Philippe Myer's blog

Starwood CEO Says Rising Gas Prices Are Good

Frits Van Paasschen, the CEO of Starwood Hotels, says that rising gas prices shows the U.S. economy is re-gaining strength and that timeshare and lodging/ resort demand is also growing, going against some experts’ estimates.

A weakening dollar along with Iranian unrest and a rising price of Brent crude oil has led to a decrease in American spending overall, including domestic tourism. China’s tourist numbers are growing as ours are decreasing. Markets are expanding in Africa, even including timeshares sold by resorts. It’s generally understood that the “depression” is mostly based in the West and Europe.  Emerging Asian and African markets are offsetting European and American losses. Even South America is enjoying a better worldwide image and more tourists as a result.

"As we look at occupancy, not just in North America but around the world, it's quite strong today," van Paasschen said on March 20^th.

China is moving towards a more capitalist state. The Chinese government has stated that boosting consumer demand is a key priority this year. They are allowing companies such as Starwood to develop in their country like never before.

 

Istanbul Top

Turkey’s pull as a tourist destination lies in its geographical as well as historical location. It’s one of the oldest continually inhabited regions in the world, and home to such world famous historical locations as the city of Troy and the Ottoman Empire. The art and culture include works critical to both Islamic and Christian faiths. Elements of both remain.

Today, you can enjoy Ottoman-era bathhouses and modern nightclubs. Istanbul is also home to world-class museums and restaurants.

Topkapi Palace, in the heart of Istanbul, offers a bathhouse and a beautiful view of both sides of the Turkish capital, sitting squarely on the Sea of Marmara. Construction began in the 1460s, and it served as a palace for 400 years before becoming a museum in 1924.

Culturally, Turkey is open to progressive Western ideals but maintains a dictator-like prosecution of public protests and journalists who write unfavorable reviews of politicians or the military.

Istanbul is full of popular bars with modern accommodations. The Sultan Pub in Sultanahmet offers American alcohol and Western-style dancing.

 

 

 

Rising Fuel Prices Are Changing Business Practices

 

Fuel prices are affecting business in various ways. Some businesses are forcing their employees to take webinars on how to get the best flight deal. Industry experts maintain that they can save 10-15% this way. Traveling salesmen are being asked to cut down on their driving by a third.

Travel by either car or plane is crucial to most businesses. As the national average for a gallon of gas rose to $3.80, businesses are actually looking elsewhere before cutting their travel budgets. Less travel can mean less customers and less growth.

Business travelers are renting vehicles with better gas mileage. They’re also staying in cheaper hotels than in the past. Cargo companies are leaving their fleets at home and renting trucks from pick-up locations. And businesses are encouraging their workers to do as many things electronically as possible.

"All of our travelers are encouraged to try to do something electronic, whether that means something as simple as a phone call or a webinar, or to go to more electronic meetings," says Bernie Velasquez, a construction company manager from Peachtree City, Georgia.

Saving a few dollars on fuel can cost a business much more in the end. "Cutting back on travel is not going to happen,” says Roger Sorensen, an engineer in Texas. "It's how we make our money."

Is a Hedge Fund right for you?

Ray Dalio made $3 billion last year.

Known as mutual funds for the super-rich, the reputation of the hedge fund is taking a major dive. More people are investing in hedge funds than ever before, with the industry’s total sitting at a robust $2 trillion in assets in 2010. Hedge funds specializing in equities fell by 8%; the average hedge fund lost 5% of its value. Investor John Paulson’s clients lost $10 billion. All while the S&P 500 actually gained.

 

Ray Dalio did the best last year. He earned $3 billion in 2011, to go along with his $120 billion in assets. He put stock in German and American bonds, and he increased his returns in the 20% range. The nation's top three hedge fund investors all had returns of over $2 billion, but they are in a minority.

 

Hedge funds aren’t accessible to everyone. Investors must have a net worth of at least $1 million and all earn a certain amount of money annually. The initial investment has to stay in the fund for at least a year; no provisions are made for taking it out early. They are not regulated by the U.S. government, but this is a blessing for intelligent investors, who have more flexibility in their investment strategies.

 

If you have the initial investment, you need around $15,000, business/investment knowledge and the ambition of an entrepreneur.  Experts in the field of finance have left behind restrictive mutual funds for the bigger returns found in hedge funds. But as the old saying goes, “It takes money to make money.” Don’t be surprised to see your entire investment go to waste, depending on the actions of your hedge fund custodian.

