was comprehensive. That power point is available, too.
From Dick’s annual report the one statistic that stood out was that 91% of Robb Report subscribers had heard of fractions. The other one was that when asked where they would want to buy 83% said ‘give me the beach!’. Well, I guess that’s one reason we’re in Puerto Vallarta!
The tales one hears of deep Africa where there is a place that bull elephants go to die…you know that one? Well, we had our own version as it applies to former ARDA Chairmen. In chorological order George Donovan, Jerry Andres, yours truly and Ed McMullen, Sr. all present and standing.
There were lots of ‘deals’ floating around from Paris to Bermuda, to The Keys, to Costa Rica, to Toronto urban, to Idaho, the California desert back up to the Oregon coast over to Washington state and to Hawaii. That’s geography, and we did not get to the guys from India or Australia!
The consensus on the economy? Gonna wander a bit, but so far fractional sales are holding up just fine, and we expect them to continue. Going back to Dick Ragatz’s report…this mini-lull just hyper extends the pent up demand for fractional buyers.
Last notes: None other than Gordon McMahon, the originator of the luxury fractional product, was there. Originally at Tahoe in the 80s, [yes, there was a before, before the Deer Valley Club] and now the Oregon coast. A real treat to have the founder with us! Sons following fathers; Michael Kosmin, son of Alex, now with Lowe Enterprises and as competent as his dad; Malcolm McMullen presenting while dad Ed looked on; Allen Ten Broek getting lunch advice from son Bryan.
Jim Marmorstone with yet more fine ideas on how to make the product better for the buyer; Mel Grant finally launching his fractional exchange program [fractionalcollection.com]; Hart Rist of Bald Head Island, Carolinas, who named his dog after Dick ‘Ragatz’; Dick Bass of Snowbird still generating a big wake in his path; Mary Borgia, my ULI flight leader, who for reasons unknown came to 101 a second year in a row; Keith Cox the only guy to make the ‘one-offs’ work and now he has ten at Tahoe + others in SF, Hawaii and Tuscany;
Good folk all and many more.
