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CHAPTER ONE - RESORTS MANAGEMENT: AN INTRODUCTION
- 1. RESORTS: AN INTRODUCTION Copyright ©2012 John Wiley & Sons, Inc. Photograph Courtesy of SuperStock
- 2. Learning Objectives Identifythe major factors influencing the development of the resort industry. Identify the various ways resorts can be classified. Place different types of resort offerings on a time-equity continuum. Copyright © 2012 John Wiley & Sons, Inc.
- 3. 21st Century Lodging, Recreationand Entertainment concepts are merging. Long weekends are replacing long vacations. Increased popularity of multi-generational family gatherings. More multi-use resort destinations. Resort waterparks are growing and getting bigger. Copyright © 2012 John Wiley & Sons, Inc.
- 4. 21st Century Adventure sportsare going mainstream. Movement from natural to man-made facilities. Every outdoor sport will have an indoor version. New structures and enclosures cover large spaces affordably. Copyright © 2012 John Wiley & Sons, Inc.
- 5. Lessons The historyof transportation has, to a large extent, determined where, when, and what types of resorts have evolved. The desire for pleasure travel is deep-rooted. Resorts began as seasonal operations. To minimize the risk of relying on one season of the year, resorts developed year-round attractions and appealed to the group market. Resorts develop through life cycles. To be successful, resorts have had to adapt to changes in transportation, consumer tastes, demographics, and competition. Copyright © 2012 John Wiley & Sons, Inc.
- 6. Types of Resorts Proximity to Primary Market Setting and Primary Amenities Residential and Lodging Properties traditional lodging timeshare or vacation ownership condominium hotels destination clubs Copyright © 2012 John Wiley & Sons, Inc.
- 7. Timeshare Locations Growth Attractive to hotel companies Europe Important features Purchase motivation Copyright © 2012 John Wiley & Sons, Inc.
- 8. Timeshare Options Fixedweek option Floating week option Points-based memberships Club concept Copyright © 2012 John Wiley & Sons, Inc.
- 9. Condominium Hotels Guestsbuy fee-simple equity in the unit Ownership structure Mixed-use project with a hotel and a primary residence piece Mixed-use in a resort area with a hotel where the condo can be used as a second home Copyright © 2012 John Wiley & Sons, Inc.
- 10. Other Destination Clubs Mixed-Use Developments high cost of amenities. Second-Home Developments primarily of second homes and does not include a resort hotel. Resort condominiums. Small, low-density residential communities Single-family developments Large planned communities Multiuse Resort Communities Combines two or more of the above categories of facilities Fractional ownership Copyright © 2012 John Wiley & Sons, Inc.
- 11. Time-Equity Continuum PURE TIME No equity – no responsibility Vacation rental Time share Destination club ______________________________________________________ Fractional and Private Residence Club Elite Fractional Pure Ownership PURE EQUITY 100 percent real estate ownership – 100 percent responsibility Copyright © 2012 John Wiley & Sons, Inc.