A Survey of HOA Controlled Timeshare Resorts: 2011 Edition

Published and sponsored by the ARDA International Foundation, 2011.
Conducted by a research team consisting of the following investigators:

Principal Investigator 
            Betsy Bender Stringam 
            Associate Professor of Hotels and Resorts 
            School of Hotel, Restaurant and Tourism Management 
            New Mexico State University 
            Las Cruces, New Mexico 88003 
            betsys@nmsu.edu 
            (575) 646-7424

Co-investigator 
            Catherine Curtis 
            Assistant Professor 
            School of Hotel and Restaurant Administration 
            Oklahoma State University 
            Stillwater, OK 74078 
            catherine.curtis@okstate.edu 
            (405) 744-8484 

Co-investigator 
            Randall S. Upchurch 
            Associate Dean - Academics 
            Chaplin School of Hospitality and Tourism Management 
            Florida International University 
            rupchurc@fiu.edu 
            (305) 919-4406

Member: $200; Non-member: $300

Table of Contents

I. INTRODUCTION  

Background of Study

II. RESORT IDENTIFICATION AND MANAGEMENT 

Resort Management
HOAs on Property
Stage of Development for the Resort
Marketing
HOA Control

III. HOME OWNERS ASSOCIATION BOARD OF DIRECTORS  

Board Member Selection
Length of Service
Board Meetings
HOA Board Compensation
Audit of HOA Board Financial Statements
Resort Profile
Timeshare Clubs
Rescue, Relief, or Post Card Type Companies
Travel Clubs
Mix of Units by Number of Bedrooms
Unsold Inventory

IV. RESORT LEGAL STRUCTURE  

Other Types of Intervals

V. FINANCIAL METRICS  

Timeshare Occupancy Mix
Maintenance Fees
Comparing Maintenance Fees from Year to Year
Maintenance Fee Delinquencies
Foreclosures
Cost to Foreclose an Assessment Lien
Developer Support
Revenue Sources for the HOA in 2010

VI. RESERVE FUND 

Special Assessments
Reserve Fund
Reserve Fund Study
Percentage of Maintenance Fees Contributed to the Reserve Fund
Percentage of Reserve Funds on Hand

VII. RENTAL  

VIII. RESALE 

Resale Channels
Average Resale Price

IX. EXCHANGE 

X. SUMMARY OF FINDINGS  

XI. LISTS OF TABLES AND FIGURES  

XII. APPENDIX A  

XIII. APPENDIX B – SURVEY