Timeshare Broker Beat

What do major timeshare mogul, David Siegel, and independent film festival Sundance have in common? One massive lawsuit, that's what.

Reuters reports that David Siegel, owner of Westgate Resorts, has filed a $75,000 lawsuit against filmmaker Lauren Greenfield and against Sundance Film Festival for defamation of character over a film (enttiled the "Queen of Versailles") depicting Siegel's timeshare business as faltering.

Promoted as a "rags-to-riches-to-rags" story that centers on the "innate virtues and flaws of the American Dream," the film depicts a filmmaker's proposal (in 2007) to document his construction of Siegel's opulent 90,000-square-foot mansion (what was to be the nation's largest family home) that today remains unfinished and up for sale (going for a clean $75 million) in 2010.

Will your timeshare save you even more this year? According to MSNBC, ConTech Construction and Travel & Leisure, 2012 may be the year of the timeshare makeover. Restoration projects by ConTech Construction are set to save owners at the Royal Floridian Resort in Ormond Beach, FL thousands in maintenance fees. The project was so successful, it was named the 2011 “Project of the Year” by the International Concrete Repair Institute; the first time a timeshare has ever won this award.

Perspective Magazine reports:
Since the renovation, the resort’s rental revenues have experienced a 22 percent increase generating $52,000 over budgeted revenues. The electricity consumption has decreased by 25 percent, corresponding to $40,000 savings in only 9-months. The association hospitality expenses (guest compensation for problems related to the resort amenities) have decreased by 50 percent compared to 2009.  Maintenance payroll also decreased by 24%, due to fewer problems and service calls from guests. Read the full article here.