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. 17 - Sept. 23, 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.
PUBLISHED ON FRIDAY
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As of press time Sept 17, RCI listed over 100 resorts impacted by hurricanes this year. We still could not access a damage report on Interval International's Web site, but reports indicate somewhere in the vicinity of 65 resorts impacted. And this was BEFORE Hurricane Ivan hit. Now we also have to watch out for Hurricane Jeanne, which so far has hit Puerto Rico and the Dominican Republic and appears to be heading toward the Bahamas and storm weary Florida. Jeanne dumped up to 16 inches of rain on Puerto Rico that could continue through today (Sept. 17) because the storm's tail extended far past St. Croix, in the U.S. Virgin Islands, according to Rafael Mojica, a hurricane center meteorologist.

About 50,000 people lost power in St. Croix, but half were back by evening.

In the Pacific Ocean, Hurricane Javier, now just a category 1 storm, is moving slowly up toward the western coast of Baja California. Over the last few days Javier's outer rainbands have pounded the states of Colima, Jalisco and Nayarit with wind and heavy rain. More weakening is expected as Javier moves north. Computer models currently have it turning northeast around Guerrero Negro on Sunday, Sept. 19, angling across the Baja to exit south of San Felipe, and after crossing the Sea of Cortez making landfall again somewhere near Rocky Point (Puerto Penasco) on Sept. 20 or 21 as a tropical depression. For more information, go to http://www.wunderground.com/tropical/tracking/ep200413.html

See last week's Street Talk for more information about resorts impacted by Hurricanes Charley and Frances

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


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street@thetimesharebeat.com


MID EAST & AFRICA

LEBANON:
BEIRUT: Rusd Bank, a leading regional investment bank, has initiated what it bills as the region's largest luxury project.

Marina City, with a capital of $190 million, is one of Lebanon's most important real estate development projects. The bank, which was established in Malaysia, will introduce 1,169,230 shares at a share price of $100 each. Subscriptions will close at the end of September or when target shares have been met.

The Marina City project will be built on 81,000 square meters, across the Metn coastline, north of Beirut. It will include a residential complex of 150 units and 170 furnished apartments, as well as a complex of
200 public timeshare units and a 270-room hotel with a banquet hall capacity of 1,000 people.

The 74,000 square meter project will also include a three-level shopping mall overlooking the marina, which will be able to hold up to 700 yachts and is set to bring in 32 percent annually to investors.

The company says the venture is the only one in Lebanon to offer timeshare rooms on a total of 60,000 square meters.

For those of you who only remember Beirut for its ugly civil war some years ago, you should know that the city is largely rebuilt and tourism is growing at the rate of 8 percent per year. Lebanon, the only Middle Eastern country without a desert, has a nice coastline along the Mediterranean Sea, mountains to ski in, and a cultural climate that allows Arab tourists to indulge in things that are forbidden in their own countries. Beirut used to be known as the Las Vegas of the Middle East, and it's aiming to regain that title.

IRAN:
TEHRAN: Malaysia-based Peremba Construction Sdn Bhd is embarking on a high-end, timeshare condominium and five-star hotel development in North Tehran near the Caspian Sea. The project covers a land area of 10,617 sq m. Earthworks, which will take three years to complete, have already started.

Actively pursuing new markets, Peremba Construction will be concentrating on the Middle East and Asean markets – using its diverse capabilities to secure projects in these markets. In the Middle East, it sees potential in Dubai in the United Arab Emirates as well as Qatar and Oman.

Group managing director
Ramli Ahmad said Peremba Construction is also setting its sights on Iraq. “When the situation gets calmer, we expect Iraq to present great opportunities.”

That one might take awhile...

SOUTH AFRICA:
PRETORIA: Following an investigation by trade and industry's consumer affairs division, the business practices of leisure timeshare investment business Holiday Concepts Marketing and Anthony Vernon Strelensky have been declared unlawful. Holiday Concepts Marketing and Strelensky traded as Coral Cove Club, Coral Cove Trust and Holiday Concepts. Strelensky's activities were brought to the attention of the consumer affairs committee by the Timeshare Institute of Southern Africa.

The report added that, from the little information provided to the committee, it was established that the structures set in place according to the constitution of the club operated by Strelensky were " non-operational" .

For example, accoring to an article in Business Report, it said the non-registration of a property-owning trust resulted in point rights being sold to clients in circumstances in which the allocated weeks were still registered in the name of the owners of the weeks or Strelensky.

" This concerned the committee because, as sold shareholder, Strelensky owned these weeks and not the property-owning trust as required by the Property Time Share Control Act," it said.

So what happens next?

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CARIBBEAN


HURRICANE IVAN

We're happy to report that Divi Resorts was fortunate to encounter either no or only minimal damages from Hurricane Ivan. At this time eight of Divi’s nine resorts are fully operational, receiving guests and taking future reservations. Divi Tiara Beach Resort in Cayman Brac is expected to resume operations once the Cayman Government lifts its restrictions for non-resident entry.

Divi Resorts operates nine resorts on six Caribbean islands: Divi Carina Bay Resort & Casino in St. Croix, Divi Little Bay Beach Resort in St. Maarten, Divi Southwinds Beach Resort and Divi Heritage Beach Resort in Barbados, Divi Tiara Beach Resort in Cayman Brac, Divi Flamingo Beach Resort & Casino in Bonaire, and Divi Aruba Phoenix Beach Resort, Divi Village Beach & Golf Resort and Divi Dutch Village Resort in Aruba.

For more information on Divi Resorts contact your travel professional, call 1-800-367-3484 or visit
www.diviresorts.com. For more information on Divi Carina Bay Beach Resort & Casino call 1-877-773-9700 or visit www.divicarina.com.

Some other islands and resorts did not fare as well. Though information is still slowly trickling in, we have listed some websites at the top of this blog you can check on for current information as it is posted.

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

E-mail street@thetimesharebeat.com


Quotable quotes: " Without censorship, things can get terribly confused in the public mind." -General William Westmoreland

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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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