2007 US timeshare Glance

Jya-Ning · #1 (**permalink**) 05-08-2008, 07:21 PM

The biggest 4 public trading TS company's 2007 results

Code:

Rev	2007			2006
				
WYN (Wyndham)	1,993	14%		1,743
HOT (Starwood)	1,025	2%	 	1,005
MAR (Marriott)	1,747	11%		1,577
BXG (Bluegreen)	453	14%		399

In 2006, total US TS developer sale has top 10 B. Look like it is 11B this year.

Of these 4, 3 compaiesy have seperate the operational cost of their TS

Code:

Expense	2,007			2006
HOT (Starwood)	758	3%	 	736
MAR (Marriott)	1,397	15%		1,220
BXG (Bluegreen)	290	8%		267.33

BXG reported 64% Rev to cost. 21% of rev is used at sales (or 33%) Wyndham is close to 50%

Wyndham measure the sales by 2 indexes
# of tours * Volume per Guest (or sale amount per guest)

Code:

	2007			2006
Tours	1,144,000	9%		1,046,000
Volume Per Guest (“VPG”) 	1,606	8%		1,486

So I guess the loss on the note must be count for 3%

Since II's parent company IAC International decides to split itself, It now have a little bit more detail on II's finacial data

The RCI data

Code:

RCI		2007			2006
Vacation Exchange and Rentals 					
Average number of members (in 000s)		3,526.00	5%		3,356.00
Annual dues and exchange revenues per member		135.85	0%		135.62
					
Vacation rental transactions (in 000s)		1,376.00	2%		1,344.00
Average net price per vacation rental		422.83	14%		370.93
					
Operation from RCI exchange		479.01	5%		455.14
Operation from RCI rental		581.81	17%		498.53

II data

Code:

Revenue: 		2007			2006
II		360.4	25%		288.6

Jya-Ning

GrayFal · #2 (**permalink**) 05-08-2008, 07:29 PM

LOL, I own with the top 3 - WYN, HOT, MAR....I guess I just need some BlueGreen now - but I don't think I can take learning another new system!!!

tonyg · #3 (**permalink**) 05-08-2008, 09:33 PM

I find it interesting that the average exchange and membership revenue per RCI member was only $ 135.85 last year. That means less than one exchange per member on the average.

bnoble · #4 (**permalink**) 05-08-2008, 09:48 PM

Remember that, for example, every Wyndham FSP owner is also an RCI member. I'm guessing most of them never use it.

GrayFal · #5 (**permalink**) 05-08-2008, 09:51 PM

Quote:

Originally Posted by bnoble

Remember that, for example, every Wyndham FSP owner is also an RCI member. I'm guessing most of them never use it.

Also, HGVC owners.....
There are probaly many 'members' that don't transact at all.

Jya-Ning · #6 (**permalink**) 05-08-2008, 11:01 PM

Their (RCI) exchange rate actually is lower, since their exchange fee has been increasing by 18% I believe. So they probably loss at least 18% of exchanges volumn.

Consider II increase 25%.

Not sure what is their cut when they rent out. Since they only net $422. Will be interest to see that number on this year. If it is like hotel, it will be very tough year on that part.

By the Way, BXG release 1st quarter earning tonight, and their sale for the timeshare are up. So even with weak economic, they get more sale volumn. That is quite achievement for their sales people.

Jya-Ning