The new programs are designed to ease the transition of long-time owners out of their “perpetual” timeshare and as well as attract new consumers seeking the benefits of timeshare ownership without the burden of increasing maintenance fees or the hassles of resale. TARS’ programs are also intended to assist legacy resorts in planning for either continued use as a timeshare property or for an alternative use pursuant to an organized repurposing plan.
In addition, TARS announced acquisition of a significant interest in the company by Liberté Management Group of the Pinellas Islands, Inc. TARS will operate as a subsidiary of Liberté and will be jointly headquartered in Treasure Island, Florida.
Dennis F. DiTinno, who is CEO and President of the Liberté Management Group of Companies, and who will serve as Chairman of TARS overseeing the close interaction between TARS and Liberté said, “As a manager of legacy resorts, my commitment has been to work toward a robust resale market to benefit older resorts and their owners, particularly those resorts fighting to remain financially stable and relevant.”
“I sincerely believe that what we are doing is to provide ‘out of the box’ concepts… in one simple solution. TARS will help these sold-out resorts find new owners to enjoy their products and services. I am excited to join with Marty and to devise innovative ways to fight for and protect the resort associations and owners upon whom the timeshare industry was originally built,” DiTinno continued.
to TARS President and General Counsel, Martin M. Kandel, the new plan,
called Limited Term/Unlimited Fun, allows consumers to enjoy all
the “pros” of traditional timeshare, with none of the “cons.”
Martin M. Kandel and Dennis F. DiTinno
“Our program allows legacy owners to safely trade-in their existing traditional timeshare and purchase a limited 5-year term deeded timeshare at their resort,” Kandel said. “Legacy owners will continue to be able to enjoy their resort and unit every year of the term, or they may rent or exchange it as they do in a traditional timeshare. However,|–|the primary difference is – they will no longer be billed any maintenance fees during the entire five-year timeframe, which terminates by going back to the resort with no further obligation. There are no worries about resales or fraudulent transfer and exit companies; and the HOA’s have a systematic and controllable, and scalable means to make certain all of their intervals are paying intervals.”
In addition to the Limited Term/Unlimited Fun plan, and in conjunction with select strategic partners, TARS will provide an à la carte menu of products and enhanced services designed exclusively for the legacy market segment. TARS will target self-managed resorts, existing HOA management companies and individuals for whom timeshare is no longer a viable option.
Liberté Management Group