stevegriswold
10-25-2008, 02:17 PM
Oct 25th 2008:
Prices on timesshares in Orlando and Hawaii are dropping.
Do you think Disney's DVC resales will drop even more in 2009?
Starwood Hotels & Resorts (http://ad.doubleclick.net/imp;v7;j;206318875;0-0;0;17653763;0/0;25416508/25434365/1;;~aopt=2/1/af/0;~okv=;pos=t1;vs=computers;sz=728x90;tile=1;kw=pa cific;dcopt=ist;~cs=u%3fhttp://m1.2mdn.net/1758813/ups2_new.html?t=10&cT=http%3A//ad.doubleclick.net/click%253Bh%3Dv8/3764/2/0/%252a/y%253B206318875%253B0-0%253B0%253B17653763%253B255-0/0%253B25416508/25434365/1%253B%253B%257Eaopt%253D2/1/af/0%253B%257Esscs%253D%253f&l=http%3A//pacific.bizjournals.com/pacific/gen/Starwood_Hotels%2520%26%2520Resorts_CA1569EC84B844 B396D4C7BC3264BC2F.html) revenue fell 5 percent in the third quarter and the company blamed slowing timeshare sales in Hawaii and Florida.
Revenue for vacation ownership was down 27.4 percent to $183 million, compared to 2007. The company said contract sales of vacation ownership intervals decreased nearly 30 percent mostly due to the sellout of the company’s Westin Kaanapali Ocean Resort North on Maui and an overall decline in demand.
The company said it did not sell any vacation ownership receivables during the quarter, from which it had previously anticipated a gain of $10 million to $15 million.
Starwood said it expects operating income from its timeshare business to drop as much as $115 million this year as demand in Hawaii and Orlando, Fla. slows.
Article URL:
http://pacific.bizjournals.com/pacific/stories/2008/10/20/daily59.html?ana=yfcpc
Prices on timesshares in Orlando and Hawaii are dropping.
Do you think Disney's DVC resales will drop even more in 2009?
Starwood Hotels & Resorts (http://ad.doubleclick.net/imp;v7;j;206318875;0-0;0;17653763;0/0;25416508/25434365/1;;~aopt=2/1/af/0;~okv=;pos=t1;vs=computers;sz=728x90;tile=1;kw=pa cific;dcopt=ist;~cs=u%3fhttp://m1.2mdn.net/1758813/ups2_new.html?t=10&cT=http%3A//ad.doubleclick.net/click%253Bh%3Dv8/3764/2/0/%252a/y%253B206318875%253B0-0%253B0%253B17653763%253B255-0/0%253B25416508/25434365/1%253B%253B%257Eaopt%253D2/1/af/0%253B%257Esscs%253D%253f&l=http%3A//pacific.bizjournals.com/pacific/gen/Starwood_Hotels%2520%26%2520Resorts_CA1569EC84B844 B396D4C7BC3264BC2F.html) revenue fell 5 percent in the third quarter and the company blamed slowing timeshare sales in Hawaii and Florida.
Revenue for vacation ownership was down 27.4 percent to $183 million, compared to 2007. The company said contract sales of vacation ownership intervals decreased nearly 30 percent mostly due to the sellout of the company’s Westin Kaanapali Ocean Resort North on Maui and an overall decline in demand.
The company said it did not sell any vacation ownership receivables during the quarter, from which it had previously anticipated a gain of $10 million to $15 million.
Starwood said it expects operating income from its timeshare business to drop as much as $115 million this year as demand in Hawaii and Orlando, Fla. slows.
Article URL:
http://pacific.bizjournals.com/pacific/stories/2008/10/20/daily59.html?ana=yfcpc