Disney Blog - Orlando Vacation Information

Thursday, March 18, 2010

David Siegel to sell $350 million in assets

Thousands of acres of undeveloped land including $350 million of assets in Florida are up for sale by Westgate Resort's time-share mogul David Siegel.

From mobile homes to airplanes, condo's to golf courses, Siegels non time-share portfolio is up for sale worth millions during one of the worst economical downturns in the last 50 years.

Listed for sale on CarltonExchange.com are $350 million in assets including the Grenelefe Resort in Haines city. The resort which includes 277 acres of land, 2 golf courses, and 432 condo units was purchased for $12.8 million in 2002.

Since the the freezing of credit markets in 2008, Westgate among other time-share resorts have struggled financially cutting up to 1/3 of it's employees. According to Siegel, all items are noncore assets being sold in order to raise cash for the primary time-share business.

Cash-strapped, Siegel has put contruction work Versailles 90,000 sq ft mansion in Windermere on hold while selling unnecessary non-time-share assets including land near Disneyland, 500-room Ramada Hotel, and 2 private jet aircraft.

Albeit, some of the golf & tennis resort at Grenelefe Resort is in disrepair causing multiple complaints by residents, the sales price of $50 million looks like a sweet deal.

Wednesday, March 17, 2010

Wyndham timeshare deal Myrtle Beach, SC

Wyndham will begin selling units at Towers on the Grove at Myrtle Beach converting them from condo to time-share conversions.

In the light of the weak economy, condo to time-share conversions are good for owners that can not sell and it draws vacationers that have adequate resoources to spend.

It appears that Wyndham will be taking on more property management responsibility going forward. Wyndham will deal with 43 units which are conventional condominiums. Conventional owners bought their units as vacation homes.

In the fee-for-service model, developers will provide financing while Wyndham will help manage the units for a fee.

Wyndham capitalizes on real-estate down-turns of foreclosed assets by monetizing the assests. This new way of doing business is called fee-for-service projects that will be blended with the conventional time-share sales.

As time-share developers like Wyndham continue to have trouble getting credit and capital from banks, developers can supply the much needed cash for services. 

Time-share vis-a-vis condos collaborations have been symbiotic since the early 70's when there was an over-abundance of condo's.

Tuesday, March 16, 2010

Orlando's Celebrity Resorts Woes

Sprawling from the most magical place on earth in Orlando to the pristine beaches of Hanalei Bay Hawii, Celebrity Resorts became a brand name in family vacations around the world.

Formerly known as Resort World back in it's heyda, Celebrity sold Caribbean timeshare in the 70's, and experienced exponential growth during timeshare boom expanding operations to Orlando in the 80's.

As the organization continued to grow into the 90's so did it's liability and debt. With the collapse of the financial market in last decade, and increasing unemployment lines, timeshare began to be unprofitable over the last two years.

In an effort to move forward, unable to pay back millions of dollars in debt, the once sprawling timeshare resort now has succumbed to filing Chapter 11 bankruptcy protection.

Monday, March 15, 2010

Orlando's Lockheed Martin Corp new weapons deal

New contracts for Lockheed Missiles & Fire Control may produce some new Jobs in Orlando

As war continues to pick-up in Afghanistan, Apache weapons and targeting systems will continue to require upgrades.

Recieving a new contract worth $37 million is Lockheed Martin Corp's Orlando Missiles unit. Existing conventional Apache weapons-targeting equipment will be modified in a new three-year contract.

Some of these systems play critical roles for the Apache fleet deployed in wars in Afghanistan and Iraq.

Employed in Orlando are 4,000 that are currently working on new contract deals estimated at $ 600 million. Up to 70% of the suppport work is connected to Pilot Night Vision sensors that include Designation, Acquisition, Navigation, and Targeting.

One of the enemy's most feared weapon is the advanced cruise missile built by Lockheed Martin has been awarded $245 million in contracts this year including $118 million for the Sniper Targeting pods for the Turks.

Friday, March 12, 2010

Tradebank to the rescue

Today, during tough times, some investors  are building a cash-free economy in Orlando. As part of the network, one could trade their products and services for trade dollars.

