This month’s featured company profile is on a new timeshare exchange company called TIMEX. We sat down with CEO Ronald Evans to find out a little more about TIMEX and what they offer to the timeshare community. Mr. Evans is a timeshare owner and industry expert. When we reviewed TIMEX in April, they had over 3240 resorts in their system. You can find TIMEX online at http://www.timex.to
TAM - What was your motivation in creating TIMEX?
RE - Well I am a timeshare owner myself and I believe that timesharing could be a more rewarding experience than it currently is. The idea of timesharing is fine; it is just that some of the practices which have grown up around it have rather spoiled it for some. Gift Certificates for example are an insult to owners. An owner should be able to do anything he or she likes with what is their personal property - without having to pay some extraneous party for the privilege.
TAM - TIMEX appears to be a unique and cost effective solution to other exchange companies that operate in the timeshare industry.
RE - What we set out to do is to use the power of modern computing, the convenience of the Internet and the do-it-yourself spirit which appeals to some of us. We do not charge membership fees or gift certificates; just a very very low cost for the use of our facility.
TAM - Are there any services or programs that your company plans on introducing this year or in 2005?
RE- Yes, we will plan to offer Timex Presentation Weeks and Timex Bargain Weeks to our users very soon. A Timex Presentation Week will be a week requiring attendance at a timeshare presentation and a Timex Bargain Week will not. Rentals for both sorts of weeks will be different and will be related to the maintenance fees paid by owners at the resort.
TAM - How do you plan to position your company against your competitors?
RE - We exist only on the Internet so we are not in direct competition with the existing exchange companies. We are having negotiations with several parties around the world which will enable non-English speakers to benefit from very cheap exchanges. These intermediaries will be legally and financially independent of Timex but they will be the way in which timeshare owners can have full global access to each others resorts.
TAM - How do you envision the industry over the next 5 years and what impact will TIMEX and other exchange companies have on timeshare ownership?
RE - China is likely to be a very large player in the timeshare industry as soon as the legal framework is settled. We, Timex that is, are already in the process of setting up a local presence in China. We hope to be fully operational before the boom in ownership occurs.
It is very well known and acknowledged in the industry that exchanging into other resorts is the single most appealing thing about timeshare ownership.
TAM - Will TIMEX expand into Fractional Ownership programs or any other hybrid of timeshare products?
RE- We already have. Timex is really only a facility to bring timeshare owners together so that they can do whatever deals they like. We have owners trading two bedroom apartments in the low season for one bedroom apartments in the high season; we have traditional timeshare owners trading with owners of points. Whatever owners decide for themselves is fine with us. Maximum flexibility and freedom of action have always been features of our service.
TAM- How can a timeshare owner be certain that another owner will abide by the program if an exchange is agreed upon?
RE - That is easy: bookings are confirmed by the exchangers, usually by email, directly with the resorts concerned. We have never had any problems in that regard.
