By: Jan Barrow, Vice-President Business Development, Lemonjuice Solutions
Over the past few months, there has been a notable increase in interest regarding our services, particularly in our Resorts Reimagined™ program. Many managers and boards have come to the realization that it’s time to retire their timeshare property or partially reimagine it to ensure long-term sustainability.
As stewards of the resort’s assets and interests, boards of directors are responsible for making informed decisions that prioritize the well-being and interests of all owners and stakeholders. This fiduciary duty includes seeking guidance and services from a proven company with the expertise and experience to navigate the complexities of terminating timeshare arrangements and repurposing the property.
Would you hire a plumber to perform heart surgery?
For timeshare board members considering or planning a timeshare repurposing project, thorough planning and due diligence are of the utmost importance. I have had concerning discussions with many boards who put their trust in the wrong professionals, or often rely on their own management company, or someone with a “good” reputation but lacking the depth, experience, or expertise to handle the job correctly.
Even if a board maintains a positive relationship with the resort property manager and professionals from various fields, it is essential to ask the right questions and conduct the proper research. Ignorance of certain factors can lead to significant risks such as costly delays and excessive legal fees. Therefore, it is imperative to ensure that the professionals engaged in the project are truly suited for their roles.
Just as you wouldn't want a plumber performing heart surgery, you should not rely on an inexperienced company to handle the repositioning and preparation for the sale of your timeshare property.
The importance of expertise cannot be overstated.
Given the complexities inherent in resort repositioning, it is crucial to engage professionals with proven expertise in this specific segment of the industry. Choosing inexperienced or ill-equipped individuals or companies can worsen existing challenges and hinder the successful execution of repositioning strategies. Most importantly, selecting the wrong partner puts the proceeds from the sale of the property at risk, depriving owners of what is rightfully theirs.
Whether the plan entails full-scale reimagination, partial reconfiguration, or right-sizing, it is vital to match the resort's unique needs with the appropriate expertise. No two resorts are exactly alike. While we are eager to offer our services and expertise to any resort in need, the underlying message remains clear— prioritize the selection of the right professional for the task at hand. Some may claim to have professional expertise but lack the proper motivation and fail to focus on maximizing returns for owners. There have been instances where such individuals or companies struggle to navigate the complexities of title searches, taking deed backs, ultimately leaving owners with minimal compensation or, worse, empty-handed.
One example highlighting the complexities we encounter in our work is the successful repurposing of the Yachtsman Resort in Myrtle Beach, South Carolina. Despite challenges, we closed on the project after obtaining title insurance, and demonstrated our commitment to meticulous planning, effective marketing, and successful sales strategies, resulting in higher returns for the owners.
The Proven Leader
Reimagining a resort involves gathering pertinent information, scrutinizing documentation, engaging with local leaders, mitigating risks, and evaluating all potential outcomes to present the board with viable options so they can make well-informed decisions. To date, we have distributed over $70+ million to timeshare owners and invested $29 million in preparing legacy resorts for sale.
Our proven business model avoids upfront fees and instead earns revenue on the backend through property sales. It is a cornerstone of our business. We invest in resort operations to facilitate the sale process, ensuring owners receive their fair share of proceeds. By aligning our interests with the owners’ interests and investing in resort improvements, Lemonjuice Solutions consistently delivers tangible results to owners while revitalizing legacy resorts.
Early on, Lemonjuice Solutions invested in developing state-of-the-art title search systems, collaborating with A-rated title insurance providers, and perfecting communications for our client resorts to ensure that owners have ample opportunity to have their questions answered. By doing so, our managed resorts, whether being reimagined or not, can navigate historical challenges, address contemporary concerns, and effectively adapt to the evolving landscape of timeshare ownership and hospitality. Lemonjuice Solutions stands out through our owner-centric approach.
Putting owners first is our guiding principle, ensuring they receive fair compensation for their timeshares. By aligning their interests with ours and shouldering the financial risk, we have earned a reputation for delivering tangible results.
Lemonjuice Solutions is the proven leader in the industry. By the end of this year, we are on track to have completed 20 reimaginations under our Resort Reimagined™ program, securing title insurance for all properties from A-rated companies. Title insurance is crucial as it ensures we can secure the highest possible price for your property. Without it, your property will be sold for significantly less than market value.
Preparing a timeshare is vastly different from selling a commercial property or a home. Just as you wouldn’t want your plumber performing heart surgery, it is equally important not to entrust the reimagination of your resort to an ill-suited group, even if they excel at other tasks.
Want to Learn More about Lemonjuice Solutions?
If you want to learn more about Lemonjuice Solutions, please call Jan at 863.602.8804 or email her at jan.barrow@lemonjuice.biz. Lemonjuice Solutions is dedicated to delivering professional management, investment capital, strategic planning, execution, and technology solutions for timeshares, condominiums, and mixed-use properties. Our Resorts Reimagined™ program rejuvenates and repositions timeshare resorts and condominiums to ensure maximum value for owners.