Essentially, Tradebank's recent success is based on an old concept called bartering. The ability not to rely on one-to-one trades is quintessential to Tradebank's success.

Since Tradebanks inception 20-years ago, most businesses had no interest in bartering. Since the recession, some businesses have given Tradebank a second look for new business ideas.

Where resources have been slim during 2009, as a member of the Tradebank network, businesses can buy and sell products & services without cash.

Recently, with ever-growing list of clientele, Orlando has become one of the fastest growing regions in the U.S. 

In the bartering system, a hotel let's say, that needs repairs could sell gift certificates into the network to a repair company willing to trade at the same value. On the other hand, with Tradebank, the same hotel could sell rooms for trade dollars that would be as good as cash.

During the year, this hotel may need some landscaping, it would then find a landscaping company on the network and then use  trade dollars to pay for the services.

Cashless commerce is becoming one of the ways to the future. Some traders claim to make in the order of tens of thousands of cashless dollars that they otherwise would not have made in regular business.

But unfortunately, old uncle Sam get his cut because traders are required to report thair trades as income at the end of the year.

In Tradebank, everyone can own their own network of businesses where the trader if wise can make a fortune. One of Tradebanks benefits for brokers is that they foster connections between members by finding businesses to fulfill needs.

Thursday, March 11, 2010

Fantasy of Flight paranormal investigation

Paranormal Investigation and Tour
Dare to explore nightFlight with a top professional and discover the paranormal through an authentic investigation into the supernatural. Be an eyewitness for a limited time only Saturday, March 6, 20; April 3 at 9:30pm–1:30am,  Adults only. Reservations required. 

The Blue Max scale R/C Challenge and Fly-In
Bedazzled as local area enthusists fly their premiere vintage & WWI era radio control aircraft competition on Fri. Mar 12,13  

Living History Symposium
Get upclose and personal with some of WWII's Women Airforce Service Pilots (WASP) that left their homes during one of America's most difficult times. Featuring the “A Passionate Pursuit”, discover the first American women to fly for the U.S. Military. Show times experience offered Thur Mar 25,27. Included with general admission. Living Legends Luncheon: March 26, noon – 1:30 p.m. 

Sun 'n Fun Splash-In at Fantasy of Flight
On Thur 4/15, Witness an amazing one-of-a-kind competition blending both seaplanes & amphibious aircraft. Be inspired as these vintage war-planes perform both water-landings and takeoffs on Lake Agnes.
Included with general admission for spectators.

13th Annual Mustangs & Mustangs in conjunction
As part of the Living History Symposium, experience   “Victory In The Sky” with American Fighter Aces on Sat., 4/17.  Witness the  only event of it's kind in Florida to feature both beautifully-restored WWII P-51 Mustang war birds. Upclose viewing of hundreds of classic and modern Ford and Mustang automobiles. Check out the amazing WWII American Fighter Aces, including Col. C.E. “Bud” Anderson.  Included with general admission for spectators.

Please direct inquiries directly to Fantasy of Flight.Fantasy of Flight will be closed on Sat., April 3 for a private event and will reopen to the public at 10 a.m. on Sun., April 4.

Wednesday, March 10, 2010

Orlando to be part of Google experiment

Orlando hopes to be part of Google's "Fiber to the Home" experiment that will test ultra-high speed Internet.

After March 26, Google will begin deciding who will be the best candidate test sites for the new fiber optics.  The intention is to build test locations to operate the new data highway that will replace the country's out-dated telecomunications network.

As part of an effort to win a bid, each city created their own unique sales pitch to attract Google's attention.  Hoping to get connected is Orlando's own mayor Buddy Dyer who shot a promo video beside a balloonlike Google maps marker from the City Hall office balcony. 

Imagine the possibilities with download speeds one hundred times faster than the current architecture.  Currently, there is a fierce battle between competitors vying for position in line for this free opportunity. 

Google's #1 question to cities quintessential to the success of this project will be, how will you use an ultra-fast internet? Some of these reasons may include high tech institutes, imaging for medical research, digital-media schools, and theme park technology.

In the months to come, Google hopes to offer ultra-high speed internet to customers for a competitive price.