The Top 20 on 2010

As the fractional ownership property market enters an exciting stage of its development, Fractional Trade profiles 20 of the industry’s big hitters and asks them how they think the fractional sector will fare in 2010.

Claude Attala, Northcourse

As global managing director of property consultants Northcourse, Claude Attala has an in-depth understanding of the shared ownership market as well as the intricacies of Middle Eastern real estate development and tourism.  His company provides advisory, research and sales and marketing services to developers and investors worldwide, working with both experienced developers and new entrants in resorts, hotels, timeshares, fractionals, condo hotels, private residence clubs and destination clubs. Prior to NorthCourse, Attala served as head of planning and operations at the Qatar Tourism Authority, and has also held senior level sales and marketing roles with Rezidor SAS, Intercontinental Hotels, Meridien Hotels and Resorts and Sheraton.

Attala points to research by the UNWTO which predicts that consumers in 2010 and beyond are increasingly likely to favour domestic and short haul travel over long distance flights. This, he maintains will see most European fractional buyers looking at locations within a four-hour flight time of their permanent home. He also says that the most successful fractional schemes will be the ones in locations beyonf the reach of traditional homebuilders, which make the most of their surroundings in terms of natural beauty, sports and leisure facilities, and urban centres.

Gregg Anderson, the Registry Collection

As managing director of exchange network The Registry Collection, Gregg Anderson provides strategic direction to a team of product managers in eight regional offices, evaluating partner and affiliate opportunities. He also sees himself as an ambassador for the luxury shared vacation ownership sector and is a frequent speaker at industry conferences.

Anderson, who has held positions at Intrawest, ClubCorp The Walt Disney Company says: “I agree with the financial and development experts I’ve spoken with that we will see a gradual recovery in the second half of 2010. Both lenders and buyers will scrutinize opportunities more closely in regards to location of the project, track record of the developer and project team involved with the development. Developers who have ‘A’ locations, who have a track record of development success and are aligned with an experienced team of partners will see a great advantage as we come out of this financial downturn. More potential buyers than ever will evaluate deals based on usage versus investment which will put more emphasis on developers delivering a comprehensive amenity package and choosing the right operator who can deliver the exemplary service this affluent traveling demographic demands.”

Philip Bacon, HVS

Madrid-based Philip Bacon has more than 25 years’ experience in business advisory services, including a 10-year spell with Price Waterhouse in London and Barcelona, and positions as financial director for two Spanish resort development companies. Now at HVS, he launched the company’s Shared Ownership Services for EMEA & Asia division, which specialises in all forms of shared ownership, from fractional interests to branded residences, particularly within hospitality-based mixed resort developments.

Bacon says: “The fractional property business will continue to offer opportunities to both developers and operators who are looking to take advantage of an increasing awareness on the part of the customer of the need to achieve true value for money for high ticket items. We will probably see increased concern over the benefits of speculative real estate investment. So-called ‘time poverty’ will continue to be part of daily life but the buying public will also be more demanding in terms of credibility and the matching of promises made during the sales process with eventual product and service delivery.”

Robin Barrasford, Barrasford and Bird Worlwide

Robin Barrasford is managing director of agent and developer Barrasford and Bird Worldwide. He was one of the first UK agents to realise the potential of Bulgarian property market and formed his company to bring this emerging market to the UK and educate potential UK purchasers about the opportunities in emerging overseas markets. He is a founder member and board director of the Association of International Property Professionals. Barrasford is a keen proponent of the fractional ownership model, and is currently selling fractions in Greece and the UK, with a French scheme in the pipeline.

“Fractional ownership is a great model but what worries me is that there are a lot of people coming in to the fractional market who are telling developers to add a 50 to 100 per cent premium to their prices. Fractional property has to offer value or they are going to give all of us a bad name, and it will be like the dark days of timeshare all over again. One area I can see really taking off is the up-selling of fractions to existing timeshare owners – that’s a very good idea,” he says.

Christian Jensen Broby, Marriott Vacation Club International

Christian Broby is chief customer officer and vice president for Marriott Vacation Club International’s activities, covering Europe and Middle East. He has principal responsibility for ensuring the positioning and strategic direction of the business lines across all disciplines and leads development efforts, including project management and analysis for new developments, in these regions.

Broby says: “The perspective for the fractional and residential club sector will mirror 2009 levels…and it isn’t pretty! The buyers’ market remains sluggish, in lieu of prolonged discretionary spending concerns. The ultra-wealthy segment will continue to have the ability to invest in lifestyle-enhancing additions, with even greater purchasing power and advantages, as exaggerated discounts and incentives are extended to maintain some minimal level of sales pace.

While the ‘upper aspirationals’ are forced to become more selective with discretionary lifestyle spending patterns, developers will be under increased pressure to fund development and commercial activities, as a result of downward pricing pressure extending into 2012. Prolonged steep discounting and erosion in margins will affect the eventual economic viability of projects, resulting in an overall inventory supply side contraction over the longer term. Brand perception and credibility in the market place will become more important than ever, as the developer’s financial solidity will be on the forefront of any buyer’s check list.”

David Burden, Timbers Resorts

David Burden is CEO of Timbers Resorts, a company synonymous with high-end fractional resorts such as Castello di Casole in Tuscany and One Steamboat Place in Colorado. Burden describes Timbers, launched in 1999, as “ground-up developers of some very special resort projects throughout the world – including the design, local approval, construction, sales and marketing, as well as in some cases, the operator of  these wonderful properties. We also offer our services in all of those areas of expertise to certain groups and investors for resort projects where we can make a difference and achieve success for the owners.”

Burden predicts: “The residence club and fractional properties trends and opportunities in 2010 will likely follow the settling and shake-up of various markets in 2009 with some well positioned properties starting to experience momentum as the markets in which they reside start to recover. The market is very interested in traditional destinations and may gravitate toward residence club offerings as making more sense than whole ownership. As always though it will first depend on location, finished product and its operation as well as reputation versus just a great deal.”

David Clifton, Interval International and Preferred Residences

With more than 30 years’ experience of the shared ownership industry, Clifton has held positions at Hilton Grand Vacations and Welk Park North. Now based in Dubai, he is managing director for Europe, Middle East, Africa and Asia for Interval International,responsible for implementing all business development activities in these regions. These include affiliating resorts with Interval’s and Preferred Residence’s global networks, developing and directing all sales and resort marketing strategies, as well as managing developer/client relationships.
Clifton says: “More consumers, developers, and governments today understand the fundamental concept of fractional ownership, its key benefits to all stakeholders, and the strong value proposition that the industry provides to consumers. Additional developers today are embracing the concept due to the current economic slow down hindering their ability to sell whole units. This has coincided with enhanced consumer awareness of the benefits of fractional ownership – the appeal of second home ownership has diminished greatly over the past several years as real estate costs continue to escalate in prime vacation markets.”

Jerry Cobb, Fractional Ownership Consultancy

After a successful career in the finance industry, Jerry Cobb came into contact with fractional ownership through working with resort in the Western Algarve. He is now CEO of the Fractional Ownership Consultancy, offering specialist advice to developers and consumers.

“I still think the market for fractional is huge,” says Cobb. “Despite the economic downturn, or indeed perhaps as a result of it, ultimately fewer people will want to buy a property abroad outright and would prefer to know that their costs are shared.  This year, we will see most of the activity in the lower end, with evidence that people are happier to commit £20 to 25,000 on a fractional purchase rather than any more. There is currently some reticence in dealing with Euros and evidence from our figures shows people are also tending to prefer to buy in their own currency.”

“Fractional in the UK is now taking off.  People know what they are dealing with.  This market will grow impressively over the next few years and I predict that by 2011 we will see a return of the aspirational lifestyle second house purchaser, and from then onwards, fractional is going to boom.”

Steve Dering, DCP International

Steve Dering is the founding partner of DCP International, which pioneered the world’s first residence club – the Deer Valley Club in Utah, which opened in 1992. At DCP, he evaluates potential residence club projects and works with developers to structure, market and sell resort and urban clubs in international destinations.

“More buyers will come into the vacation home market as consumer confidence slowly returns and pricing is adjusted. Fractional ownership will lead the rebound.  A vacation home is, once again, a lifestyle purchase rather than an investment, and the inherent logic of fractionals will be magnified by post-recession practicality.  Sales at fractional projects already in the market will increase but buyers will be ‘deal-driven’ and compelling sales incentives and/or discounting will be required. We saw encouraging increases in sales activity at several of our projects during the last quarter of 2009. Most ‘new’ fractional developments will be conversions of whole ownership condominium projects. However, as was the case prior to the meltdown, the fractional concept will not be strong enough to overcome bad real estate or unrealistic pricing,” says Dering.

