ARDA Inside Look - Issue 11
Issue 11 | December 30, 2020
The Timeshare Industry Today
President/CEO Jason Gamel
With 2020 almost in the rearview mirror and a new COVID relief package signed into law, there are plenty of reasons for continued optimism for the travel industry in 2021. Despite all of the personal and economic fall out of the past year, ARDA member companies have learned from the past year, innovating and adapting product offerings to meet their current and future customer base needs. This focus, and dedication to workplace and resort safety, has set the stage for the timeshare vacation-nation to return and enjoy travel with their loved ones and families. As we look towards 2021, I want to assure you that ARDA will continue to support the industry's growth through advocacy, education, and membership platforms. This includes an emphasis on engaging with the new administration and state and federal legislatures to ensure that they understand the timeshare industry's overall value. Educating financial institutions and providing up to the minute research and analysis will be vital to show our industry's resilience and strength. Finally, as it has done for over 50 years, ARDA will continue to provide the largest and most influential industry platform through in-person and virtual meetings as well as enhanced VIP events. We look forward to a safe and prosperous new year and a time when we can join together, in person, once again.
Federal and State Legislation
ARDA-ROC filed amicus briefs in support of timeshare owners in two appeals to the Administrative Appeals Commission. Both of the timeshare properties were being unfairly assessed by the Sevier county property tax assessor as commercial properties, rather than residential, which resulted in substantially higher tax bills.
We argued that the classification of timeshare interests as commercial and industrial property is a departure from, and contrary to, well-established and longstanding TN property tax guidance. It is also in conflict with clear policy decisions of the Tennessee General Assembly related to the treatment of Tennessee timeshare properties for tax purposes as reflected in the statute.
At the hearing, the commissioners ruled 3-2 in favor of timeshare being classified as residential, not commercial. This is a big victory for TN timeshare owners and associations throughout the state that were experiencing significant increases to their tax burdens.
The assessors will have the right to appeal and may, with final orders being out within 90 days. ARDA-ROC will continue to do all that it can on this issue to support and fight on behalf of timeshare owners in the state.
We are pleased to announce the ARDA-WIN Virtual Meeting, February 17th, 2021, 1:30 pm-4:00 pm. The meeting will feature an exciting line up of keynote speakers, a panel presentation and interactive programming. To see a list of our generous sponsors and find details about upcoming information, please visit ARDA-WIN Virtual Meeting | ARDA
ARDA International Foundation (AIF)
On December 8th, the second in our ARDA LIVE series featured a webinar by the researchers of the AIF sponsored Back to Normal Travel Barometer. We learned that 67% of timeshare owners are ready to take their next timeshare vacation. The data shows that timeshare is one of the most resilient products in the travel industry. To hear more about where timeshare fits into the overall travel forecast, and what we think it take to bring consumers back, click here for the webinar replay Back to Normal Barometer | ARDA