The Future Looks Bright

November 24, 2009 by Fractional & Shared Ownership Property News & Reviews · Leave a Comment

In this exclusive interview, Maria Mills- Farinas, Managing Director of one of Europe’s leading resale brokerage Travel and Leisure Group, reveals the secret of her success, why – twenty-five years on – she still loves what she does, and why she’s committed to the future of the industry.

Twenty-five years ago Maria Mills-Farinas’ first taste of the timeshare industry was working at a small resort near Newquay, the surfers’ paradise on Cornwall’s west coast. Today she and husband Peter Mills run one of Europe’s leading timeshare resale brokerage, Travel and Leisure Group from the company’s head office in Sudbury. The Group’s global operations include a property investment company in London and a number of international affiliates, advising timeshare buyers and sellers all over the world. It’s an astonishing success story by any standards; more so within such a competitive industry.

Fiona Klonarides meets the woman behind the business and discovers Maria Mills-Farinas is as passionate about the industry today as she has ever been.

Travel and Leisure (www.travelandleisuregroup.com) is a member of RDO (formerly OTE), ARDA and TATOC. In addition to its head office in the UK the Group has a presence in France, Germany, Scandinavia, Portugal, Romania, Estonia, and Singapore as well as its own in-house department for Spain and Italy.

How did you and your family get into the timeshare industry originally?

I started at Carvynick Cottages in Cornwall and then ran Clovelly Golf & Country Club for seven years and there I got involved with the resale side of Timeshare. It made me very aware of the developers’ side of the business and how the secondary market should integrate with new sales at the resort. My husband has twenty years’ experience in
sales and administration and he oversees the legal and financial divisions of our business, so I’m very fortunate that he can take care of that side of things. I’d always felt there was a need for a reliable, independent international resale
brokerage, offering buyers and sellers from all over the world secure transactions and peace of mind, knowing their money and ownership documents are safe in solicitors’ hands. We wanted to build a truly international company,
with professional multi-lingual staff, that people could trust to take care of their resale needs.

You’ve come a long way since Travel and Leisure was launched in 1992 and you personally have been in the industry since 1985. You’re currently running a major advertising campaign on SKY News, Channel 4 and The Discovery and Travel Channel – how’s that going?

We always look for ways to improve and expand our business. As you know, the resale market isn’t an easy one and with timeshare things can get stale. What we found was that our press ads and presence in holiday publications (British Airways, Choice Villas and golf magazines) were bringing us the same kind of clients so we decided to take a big step into TV advertising. It’s a big investment but it means we can bring a different awareness to a new audience, through new media channels, and we’re really excited about it.

The Travel and Leisure ads get major daytime coverage – on Sky News, Channel 4, More 4, Discovery, Travel Channel and National Geographic. We’re getting enquiries from a new demographic and I’m confident this will
widen our coverage and bring more sales for our sellers. Our eBay shops in the UK and overseas also do very well, covering around 30 international markets and bring us more buyers from all over the world.

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How do you reach consumers via your website?

Although we have a physical presence in 9 countries, our website is our first priority. We’ve concentrated heavily on developing our site in the 7 countries with the largest audience, so that owners’ properties will be seen by millions of potential buyers. We are investing in the areas of SEO and PPC, with a specialist in-house web marketing team driving the website to gain maximum exposure. We’re doing extremely well on Google, Yahoo and MSN and have visitors from over 150 countries. With 2 million visits per month and over 4 million page views, www.
travelandleisuregroup.com is a vital part of our business and we will continue to develop it.

Could you highlight the benefits of using Travel and Leisure for resales, especially in the current economic climate?

The public, generally, is aware of the advantages of timeshare and fractional ownership and the image has changed in recent years thanks to the big names like Marriott, Hilton, Starwood and Hyatt vacation ownership. Travel and Leisure is fortunate to have a large portfolio of high quality resorts from the best companies, and families are
realising more and more that this sort of holiday offers not only huge savings, but an overall luxury holiday experience at a more affordable price than paying for a package holiday or hotel stay.

