Fractional Summit USA: First B2B Conference to Have Owners’ Panel
Timeshare owners and members voiced out their opinions and concerns to developers, architects, land planners and other timeshare professionals during this year’s Fractional Summit USA. The convention which took place in Miami, Florida last September 1 saw, for the first time in any B2B conference, an agenda that included an owners’ panel.
The event was organized by Fractional Life, the world’s leading luxury fractional brand and web portal based on fractional ownership and asset-sharing concept. To address the need for owners’ voices to finally be heard by industry professionals, Fractional Life invited an assembly of end users at the conference to participate in a frank and spirited discussion about what they liked and disliked about the properties they purchased.
Owners-panel members represented a cross section of the industry and answered prepared questions thrown to them by industry professionals. The owners were candid in their responses to every question, yet were still successful in getting their views across. Questions covered:
• Their entry into the world of shared ownership (most learned of the concept through a friend or associate that was an owner/member);
• Their over-all membership experience (full consensus was very satisfied);
• Factors that affected their decision to purchase (surprisingly, price was a factor that was low on the scale);
• The services they liked and enjoyed most (ranged from 24/7 concierge and fitness facility to daily housekeeping);
• Their sentiment towards annual dues (not as bad as some in the audience feared).
Additionally, the owners also participated in a “rapid round” of Q&A and enthusiastic questioning from the audience.
“It was a real benefit to those in the industry to have a panel of those who own at a PRC or DC and to hear their experiences of what made them choose the club they did, what concerns, if any, they had or have and what their experience of ownership has been like,” explains Peter Kempf, President and Chief Operations Officer of Peter Kempf International.
Kempf, who is also a leading authority on international fractional luxury real estate, added “One particularly surprising revelation was the lack of concern about annual dues, which are usually the most heavily questioned issues prior to purchase. I look forward to having this again and even expanded at the next conference.”
Timeshare is a multi-billion dollar industry with thousands of individuals and families owning a fractional, private residence club or destination club. Last year alone the shared ownership/use industry in the US, Canada and the Caribbean had sales exceeding $850 million; the year before, the figure breached $1 billion.
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