 

Hedge fund management is a risky investment, but at least it's not a bad one. Timeshares, on the other hand, will never accrue value, and who wants to vacation in the same place every year? Let Transfer Smart transfer your timeshare resort or hotel title out of your name and stop those yearly fees on something you weren't sure you wanted in the first place.

 

The Global Soap Project

Ever wonder what happens to that leftover soap you leave at the hotel? It’s now being used by Ugandan humanitarians to save lives.

Derreck Kayongo visited a Philadelphia area hotel in the early 90’s and was shocked to find the amount of soap he found in his hotel room that was leftover. "When i checked into the hotel, there were 3 bars of soap - there was body soap, hand soap and face soap and that did not include the shampoos - and so for me that was a new experience, I was thinking to myself, "why do they have soap for every part of their bodies?" Kayongo recalls.

When enquiring about the future of the leftover soap with hotel management, he was surprised to find that it’s all discarded. "Now, my goodness,” he said. “Why would you throw away such a resource?"

What is unquestionably trash to the common American would be lifesaving treasure in Mr. Kayongo’s native country of Uganda and many parts of Africa as a whole. So he started the Global Soap Project, a non-profit organization (NPO) that reprocesses used hotel and resort soaps and turns them into new bars for nations that need them, such as Uganda, Kenya, Haiti and Swaziland.

In a place where something as simple as a case of diarrhea is a killer of thousands, the reprocessed soap is literally saving lives. It is tested by American labs for pathogens and if determined safe, shipped off to a plant to be constituted into new bars, and then shipped to needy countries. Mr. Kayongo himself delivered 5,000 soap bars to an orphanage in Kenya.

Mr. Kayongo considers his venture destiny. While born in Africa, he was schooled in America and the son of a soap maker. He is glad he can do so much for his countrymen. And his NPO is only getting bigger. "We are seeing an uptick of the number of hotels that are registering with us," he says. "We are seeing a lot of volunteers coming to work with us, so there is a lot of traffic happening right now for us and that is going to help us make more soap."

"If you want to do big things and you want to bring big change then you have to be able to give in a big way," he says.

"So I say 'travel, use the soap' because that soap goes eventually to help refugees, orphans. This is not about Africa per se, it's about the collective good as humans to solve problems and that's what we are trying to do."

 

 

Senegal’s Authored Revolution

Senegal's countryside during the rainy season.

Young Senegalese are revolting against the government in droves as journalists and hip hop artists capture the breath of a nation together.

In despotic, war torn Senegal, two unlikely forces are combining to shed a light on poverty and a lack of urban progress: journalists and rappers.

Recently a power outage lasting days hit Senegal’s capital city. The rap artists here began a movement called “Y’En a Marre,” which is French for “Enough is enough.” Senegal isn’t used to much tourism, or people vacationing at its poorly equipped resorts.

From the protests over the days-long blackout, the movement held a voter registration drive. They wish the ouster of President Abdoulaye Wade, a man who has far outlived the average age in Senegal of 19. They’ve created a song that has garnered hundreds of thousands of views on Youtube, where many of the rappers put their forearms together in an “X” as a statement of displeasure with President Wade.

Despite the President’s unpopularity, he will most likely be elected for a third term. But Senegal’s youth movement will not go away either, paving the way for healthy debate and possibly a young star to lead Senegal in the future.

Purchasing timeshares in Senegal may be a risky investment. We can transfer a contract out of your name if you do. 

Irish Youth Flee As Unemployment Rate Soars

   

The Temple Bar, Dublin.

 

Young Irish are fleeing the small nation as the unemployment rate has stayed at 14% and continues to climb. Since the country’s bailout in November 2010, employers have cut jobs.

Irish plight in the Eurozone has gone largely unnoticed due to the chaos in Greece and Portugal. Exports grew by 3.8% last year, but some of the country’s largest employers have said they will cut jobs throughout the year.

Real estate, just like in the United States, was a large contributor to Ireland’s economic collapse. Young graduates can’t find jobs, as competition is fierce, and employers can afford to be choosy. People want to work, but there just aren’t jobs for them.

The Irish government is beginning to offer loans and low interest rates to small businesses in order to encourage growth. They also are revamping their unemployment benefits program, to help those out of a job the longest find jobs again. Unfortunately, the Irish middle class are bracing for a year of what could be exceptional hardship.

