Fractional Ownership News

Fractional Summit 2009 - A Bright Light In The Property Industry

Thursday 23rd and Friday 24th April brought together fractional real estate professionals from all over the world, converging on London to attend ‘Fractional Summit’ www.fractionalsummit.com , Europe’s fractional ownership property conference.

Held at the prestigious Hilton Metropole in the heart of London and organised by Fractional Life www.fractionallife.com with headline sponsorship from Registry Collection and sponsors: FOC - Fractional Ownership Consultancy, Citadel Trustees Ltd, DCP International, Castello di Casole - Timbers Resorts, Preferred Residences, First American Title and Yoo Phuket the event attracted over 210 fractional property developers, brands and service operators together with leading property journalists. The room was packed with delegates keen to learn more about the fractional property marketplace and network with delegates from Denmark, Italy, Spain, France, Portugal, Republic of Ireland, USA, Cyprus, Turkey, Mexico, Thailand, South Africa, Dubai, Russia, Australia, Cape Verde, Lebanon, India, Croatia and the United Kingdom.
 
The speakers and panellists read like a who’s who within the fractional industry and Piers Brown, Founder of Fractional Life chaired the 2 day event.
The theme of this year’s conference was ‘Fractional ownership: the rewards and opportunities’ and during his welcome speech Piers thanked all delegates for such a great turn out (circa 80% up on last year) and remarked that as other property conferences have floundered around the world, Fractional Summit has got stronger and “the appetite for fractional ownership in Europe is now well and truly here”

He reminded delegates of the positive media coverage the fractional industry is receiving in these turbulent times and how he felt “a fractional property offering was now a prerequisite for the right developments and fractional’s time is now”.

He introduced his first speaker by sharing the fact that the US fractional marketplace in 2008 was worth a total of over $1.5 billion despite the economic slowdown and that the European fractional property market is at the beginning of a sustained growth curve.

Preben Vestdam from Valhalla Associates covered the Fractionals 101 session outlining industry definitions of luxury fractional ownership and explaining the similarities and key differences between fractional, destination club and private residence club business models.

Sarah Rezak Glasgow, Ragatz Associates then enthralled the audience with her knowledge of the US marketplace and how the US marketplace has grown to what it is today. She presented the reasons why the concept makes sense in today’s economy and how the luxury segment of the holiday home market will be the first to rebound from the current real estate quagmire.

An enthralling panel session moderated by Marc Da Silva, Homes Overseas Magazine followed which featured expert panellists commenting on the reasons why specific locations around the globe are ‘fractional hotspots’. Peter Kempf, DCP International told delegates to expect ‘phenomenal

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