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 STREET TALK INTERNATIONAL:
Week of October 31 - November 6, 2003
Street Talk is a compendium of tips, facts, gossip, rumors,
speculation and editorial comment.
PUBLISHED ON FRIDAY
E-mail: news@thetimesharebeat.com |
Email: street@thetimesharebeat.com
“I keep giving them my good weeks and all they offer me back is crap.” Jerry
Sikes has started a series on what is happening in the timeshare exchange world, and his take on the issues
is clear and concise. Last week: With Regard to Diminishing Returns!
This week: With Regard to Changing Rules
E-mail street@thetimesharebeat.com
MALAYSIA:
SELANGOR: Along the shores of a lake in Mines Resort City in Seri Kembangan
is a mixed development called South Lake, a project undertaken by Mines Golf Resort Bhd. Carrying
the theme South of the Mines, Venice of the East, South Lake can be considered the second phase of Managing
Director Tan Sri Lee Kim Yew's over all development plan for what was once the world’s largest open cast
tin mine. The first phase, which is already completed, comprises among others, the Palace of the Golden Horses
Hotel, the Mines Resort and Golf Club, the Mines Shopping Fair, the Mines Wonderland and
the Mines International Exhibition and Convention Centre. And like the developments of the North Lake, South
Lake will also reflect the scale and grandeur Lee is now well known for.
South Lake, which has a gross development value of RM1.5 billion comprises 11 components and will feature commercial,
residential and leisure properties with strong design elements of Mediterranean, Islamic and Peranakan influences.
Some of the noteworthy elements include The Heritage canal front commercial and service residence, The Mirage service
apartments and amphitheatre, The Venice waterfront shopping promenade, The Spanyol townhouses and condominiums,
The Street of Dreams bungalow enclave, and The Bali Island health spa and resort.
More than 1,500 people have registered to buy 900 units of the Heritage service apartment in the South
Lake development to be launched next month.
Purchasers of the two-bedroom unit can opt for the Sure To Gain Scheme for the next five years. Under
this scheme, a buyer would sell his unit to the Country Heights Vacation Club based on 51 timeshare members
sharing the unit.
At the end of seven years, according to the plan, one should be able to get back about double the value of the
original purchase price.
Country Heights is an Interval International-affiliated company whose home resorts are the astounding
Palace of the Golden Horses in Kuala Lumpur (see our Resort Spotlight) and
the Country Villas in Kajang, both in Malaysia. In addition they have an affiliation with over 30 resorts
in India, Thailand, Malaysia and New Zealand. Website: http://www.chvacationclub.com/
E-mail street@thetimesharebeat.com
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SPAIN:
COSTA DEL SOL: Spain's Ministry of Tourism predicts that more than one
million foreigners will set up home on the coast in the next six years, a figure expected to treble by the year
2025. Foreigners visit the Costa year after year, and after ten or 12 visits end up buying a second home here,
or sometimes a permanent residence, a trend which is on the increase.
Malaga possesses the largest number of residential tourists, in Andalucia, followed by the provinces of Cadiz
and Almeria. So far this year, 15 million holidaymakers have visited Andalucia. Last year 8.5 million tourists
chose Malaga, and by the end of this year the figure is expected to reach nine million. This bodes well for timeshare,
as well...
CZECH REPUBLIC:
PRAGUE: Prague is one of the most beautiful cities in Europe and attracts more
tourists than any other city in Eastern Europe. Since 1990 Prague has benefited from a massive growth in tourism,
with no sign of a slowing down. In the summer peak season, it sometimes seems to residents that the whole world
is visiting the city. Conoisseurs will tell you, however, that the best seasons are definitely spring and autumn
when Prague is very beautiful.
The attractiveness of Prague is due to a number of factors: the architectural grandeur, natural beauty of the setting
on the banks of the Vltava River, the sense of history, the cost of living and the quality of music and entertainment.