David Disick, David M Disick Associates

A former Wall Street attorney, a pioneer of the PRC industry, and a regular author and commentator on the fractional ownership industry, David Disick is CEO of David M Disick Associates, a strategic consultancy involved with fractional real estate. He was responsible for the launch of one of the first ever PRCs, the award-winning Franz Klammer Lodge in Telluride, Colorado, in 1994.

He is currently involved in creating Club Elysée, a multi–site fractionally owned Private Residence Club. The club is looking to sell 144 memberships – nine per property across its sites, which will include locations in the US, the Caribbean and Europe.
In the forthcoming year, Disick predicts the main issues for the fractional industry will be “the enhanced opportunities presented by fractional property; including how to successfully raise financing, and how to market and sell in the current economic and psychological climate. There will also be an increased focus on the top tier of the market.”

Peter Kempf, Peter Kempf International

Peter Kempf is one of the  most experienced individuals in the luxury international real estate market. Before founding PKI he served as vice president and Midwest regional director for Sotheby’s International Real Estate, director of international real estate for Christie’s Great Estates and CEO-Europe for DCP International.

Looking forward he says: “Overall, I am optimistic. Sales in Q3 and Q4 of 2009 improved for high-end projects and I think this will continue on a modest level through Q1 and Q2 of 2010. I think Q3 and Q4 will show even more improvement. Typical institutional lending for developers will continue to be non-existent causing further delay in the launch of new product. However, developers with access to private capital should consider beginning project planning now because by the time they have all their approvals the market will have returned. The demand will improve in Europe because as the concept becomes better known, the acceptance of it improves. Also, the economic collapse caused a change in the way people look at their resources and will now consider fractional, something they never would have done before the crash.”

Bryan Lunt, Absolute World

Bryan Lunt is CEO and chairman of the Absolute Group, which has seven subsidiaries – including Absolute Fractional – and more than 850 employees. His company is pioneering fractional ownership in Asia, and has partnered with brands such as David Lloyd Resorts and yoo.

“It has become apparent to us that in Asia there is huge demand for a product in the middle – not a  vacation club membership and not full ownership – our clients were starting to look for half shares or quartershares. The length of fractions has been decreasing and we found that four week shares are now proving popular,” says Lunt.
“Exchange programmes are important to fractional sales – we have six resorts with The Registry Collection and a new one coming soon – we see a great business unleashing naturally due to market demands. We have some extremely wealthy clients who often own several overseas properties, but still find fractional ownership one of their preferred investments and also preferred vacations. I believe there is a massive future throughout Thailand and Asia in general for the sales and marketing of fractional ownership products.”

Lisa Migani, FNTC

Lisa Migani is director of business development in Europe, Middle East and Asia with fractional ownership consultants First National Trustee Company. She has worked for the firm for a decade in Italy where she is based. Before joining FNTC she worked for vacation exchange programme Interval International, heading up their Italian operation for seven years.
Migani sees fractional buyers coming from new source markets in the next few years, particularly Russia: “If you had the right product in the right location for the Russian middle income market – which is usually something very different from what the Brits would buy – you could really do very well.” She also thinks significant numbers of British buyers are looking at affordable fractions at a price level where financing is easily available. “They’re looking at year-round sunny destinations like the Mediterranean. If you look at Turkey, where you have also got brilliant golf, the cost of real estate isn’t high. Cyprus is another good option for what I call low- to mid-market fractionals.”

Byrne Murphy, Palazzo Tornabuoni

Byrne Murphy has a track record of bringing American business models to sometimes hostile European markets and making them work. A private equity investor and developer of real estate, he is co-owner and co-developer of the Palazzo Tornabuoni residence club in Florence, Italy. He also has a data centre operation in Scandinavia; an engineering company in the UK, and other interests in the US.

“The iconic high end projects will be selling again albeit it at a slower pace than before the downturn, with on-again off-again momentum. It will not be just ‘luxury’ which attracts the buyers (there’s plenty of that everywhere) but those projects which provide ‘experience’. The more unique the experience the more attractive it will be to a specific niche of buyers. Finding those buyers though will require more customized and more expensive marketing. There will be more collaborative marketing efforts as well, whether through more innovative exchange programs or marketing campaigns amongst projects/developers that have not collaborated together in the past,” predicts Murphy.

Howard Nusbaum, American Resort Developers Association

Howard Nusbaum spent ten years with American Hotel & Lodging Association and was VP of sales and marketing for Janus Hotels and Resorts before becoming president and CEO of ARDA. In his current position he ensures ARDA is a vocal advocate for all forms of shared ownership.

He says the market is in for “ a thorny short term, but the long term picture is still quite bright with strong demographics for the foreseeable future. The fractional marketplace will re-emerge with stronger fundamentals from lessons learned from the credit crunch, pent-up consumer demand and a savvy purchaser more conscious of wanting to pay for only the slice the of vacation real estate they have the budget and appetite to enjoy. As an industry we need to take advantage of this lull in the market place to come together and create a strategic recovery plan that will support the concept of shared-use as the alternative to second home ownership. Today’s rational rich want the experiences that come with owning a vacation home but without the headaches and overhead. Fractional ownership is well positioned once this recovery is underway to capture more market share.”

Richard Ragatz, Ragatz Associates

A name inextricably linked with fractional ownership, Richard Ragatz is the founder of Ragatz Associates, a consulting and market research firm in the global resort real estate industry.  The company has worked on more than 2,500 assignments in 72 countries since its formation in 1974. It specialises in feasibility analyses, business planning and consumer research for shared-ownership products, including fractional interests and resort timeshare.

Ragatz says: “Due to ever-changing global economic conditions, it’s difficult to predict performance of the fractional interest industry for 2010. Most likely, sales volumes will increase perhaps 25 per cent or more over the down year of 2009. Most of the increase will come from sales of existing inventory rather than from new start-up resorts. All of our consumer research still finds definite consumer interest in the concept, especially in comparison with whole-ownership and resort timeshare. Financing will remain the biggest challenge, including consumer, debt and equity. We will most likely see more sophisticated approaches to marketing, more innovative products and more rational pricing. Performance will not approach the record year of 2007, but we should be on an upward growth pattern again.”

Sarah Rezak Glasgow, Rezak Resort Consulting

As president of Rezak Resort Consulting, Sarah Rezak Glasgow works with various clients regarding their proposed fractional interest luxury real estate offerings. This can include consumer market research, feasibility analyses, creation of use plans, and/or facilitation of a client’s entry into the fractional business. She also works with various partners to launch marketing and sales efforts and successfully monitor them from the outset.

A former senior consultant with Ragatz Associates, she says: “I expect that the credit markets will eliminate or at least significantly postpone most new fractional real estate construction plans in North America in the short term. I also think that the fractional real estate model needs to be slightly adjusted. Developer financing is a new necessity and should be considered when analyzing financial feasibility of a conversion or existing fractional product. I strongly believe the ability and willingness over the next three years to hold consumer paper for at least five years will separate the wheat from the chaff. I still feel strongly that the concept of fractional real estate will be successful in the long-run.”

Nick Turner, The Registry Collection

Nick Turner is vice president of business development at The Registry Collection. Has has more than 20 years’ experience in the international, hospitality, leisure and travel sectors. In his current role he is responsible for growing the Registry Collection brand and overseeing new affiliates in Europe, the Middle East and Asia.

Turner says: “In 2010 we will see a lot of activity, lots of launches of new developments to the market. The primary consumer will be that middle-income consumer who has been squeezed over the last few months but is possibly slightly better off due to low interest rates, but still wants a place in the sun.”

There will be new product types coming to the market, including lots of conversions where whole ownership resorts will start selling fractions. We are also seeing a growing number if developers who are incorporating fractions in mixed-use developments from the planning stage. These projects are in locations as diverse as Montenegro and North Wales. Sales pace will come down to the age-old challenge of delivering a really good quality product in a triple-A location, providing a broad range of amenities on site which consumers can pay for on an a la carte basis.”

Preben Vestdam, Valhalla Associates

Preben Vestdam is the president of Valhalla Associates, an advisory and management company servicing developers of luxury mixed-use hotel and resort properties in the areas of development strategy, project feasibility and implementation planning of leisure real estate products. Valhalla also implements and manages the sales & marketing operation of fractional ownership products and Private Residence Clubs.