 

Myanmar Opens Up to Western Tourism

 

Many political have occurred recently for Myanmar, one of the most isolated countries in Asia. Twenty years of sanctions and fifty years of military rule ended last year. During the World Economic Forum last year in Switzerland, both Marriott International and Starwood Hotels and Resorts stated their desire to open hotels in the country.

Myanmar is hugely underdeveloped, has a deprived economy and an infrastructure decades behind its neighbors. Precious few five-star hotels exist throughout the country, and all are backed by small local chains. It’s like Vietnam was twenty years ago, or how Cuba may be in the near future. It’s rich, interesting and exotic, with golden temples and cultural sites unblemished by rapid development seen elsewhere in Asia. Its southeastern neighbor, Thailand, has more than 4,000 hotels and resorts. They attracted 19 million visitors next year. Myanmar was only visited by 424,000 people from April 2010 to March 2011.

Sanctions placed on the country by both Europe and the United States, coupled with years of mismanaged finances by changing military governments, have devastated the economy. A third of the country's workforce earns only a few US dollars each month. The fact that the country is behind economically is very attractive to both tourists and the resorts that would serve them.

"I think it's time for people like us to look at Burma," said Vasant Prabhu, vice chairman and Chief Financial Officer of Starwood Hotels & Resorts. 

"It's a beautiful country," says Nancy Johnson, vice president of development for Carlson Hotels. "If there's an opportunity to go there, we will be there."

 Transfer Smart can get you out of a unwanted timeshare contract, even if it’s in Myanmar. Contact us today.

 

Timeshare Vacation Safety in Colorado

With the ski season now upon us, hotspot Vail Colorado is looking for a way to keep its visitors safe. On the Friday before Christmas, Vail Resorts launched a new safety initiative called “Play It Safe, Play All Season.”

Neighboring Beaver Creek has already put up signs with the slogan and received positive feedback from the move. Signs remind skiers and riders to “Be smart, pay attention,” “check your blind spots,” “look before you go” and “merge with care.”

“Play It Safe, Play All Season” is not only a reminder that patrons should take care not to take part in dangerous activity, but a warning that those who don’t play it can lose their season passes and not be allowed to ski at all.

The strategy for increased safety this year has come straight from the top of two of Eagle County’s most popular resorts, Vail Mountain Chief Operating Officer Chris Jarnot and Beaver Creek Chief Operating Officer Doug Lovell wrote a letter to Vail’s local newspaper to spread the word. Included was a “Responsibility Code,” which references the Colorado Ski Safety Act. That seven page state document includes a law similar to the vehicular hit-and-run law: “no skier involved in a collision with another skier or person in which an injury results shall leave the vicinity of the collision before giving his or her name and current address to an employee of the ski area operator or a member of the ski patrol, except for the purpose of securing aid for a person injured in the collision.” The letter continues: “We're all in this together, and while everyone is ultimately responsible for their actions, we feel it is our responsibility to help facilitate a safer environment for skiing and snowboarding and to continue educating both our guests and employees about slope safety.”

Local Vail Yellow Jacket Kate Kinas, a member of Vail’s dedicated mountain safety crew, says the signs are working. “People are more aware,” she said.

Transfer Smart offers a safe way out of your timeshare contract. Call them today at 866-906-4494, and transfer your timeshare title today.

 

Breadfruit- Plentiful and... Not So Amazing?

In a time where starvation and hunger is a worldwide issue, a small group of entrepreneurs in Hawaii believe they have a solution. The breadfruit tree produces a fruit that is high in nutrients and calories, and grows in hot climates. It is also one of the world’s highest yielding fruit trees. The only problem is it tastes terrible.
“Like undercooked potatoes,” says Diane Ragone, a Kauai horticulturist.
But some believe it could feed villages, if only people would develop a taste for it. With this in mind, a group based out of Captain Cook, Hawaii organized the first ever Breadfruit Festival, inviting cooks from all over the world to come up with different dishes and generate interest and publicity for the maligned fruit, a member of the fig family.
Dishes served included breadfruit quiche, breadfruit pancakes, breadfruit tamales and of course, breadfruit bread. Festival attendees found new ways to boil, mash, steam, roast and pickle breadfruit. This left contestants excited about the future of breadfruit.
"I feel it's the food of the future," says Olelo pa'a Faith Ogawa, a Hawaii-born private chef. "If I were to speak to the breadfruit spirit, it would tell me: 'Grow me! Eat me! I can feed villages!’"

Only time will tell if mainlanders and the rest of the world will get as excited about breadfruit.