In a recent search of the online exchange company catalogs, RCI shows no timeshare resorts in the Czech
Republic. Interval International shows 2, neither of them in Prague, though the Fun and Adventure Club
at Erlebnishotel Nová Amerika is only 120 kilometers (75 miles) northeast of Prague (pets are allowed!).
We are wondering why there is not more timeshare available in this beautiful city, and if more is currently in
the works that we don't know about?
- YOUR COMMENTS
- Oct. 31: --" Prague
does have a considerable amount of tourists,
however most of them are staying in the City for less than a week. German and Austrian tourists (neighbor countries,
in case you do not know) are there usually for a short trip on a weekend as it is just a couple of hours away by
car. There is also a lot of American tourism in Prague, but most of them just pass by Prague, coming from Vienna
going to Munich. Typical American Holiday in Europe: 48 cities in 24 hours. In Short: Prague is not a typical Holiday
destination as such, and timeshare is traditionally aiming at holiday makers staying in one place for at least
a week. Therefore one might understand that developers are rather reluctant when thinking about investments in
Prague.
Marketing Companies, however, already discovered Prague as a market. There have been many marketers doing business
in Prague in the past, selling Spanish or other Mediterranean timeshare developments to Czech customers. The current
undisputed market leader is Platinum International with head office in Prague 4 and a sales deck right in the heart
of the old town in Prague in an historical building on ‘Male Namnesti’. Platinum International is selling a Maltese
resort, the Topaz Beach Club in Prague.
Another Company which operates since quite some time is ‘Kings Travel’. Kings travel is owned by an ex-Tenerife
British timeshare veteran and is selling RMI weeks as well as the Nova America Resort. The Company is said to have
gone through some financial difficulties but seems to be getting back on track.
Unfortunately the infamous pack operators followed the smell of money and caused great damage to the reputation
of timeshare in Prague by doing what they always do: cheating, lying, screwing etc etc….
It is certainly worthwhile to keep an eye on Prague for several reasons:
As of 2004 the Czech Republic will join the European Union which will result in the country having to implementing
the EU timeshare regulations. Most companies there (including market leaders) are simply not ready yet, for these
probably very drastic changes in the timeshare biz in Prague and will most likely have to face some rough times
until they went through the learning curve of how to sell timeshare in accordance to EU legislations.
On the other hand there are some companies just waiting for the market to become regulated in the Czech Republic
before entering.
Things will change there as of next year. Today’s market leaders might become insignificant and new Players might
enter and/or dominate the market. This is why Clever Marketing S:C in Spain has chosen Prague as a base to start
supplying Eastern European timeshare companies with Sales and Marketing Consultancy.
It’s no wonder that recently Representatives of several Spanish and German Timeshare Companies have been seen in
Prague (Club Access, RMI, Clever Marketing, TUI and others).
Watch it! It's going to be very interesting."
- Nov. 4: --" What
ever happened in Prague with Orion International?"
FRANCE:
The case of Margaret MacDonald, an Englishwoman jailed by a French court for operating a
callgirl ring, has the British press all a-dither, accusing France of hypocrisy. What does this have to do with
timeshare? Nothing, except...
Janet Street-Porter in The Independent says MacDonald is blameless, and named the guilty parties: " If
ever you want proof that men are two-faced bastards, consider the case of Margaret MacDonald. The chief executive
of a successful business which traded in 20 major cities, she employed nearly 600 operatives and was considered
a charming, fair boss. She wasn't a gun-runner, a drug dealer, a trader in body parts or a fly-by-night conwoman
operating a time-share scam.
" No one was forced to have sex with anyone they did not want to. Terms were agreed in advance. Yet the police
who arrested her called her a 'pimp'."
My, what a good reputation timeshare has. Lower than a madam running a prostitution ring. 
E-mail street@thetimesharebeat.com
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Street Talk is a compendium of tips, facts, gossip, rumors, speculation and editorial comment provided by The Timeshare Beat as an outlet for the free expression of its readers
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