“2010 will be a very active year for the fractional ownership industry. We are currently experiencing a growing number of luxury leisure real estate developers interested in exploring the fractional ownership model as a complement to their whole ownership offering. And with a further recovery of the financial markets giving access to reasonable project finance, we can expect new project developments returning in key markets. In the resort projects where we are involved in the sales and marketing of fractional ownership products, we have experienced that the fractional buyer is returning faster than the whole ownership buyer. So as the consumer confidence recovers, fractional ownership is a strong product to lead with.”

Veranne Wilkinson, Hutchinson Group

Veranne Wilkinson is managing director for the Hutchinson Group in Europe, which includes Citadel Trustees Ltd. One of her principal objectives is to develop the Citadel brand, with a particular focus on innovative investment projects such as fractional products and Unregulated Collective Investment Schemes, which Wilkinson says represent exciting and increasingly lucrative business opportunities.

Wilkinson says: “Despite the economic downturn, we have heard many success stories in 2009 and I believe that we will experience a steady and positive growth in 2010.  Our developer clients are expanding their activities into new and more innovative products, with a fast-growing interest in fractionals and similar projects involving an element of investment, pooled-income or shared profits, and the number of new enquiries is still on the increase. Yes, the year ahead is going to be challenging but there is certainly very strong interest in the fractional property market across Europe and much enthusiasm within the industry.  The major element yet to be added is consumer finance for the higher value fractions – once this has been addressed, there will be more success to come.”

Europe’s Fractional Ownership Property Conference Achieves Ticket Sell Out

Additional Tickets Just Released To Cater For Demand
Fractional Life today announced it had achieved complete sell out for this week’s fractional ownership property conference, ‘Fractional Summit 2010’.

To avoid disappointment and cater for last minute demand the company has just released a small amount of tickets available online at www.fractionalsummit.com and introduced a ‘pay on the door’ option on the day should there still be some availability.

Anybody wishing to secure the remaining ticket(s) is advised to book online before midday today and if this facility is no longer available, email the company on info@fractionallife.com regarding payment on the door, where a £50 surcharge will apply.

Fractional Summit, in association with Fractional Life and sponsored by The Registry Collection, FOC, Citadel Trustees, First American, Kempf International, HVS, Sirkin Fractional Lawyers, Irwin Mitchell, Yoo Phuket, and FSOTA.org takes place on Thursday 18th and Friday 19th 2010 at the prestigious London Marriott, Grosvenor Square, London.

Confirmed delegates already include developers from around the world, speaker and sponsor representatives and attendees from HMC Funding, FNTC, Quintessentially Estates, EMAAR, Dahlgren Duck, Merlin Software, Assetz Plc, Royal Resorts, Gleneagles, Howard Kennedy, Preferred Residences, Seasons Holidays, Tandem Resort Group, Petchey Leisure, Kingfisher Lakes and Apartments,  Felicite Island Development Marriott Vacation Club International, Castello di Casole, Pace Financial Group Ltd, Google and many more….

Press attendance includes; Financial Times, Wall Street Journal, Financial News, Sunday Express, OPP, Global Edge, Homes Overseas Magazine, Perspective International, Conde Nast, Revista Imobiliaria, A Place In The Sun and more.

Tracey Carter, Exhibitions and Conference Manager, Fractional Life said “we’re delighted we’ve sold through the original tickets on offer and have had to be flexible with last minute delegate bookings to cater for the increased demand. The conference room will be absolutely packed.”

Asked why Carter felt this week’s fractional ownership property conference is proving so popular with delegates she remarked “ in these challenging times, we provide exceptional value – the conference takes place at one of the most luxurious hotels in Mayfair and we’ve retained the majority of 2009 sponsors and attracted new companies to the event. There’s certainly lots of repeat bookings and new faces!”.

This year’s programme of events also includes the Fractional Life Awards to honour the best operators in the marketplace today and a copy of the 2009 ‘Trends in Fractional Real Estate: Europe Report’ 92 page study commissioned by Fractional Life and completed by Northcourse Leisure Real Estate Solutions will also be available free of charge from the Fractional Life stand.

Who Should Attend? Real Estate Agents, Real Estate Developers, Exchange Companies, Fractional and Vacation Ownership Sales / Marketing Managers, Fractional Consultants, Fractional Entrepreneurs, Hospitality Management, Financial Institutions, Legal Professionals, Investment Representatives, Suppliers of Value Added Programs and Incentives, Hospitality Industry Suppliers

Industry Sectors: Fractional ownership, Residence Clubs, Condo Hotels, Buy-To-Let Hotel Room Concept, Multi Destination Club Systems

Fractional Summit – Highlights Day Two 12.15-13.15

12:15 Fractional Life Awards Presentation

Fabrizio Harper, Head of Sales, Fractional Life

The Ultimate Accolade

For the last four years Fractional Life has been the voice of authority for fractional buyers of overseas property. To continue the advance of the fractional ownership property marketplace and further consumer awareness we are delighted to announce the second annual Fractional Life Awards:

1. The Fractional Life Readers’ Choice Award (Fractional Developer/Club)

2. The Fractional Life Award for Innovation and Excellence (Person, Fractional Developer/Club or Service Provider)

3. Services to the Industry Award (Person, Fractional Developer/Club or Service Provider) – new for 2010!

12:30 Ultimate Q & A – The Future Of Fractionals

Luca Franco, President, Luxury Leisure Properties International

Piers Brown, Founder, Fractional Life

Jerry Cobb, CEO, FOC (Fractional Ownership Consultancy)

Dr Richard Ragatz, President, Ragatz Associates

Nick Turner, VP and Head of New Business Development Europe, The Registry Collection

Moderator: Philip Bacon, MD of HVS Madrid and EMEA & Asia, HVS Shared Ownership Services.

Piers Brown, Founder, Fractional Life. Piers founded Fractional Life in December 2006 following his MBA, completing his thesis on ‘fractional ownership’. Piers was previously a Sales and Marketing director- having worked in retail, the national media and one of the most successful fractional car clubs over his career. He’s also a qualified member of the Institute of Direct Marketing and Institute of Sales and Marketing Management.

Fractional Life is the number one consumer lifestyle brand dedicated to growing the fractional ownership marketplace. The company has 3 divisions: interactive, fractional conferences and exhibitions (the Fractional Life Expo will be 3 years old this year) and publishing.

Fractionallife.com has 19 different categories including fractional property, destination and PRC clubs, aviation, boats and yachts, classic and super cars and more. The website is the most comprehensive for users looking for help and purchase advice from over 300 fractional operators.

Fractional Summit : Highlights Day Two 11.30-12.15

11:30 Fractional Resales. To encourage future growth and stimulate more sales it is essential the fractional resale channel becomes a more clearly defined market in its own right. The panel discusses the fractional resales that have occurred to date and the current conditions of the resale market; the pros and cons of managing the resale option on your resort and what needs to happen for effective market growth.

Panel:

Peter Kempf, President and CEO, Kempf International
Jerry Cobb, CEO, FOC (Fractional Ownership Consultancy)

Marina Palmerio, Ownership Representative, Castello di Casole

Preben Vestdam, Principal and CEO, Valhalla Associates

Moderator: Andy Sirkin, Owner, Sirkin Fractional Lawyers

Preben Vestdam, President of Valhalla Associates where he oversees the consulting and management services offered to developers, investors and owners of mixed-use hotel and resort properties including development strategy, project feasibility, sales & marketing management and property asset management.Prior to Valhalla, Preben was the President & CEO of NorthCourse, the leisure real estate consulting and asset management arm of Wyndham Worldwide where he established the NorthCourse business globally developing the brand, the product line and the service delivery across four continents. He also established Qatar Real Estate Partners – a joint venture between NorthCourse and Qatari Diar – focusing on sales and marketing of Qatari Diar’s multibillion dollar luxury real estate development portfolio.Within Wyndham, Preben earlier held the position as President & CEO of Group RCI in Europe & Middle East.Prior to joining Group RCI, Preben served as Head of Marketing for JPMorgan Asset Management in EMEA. Preben’s background also includes experience with American Express as Vice President, with Club Med as Marketing Director and 6 years with IBM in various business development roles.A native of Denmark, Preben holds a M.Sc. in Economics from Copenhagen School of Economics and a MBA from IMD in Switzerland.

Andy Sirkin, Owner, Sirkin Fractional Lawyers Andy Sirkin is an expert in fractional real estate, private residence and destination clubs, and other shared vacation home arrangements. His practice includes transaction planning, offering materials, contracts, regulatory approvals, and fractional lending. He has worked on fractional properties in the U.S., Morocco, Italy, France, Spain, Portugal, Ireland, Argentina, Nicaragua, Costa Rica, Panama, Dominican Republic, Nicaragua, Belize and Mexico.

