Timeshare Companies - OWN FFD TWRI VSTN SVR BXG Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Timeshare Companies - OWN FFD TWRI VSTN SVR BXG

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Grommit who wrote (20)	5/20/1999 10:45:00 PM
From: Grommit	Read Replies (1) of 55

Schroders report. I just skimmed thru a report from Schroders dated 9-1-98. 16 pages titled "Timeshare Industry Update". > Marriot, Hilton, Hyatt, 4 Seasons are doing timeshares. > PAH, Starwood, HOT have expressed interest. > Expect consolidation > Think smaller timeshare companies may be using looser accounting for reserves. > Concerned that internet use to resell units may bring prices down for the industry. > Think the financing business of the industry confuses investors. > valuations - expect past reputation of the industry, lack of recurring revenue, and financing confustion to keep multiples down as compared to what they might be based on growth alone. > Thinks OWN should have the highest multiple "because it is best positioned with its large and global network of resorts...", FFD next, and VSTN lower. (They cover only those 3.) > Overall Industry Risks -- (a) Lack of recurring revenue stream. (Gotta keep finding new customers.) (b) Resale market. (c) economic downturn (d) lack of consistent accounting and reporting.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next