During in-depth conversations with timeshare HOA boards across the country, one theme has consistently emerged — the critical importance of understanding the nuanced needs of owners.

As one long-termed board president aptly stated, “Owners reveal their desires both through their words but also, and sometimes even more loudly, by how they use their checkbooks.” This sentiment underscores the need for all boards to address the “silent majority’s” preferences versus those of the “vocal minority”— and to foster an inclusive communication and decision-making process.

Board Members Are Owners

Timeshare board members are also timeshare owners and many own peak-season weeks. It is common for board members to own multiple weeks and pay significant annual maintenance fees. In addition to their financial commitment, they are also deeply involved in their resort’s governance.

As a result, board members may inadvertently overlook the needs of less vocal owners, particularly those during off-peak seasons or challenging periods. This oversight can lead to frustration among those diligently trying to sustain the resort; without fully understanding the underlying reason behind the causes of non-paying owners, boards can make assumptions and jump to inaccurate conclusions. A comprehensive understanding of owner demographics and evolving market dynamics is essential.

Owners in Default

There are several reasons why owners may disregard their obligation to pay maintenance fees or fall victim to the compelling offers of exit companies. It is important to recognize that these owners aren't necessarily negligent; rather, they may feel constrained due to inadequate resale programs or deteriorating personal circumstances. Additionally, technological advancements and shifting travel preferences further complicate the landscape, necessitating innovative approaches to meet owner needs and sustain resort viability.

In order to foster empathy and find mutually beneficial solutions, it is crucial to understand these dynamics.

Deciphering Owner Signals

When a resort's non-performing inventory surpasses sustainable levels, it's imperative for boards to delve deeper into owner sentiment and market trends. Beyond financial viability, factors such as property conditions, demographic shifts, and technological advancements must be considered. Resort management must conduct comprehensive market analyses and engage in ongoing dialogue with owners to accurately gauge preferences and concerns.

Resorts situated in destinations with extended seasonality may explore innovative approaches. Dynamic pricing strategies or partnerships with hospitality platforms can optimize revenue. However, if financial challenges persist, or property amenities become outdated, a more comprehensive reimagination may be warranted. Boards must proactively seek input from all stakeholders. Owners, industry experts, and management teams all have valuable input that can help develop a strategic roadmap for revitalizing the resort and enhancing long-term sustainability.

Navigating Repositioning

Reimagining a resort requires a strategy, vision, and execution. Boards must engage owners in open dialogue with owners to gauge preferences and concerns accurately. Additionally, addressing legal complexities regarding title and insurance is paramount for mitigating risks and ensuring a smooth transition process. Lemonjuice Solutions adopts a proactive approach, investing in upfront repositioning efforts to align with owners' long-term interests and maximize asset value.

Effective communication lies at the heart of successful repositioning endeavors. Lemonjuice Solutions employs a multi-faceted approach, utilizing surveys, FAQs, and virtual meetings to ensure owners are well-informed and empowered. By fostering transparency and accessibility, resorts can cultivate trust and cooperation among stakeholders to strengthen their sense of ownership and community pride.

Planning Takeaways

By prioritizing owner engagement, embracing innovation, and fostering a culture of collaboration, resorts can navigate uncertainty and chart a course toward sustainable prosperity. Lemonjuice Solutions empowers resorts to thrive in an ever-changing marketplace through strategic repositioning efforts.

  1. Prioritize Owner Engagement: Regularly solicit feedback from owners through surveys, virtual meetings, and other communication channels. Ensure transparency and accessibility to foster trust and cooperation among stakeholders.
  2. Embrace Innovation: Stay abreast of evolving market trends and technological advancements. Explore innovative approaches like dynamic pricing strategies and partnerships with hospitality platforms to optimize revenue and enhance the guest experience.
  3. Foster Collaboration: Encourage collaboration among resort boards, management teams, and industry experts. Leverage diverse perspectives to develop strategic roadmaps and enhance long-term sustainability.
  4. Invest in Communication: Utilize a multifaceted approach to communication, including surveys, FAQs, and virtual meetings. Ensure owners are well-informed and empowered to participate in the decision-making processes.
  5. Stay Agile: Anticipate future trends and adapt strategies accordingly. Diversify revenue streams, invest in sustainability initiatives, and explore new markets and partnership opportunities to remain competitive in a rapidly evolving landscape.

About Lemonjuice Solutions

Ultimately, success lies in embracing change and maintaining a relentless focus on delivering value to owners. Resorts can thrive in an increasingly competitive landscape by prioritizing owner satisfaction, investing in strategic initiatives, and fostering a culture of innovation.

Lemonjuice Solutions remains committed to supporting resorts in their journey toward sustainable growth and prosperity. We offer tailored solutions and expertise to navigate the complexities of repositioning and re-imagination. Together, we can unlock resorts' full potential and create memorable experiences for owners and guests alike.

To explore options and solutions, contact Jan Barrow, Senior Vice President of Business Development at Lemonjuice Solutions, at 863-602-8804 or jan.barrow@lemonjuice.biz. Visit lemonjuicesolutions.com to learn more.