Fractional Ownership Property Conference
Only 7 Tickets Remaining
Fractional Life are pleased to announce that due to phenomenal demand only 7 delegate tickets remain available for this week’s fractional ownership property conference, ‘Fractional Summit 2010’, before the event is completely sold out.

Fractional Summit, in association with Fractional Life and sponsored by The Registry Collection, FOC, Citadel Trustees, HVS, Kempf International, First American, Irwin Mitchell, Sirkin Fractional Lawyers, Yoo Phuket and FSOTA.org takes place on Thursday 18th and Friday 19th February 2010 at the prestigious London Marriott, Grosvenor Square, London

The conference attracts delegates from around the world who are at the forefront of the fractional ownership property industry, and those looking to enter the burgeoning European marketplace. The conference promises to offer an abundance of education and information, with a top class speaker line up and some super networking opportunities.

Countries with delegate representation already include Italy, Spain, France, Portugal, Republic of Ireland, USA, Cyprus, Lebanon, New Zealand, Mexico, Thailand, UAE, Lithuania, Canada, the United Kingdom and more.

Fabrizio Harper, Head of Sales, Fractional Life said “It’s going to be a really busy 2 days particularly as we have already surpassed delegate numbers from last year’s conference. The conference only happens once a year and we look forward to welcoming a full capacity of 250 delegates this week – miss it at your peril”

Confirmed delegates already include developers from around the world, speaker and sponsor representatives and attendees from HMC Funding, FNTC, Quintessentially Estates, EMAAR, Dahlgren Duck, Merlin Software, Assetz Plc, Royal Resorts, Gleneagles, Howard Kennedy, Preferred Residences, Seasons Holidays, Tandem Resort Group, Marriott Vacation Club International, Castello di Casole, Pace Financial Group Ltd, Google and many more…

Press attendance includes; Financial Times, Wall Street Journal, Financial News, Sunday Express, OPP, Global Edge, Homes Overseas Magazine, Perspective International, Conde Nast, Revista Imobiliaria, A Place In The Sun and more.

Very limited ticket availability
A full speaker programme is online at www.fractionalsummit.com . Book now to avoid disappointment – when the remaining 7 tickets have been sold the online booking facility will be immediately withdrawn.

Who Should Attend? Real Estate Agents, Real Estate Developers, Exchange Companies, Fractional and Vacation Ownership Sales / Marketing Managers, Fractional Consultants, Fractional Entrepreneurs, Hospitality Management, Financial Institutions, Legal Professionals, Investment Representatives, Suppliers of Value Added Programs and Incentives, Hospitality Industry Suppliers

Industry Sectors: Fractional ownership, Residence Clubs, Condo Hotels, Buy-To-Let Hotel Room Concept, Multi Destination Club Systems

Fractional Summit : Highlights Day Two 10.15-11.00

10:15 Meet The Agents Despite the current fall out in the whole ownership market, identifying sales agents who know how to effectively sell your fractional real estate development is notoriously difficult. We meet 2 fractional developers who discuss the pros and cons of how they successfully went through this process. We also discuss the issues raised with fractional agents active in the marketplace.

Panel:

Catherine Monaghan, Project Director, Firstlight, The K Club

Charlotte Rose Melsom, Director of International PR & Marketing, yooPhuket

Richard Edgar, Director, Edgars Property and National Association of Estate Agents spokesman.

Lily Simpson, Head of Business Development, Quintessentially Estates
Simon Scott-Nelson, Director, Winkworth Estate Agents

Moderator: Alex Evans, Group Editorial Director, OPP

Catherine Monaghan, Marketing Director, Firstlight The K Club Bringing with her ten years experience at senior management and director level in the investment property and travel industry, Catherine was instrumental in developing and executing the overall marketing and brand strategy for one of Ireland’s largest overseas property companies before joining the Firstlight team to head up Sales and Marketing at Firstlight The K Club.

Charlotte Rose Melsom, Global Director of PR, Marketing & Branding, Absolute Developments, part of the Absolute World Group of Companies, one of Asia’s fastest growing lifestyle brands.

Charlotte’s current focus is on the exciting collection of partner developments, in particular yooPhuket, Thailand’s most exciting designer living environment, designed by the world famous YOO studio, co-owned by Philippe Starck and John Hitchcox and developed by The Absolute World Group. Her responsibility spans UK, Europe, Asia Pacific, Australia and North America and she has been a key player in the set-up of Absolute’s partner branded developments from the outset, both whole and fractional ownership. Under her Absolute World Group capacity Charlotte is also responsible for coordinating and executing Asia Pacific’s inaugural shared ownership conference AOCAP.org and consults externally on media and marketing for the Real Estate industries, brokering a portfolio of property deals in excess of £100m. Charlotte has spent the past 7 years in the residential property sector working with names such as CBRE, Engel Voelkers, Jones Lang Lasalle and Knight Frank and manages external agency relationships across the globe.

Richard Edgar, Edgars Property Company Ltd. Former BBC TV Weatherman and ex Royal Naval Officer, Richard Edgar started Edgars Property Company in Kingston Upon Thames 8 years ago specialising in Property Management, Lettings and Overseas Investments.

Having lived and worked in many parts of the world Richard had established business partners in Turkey, Greece, and the Caribbean which has led to excellent sales and a solid base for investors in new projects.

Richard is a member of The NAEA International Committee and their spokesman on Fractional Ownership having specialised in this area notably in Resort Developments in the last few years.

Richard hails from Yorkshire and despite successful careers in TV, The Navy and Engineering he has been involved in property all his adult life, as in investor, developer and agent and sees Fractional Ownership as a sensible and profitable option if done correctly.

Lily Simpson, Head of Business Development, Quintessentially Estates. Lily Simpson has worked within the property market for the past six years, after studying Real Estate Management at Oxford Brookes University she went on to work for one of London’s top architect firms and was quickly promoted to a development consultant. She then moved to Quintessentially Estates in 2007 and developed a key understanding of the luxury property market. Through working with some of the top developers and hotel operators she has developed her expertise in a number of areas including national and international residential development, luxury marketing and sales, as well as investment initiatives. Her influence in major global markets was an important aspect within Quintessentially Estates as she has become Head of Business Development spanning over several major markets. Her vast knowledge in global markets and her clientele base has assisted Quintessentially Estates in becoming a premier company tailored towards wealthy individuals living all over the world. In the past year she has worked with several fractional ownership schemes and has developed unique fractional ownership packages aimed at her high net worth members and clients.

Simon Scott-Nelson, Director, Winkworth. Estate Agent for 12 years and previously an Associate and Head of New Homes for Strutt and Parker, Exeter specialising in the most luxurious new waterfront and beachfront developments in Devon and Cornwall. From there I was head hunted to Knight Frank Waterfront department as an Associate to market properties from £1m- £10m.

I opened the Winkworth office in Exeter to specialise in the sale of fine Country Homes, waterfront property and prestige new developments throughout Devon and Cornwall. We are widely regarded as the only fractional ownership specialists for the South West and are consulting on some of the most high profile developments in the region. With 90 offices and 56 in central London alone we have successfully opened up the corridor from London and the South East to the West Country in terms of property investment.

Alex Evans, Group Editorial Director, OPP. Having edited mainly B2B magazines for a variety of industries since 1997 – including corporate risk, electrical engineering & healthcare informatics – Alex has been focused on the UK and overseas property markets since 2003. In 2004, he launched two dedicated business to consumer titles for UK property investors – Property Investment and International Property Investor – and in September 2005 launched a new title for the specialist mortgage market. Alex sets the editorial strategy for content across print, online and conference platforms for the Overseas Property Professional (OPP) and is also the chair for the OPP Industry Awards for partnership. In the last year, OPP has reported extensively on the burgeoning fractional market in Europe and launched its first comprehensive Fractional Report to educate overseas property agents and developers in May 2009.

Fractional Summit 2010 : Highlights Day Two 9.30-10.15

09:30 Panel Discussion: Mid Market Fractionals – Where Are The Buyers? The credit crunch and changing consumer preferences has made many companies assess their current sales pipeline and product ranges, and consider entering new markets, eg. what is the right fractional sales approach – timeshare or real estate sales techniques?

This session brings together senior executives from within the mid-market sector to discuss why and how they developed their products, the challenges they faced; what’s working and what isn’t in the current market and projections for the future.

