During our work the past years in serving Buyers interested in owning a Caribbean fractional as their way of owning a piece of Paradise, Marriott International has been a major player. They recently announced that they are closing down their development of Caribbean fractionals and residence-club products. Their decision to pull back from this very attractive real estate product is not a surprise. All of Marriott International’s fractional, residence club and time-share business earned only $632 million in the first six months of 2009, compared to $863 million in the same period last year for the same division of the company.
The other two major players in this division of worldwide real estate product, Wyndham Worldwide Corporation and Starwood Hotes & Resorts Worldwide, are now being watched to see if they will scale back their Caribbean fractional projects because of falling sales and the loan products drying up for this type real estate. ( You may recall from earlier articles that almost half of the fractionals purchased in the Caribbean were all-cash purchases.) I do expect announcements soon from Wyndham and Starwood. Read the rest of this entry »
You know that I am a fan of fractional ownership as a way to own your piece of Paradise in the Caribbean. The large majority of property purchased in the Caribbean is accomplished with fractional ownership. Bargains abound from Aruba to the Dominican Republic in the world of fractional condos and villas. For the past two years I have personally witnessed the newest Caribbean resort’s development and construction, and it is now having it’s coming out party this month – Scrub Island Resort, the first resort to open in the BVI in 15 years! This tropical paradise is on 230 acres on an unspoiled paradise. Read the rest of this entry »
Last week was the 14th Annual