Street Talk International Archives

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 and for their entertainment. The Timeshare Beat makes no assertion as to the veracity of the items contained herein. If erroneous information is inadvertently included and a correction to this information is subsequently sent to The Timeshare Beat, the correction will be prominently published. Opinions published within Street Talk are the opinions of the authors thereof and are not necessarily the opinions of The Timeshare Beat.

STREET TALK INTERNATIONAL:

Week of Sept. 10 - Sept. 16, 2004

" The theory of a free press is that truth will emerge from free discussion, not that it will be presented perfectly and instantly in any one account." -- Walter Lippmann

Street Talk is a compendium of tips, facts, gossip, rumors, speculation and editorial comment.
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Email: street@thetimesharebeat.com

Some, but by no means all, of the timeshare resorts and companies in the Caribbean, Florida, Georgia and the Carolinas affected by hurricanes Charley, Frances and Ivan have posted information on their Web sites about the extent of damage incurred- or not incurred- to their properties. (If there is no listing here for small, independent resorts, it's because there was no information listed on their Web site as of press time or- worse- they don't even have a Web site.) Islands hit hard by Ivan as of press time include Barbados, Grenada

If we missed your resort/company and you would like to be included, let us know: street@thetimesharebeat.com Here are some links:

In addition, RCI has posted a list of resorts affected by the hurricane in their travel advisory section. You can find it at http://www.rci.com/CDA/Travel_Center/tmpAdvisoryTop/1,5516,,00.html (Choose the area you want to see from the drop-down box)

We couldn't find a similar list on Interval International's Web site. Is there one that we simply overlooked?

Storm warnings for Hurricane Ivan stretched from Trinidad and Tobago in the south to the French territory of Martinique in the north, and included Barbados, St. Lucia, Grenada and St. Vincent and the Grenadines. As of press time, Ivan, a rare Category 5 hurricane, has glanced across Barbados, devastated Grenada and is heading toward Jamaica and Cuba.

Its track shows potential for reaching Florida. Evacuation orders have already been issued for the Florida Keys.

Historically, over the last 120 years 80% of storms on Ivan's track have moved into the Gulf of Mexico. So keep your fingers crossed, and if you're a praying person it wouldn't hurt to do some.

For online information on current and past hurricanes, try these links:

Sept. 13: Details and the most current updates on Jamaica's response to Hurricane Ivan are posted on the Jamaica Tourist Board Web site at http://www.visitjamaica.com/.

Sept. 14: Find information about the condition of the Cayman Islands at http://www.caymanislands.ky/

Email: street@thetimesharebeat.com

A S I A

INDIA:
MUMBAI (BOMBAY): In the Getting BIGGER category, Club Mahindra Holidays has outlined a Rs 100-crore investment in building resorts in international and domestic markets (1 crore =10 million rupees 1 US Dollar= 46.34 rupees). It will soon set up resorts overseas, mainly across Asia. It is looking at building at least four resorts in destinations like Thailand, Malaysia, Sri Lanka and Maldives. Club Mahindra will be the first and only Indian timeshare or holiday exchange company to have an international presence.

The resorts will be rolled out over the next 2-3 years. International expansion is estimated to cost the company around Rs 50-60 crore, which will be funded by internal accruals. Club Mahindra will build resorts or lease out resorts for a tenure of 25 years.

Club Mahindra has a popular resort in the cool uplands of southern India, Club Mahindra Lake-View Munnar, where tea is grown and the temperatures are cool. The Beat did a Spotlight on this area and property a few years ago. If you're interested, you'll find it here: http://www.thetimesharebeat.com/specs/spec65.htm

MALAYSIA:
PENANG: Datuk Abdul Rahim Saibu, who controls the Penang Outer Ring Road (PORR) project, was appointed Tanco Holdings Bhd chairman on Sept 1. The announcement was made to Bursa Malaysia on the same date.

This led to speculation in the market whether Rahim will inject the PORR tolled road project into Tanco, a property development and timeshare holiday group.

After the announcement, Tanco's shares were actively traded, with 1.3 million shares changing hands. The shares closed at 8 sen, up 2.5 sen on Sept. 2

On August 31, the day before the announcement, Tanco reported a net loss of RM15.9mil, or loss per share of 4.8 sen for the first half-year ended June 30. Its net tangible assets remained positive at 51 sen a share.

The group's principal activities are in the development of Bandar Country Homes in the Klang Valley, Palm Springs Resort in Port Dickson and Tanco Resorts Bhd, a timeshare holiday business.

E-mail street@thetimesharebeat.com

CARIBBEAN


THE BAHAMAS:
Though we don't have details on the status of timeshare resorts in the Bahamas yet, Hurricane Frances hit some of the islands hard, leaving thousands without homes, water or electricity. Especially hard-hit was the West End of Grand Bahama.

Hurricane relief supplies continue to be sent into Grand Bahama, with the United States Coast Guard spearheading two shipments of supplies to residents on the northern island Sept. 8.

The supplies were donated by the Office of U.S. Foreign Disaster. Seven members of the U.S. Coast Guard traveled on a C-130 cargo aircraft from Nassau to Grand Bahama carrying relief supplies that consisted of plastic sheeting for the construction of temporary shelters and roof repairs disaster hygiene kits that contained soap, toothpaste, shampoo, a toothbrush, plastic water containers and water bladder kits for the storage of clean drinking water.

Discovery Cruise Lines has agreed to ship 60,000 gallons of water per day to Grand Bahama onboard one of its ships.

