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CRTA INSIDER
Vacation Ownership News & Updates
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| Canadian Resort & Travel Association |
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| Evolution of the Canadian Timeshare Association | Source: CRTA | The Canadian Timeshare Association was founded in Toronto in 1980. In those early days, the focus of the association was to unite the various Timeshare resorts across the country. The early days proved challenging as every Canadian Province had different views when it came to understanding the complexities of this new model: Timesharing a condominium. |
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| Hilton Grand Vacations Completes $500 Million Term Securitization | Source: Hilton Grand Vacations | “Our largest securitization to date reinforces HGV’s leading market position and strengthens our progress toward achieving synergy targets,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. “We’re happy to announce we consolidated legacy Bluegreen Vacations timeshare loans with HGV deed and trust loans under a single platform, while still achieving an optimized structure of investment grade ratings and a 98% advance rate.” Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes. |
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VACATION OWNERSHIP
& TRAVEL INDUSTRY NEWS
| VACATION OWNERSHIP
& TRAVEL INDUSTRY NEWS
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| Hurricane Rafael in Cuba: What to know about cancelled flights, new travel advisory | Source: Vancouver Is Awesome | Canada is warning travellers to avoid visiting western Cuba in the wake of a second powerful hurricane in weeks. The Canadian government has upgraded its Cuban travel advisory, advising travellers to exercise a high degree of caution due to "shortages of basic necessities including food, medicine and fuel." |
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| Global arrivals hit record levels as consumers make travel a priority | Source: Travel Press | Business is booming as global travel is set to hit a major milestone in 2024 as international tourism arrivals are forecast to hit 1.5 billion, surpassing 2019 values. That was just one of the trends revealed in the WTM Global Travel Report – produced in conjunction with Tourism Economics – that was released during World Travel Market London this week. |
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| Gas Prices Drop Again Despite November Hurricanes | Source: Travel Pulse | The weather can have an effect on everything. Even gas prices. Several infrequent November hurricanes in the Atlantic Basin have slowed the growth of fuel prices. Slowed, but not stopped. |
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RANDOM BITS & NEWS BITES | RANDOM BITS & NEWS BITES |
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| Boeing workers vote to end 7-week strike, accept new contract with 38% raise | Source: CBC News | Boeing's West Coast factory workers accepted a new contract offer on Monday, ending a bitter seven-week strike that halted most jet production and deepened a financial crisis at the troubled planemaker. |
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| Budget Airline Avelo Is Launching a Half-dozen New Routes, Including Its First International One | Source: Travel + Leisure | Travelers will have more options for getting to Florida and the Caribbean. Ultra-low-cost carrier Avelo Airlines is expanding its network with new routes from its base in Connecticut to popular cities across the country and its first-ever international destinations. Next week, Avelo said it will launch its first-ever scheduled international flights from the airport to both Cancun and Montego Bay, Jamaica. |
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| Taylor Swift fans priced out of accommodations after hotel, Airbnb costs spike 10 times higher | Source: CBC News | Fans are selling their tickets to Vancouver, Toronto shows because they can't afford to stay the night. Some hotel rooms and short-term rentals in Toronto and Vancouver on show weekends costing 10 times more than on other weekends. |
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| Canadian Resort & Travel Association 3434 McKinley Beach Dr. #404 Kelowna, BC V1V 0H3 Canada | +1 (647) 613-5464 | [email protected] | canadianrta.org |
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