Panel:

Regan Berger, Director of Sales, Arcos Gardens
Paul Owen, Chief Executive, Association of International Property Professionals

Robin Barrasford, Managing Director, Barrasford & Bird Worldwide

Fabrizio Harper, Head of Sales, Fractionallife.com
Bryan Lunt, Chairman, Absolute Group of Companies
Moderator: Nick Turner, VP and Head of New Business Development Europe, The Registry Collection

Regan Berger, Sales and Marketing Director for Novaterra Resorts based in Seville, Spain. With over 12 years experience in International Real Estate, Regan has been instrumental in the successful marketing of several whole ownership resorts in Spain and Bulgaria. Since arriving at Novaterra in 2006 he has quickly established the company’s flagship development, Arcos Gardens, as one of Spain’s leading luxury golf resorts, winning various awards and attracting prestigious endorsements from both National Golf Federations and high profile celebrities who have purchased property. He has recently introduced a Fractional sales platform to Arcos Gardens, recognising and exploiting the benefits that can be gained from marketing a mixed use resort.

Paul Owen, Chief Executive of the Association of International Property Professionals. A non-profit organisation set up in 2006, the AIPP is working to make the international property market a safer place to buy and a better place to work. A recent survey showed 88% of consumers are more reassured by AIPP membership.

Prior to this role, Paul was Sales and Marketing Director for a leading UK agent selling property across France. He joined AIPP at its inception and has been keen to raise consumer awareness to a level at which buyers look for the Member badge before spending their money.

Robin Barrasford Managing Director of Barrasford & Bird Worldwide. Robin Barrasford recognised the potential of the overseas property industry over seven years ago after retiring to Cornwall using the proceeds of his successful UK property company. The retirement only lasted just over a week as it was whilst purchasing his own property abroad that he began to realise the incredible potential of overseas property markets. From this early overseas buying experience, Barrasford & Bird Worldwide was established, created to introduce and guide new and seasoned property buyers to the potential of property investments in emerging locations. Today the company employs over 30 staff in a variety of worldwide locations and develops its own luxury resorts in Greece and the Caribbean.

Fabrizio Harper, Head of Sales, FractionalLife.com Fabrizio Harper’s first brush with fractional ownership came several years ago working as the club secretary for a large fractional car club. Having gotten a taste for sales, Fabrizio has since headed up the sponsorship for a major music award show, and until mid 2008, had been selling property in Mayfair, London. Having experienced firsthand the downturn of the housing whole ownership market, Fabrizio was excited by the opportunities of growth in the destination club, PRC and fractional property ownership market.

Since joining the Fractional Life team in 2008, Fabrizio has taken the brand to Portugal where he now resides permanently.

Bryan Lunt, Chairman, Absolute World Group of Companies, Bryan’s career in the vacation club industry spans almost 22 years. In 2000 his company rebranded to the Absolute World Group and in 2002 entered Beijing, China and expansion thereafter to 650 staff and 11 sales operations globally.

In 2007 Bryan’s vision saw him engage in the real estate and resort development marketplace, taking the Absolute Resort & Hotel management property portfolio to USD 60+ million in only 2 years, whilst selling USD 5 million of generic real estate concurrently. Only 1 year later, Bryan led the Absolute World Group into the uncharted territory of fractional co-ownership in Asia, personally selecting seven projects exclusively for location and investment potential.

The Absolute World Group and its seven subsidiaries: Absolute Vacation Club, Absolute Resorts & Hotels, Absolute Fractional, Absolute Real Estate, Absolute Financial, Absolute Developments and Absolute Thai Lifestyle Magazine, has grown to become a market leading, multi-million dollar global organisation, with over 850 employees, and attracting world renowned names such as the David Lloyd Group and the YOO brand, to enhance their resorts to unprecedented levels.

Nick Turner, Vice President Business Development, RCI. Nick Turner was appointed by RCI in September 2006 as Managing Director for the Middle East region. His responsibilities included overseeing the regional expansion of affiliated resorts high yielding Leisure Real Estate asset classes including Hotels, Vacation Ownership & Timeshare, Fractional models and Buy-to-Use-and-Let Real Estate. Currently, Mr Turner is Vice President of Business Development in Europe, where he is heading a new and dedicated team with the primary goal to work closely with existing and new leisure real estate developers.

His aim will be to provide step by step support and guidance to deliver increased sales and maximise profits through new programmes and solutions.Nick Turner has over 20 years experience in the international hospitality, travel and leisure sectors. Prior to joining RCI, Turner held various leadership roles with several hospitality and leisure companies based in Europe, including the De Vere Hotel Group, Forte & Le Meridien Hotels & Resort and the Intercontinental Hotel Group.

Among his many career accomplishments is the development of worldwide hotel sales and distribution channels to 60 countries, the development of new hotel brands and the project management and delivery of new mixed use hotels and resorts. Turner was recognized by Hotel & Caterer magazine in 2001 with an Acorn Award for “Top Industry Achiever Under the Age of 30” and again in 2003 at the National Sales Awards as a “Sales Leader of the Year in UK Industry Winner.

Fractional Summit 2010 : Highlights Day Two 9.00 – 9.30

09:00 How To Sell fractional Valerie McDermott has been successfully selling luxury fractional real estate in the United Kingdom for the past 4 years. The speaker explains the various techniques she uses within the sales cycle and the points to consider when selling a luxury fractional product over whole ownership.

Valerie McDermott, Membership Executive, 47 Park Street – Grand Residences by Marriott

Valerie McDermott is 47 Park Street’s leading Membership Sales Executive, having sold a record number of fractions in the first three quarters of 2009 alone. She has worked at the residency for over four years and knows the fractional property market inside and out.

Born in London but raised in Calgary, Canada, Valerie started her career in the fashion industry in the early 1990s. As a manager of her own successful textile business, Valerie regularly found herself travelling the world and quickly fell in love with London – so decided to move here permanently.

She started working at 47 Park Street in 2005 and has never looked back. Priding herself on her ability to immediately connect with potential Members, Valerie’s successful selling style is built on her natural curiosity and interest in people coupled with the desire to find the perfect property solution to match their needs.

47 Park Street is a private and exclusive residence club located in the heart of prestigeous Mayfair. It’s membership offers frequent travellers to London an intelligent alternative to traditional property ownership or hotel stays.

The property consists of 49 one-and two-bedroom residences only, which are sold in 13 fractions each. Members can purchase one or multiple fractions and each fraction allows them to use their residence for a minimum of 21 nights per year however they see fit. Additional nights can be purchased on an ad hoc basis at a low per diem rate. Alternatively, Members can rent out some of their allocated time or exchange it for time at one of the Ritz-Carlton Club resorts in the US.

The residences are elegantly furbished to the highest standards of Marriott Vacation Club International and spacious in terms of actual size and space experience, varying from 53-97 sqm.

Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.

Prices currently range from £111,000 to £260,000

The residences truly feel like a private home. As such there are no ‘hotel’ amenities on site. However, Members are granted privileged access to exclusive partner clubs in Mayfair, including Pasley-Tyler, Morton’s, Spa Illuminata and the health club at the Marriott Park Lane, which enhances the Members’ lifestyle when in London. In addition, Members enjoy special privileges at The Royal Opera House, The London Golf Club and the Dali Fine Art Gallery. Michelin starred restaurant Le Gavroche is located in the building, with a Members private access door. Hotel services include Clef d’Or Concierge, 24 hour In Room Dining, twice daily maid service, valet and in house florist.

Once Members have joined the club, their booking arrangements are looked after by a dedicated Member Services team, who have a private phone line and direct email address. The team is highly knowledgeable about the Member’s personal preferences and specific requirements, to ensure all expectations are met, if not exceeded. In addition, the team will advise the Members on rental opportunities if appropriate and/or any other usage options.

47 Park Street, Grand Residences by Marriott is London’s first property to introduce the innovative concept in private residential club membership, offering Members an intelligent alternative to second home ownership. It not only eliminates the financial commitment and maintenance worries usually associated with traditional property ownership, but Members also enjoy a truly flexible, hassle-free and enhanced way of life in London. Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.

Fractional Summit 2010 : Highlights Day One 17.15

17:15 Fractional And Shared Ownership Trade Association ‘Call for members’ meeting. The True Value Of A Fractional Trade Association. The Fractional and Shared Ownership Trade Association is the only trade association totally dedicated to promoting best practice in the fractional property market. The speaker presents the background behind this newly formed trade association, current membership benefits and the ongoing support of the RDO.

The speaker talks about the implications of the forthcoming European directive and legislation and FSOTA’s plans for the future.

