Philippe Myer's blog

Timeshare Resort King Wynn Invests in China | Transfer Smart

Las Vegas Casino king Steve Wynn of Wynn Resorts already has the most profitable casino in the former portugese colony of Macau on the coast of China.

Conservative Chinese government is against gambling, but there have been pushes by western investors such as Wynn and other billionaire developers like Sheldon Adelson to bring casinos inland.  Chinese people are able to participate in state-run lotteries and small, subversive online sports waging. But there is a movement to bring casinos into the heart of China, into major cities like Shenyang and Shanghai in the north, or even Beijing.

The profits in Macau have been undeniable. The cities casinos took in $33.5 billion in 2011, and Wynn’s Macau casino now makes up 69% of his company’s revenue, even though only 30% of its assets are there. Gambling is officially illegal in China, but like Native American reservations in the United States, historical factors have led to a kind of grey area for casino investors.

Mr. Wynn is doing his best to be a patron of the Chinese people. He paid $10 million for a Hongwu-era vase which he donated to the Macau government. He donated $135 million to the University of Macau last year, the largest single donation ever given to a Chinese university.

One challenger to Mr. Wynn is the man who has made more money than any other American over the last three years, Sheldon Adelson. He went from having “just” $3 billion in 2009 to $28 billion today. Mr. Adelson is a timeshare, resort, hotel tycoon in his own right, going from lower-class New Englander to world developer by buying condominiums in Massachusetts, developing them into hotels, and eventually getting into the casino business with his Las Vegas Sands corporation.

Today, he owns half of the casino contracts in Singapore, and Merril Lynch has forecast that Singapore’s two casinos will be more profitable than all of Las Vegas’ combined.Adelson beat Wynn to Macau’s money first, debuting the Sands Macao in 2004, two years before the Wynn Macau.Neither man should lose money on their projects in the long run. But the development of the auto industry, the gaming industry, and tourism both to China and by its people into Europe, the Americas and beyond do mean the Chinese economy is gearing up to be tops in the world.

To answer your questions about selling or giving away your timeshare, contact the Transfer Smart timeshare experts.

 

 

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."

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.