Word: condominium
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...week, the Fords lived through the same kind of unsettling chaos that every family endures as it packs to move. Vans pulled in and out of the White House, grounds. The family's cold-weather clothes were ticketed for their condominium in Vail, Colo., their warm-weather togs for a rented house in Palm Springs, Calif., and presidential documents and memorabilia for the University of Michigan. At one point, surveying all that remained to be done, Betty Ford joked to an aide, "I think I'm going to have to call Mrs. Carter and say I just...
Down-to-earth though he may appear on television, Frank Perdue is no bumpkin. He wears Gucci loafers and drives a blue Mercedes, lives in a condominium in Ocean City, Md. (he and his wife recently separated) and plays a plucky game of tennis when he can. Offscreen, he is even beginning to talk like an adman. He professes no fear of other firms that are beginning to emulate him by advertising brand-name chickens-because, he says, "nothing puts a bad product out of business faster than good advertising...
Under time-sharing plans, participants pay anywhere from $800 to $8,000 for bargain-rate accommodations in a certain condominium or vacation resort for a given number of weeks in a particular season each year, usually for at least twelve years and in some cases indefinitely. In exchange for guaranteed occupancy over an extended period, time-sharing resorts offer low prices, luxury suites usually equipped with kitchens, and discounts on the use of entertainment facilities...
Resort operators most likely to benefit from time-sharing are those who have been hard hit by the recession, especially condominium developers. In the past ten years, vacation condominiums have doubled in price, and rates at many resorts have increased by 80% or more. Though occupancy rates in the resort industry as a whole have been rising lately, they remain low in many places, which means that costly facilities are not always in full use. Says Tom Perine, president of Vacation Planning Inc. of Richmond, Ill., the largest timesharing promoter in the U.S.: "Timesharing in the computer industry...
...shareowners, a time-sharing vacation can offer the advantages of a vacation home without the large initial investment or steady upkeep. At the Playboy resort, for example, Larry Leven, a $35,000-a-year Chicago insurance executive, and his family recently spent a week in a condominium that normally costs $135 a day. As owners of a 40-year, $7,050 share at the resort, they only paid an $18 per diem charge...