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