TBMA is looking ahead to 2015
Thanks to all who attended TBMA San Diego. The spirit of "community" among those who participated was evident and the energy generated by TBMA continues in a positive direction. We recognize that running a timeshare resort is no different from running a business with the added dimension of the fiduciary responsibilities placed on your HOA's Board of Directors. It's a serious endeavor because the Board is charged with duties to oversee the effective management of the monies that are paid by the owners. The financial health of a timeshare depends on having sufficient funds for day-to-day operations and sufficient reserves to keep the resort on solid economic ground for the future. A simple fact of life is that all businesses are either growing, stagnating or declining. In timesharing, the state-of-the-enterprise can be measured in terms of trends relative to the owner base and the revenues generated.
TBMA's educational panels explored the key issues impacting on the state-of-the-resort. At the conclusion of TBMA San Diego, the majority of attendees said that they will be returning home armed with various action items to be discussed at future meetings of the Board of Directors. So, as we look ahead to 2015, we would like to hear from every Board Member and Resort Manager. Send us a summary describing the action items that you plan to address that resulted from your attending TBMA San Diego. Please check your notes and email: HOA@tstoday.com. Subject: Action Items.
For those who could not attend the San Diego meeting, we would still like to hear from you about your priorities for 2015. Email: HOA@tstoday.com. Subject: Priorities 2015.
The Elephant in the Room
Be sure to read the November/December, 2014 issue of TimeSharing Today magazine. Elephant(s) in the Room refers to the weighty topics about which HOA Board Members, Managers, Industry Professionals and Owners should start paying attention in 2015. A key issue will be how resorts deal with "sundown" or "self-destruct" provisions that may, or may not, be clearly defined in your governing documents. Dr. Jeffrey Weinland worked with several colleagues to write this timely and very important article. He is now planning to conduct an in-depth academic study of resort governing documents to help the industry better prepare for these important changes. Whatever your governing documents say about timeshare plan terminations, Dr. Weinland has requested copies of those governing documents. For details about the study and how you can participate, please email Dr. Weinland at Jeffrey.Weinland@ucf.edu or call 321-231-5692.
Dr. Weinland is an active member of TBMA and is a faculty member at the University of Central Florida's Rosen College of Hospitality Management.
Please note: TBMA Providence has been scheduled for May 17-19, 2015.
Timeshare Board Members Association
TBMA was established as a non-profit association. Its purpose is to provide educational resources to its Members: HOA Board Members and onsite Resort Managers. TBMA meetings are key to fulfilling the Association's Mission to its members. Every Board Manager and Resort Manager should join TBMA and actively participate in meetings. Since our inception in 2011, meeting attendees have significantly benefitted from peer-to-peer networking, educational panels and case studies that demonstrate how resorts are implementing positive change.
No resort should operate in a vacuum. The challenges facing owner-controlled resorts in today's economic environment and business climate are significant. Mananging delinquency rates, fraudulent transfers, inventory of unsold intervals are among the vital issues pertaining to governance by HOA Boards and managers. Recognizing the issues and creating a plan for dealing with them are urgent. While many resorts are now working through their plans, some may be facing the fact their timeshare is no longer viable and may have to unwind its plan in the not too distant future. You should plan on joining TBMA and attending our next meeting. Questions: Email: Shep Altshuler, Executive Director at HOA@tstoday.com or call 201-924-7435.
- Provide a forum for the exchange of views and to provide mutual support to all association members to assist them in the exercise of their duties.
- Provide technical, organizational and moral support to Directors of owner controlled timeshare boards of directors in order for them to exercise their duties wisely and effectively as representatives of their resort's owners.
- Provide informational resources for guidance in carrying out the responsibilities of the HOA.
- Provide sources for professional assistance in implementing plans as may be needed.
- To form a strong united voice on issues that pertains to timesharing