Many hospitality projects today are being structured on a mixed-use development model that includes vacation ownership, hotel-condominium, retail, office, or residential components. The Shared Ownership Services practice at HVS provides the strategic advice, consulting, and/ or valuation services required by companies that wish to enter, or expand their involvement in, shared ownership real estate. HVS shared ownership personnel have completed assignments spanning the United States, Mexico, the Caribbean Basin, Central America, South America, Europe, and the Middle East.

Shared ownership executives at HVS have been involved in the timeshare industry since the early 1980’s. During their initial entry into the timeshare business, many hotel brands made effective use of the hotel-timeshare mixed use business model. Today, given the advent of the ‘just in time inventory’ and ‘fee-for-service’ business models, vacation ownership properties are also frequently developed outside the hotel-timeshare mixed use model, which enables more real estate developers to consider a shared ownership development option.

Many HVS shared ownership personnel are also licensed appraisers. HVS shared ownership professionals wrote the book for the Appraisal Institute on valuing timeshare properties. Most lenders serving the timeshare industry engage the HVS practice for their market feasibility study and appraisal needs. One notable assignment involving the HVS Shared Ownership Services practice was the valuation of the entire Hilton Grand Vacation Club division of Hilton at the time the Hilton Hotel company was sold to Blackstone.

 

HVS shared ownership professionals have also provided key litigation support and/or expert witness testimony on ad valorem tax litigation matters, IRS challenges, and bankruptcy reorganizations involving timeshare property, and have assisted hotel-condominium developers and homeowner associations in resolving disputes regarding the allocation of shared expenses. HVS Shared Ownership Services has strong relationships with all the major timeshare companies. This enables us to find the right timeshare ‘partner’ for our clients for a given project. We also assist our clients in negotiating the best deal structure, and work with our clients in the coordination of the necessary pre-development activities and services.

 

A recap of our advisory services and our development services appears below.

Advisory Services

• market research and analysis-sales price and sales pace
• market and financial feasibility studies
• product positioning and amenity recommendations
• assistance with business plan compilations
• development strategies for optimizing mixed use real estate
• financial projections/ cash flow modeling
• securing branding and marketing alliances/contracts with existing timeshare companies
• litigation support and expert witness testimony

Development Services

• deal structuring and advisory services on entering the industry
• predevelopment coordination
• securing branding and marketing alliances/contracts with existing timeshare companies
• arranging equity partners
• point based program design and reviews
• project and asset management services

Appraisal and Valuation Services

• project appraisals for all property types serviced by the Shared Ownership Services practice
• timeshare inventory appraisals for construction and/or hypothecation lending
• management contract/company valuations