Paul Gardner Bougaard, Chairman, FSOTA

Paul Gardner-Bougaard, Chief Executive, RDO and head of the Fractional and Shared Ownership Trade Association (FSOTA). Paul Gardner-Bougaard was called to the Bar in 1972 and was a practicing barrister for 10 years before taking a Masters degree in EU Law at Kings London in 1982.

He then went to Brussels to study for a short period in the EU Commission’s Legal Service, before joining Abbey National as European Director in 1984. Having set up and acquired some 6 European and offshore subsidiaries, he became Director of Abbey’s Estate Agency operation in 1992, leaving Abbey in 1995 after the agency network was sold.

He joined IFG Group Plc in 1995, first running FNTC the timeshare trustee and eventually becoming the Group Director responsible for all offshore operations. He left IFG in 2005 becoming a consultant with the IIB Network and joined RDO in 2007 as Chief Executive.

Fractional Summit : Highlights Day One 16.30 -17.10

16:30 Panel Discussion: Is Web Search Engine Optimisation Dead? – The Rise Of Social Media. The stability in the future of web search has recently been put into question due to the impact of social media (Twitter, Facebook, etc.). Since people are doing more and more searches on social media sites this has given consumers unprecedented influence in helping to build a brand or destroy a reputation. Does this mean that social media will eventually replace search engines?

We’re joined by two sets of web experts: specialists in online search engine optimization and social media who will be debating the pros and cons of each discipline in the marketing mix and predicting how the online landscape will be changing over the next 12 months.

Panel:

SEO:

Jeremy Spiller, Managing Director, White Cat Media

Alex Faiers, Managing Director, Addictivity.com

Social Media:

Lloyd Salmons, Managing Director, Outside Line. Social Media Chair, Internet Advertising Bureau

Roy Bristow, 140 Property

Moderator: Greig Holbrook, Director, OBAN Multilingual

Jeremy Spiller, Managing Director, White Hat Media. In 2003 Jeremy founded award winning search marketing, social media and development agency White Hat Media. White Hat Media’s clients include Microsoft, Toshiba, The Royal Opera House, The Gym Group, Coty, and Yardley.
Jeremy is an expert in web marketing, and in particular search and social media marketing. He regularly writes articles, runs workshops and speaks at conferences on the subject for organisations such as The Chartered Institute of Marketing (CIM), Sussex Enterprise, Econsultancy and McCann Erickson.

In the last twelve months, Jeremy has spoken at many other events both locally and nationally. He has been quoted in or written articles for The Sunday Times, .net magazine, New Media Age, and The Essential Business Guide.

Alex Faiers, Managing Director, Addictivity.com. Alex Faiers is a founding director of Addictivity, a website design agency specialising in online marketing that was first established in 1998. Addictivity remain a small focused agency working with a handful of clients across website design, development and in particular search engine optimisation.

Alex read Typography & Graphic Communication for four years at Reading University, and after working as Senior Designer at educational publishing house, OnCourse publications, moved over to focus on interactive design and started Addictivity. During the last eleven years the company has worked with a wide-ranging client list including Motorola, Cisco Systems, BT Ignite and Wella. The current client list features the likes of M&CSaatchi, Esporta, Thomas Lyte and McGriggors.

Lloyd Salmons, Managing Director, Outside Line. Social Media Chair, Internet Advertising Bureau. Lloyd Salmons began his career working for EMI Records, being promoted to establish the International New Media Marketing function, co-ordinating digital campaigns across all territories worldwide. In 2000, Lloyd started up one of the first real digital marketing agencies, ‘Outside Line’, specialising in digital marketing for the entertainment business.Since its inception, Outside Line has grown into a full-service digital agency with, an annual turnover of over £2m that employs more than 40 people.

As well as his work with Outside Line Lloyd is currently Chair of Social Media for the IAB (Internet Advertising Bureau). Lloyd has also developed his own TV show with longstanding business partner Ant Cauchi (co-founder of Outside Line) and Blur’s drummer Dave Rowntree. The animated show “Empire Square’ first aired on mobile phones in 2004, and following high-profile publicity was commissioned by Channel 4 for a 12-week run and six 30 minute shows with US TV network Fuse.Lloyd’s keen interest in music has also led him into setting up ‘Transistor Project’ in 2005: one of the first digital record labels. This was in partnership with Ant Cauchi, Dave Rowntree (Blur) and Queen’s manager Jim Beach. The label has signed two artists since its launch and has also recently secured a label deal with EMI records.

Roy Bristow, 140 Property. Roy started his career in the property industry as the Sales and Marketing Manager of Atlas International. Here he launched the brand across a full channel mix including TV and Radio campaigns, online, direct ,ambient advertising, national, local, and magazine advertising. He managed the complete overhaul of the website for Atlas and Iberian International. Moving to NewSkys in 2004 he rebranded and developed the overseas property portal and headed up an online team addressing all the requirements of buying a property overseas.

In 2006 he became Head of Online at Real Estate TV rebranding the website and TV channel, building client microsites and video marketing campaigns. He has recently created 140property a social media consultancy looking at building social networks around brands and developments within the property industry utilising all the social media and video sites to personalise their business and create conversations between peers and customers that lie at the heart of the social media marketing revolution.

Greig Holbrook, Director, OBAN Multilingual. Greig has worked in Multilingual SEO (multilingual search engine optimization) for over 9 years. Since 2003 he has been Managing Director of OBAN Multilingual.

OBAN Multilingual have pioneered Multilingual SEO, International PPC and Cultural Multivariate testing and now has 26 offices worldwide staffed by local online experts in each country.

Greig’s passion lies in helping to create trade without borders so the full global potential of the web can be opened up.

Greig is famously quoted with saying that “there is no such thing as the world wide web” as too many companies are invisible to potential clients through ineffective international SEO and global web strategy.

Greig has given numerous talks, presentations and training sessions for organisations such as E Consultancy, WTM, Eye For Travel, Ad-Tech & UKTI.

Only 7 Working Days To Go – Take your fractional ownership opportunity in 2010!
Secure your ticket(s) to Europe’s largest fractional property conference:

• Where delegate tickets are approaching sell-out
  (14 remaining).
• Where confirmed delegate attendance is already up 20% on the 2009 period.
• Where you can learn of new business opportunities that will help you stay on top and ahead of the competition.
• Where you can discover new inspirational ideas and innovations to enhance your company’s growth and profitability.
• Where you can meet the key players, network and tap into the latest industry trends and economic insights.
• Where confirmed delegates arriving from all over the world include Italy, Spain, France, Portugal, Republic of Ireland, USA, Bahamas, Mexico, Thailand, Lebanon, Dubai, Morocco, New Zealand and of course the United Kingdom.
• Where we will reveal and celebrate the Fractional Life Awards winners
• With over 35 speakers and expert panelists present from around the world.
• With innovative new speaker and panel sessions to focus on the real issues within the marketplace. e.g. fractional resales, mid-market fractionals
• With real ‘live’ fractional practical case studies, how to sell fractional effectively and fractional legal Q and A’s.
• Learn from new e-marketing sessions including the power of online video, social media and web search engine marketing.

Fractional Summit 2010 delivers all this and more.
The conference happens once a year – don’t miss out, be there!
Secure your place(s) by booking online now at www.fractionalsummit.com
Very limited ticket availability.

Vote for the 2010 Fractional Life Readers Choice award

The shortlist for the 2010 Fractional Life Awards has been announced, and we are giving you the opportunity to vote in the Readers’ Choice category.

Vote here for the fractional real estate development you believe should win this year’s FL Readers Choice award. Only one vote per person is allowed, and voting ends on Tuesday 16th February 2010. The winner will be announced at the Fractional Summit in London on 19 February 2010.

The choice is between the following four developments:
Appassionata, Casa Giacomo, Le Marche, Italy
Oceanico Prestige Residence Club
yooPhuket, the Absolute World Group
47 Park Street, London

Read their entries below, and then click here to cast your vote.

Entry 1: Appassionata, Casa Giacomo, Le Marche Italy

The beautiful countryside Estate of Casa Giacomo Leopardi is situated just below Montefiore dell’Aso in Le Marche, Italy. The luxury development will consist of three beautiful properties sitting in five acres with stunning views of the Adriatic Sea and Sibillini Mountains.

The three properties are undergoing a combination of a sympathetic renovation and new build. The original property is a former working farmhouse and outbuildings, over 150 years old. We will create two four-bedroom houses (230 and 210 square metres) and one of three-bedrooms (180 square metres).

