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What can businesses and individuals in the

sharing economy learn from the timeshare

industry?

KISTNER:

I don’t think it’s what they can learn; it’s what they

did

learn. It’s an evolution of the timeshare concept. One of the competi-

tive advantages is they’re not spending the money to build it, so

they’re not incurring the expense of the hard asset, and they’re bene-

fiting more from the servicing aspect of the commercialization and

movement of the transactions.

BUCHALTER:

But I would say that one of the things they could learn

is to be better service-oriented. I’ll

give you an example: We just

recently got involved in taking over

rental homes in Loreto Bay. The

majority of those homes were

under VRBO. The big difference we

have over VRBO is that we’re pro-

viding a concierge service and all

the things that you would have if

you actually owned a timeshare.

So, for example, when the client

calls to book the room, now they

have a customer service agent

who will help them book their

transportation.

NUSBAUM:

We are a model for

the new sharing economy to real-

ize that although harmonizing with

the regulatory environment and

paying your fair share may seem

burdensome at first, ultimately it’s

a ticket to success.

SAFT:

The sharing economy is in

its infancy. It can certainly speed

up its maturity by looking at some of the hard lessons learned through

our four decades of work in the space. Taking on self-regulation as

well as a conciliatory and cooperative attitude toward elected officials

and the municipalities they represent would be great lessons learned

from our business.

What can we take away from the sharing

economy?

ALUVILA:

As times change, consumer behaviors also change. The

timeshare industry should be willing to listen to consumers and

understand their appetite for new products and the ways they want to

consume or buy these products. I believe there is a great opportunity

for the industry to reinvent itself by creating new product lines and

processes to deliver next-generation membership products.

SAFT:

The sharing economy has matured in less than five years due

to, in no small part, a tremendous and well-developed information

technology infrastructure. Our sector of the lodging space has typi-

cally lagged behind the other major tranches of the hospitality space

in terms of IT investment. If we want to take our business to the next

level, we are looking at a roadmap — albeit an expensive one — on

how to do it.

MILLER:

I think they’ve mastered transaction simplicity. The ability to

be on your mobile phone and book an Uber car or a home rental with

HomeAway or VRBO — those transactions are simple and fast. And I

would say the timeshare industry as a whole is way behind from a

technologically enabling standpoint with their consumers.

Obviously, they’ve done a good job of having a base of people pro-

viding immediate feedback on their experience. So it’s not just them

telling customers that it’s a good deal or a great place to stay or a great

driver or what have you. Instead it’s

another customer telling them.

I think the timeshare industry

could do a lot better at that —

because we have a very satisfied

owner base and there’s an oppor-

tunity to allow that owner base to

help communicate how great the

product is to the open market.

Have you, personally,

turned to the sharing

economy, whether

lodging, car hire, or

another service?

If so, what was your

experience like?

KISTNER:

For what it is, it’s OK.

That’s not my style. I prefer a full-

service resort.

BUCHALTER:

I’ve done VRBO a

couple of times and only in places

where I didn’t feel there was

good-enough quality of the hotels.

My experience with booking and getting it was good. But I’d rather

stay in a nice hotel.

MILLER:

I’m a big fan of Uber. They’re a great service — no cash, no

tip, transparency of the driver, and everything else. I’ve not used any

of the lodging services. Fortunately or unfortunately, I’ve got access

to a lot of great resort areas with our product.

ALUVILA:

I’ve stayed at multiple vacation rental properties. And was

satisfied with the overall process — good management, great accom-

modations, and wonderful service.

NUSBAUM:

I have used HomeAway, both as somebody putting

inventory on there as well as somebody renting inventory. I’ve had

mostly positive experiences. And I’m not even the demographic —

I’m pushing 60. So I would encourage other old baby boomers like

myself to get hip and check out the sharing economy.

“We are a model for the new

sharing economy to realize that

although harmonizing with the

regulatory environment and

paying your fair share may seem

burdensome at first, ultimately

it’s a ticket to success.”

— Howard Nusbaum, president and CEO, American Resort

Development Association