Consumers can see the real savings for themselves by comparing the price of timeshare with the deluxe units, or suites, available on a package (our website has a good example of those savings if you look at the Timeshare & Resales section: “Typical Timeshare v. Hotel”).

In resales, the credit crunch is reflected in some owners having to cut down on holidays, and the issue of maintenance fee increases (due to pound-euro fluctuations). Some owners have had to sell because they just couldn’t afford it despite all the advantages.

On the other hand buyers, who have been getting low or almost non-existent interest rates on their savings recently, have been purchasing timeshare to benefit from the “better value for money” it offers when it comes to accommodation and amenities. Plus, of course, they have the added benefit of freezing the cost of their accommodation for years to come.

We have a no-pressure resale service and that’s important. Buyers have time to think about it in the comfort of their own home, there’s no cold calling or invitations to buy so they never feel under pressure. They can choose what suits them and they are in control.

I think the fact that we do conveyancing for them, so that their monies are safe in legal hands, is also a huge benefit. Before the crunch our buyers never required finance. Now our association with Barclays Finance allows us to offer buyers a club card, six month interest-free financing, so they can buy today and pay nothing for six months and Barclays partner finance takes care of everything. Our buy now, pay later financing has been very successful.

Travel and Leisure Group has its own Members Club. What does it offer?

One of the concerns timeshare buyers have is that once they’ve bought, they think they’re on their own, unlike a package deal holiday where you are looked after and things are arranged for you. When you buy or sell through Travel and Leisure you get automatic membership of the Travel and Leisure Club. enefits include 5% trade discounts on any timeshare purchase, assistance with RCI / II / DAE enrolments, exchanges, rentals, bonus weeks and special offers. Our club just offers our clients that bit extra, to make them more comfortable with their purchase. Other
advantages include low priced flights, the best possible discounts on cruises, ferries, travel insurance, weekend breaks anywhere in the world, London Theatre Breaks – we have a last minute availability Hotline and we can help with tailor-made holidays to unusual destinations.

Credibility plays a crucial role in the vacation ownership industry and more so in European markets. Could you elaborate on this?

For 17 years we have been members of the major timeshare organisations, initially with the Timeshare Council, then we joined the OTE, who are now the RDO (“Resort Development Organisation”) and we are bound by the RDO’s
very strict code of ethics. Furthermore, we’re members of ARDA in the USA, and TATOC and we are also a member of the Chamber of Commerce, which is most important for our business in foreign countries.

We value our membership of these organisations highly – for us it’s a privilege – and at the same time consumers feel protected and secure doing business with us. The RDO does a lot of work promoting the image of timeshare throughout Europe, something Travel & Leisure Group feels very strongly about and we are happy to contribute as much as possible. TATOC is a very efficient Timeshare Association which assists timeshare owners and consumers in general, which we support in any way we can.

I believe it’s imperative for consumers to be very careful when they decide to buy or sell timeshare on the resale market and RDO and TATOC both give them that assurance, which is vital especially if business is not “face
to face” which is mostly our case. Unethical resale companies seem to be appearing from everywhere and nowhere – and harassing owners, usually by phone with exceptionally seductive offers – offers that no owner can refuse! To combat this, TATOC has recently established a help line for consumers (0845 2302430) designed to provide information and assistance regarding resale rogue companies. The OFT (Office of Fair Trading) is also working
in co-operation with partner organisations in European countries, asking consumers to contact them to report rogue companies. So, yes, credibility is crucial in this industry.

Who is your typical client, if there is one?

Just like an estate agent we’re approached by both buyers and sellers and under no circumstances do we cold call because clients should feel at ease and in control of their decision.

