For 10 years, the Vacation Ownership Investment Conference has attracted everyone from industry veterans and developers to lenders, investors, and prospective entrants with its full schedule of talks, panels, workshops, and networking opportunities.

This year’s event in Orlando, Florida, was no exception. Delegates gathered at the Peabody Hotel from October 6 to 9 to attend the conference. Given that the dates coincided with Wall Street’s worst week in history, it was no surprise that the talk centered on the global credit crisis and its impact. Yet the elephant in the living room notwithstanding, it was the “golden goose” that inspired optimism among the attendees.

Despite gloomy financial skies that week, the celebrated Peabody ducks paraded out for their daily fountain swim, and conference speakers talked of trends that portended well for the outlook of timesharing. Jean-Claude Baumgarten, president of the World Travel and Tourism Council and featured opening speaker, told the crowd, “We are in a world that has a lot of clouds at the moment, but we should not ignore the fact that there are also positive trends in the medium to long-term.”

Among the positives Baumgarten highlighted was the desire to travel: “Believe it or not, people are going to go on vacation. They will want to use their disposable income to ‘get the hell out of here’ to somewhere nice.”

Baumgarten cautioned, however, that governments may turn to taxing tourism — or, as he described it, the “goose that lays the golden egg.” He explained: “Ten percent of the world gross domestic product is created by tourism and travel. As we are growing quickly as an industry, we are attractive to treasuries because of that, and we could face additional taxation. So we’re asking governments, please don’t overload the goose that lays the golden eggs. Let the goose fly.”

Baumgarten’s guarded confidence was echoed by other participants. As part of a panel titled “The Big Picture: Trends in the Hospitality Industry,” Howard Nusbaum, president and chief executive officer of the American Resort Development Association (ARDA) said that timesharing can weather the current crisis, as it provides opportunities for families to enjoy their vacations with greater flexibility than conventional accommodations. “How many people would like to eat out with small children 21 times in 7 days?” he challenged. “There are millions of people who are eager to vacation ­better. Our product allows them to do that, and at the cost of a modest automobile. I have total confidence in our industry’s ability to market through a downturn.”       

On the same panel, Scott Berman, principal and U.S. industry leader for Pricewaterhouse­Coopers’ hospitality and leisure consulting practice, said, “Leisure companies are hoping that timeshare will save the day as it did post-9/11.” Berman noted, however, that of 2007 sales, approximately 76 percent were financed by timeshare groups, with the remainder paid for in cash — a figure that could be cut in restricted credit markets.

Presenting the keynote address was Peter C. Yesawich, Ph. D., chairman and chief executive officer of Ypartnership. Referring to information garnered from the 2008 National Leisure Travel MONITORSM and the Future Timeshare Buyers: 2008 Market Profile, he told delegates that travel with children has grown in the past few years, reflecting a change in values away from the acquisition of wealth and toward the family.

Yesawich also pointed to opportunity in multi-generational travel. “Thirty-eight percent of leisure travelers are grandparents, and 27 percent took at least one vacation a year with grandchildren.” 

On the second day of the conference, Yesawich further explored the economic climate as moderator of the “Meet the Leaders” panel, which included Ron Goldberg, president of Wellington Financial Corp.; Steve Weisz, president of Marriott Vacation Club International; Stephen Rushmore, president of HVS Inter­­national; Ken Chupinsky, chief financial officer of Consolidated Resorts, Inc; and Craig M. Nash, chairman and chief executive officer of Interval Leisure Group.

Goldberg emphasized that while financing will be available, “There will be an even greater distinction between existing borrowers and new borrowers. Finance companies will take care of their existing customer base with a proven track record, and then look at other potential borrowers with highly successful track records.”

Nash noted, “These times are unprecedented and something we are going to have to weather. On the international side, we are still seeing resorts being developed, particularly in markets such as Mexico, and we are hopeful that the domestic economy will turn around. Timesharing has been resilient and people still buy. Sales have been great in comparison to many other businesses in this downturn.”

Weisz expressed similar optimism: “We are in this for the long-run and still believe as a company that timeshare with a hotel is a nice complement to weather the storms.”

Rushmore commented, “If you have the capital, now’s the time to get in. When we do come out of this … when you add in all the internatio­nal travelers, such as those from China and India, who will be coming to the U.S., it all makes for a strong recovery.”

Special guest speaker was researcher Cam Marston, who enlightened the audience with his presentation, “Selling Across the Generations.” Adapting information gained from more than a decade studying generational biases, Marston put forward the importance of reaching beyond product understanding to buyer understanding through four broad profiles: Matures, born in 1945 or before; Baby Boomers, born between 1946 and 1964; Gen Xers, born between 1965 and 1979; and Millennials, born between 1980 and 2000.

The conference featured a two-day agenda packed with learning sessions covering topics from finance to marketing. The subject of fractional ownership was a big one, touched on in several of the workshops and with two dedicated sessions, “Fractionals and Private Residence Clubs” and “Fractional Finance.”

Also attending was one of the largest media delegations ever, with 23 representatives from the U.S., Canadian, Caribbean, and U.K. media. In addition to workshops and presentations, the schedule included plenty of networking opportunities, from a golf competition to receptions to resort tours of nearby Florida timeshare properties.