A Connecticut-based company has shipped $150,000 worth of relief supplies to Grand Bahama and intends to ship another $150,000 worth of supplies to the Bahamas next week. Those supplies will be sent to Abaco, Cat Island, Eleuthera and San Salvador.

We hope to have more details on the state of things soon.

USVI:
ST. THOMAS: Developer Alfredo Lowenstein is preparing to change forever the character and profile of the east bay by redeveloping the Vessup Bay and Muller Bay areas.

During the last year, Lowenstein's multiple land purchases on the East End have raised the ire of many local residents.

In late July, Lowenstein purchased 17 acres of East End land near Vessup Beach and Muller Bay for $3 million. That deal followed other purchases by Lowenstein in the area:

  • $9 million for 26 acres of undeveloped land on Cabrita Point, where he plans to build three more Ritz-Carlton luxury timeshare buildings and high-end residential homes.
  • $1.5 million for 4 acres on Cabrita Point.
  • $497,000 for nearly an acre near Muller Bay.

Lowenstein has said his plans for the Vessup and Muller bays area include a 50-room hotel, 130 condominiums and his own private residence. He also plans to develop the marina and add another restaurant.

For the Cabrita Point property, Lowenstein has partnered with the Ritz-Carlton to build three more of the hotel's luxury private residence club buildings and also plans to build high-end residential homes.

Lowenstein's company, Lionstone Hotels and Resorts, already owns, leases and manages seven hotels in south Florida and the Caribbean.

E-mail street@thetimesharebeat.com

The UK & EUROPE


MALTA:
The Malta Tourism Authority has reminded marketing companies and operators of timeshare resorts of the provisions of Legal Notice 299 of 2004 ‘Timeshare Promotion (Licensing of OPC Representatives) Regulations 2004’, which provides for the licensing of OPCs, and " the regulation of the conduct of such persons" when they make contact with prospective buyers.

Marketing companies and timeshare resort operators have a legal obligation to ensure that all OPCs representing their companies/resorts are properly licensed and wear the identification tag issued by the Malta Tourism Authority, when selling timeshare.

Since the coming into force of these regulations, the MTA has processed over 75 applications for licences for OPC representatives. The Authority’s Enforcement Directorate, together with the Police, has stepped up inspections to check on unlicensed OPCs and to curb harassment of tourists by timeshare representatives. Apparently, tourists are alread breathing a sigh of relief...

SPAIN:
MALAGA: Timeshare sales reps Nicola Wren, 25, and the baby's dad, Nicholas Brown, 33, were held in a Malaga jail after allegedly abandoning their seven-week-old baby after a drink-fuelled row on July 22. See the story: SPANISH JAIL MUM STRANDED

UK:
EXETER: Stones Solicitors has added to its Exeter commercial team with the hire of associate solicitor James Eveling. Eveling, who most recently worked as a legal adviser in Australia after a tenure at CMS Cameron McKenna, will be responsible for advising on the commercial aspects of Stones’ timeshare practice and will also focus on all legal matters relating to corporate/commercial transactions.

E-mail street@thetimesharebeat.com

MEXICO


ZIHUATANEJO: Did you know that Intrawest is building a Club Intrawest in Zihuatanejo? Not Ixtapa, but Zihua. Overlooking the famous Playa de la Ropa (La Ropa Beach), in what was an arroyo, the 91-unit Club is built on multiple levels that descend the hillside toward the beach. The cascading architecture and open-air design capture spectacular ocean views from every angle. Hand-cut tiles, palapa roofs and tactile fabrics reflect the rich culture of the region. Local artisans handcrafted all the Club’s furnishings.

Studios sleep 2 with King bed, mini-kitchen, and partial ocean views from balconies. One-bedroom ocean view suites sleep up to 4 with King bed, King sofa bed in the living area, mini-kitchen, outdoor dining area, two baths (one with outdoor shower), and plunge pool on the balcony. Two-bedroom ocean view suites sleep up to 6 with King bed, queen and twin bed, and King size sofa bed in the living area, indoor and outdoor dining, 3 baths, and plunge pool. One 3-bedroom penthouse suite sleeps up to 8 featuring two levels, 2 plunge pools, full kitchen and more.

It's our understanding that it should open in December this year. Yes? No? Are they selling there? Who's in charge?

To the consternation of many locals and resident expats, who had expected all the big new fancy stuff to stay in Ixtapa, Zihua is kind of being paved over with fancy new resorts and residential development. Said one disenchanted local, " As The Eagles sang, " Call some place Paradise... kiss it good-bye."

PUERTO VALLARTA: In the People on the Move category, last week Enrique Soto got promoted to became the PD for a new resort in Aruba that Royal Holiday purchased recently, leaving Art Denning, formerly with Club Regina, P.V., as the new room manager at Royal Holiday Club. Mercedes Cordero finally got promoted to assistant manager of Club Regina P.V. and Joaquin Villanueva -the famous " Padre Santo" - is the new assistant manager for Buganvilias Resort @ Sheraton. Congratulations to all of you, and good luck!

E-mail street@thetimesharebeat.com

Quotable quotes: " A verbal contract isn't worth the paper it's written on." -Samuel Goldwyn

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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 and for their entertainment. The Timeshare Beat makes no assertion as to the veracity of the items contained herein. If erroneous information is inadvertently included and a correction to this information is subsequently sent to The Timeshare Beat, the correction will be prominently published. Opinions published within Street Talk are the opinions of the authors thereof and are not necessarily the opinions of The Timeshare Beat.

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