Casa Giacomo, completed in October 2009, has been designed to ensure a harmonious blend of traditional and modern materials.  The use of chestnut wood, marble, granite and handmade terracotta floor tiles blend perfectly with the bespoke bathrooms and Italian fitted kitchen. The interiors have been created with a lovely balance of modern and traditional materials, creating a warm feeling of home whatever the season. Original art, antiques, modern furniture and high quality fittings all work together to give you the best of both modern and old Italy. The other houses will be finished to a similar standard but have their own individual design created by interior designer Dawn Cavanagh-Hobbs.

Our Fractional Ownership model has been developed in conjunction with Eric Gummer of Howard Kennedy. The structure utilises a UK Company limited by guarantee, a non trading entity that issues company membership to owners; this clearly details the ownership rights. The deeds of the property are held in a wholly owned UK subsidiary company. The memberships are fully transferable and can be sold at any time. ‘The members own the Company – the Company owns the property.’

We have purposefully developed a very flexible fractional ownership model so that owners can create the fraction that suits them best. We did not want to be constrained by a set model so have come up with a scheme that is driven by complete flexibility. Whether potential owners want to purchase 3 months, 5 weeks, or just 1 week, we have a model that will work for them. Our pricing is competitive:
A single week’s ownership is £20,000 pounds
Three week’s ownership in Casa Giacomo is £55,000 pounds
For any purchase over 3 weeks each additional week is available at £18,000 pounds.
For less than £100,000 (£91,000) you can own 5 weeks residency in Casa Giacomo

Our Rotating Residency Calendar also allows complete flexibility, owners can either take their weeks together or split them as they desire. The most fundamental rule of the Rotating Residency Calendar is that your weeks, single or grouped together will always move each year by one season (the year is split into 3 seasons) and one week. This way owner’s get the chance to experience all seasons of the year and still have the flexibility to exchange weeks with other owners. We think this is key to the emerging European market where the fractional model is still establishing itself.

The facilities have been created for all seasons and truly reflect the wonderful Italian lifestyle. The large swimming pool, all weather tennis court, private terraces, landscaped gardens, olive groves and newly planted organic vineyard will offer something for everyone. Our aim is to create the perfect Italian country hideaway.

Our members will own a vineyard and olive groves, how many people can say that! We will aim to produce organic wine and olive oil that will be distributed to members on the basis of weeks owned. They can be as involved as much as they want and will experience the seasons in a very different way because of it.

When developing the property we have sourced locally produced materials and worked with local artisans in the production of light fittings, iron work, special paint features, chestnut beams and even the production of an Appassionata dinner service by famous local potter Bozzi.
There is under floor heating, open fires on each floor, wifi and high quality entertainment systems, including a Wii fit.

We are a small boutique business that aims to develop a very personal service in line with owner’s requirements. We can arrange private dining, additional cleaning services, taxis, baby sitting , beauty & massage treatments, and excursions as required. We anticipate leaving our owners to their own devices but being there when needed.

Le Marche has so much to offer. Enjoy lying on the beach, skiing in the Sibillini Mountains, long countryside walks or cycling through the rolling hills or national parks, you’ll find plenty to do. This is real Italy!

Our after sales service will include ensuring all members are kept informed of news and activities at the estate and local region.

We will not provide a formal concierge service but will undertake any reasonable request by an owner, at their expense when cost is incurred. We are based just 10 minutes drive from the development so we are on hand and able to provide a very personal, unobtrusive service.
Our office will assist members who wish to exchange weeks with other owners, with service weeks or unsold weeks. We are still investigating an external exchange program and are also in discussion with other similar developments around the world to possibly set up an informal programme.

Members who wish to sell their fractions, or a proportion of their weeks, will be assisted by our office and the website will have a section for this purpose. The same will apply for renting out the property.

As with all these things we are a small dedicated team so can tailor the service much more towards the needs of the customer rather than creating a large unnecessary program. Where appropriate we will use professional external services.

The Estate of Giacomo Leopardi is beautifully positioned, with sea and mountain views. Located in the wonderful region of Le Marche, there is a tremendous combination of history, culture, agriculture and leisure activities. Owners can live the Italian dream and experience the art, history, culture and culinary delights of real Italy.

The quality of our construction, interior furnishings and facilities reflect a luxurious proposition. The development of a new organic vineyard and olive groves gives you more than just a holiday home; you could be picking grapes and olives, bottling olive oil and drinking your own wine!
Appassionata is not only the developer but the property manager. We will provide on-going management support for as long as members are happy with our service. We are a small boutique business, not a large faceless commercial organisation.

Our pricing structure reflects tremendous value and is hard to find in an equivalent development. We have investigated many types of fractional developments around the world and think we have come up with something extremely flexible and appealing to potential owners in Europe. We are a self funded business and as such have taken our time to develop the best model, and when necessary will adapt it to changing circumstances.

We believe that 2010 is going to be another difficult year for the luxury overseas property market, fractional ownership included. We are formally launching our development in Jan 2010, and have planned a series of advertisements, in the press and on-line, combined with editorials to run over the spring.

We feel very positive about the long term future of fractional ownership and will work hard to attract new customers to our business while educating a broader cross section of consumers about fractional ownership and its obvious benefits.

We are working on plans to offer a developer finance package that will launch in the spring to further enhance our offer.

Entry 2: Oceanico Prestige Residence Club

Oceânico Prestige Residence Club (OPRC) is not just fractional ownership but a two part concept – deeded ownership and at the same time, membership of a residence club. Owners share a portfolio of fully furnished, beautiful residences in desirable locations around the world, giving the exclusive access to high quality resorts with a carefree but secure way of owning property abroad.

In addition OPRC provides a comprehensive range of luxury lifestyle services available to each OPRC owner designed to help live life to the full.

Dependent on location, services available will include:
Sunseeker luxury cruiser
Membership of world-class golf courses
Executive car service
Concierge service
Spa & wellness centres
Fitness centres with state of the art equipment
Use of a wide range of leisure and sporting facilities
Golf buggy

Having based our product on a system of occupancy used in the USA for many years which has been tried and tested, we feel that we are offering our clients the best possible styled product. We did a lot of market research on the subject of fractional ownership and residence clubs and feel that we are one of the first to recognise that purchasers are looking for that little bit more than just a fractional ownership or a residence club, hence we combined the two. This is today’s answer to what clients are looking for. Ownership, being able to holiday anywhere in the world and not have exorbitant costs to do so.

OPRC resorts are managed and maintained to a five star standard overviewed by Oceânico Prestige Residence Club´s operational team. The added value for buyers is that in addition to the OPRC lifestyle services, they can also benefit from the resorts´ facilities and amenities such as:

o   Amendoeira Golf Resort has two onsite championship golf courses, a majestic Clubhouse with restaurant and bar, The Amendoeira Golf Academy & Callaway Fitting Suite with tuition programmes for all levels, as well as the Amendoeira Sports Club offering bowling greens, tennis courts, football pitches, cricket and gymnasium.
o   Belmar Spa & Beach Resort -which has the ocean on its doorstep –  includes a state of the art health and beauty spa, hydrotherapy pool, sauna, steam room, gymnasium, indoor swimming pool and four outdoor swimming pools, tennis court but also access to various water sports / activities and just 5 minutes from the historical town of Lagos.
o   Each OPRC property owner has also access to the famous Vilamoura championship golf courses (Oceânico Victoria, Oceânico Old Course, Oceânico Pinhal, Oceânico Millennium and Oceânico Laguna)
Each destination has its unique range of facilities for the OPRC owner to enjoy.
We have long recognized that client satisfaction is core to our operation and fundamental to our success. To underline this belief and enhance our commitment to client satisfaction, the customer relations department was established back in 2007 and has a simple objective: to make the complete property acquisition process, from contract signature to handover of the keys, a smooth, trouble-free and enjoyable experience.
The customer relations team have established relationships with existing customers providing the all important contact point for any client wishing to enquire about their properties progress and any related issues.

Our team has been leading the fractional field for some time and won an award for our other product Stepping Stones – a 12th and quarter share option.

Having based our product on a system of occupancy used in the USA for many years which has been tried and tested, we feel that we are offering our clients the best possible styled product. We did a lot of market research on the subject of fractional ownership and residence clubs and feel that we are one of the first to recognise that purchasers are looking for that little bit more than just a fractional ownership or a residence club, hence we combined the two. This is today’s answer to what clients are looking for. Ownership, being able to holiday anywhere in the world and not have exorbitant costs to do so but without any compromise on luxury living.