Our resale clients are in full control throughout the process and they generally tend to be knowledgeable about the product. It’s important to remember that statistics show approximately 85% of timeshare owners are happy, which
in any industry is a high satisfaction rate. We find most of our sellers need to dispose of property because of a personal change of circumstances, usually because of their age or inability to use, death, or arrears of maintenance
fees. Or maybe they have been owners for so many years they just want a change and they know they will have to accept a drop in price if they want to resell quicker.

We advertise owners properties through various media and most recently on TV, so buyers call us and our job is to match buyers requirements with sellers stock on our database. Most buyers are knowledgeable and are expecting to find a “bargain”. Our clients come to us because they prefer to take their own time to make up their minds and a resale broker offers a wider choice of resorts. As we are totally independent, not tied to a resort or destination we are able to advise what’s best to suit their requirements and their budget. Part of our full service is the complete transfer of ownership and our inhouse conveyancing is unparalleled, with 14 days cooling off, no worries, and all monies in escrow in solicitors’ hands. Clients from abroad can be very nervous and need full guarantees, and we
have even sent staff to travel abroad to be with one of the parties when signing the transfer of an Escritura at the Notary Public in Italy, for example.

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You have offices in Oslo as well as other locations – why is this?

The Scandinavian market is a very strong one. Northern Europeans need to escape the long winter – especially Scandinavians – and they are very keen on high quality timeshare properties. They enjoy the extra spending
power they have in winter sun destinations such as the Canaries and Portugal, they’re aware of the advantages vacation ownership offers and are very comfortable with timeshare. So we have a lot of clients keen to spend their
holiday weeks in the sun when back home the nights are dark and long and their driveways are covered in snow!

If you could sum it up, what do you think are the main reasons for your success in this competitive industry?

I would say international coverage for one. The advantage of selling abroad is that we can get much higher prices for our sellers. In the UK buyers are looking for more realistic prices. We’ve held presentations in many countries for
10 years but now through the internet we are well known abroad and sellers and buyers come to us from all different countries. A large percentage of our resale transactions include a foreign party.

Travel & Leisure Group places an emphasis in getting clients to visit us in our offices, so they can see we really are a long-established organisation and they feel comfortable doing business with us.

Both Peter and I and our staff genuinely believe in the product. We don’t want to see it depreciated and we strive to get the highest prices for owners.

Our customer service is first class. The majority of our staff have been with Travel and Leisure Group for many years. They’re knowledgeable in resales and timeshare and well trained in customer care because the customer comes first. We specialise in in-house conveyancing and as I’ve mentioned previously that’s a huge plus for our clients who know their money is in safe hands.

Another factor is undoubtedly the fact that we are totally independent so we can offer impartial advice, backed by the assurance that we are members of the RDO, ARDA, TATOC and the Chamber of Commerce.
I like to think we’re renowned for our quality of service. Buyers are happy to pay more because at the end of the day, you get what you pay for!

If you hadn’t entered the timeshare business, what else would you have liked to do instead?

Both my husband and I intended to retire early in life. Neither of us owned our own business as our backgrounds were working for large, multinational companies until timeshare came into our lives. When we started Travel &
Leisure Group in 1992 it was just five of us and at the time we never thought it would be much bigger.

But we got more and more attached to timeshare and we could see the company prosper.

Sometimes I dream about retiring but it’s my passion for timeshare that does not allow me particularly to “let go”, even though we’re both now in our sixties. We have a legitimate organisation with a high profile and I’m proud
of that. And that’s reflected by the testimonials we get from clients. Really, our dream came true and I don’t want to let it go – but perhaps if I could change things I would have liked to have continued running a timeshare resort
rather than resale firm. I loved the owners, the site maintenance, the entertainment, the guests on exchange and it made me always very happy to make them happy!

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For more information about Travel & Leisure Group call 0800 988 7169, logon to www. travelandleisuregroup.com or visit our Head Office at TALAS House, 47-48 Ballingdon Street, Sudbury, Suffolk CO10 2BX

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