Great eXpectations for Worldwide Timeshare Hypermarket
Worldwide Timeshare Hypermarket (WWTH) has launched a timeshare product designed to solve two major problems: exit strategies for members who wish to discontinue their ownership and the development of a modern, flexible holiday product designed for a new generation of owners.
WWTH, Europe’s leading re-sale organisation, has today introduced eXpectations.
The product’s premise is simple: eXpectations is a private label club that provides holiday accommodation in the club and to over 4,000 timeshare resorts around the world through the clubs association with RCI.
This accommodation is either exclusive inventory held and owned by the club or is made available through the exchange network.
Timeshare owners can apply to exchange their week/s of ownership for eXpectations points. If successful (see criteria below) the club takes over the ownership and liability for the management fees.
In return, owners receive a number of eXpectations points, which can be used to book holiday accommodation and products.
After three years the owners can give the club six months’ notice with no further commitment or penalties.
The idea behind the club is for membership is not limited to current timeshare owners. Potential holidaymakers can purchase eXpectations points in whatever quantity they need to book their annual trips based on their holiday needs.
Each member receives a fixed yearly allocation of eXpectations points, which are valid for a two-year period. The points are like a flexible holiday currency and can be spent on resort accommodation or other holiday options such as city breaks, car hire, cruises or tickets to tourist attractions at a selection of leading theme parks and attractions around the world.
Flexibility and choice are key to the success of the club. Points can be borrowed from the following year's allocation or saved for up to two years to spend on that holiday of a lifetime.
Members can also rent additional points, transfer points to other members and even extend their usage period. Other key benefits include:
• Access to “RCI Platinum” benefits as standard;
• A free exchange as part your membership; and
• TATOC individual membership
RCI Platinum benefits are the highest level of benefits generally available through RCI. Members will enjoy a range of exclusive benefits including priority access to holidays in sought after destinations, complimentary unit upgrades and savings on RCI transactions.
Phil Watson, WWTH’s Chief Executive, explains: “Not only is eXpectations a super product for the next generation of owners looking for high quality accommodation, it also resolves the need for an ”exit” route for the very first generation of timeshare owners.
“We wanted to develop a simple private club which timeshare owners can join without any detrimental impact on their own resort. It allows them the opportunity to enjoy timeshare holidays for as long as they want.”
"As a company WWTH has always supported TATOC, the consumer association representing timeshare owners. So we have included free individual membership to TATOC as well. This is an industry first. No other company has offered TATOC membership to their owners in this way before."
The new eXpectations club offers a fresh approach to the timeshare points product which has now been available for some 30 years.
Phil Watson explains: “The Club’s relationship with RCI provides us with an allocation of points based on the value of each timeshare week we own. This allows us to offer eXpectations points packages not only at a great price but also with a low management fee.”
The WWTH team purchases timeshare weeks based on strict criteria and in doing so have developed a balanced portfolio of ownership. Timeshare weeks must:
• Be from well-managed and maintained resorts;
• Have reasonably priced management fees; and
• Have a high RCI points value
“Expectations will assume and pay the annual management as it is the clubs key priority and objective is to have these weeks available for our members.
It’s a win-win situation especially for mature resorts which may be struggling with management fee collection from their elderly members,” he added.
TATOC’s executive chairman Harry Taylor said: “eXpectations is a great product tackling two of the biggest issues facing the industry today. We are also delighted WWTH is supporting TATOC by including individual membership to the association. This is great for owners and for TATOC and we are delighted.”
Timeshare has come long way since it was first conceived in the 1960’s. It is now considered to be a robust and highly regulated industry that sends millions of people on holiday every year.
In the early days timeshare was sold as a long-term holiday product that would give the buyer and his family holidays of a lifetime for a lifetime.
This first generation of owners have enjoyed many years of quality holidays. They are exceptionally enthusiastic about their timeshare and regard it as a “home from home”, offering a wealth of facilities such as swimming pools, saunas, tennis courts and golf courses.
Timeshare offers owners accommodation that is typically far more spacious than that found in standard hotels. Each apartment typically includes a kitchen, dining and living areas and one or two bedrooms and bathrooms
In the past few years times have changed and the first generation of owners are now either nearing retirement or have retired. Originally, they planned to pass their ownership on to their children but today’s younger generation are looking for a different holiday experience and are less keen on a long-term commitment.
This leaves the original owner questioning what should be done with their timeshare.
The new eXpectations product launched answers these issues. Not only does it allow timeshare owners to join the club with the option of leaving after a three-year period, it provides the short-term, flexible and quality holiday product required by today’s new generation of owners.
To find out more about eXpectations points, visit the website: www.expectationsholidays.co.uk
Or contact Phil Watson at:
Telephone number 0871 781 6781