Oceânico is a group made up of three divisions: Developments, Golf and Resorts & Leisure. We have a portfolio of resorts which total approx 1 billion Euros. It is in our interest to look after our clients, our resorts, the properties within the resorts and golf courses and ensure that the standards set, are adhered too. We feel that brand alliances will take away from our product by passing over the responsibility to another company therefore we are keen to look after our own products and clients to the highest standard even with partnered resorts.

Our purchase contracts are simply written but comprehensive. They have been viewed by a large number of lawyers both in Portugal and the USA confirming that we have a good set of legal documents which at the same time are very easily understood and straight forward.  Each potential owner has ample time for their lawyer, solicitor or attorney to review them and then help to clarify any concerns, thus giving them a comfort level on moving forward with the purchasing decision

Entry 3: yooPhuket, the Absolute World Group

yoo’s breakthrough innovations in contemporary living styles and quality design are admired around the world, now, in partnership with one of Asia’s leading development and lifestyle brands, Absolute Developments, they are proud to introduce yooPhuket.

yooPhuket is a spectacular collection of 256 apartments and penthouses offering all the services and facilities that you would expect from a world-class development. The perfect base from which to experience Phuket. The collection of studio, two bedroom apartments and penthouses combine design-led architecture, including superior furniture collections exclusively designed for yooPhuket and the high quality specification yoo is renowned for, whilst being centred in a beautiful natural lakeside setting surrounded by Phuket’s best Golf Courses.

Natural local materials are incorporated into the designs. The wraparound balconies of the apartment buildings provide each home with its own private outside space. Penthouses have the option of their own private terrace Jacuzzi. From carefully selected kitchen and bathroom fittings, to the designer finishes, the very best specification has been chosen throughout.

The contemporary design offers open plan living space with dramatic floor to ceiling windows, opening onto spectacular views across the lake, golf courses and lush landscapes. The impressive master bedroom suites have en suite bathrooms and walk in closet space. Stylish kitchens are fitted with integrated appliances. Bathrooms have fully tiled walk in shower enclosures and state of the art home technology includes comfort cooling systems and the latest audio visual equipment.

Stand-out interiors are one of the things yoo do best. Each yooPhuket apartment comes fully furnished with a yoo designed furniture collection the apartment is ready to enjoy, even down to the last teaspoon. In addition clients can choose from a selection of the most sought after designer interior additions and upgrades to create an apartment that is perfectly unique to you.

yooPhuket apartments are available both whole and fractional ownership, under Absolute’s well established and highly successful quartershare ownership initiative. Prices for a three month quartershare fraction are 38sqm Studio £44,000, 70sqm 2 bed £65,000 and 105sqm Penthouse £97,300. This includes all superior furnishings, use of a 31ft fully captiained powerboat and the latest Callaway golf clubs plus the standard 5 star service management company Absolute Resorts & Hotels are renowned for.

Units are sold as Freehold and come with a 5 year warranty. Annual management charges for a quarter share start at £1010.

Unlike whole freehold ownership, fractional owners do not need to open a Thai bank account, as they receive shares purchased from an overseas company, (Not a Thai company), which has leased a number of condominium units in the project. These are purchased by
a foreign company under a 30 year registered lease with developer approval of 10 renewable leases offering 300 years of occupational rights. The owner of each quartershare will have a share certificate of a British Virgin Island company, which relates exclusively to a fixed unit at the project and offers guaranteed accommodation rights for a certain time period for the period of the lease plus the lease renewals. The scheme has been approved locally and internationally by lawyers as a way of guaranteeing ownership very similar to those a freehold owner would have.

The apartments are divided among five interconnected six-storey buildings. The crisp clean lines of the sleek contemporary architecture are an elegant complement to the surrounding landscape. The buildings are set around the stunning pools, indoor to outdoor clubhouse and relaxation areas, which create the natural focal point and social hub of the development. The immaculate grounds are carefully tended by the maintenance team throughout the year. Planted with indigenous and tropical species, the gardens are colourful and fragrant with flowers such as jasmine and orchids.

Multi-level infinity edged swimming pools are surrounded by poolside cabanas and outdoor fireplaces within palm lined relaxation areas. There is a poolside indoor to outdoor clubhouse with fully equipped gym, yoga and well-being spa as well as a business centre, which offers wireless internet, fax and conferencing facilities, and a conference room that can be booked for private use. 24 hour security and concierge services are available with free airport transfers and a shuttle bus service.

First class service is a priority at yooPhuket and  Absolute Resorts & Hotels who will manage the development ensure just that. From arranging transport to pick clients up from the airport, to excursion booking for island activities, the reception concierge is on hand to take care of these things. A shuttle bus service is available to take residents to various locations around the island of Phuket.

The Absolute Resorts & Hotels team takes care of maintenance of the pool, grounds and communal areas, as well as rubbish collection, housekeeping and the laundry service.

Owner can put their full Fractional Period into the Absolute Resorts Management Company 50/50 Rental Program earning 50% of the revenue. Owners can also sell shares through the Absolute Fractional Re-Sale Programme or the owner can sell shares outside of the Fractional Re-Sale Programme. Resales are simple and effective due to a wider demand audience able to afford the price, making it easier and quicker to resell than an outright purchase.

Owners will also enjoy access to Absolute’s affiliation with the renowned Registry Collection, the world’s largest luxury exchange programme, providing members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations far beyond their Thailand accommodations.

Not only do you invest in a fraction of the purchase cost but the annual management charges are also shared with the other fractional owners. Fractional owners enjoy all the benefits of a sole owner and more. Absolute work to find like minded people to share in the fractional ownership with you. You will receive a share in the owning company and benefit from the capital appreciation. Just as with whole ownership, you can rent out your three-month usage period in whole or in part generating a rental return.

When Absolute combined their Fractional Ownership and Thai housing market know how and experience with world renowned design company yoo, they laid the foundations for one of a kind partnership: designer apartments and penthouses that are superbly built on the beautiful island of Phuket, Thailand, and a first for the yoo brand – available as fractional ownership.  Not only does yooPhuket, promise to deliver desirable and well constructed homes that have interiors created by the exciting and cutting edge yoo designer team but this development is really putting fractional ownership on the map and opening up this exciting purchase option on a global scale.

Entry 4: 47 Park Street, London

47 Park Street is a private and exclusive residence club located in the heart of prestigeous Mayfair. It’s membership offers frequent travellers to London an intelligent alternative to traditional property ownership or hotel stays.

The property consists of 49 one-and two-bedroom residences only, which are sold in 13 fractions each. Members can purchase one or multiple fractions and each fraction allows them to use their residence for a minimum of 21 nights per year however they see fit. Additional nights can be purchased on an ad hoc basis at a low per diem rate. Alternatively, Members can rent out some of their allocated time or exchange it for time at one of the Ritz-Carlton Club resorts in the US.

The residences are elegantly furbished to the highest standards of Marriott Vacation Club International and spacious in terms of actual size and space experience, varying from 53-97 sqm.

Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.

Prices currently range from £111,000 to £260,000

The residences truly feel like a private home. As such there are no ‘hotel’ amenities on site. However, Members are granted privileged access to exclusive partner clubs in Mayfair, including Pasley-Tyler, Morton’s, Spa Illuminata and the health club at the Marriott Park Lane, which enhances the Members’ lifestyle when in London. In addition, Members enjoy special privileges at The Royal Opera House, The London Golf Club and the Dali Fine Art Gallery. Michelin starred restaurant Le Gavroche is located in the building, with a Members private access door. Hotel services include Clef d’Or Concierge, 24 hour In Room Dining, twice daily maid service, valet and in house florist.

Once Members have joined the club, their booking arrangements are looked after by a dedicated Member Services team, who have a private phone line and direct email address. The team is highly knowledgeable about the Member’s personal preferences and specific requirements, to ensure all expectations are met, if not exceeded. In addition, the team will advise the Members on rental opportunities if appropriate and/or any other usage options.

47 Park Street, Grand Residences by Marriott is London’s first property to introduce the innovative concept in private residential club membership, offering Members an intelligent alternative to second home ownership. It not only eliminates the financial commitment and maintenance worries usually associated with traditional property ownership, but Members also enjoy a truly flexible, hassle-free and enhanced way of life in London. Marriott Vacationclub International was the first to introduce the urban fractional concept to the London market when they launched for sales back in April 2003. Its highly flexible usage structure and overall value proposition is still unique in the local industry. In that sense 47 Park Street has acted as a true pioneer for the fractional model in the UK and European markets.

So, you’ve read the entries, now click here to vote for your favourite.