TIMESHARE FINANCIAL SERVICES
Our U.S.-based, “internationally fluent” team isn’t a cost center – we’re a profit center.
Our primary objective is to generate revenue for the companies we support. To assure our systems and team members are an extension of our partners, we train our team to have as much knowledge as our partners’ onsite staffs. Because of our knowledge and trainings, our employees are experts in a variety of services, including Timeshare Financial Services, Member & Hotel Reservations, Welcome Calls, Timeshare Payment Processing, Maintenance Fee Billing, Loan Portfolio Management, Collections, Custodial Services and Lender Support, and Tax Withholding Trust Administration.
Memorable vacations made easy. Discover a flawless way to book resort time.
Vacations and time away from home are not what they once were. Due to hectic family schedules, high work demands, and not enough time in the day to complete everything, we understand that our members and their guests are looking for an easy reservation process and a high level of service. It’s our job to get our members on vacation as efficiently as possible. ResortCom simplifies the timeshare reservations experience by actively engaging our members and their guests, to ensure the reservation process is seamless. We train our reservation agents to know the services and amenities offered at each of our clients’ resorts, and encourage our team members to travel to our clients’ resorts so they can experience the resorts firsthand.
Our team members are trained to actively offer a plethora of options to enhance both the member and guest experience. To create the right experience, we believe we must understand the needs of our members. We focus on creating individualized vacation experiences, based on what our members love most while enjoying their much needed time away. At ResortCom, we train our team to build trusting relationships with our members that last a lifetime, resulting in membership satisfaction scores consistently above 90%.
TIMESHARE PAYMENT PROCESSING
Safe. Secure. Reliable. Count on ResortCom to process your valuable transactions.
With an outstanding 20% volume increase compared to previous years, and over US$500 million in credit card transactions processed every year, ResortCom is your solution for timeshare payment processing and merchant management. Our payment processing platform and management experts guarantee our clients receive outstanding service in the managing of their merchants and credit card transactions. Our risk management division ensures the processing of healthy transactions, helping to avoid excessive and unnecessary claims. As an additional benefit, we secure the process of automatic monthly or yearly charges for loan and maintenance fees. By giving your members the option of a stress-free automatic charge, we encourage a smooth collection process and low default rates.
ResortCom manages over 500,000 members/owners. Ensuring the data security of member data for more than half a million members/owners is at the top of our concerns, which is why we are a PCI-compliant, externally audited, secure operating environment. ResortCom understands hospitality industry requirements and international challenges as well as the nuances of privacy, security, and control from both the developer and member side. To serve as your strategic partner in the complex vacation/shared ownership industry, we tailor ResortConnectTM – our proprietary, sophisticated timeshare management software – to fit your business processes, mitigate risk and overall exposure, and seamlessly integrate into your member lifecycle, while providing 24/7/365 support.
MAINTENANCE FEE BILLING
A Bedrock of Our Timeshare Financial Services
Maintenance fee season management can be a stressful period, but for our clients it’s a smooth process, because we manage the entire process, from maintenance fee billing, statement delivery, and e-blasts, to maintenance fee collections, late fee statement delivery, and special maintenance fee recovery campaigns.
Our professionalism and experience allow you to rest assured your maintenance/yearly fee process is being handled with the most efficient, secured delivery and collections methods. Our member web portal facilitates an easy and simple collections process, enabling your members to process their payments online, ensuring a better and more efficient management of maintenance fee season.
LOAN PORTFOLIO MANAGEMENT
Healthy Portfolios and Strong Cash Flow
With three decades of experience in timeshare financial services, we are recognized as a leading strategic partner in portfolio management, with the best performing portfolios and the lowest cancellation rates in the industry. Our main goal is to maintain our clients’ healthy portfolios and cultivate strong cash flow, courtesy of superior online capability and service with a concierge attitude, ensuring a positive member experience.
ResortConnectTM, our innovative, proprietary, user-friendly member services platform, protects both client and consumer data at the highest level and ensures our clients have the information they need to stay competitive, while maximizing customer experience and creating revenue generating opportunities. ResortConnect enables tracking on delinquency and provides strategy-shaping information to bring accounts current.
In-House, Modern Delinquency Solutions
Our collections department – a team of multilingual professionals sensitive to diverse customs and business practices – strengthens, streamlines, and improves the performance of collection practices and procedures, expands the options offered to members in delinquency, and ensures continuous cash flow and the retention of long-term member relationships. Our state-of-the-art timeshare management software, ResortConnect, supports multiple currencies, making our collection activity dynamic, agile, and efficient.
Key performance metrics include:
- Exceptional current and two-payments-or-less delinquency rates
- Special care for new members and first payment defaults
- Transparency: Clients monitor performance through self-service reporting
- Clients granted full access to their data
- Coordination with third-party collections agencies
- Monthly executive reports with performance analysis
- PCI compliance certification
- 1-on-1 client concierge
CUSTODIAL SERVICES AND LENDER SUPPORT
State of the Art Document Safekeeping
ResortCom manages over a half million members/owners and has developed a reputation for providing high touch service to its constituents – both developer/management clients and members. Our efficient and finely tuned billing system works like clockwork, providing a turnkey solution to maintenance fee billing.
As a leader in the timeshare financial services industry, we provide services that support your lending process and maintain strong relationships with some of the top lending institutions in our industry. In addition, we offer custodial services with state of the art facilities that meet all the requirements necessary to keep your documents safe. We fully manage all Promissory notes incoming and outgoing for safe recordkeeping.
TAX WITHHOLDING TRUST ADMINISTRATION
Safe Yearly Reporting Management
Our evolution with the timeshare hospitality arena has allowed a deep understanding of different product offerings: fixed weeks/fixed and fixed week/floating structures, split weeks, points, fractions, and private residence clubs. With security and protection a high priority for all consumers – resulting in timeshare being one of the most highly regulated industries – our platforms have developed a reputation for excellence and security.
As a leader in timeshare financial services, ResortCom serves as a liaison between the trustees and the developers, protecting your business and members from tax requirements directly linked to our United States and Canadian consumers. We manage all yearly reporting with trustees, to ensure safe reporting to U.S. tax offices.
Constructive Accounting Solutions
We provide financial information to our clients in a timely and accurate manner, in accordance with accepted accounting principles. Meaningful, well organized financial records ensure that your business operations run more efficiently on a daily basis.
- Bookkeeping (Monthly/Quarterly/Annual) – Maintaining your books properly is a crucial part of any organization. In addition to managing your books, we can help you manage your payables (bills and payments) and receivables (invoices and collection)
- Expense coding review, to ensure grant compliance and tag all eligible costs
- Account reconciliations
- Daily general ledger maintenance
- Manage the processing of cash receipts and recording of revenue and receivables, to ensure that revenues and receivables in the reservation system are reconciled with credit card and cash data at any given time
- Bank account reconciliation
- Balance sheet generation and review
- General ledger, financial statement preparation, and custom reporting
- Recommend financial actions by analyzing accounting options
- Maintain accounting controls by preparing and recommending policies and procedures
- Reconcile financial discrepancies by collecting and analyzing account information
- Monitor and collect data to assess accuracy and integrity; analyze data; ensure compliance with applicable standards (i.e. GAAP), rules, regulations, and systems of internal control; interpret and evaluate results; prepare documentation
- Accounting system setup for new businesses
- Budgeting and forecasting
- Process optimization
- Financial modeling
- Budget variance
- Business plans
- Cash flow management
- 5-year strategic plans
We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency.