- Jun 6, 2005
- Reaction score
- Marvin, NC (Charlotte suburb)
- Resorts Owned
Maui Ocean Club
Waiohai Beach Club
Barony Beach Club
Destination Club Trust
HGVC at Sea World
Listening to this livestream this morning. In a break right now, so here are a few nuggets from the first two presenters - CEO Steve Weisz and Ovi Vitas, EVP of Brand and Digital.
- 50% of earnings came from vacation ownership sales a few years ago, now sales is only 28% as management and change has become a bigger part of the earnings.
- Moving to points has allowed them to create "perpetual sales centers" that sell the system rather than location-based centers that close after sell out. They are never really sold out and it makes low cost inventory re-acquisition more viable as well.
- Increasing their anticipated savings from ILG merger to $125 million by end of 2021.
- The market is moving away from strict 7 night weekly stays and demand for shorter vacations and more flexible options has ballooned since 2008
- II moving to offer shorter stays through Getaways and offering Getaways to non-timeshare owners as rentals.
- There has been 28% compound growth of online points transactions from 2016 to 2018
- Online transactions now account for 40% of total transactions vs. 29% in 2016. Target is >50% by 2022.
- The Interval International Mobile App is very highly rated and they hope to leverage that team to vastly improve the mobile experience across all of their brands
- Plan to expand Vistana's "Community Planning Tools" across all of the brands.
- Will be adding the ability to book sale tour packages online for prospects