Vacatia's CEO on Bloomberg TV
Earlier this week, Bloomberg Television interviewed Vacatia’s CEO, Keith Cox via “Bloomberg West.” The conversation, hosted by Cory Johnson, presented an opportunity for us to share our vision for the timeshare industry.
We’re in the midst of an online revolution that blends crowdsourcing with e-commerce. Platforms, such as Airbnb, StubHub and a multitude of rideshare apps, offer very specific services to empower both customers and sellers. They create a marketplace for a product that would have otherwise not existed, or else lacked transparency.
But, where does Vacatia fit in? What do we bring to the timeshare industry?
At the most fundamental level, we complete the market.
As Cox explains, we want to help “people who own their timeshares and have enjoyed them for many, many years, but haven’t had an easy way to get out of their timeshare when they’re done using it.” We seek to provide “liquidity and an exit solution” for the 8 million timeshare owners of America.
There are plenty of ways to buy a timeshare, but many fewer trusted outlets to sell your timeshare. Most of the current resale sites charge upfront to sell, and don’t guarantee anything about what you’re actually buying. At Vacatia, we offer over 10,000 listings on our site, many of which have been reviewed and confirmed individually by our staff. We foster a secure and safe closing process for buyers and sellers.
Our approach is cooperative. We work with all parties, rather than just the sellers, buyers or developers. “We’re there to serve the entire industry, and the sellers, by delivering transparency in a way that has not been delivered to this marketplace in the past,” said Cox. And this is how we differ from Airbnb and real estate platforms such as Zillow.
We are working with not just individual timeshare owners, but the brands themselves. “We’re dealing with resorts that are managed by Marriott and Disney, Hilton and Hyatt.” That means our inventory is “serviced to a brand standard.” We bring this commitment of high quality to our platform.
So where are we headed?
Over the next few months “we will launch with rentals.” We acknowledge that not all timeshares will sell immediately. And so, as Cox put it, we will be providing “on demand capability” for our users “to leverage this excess inventory.” With rentals, we will give our users a way to pay maintenance fees and earn a little extra. No one should be losing money on a timeshare that they aren’t using.
We would like to thank Bloomberg Television for giving us this wonderful opportunity to share our mission. We are honored to be part of the solution.
To see the full interview, follow this link: http://www.bloomberg.com/video/shaking-up-the-timeshare-industry-marketplace-IPHfRLV3TwWGstUKuxraKg.html