Our Shared Leisure Services
With
more than 20 years' experience in the industry, our team specialises
in assessing the appropriate
Shared Leisure services and Trust structure for new projects. Our
extensive legal network
worldwide enables us to assist Developers in ensuring they have a
proper system in place to adhere to local and other legislative
requirements.
At Hutchinson Trustees we offer a bespoke, flexible and transparent approach, adapting services to the needs of each individual developer client. We are able to assist new and existing operators at every stage of their project, ensuring that the end product is not only what they had envisaged, but is workable and can be differentiated from other products out there in the market place.
- by Veranne Wilkinson
MANAGING DIRECTOR OF HUTCHINSON TRUSTEES
Product Framework
We have a collection of shared leisure legal structures and models available, and we will propose solutions that will best suit the Developers' project and product. We have specialist knowledge in the following areas:
;
1. Fixed & Floating weeks
Fixed
week ownerships are at the same resort, in the same unit size, and
during the same Week
each year. Most of these ownership types may deposit online or with a
call centre agent up
to two years before the start date of your Week.
Floating
week ownerships are dynamic, and unit details may vary each year.
Floating week owners
must contact their Home Resort to secure their deposit details. Once
the details of the Week
are obtained, some floating week owners may go online or call to
deposit their Week.
2. Vacation Clubs
Vacation
clubs are
a newer innovation of timeshare model. Instead of purchasing the
rights to
a specific unit, as with a timeshare, vacation
club "members"
pay an upfront
sum to purchase
a number of "points" which can be redeemed for different
vacations
each
year. Yearly
maintenance fees still apply.
3. Mixed use
For
this type
of product, the Resort Developer blends traditional Freehold (whole
or fractional
ownership) with a timeshare product, be that weeks or points.
4. Multi-Destination Clubs
This
product
combines the best aspects of proven vacation ownership products into
one dynamic
holiday portfolio.
But rather than being a single resort, the Developer has other
resorts
or inventory in other destinations offering a wider choice of
vacation opportunities. This
type of product is particularly well suited to a hotel chain or
sizeable independent resort developers.
5. Fractional projects
Fractional
ownership is a method of property purchase involving several buyers,
typically 612. Each owner holds an equal part of the title.
The
purchasers have a stake in an asset without having to pay for the
entire property, maintenance
expenses, and taxes.
While
a traditional timeshare limits access to the property to one to two
weeks per
year, fractional
ownership is usually available for five weeks or more per year.
As Trustee, our scope of work includes, but is not limited to, the initial project and product identification meetings; at this stage, we talk through the various options available, highlighting their advantages and disadvantages. Where required, we can also offer inspection visits to projects and make recommendations based on our findings.
" We assist developers by establishing the UK or overseas-based company by dealing with its incorporation and administration through our Company Formation & Administration Services. Our Company Formation services include a quick, free name search and culmination of all requirements. We draft comprehensive Memorandum and Articles of Association and specific items tailored to meet individual Developers' needs. In extension to Company Formation services, Hutchinson Trustees also offers Administrative Services which covers the companies' statutory requirements, customising t service to the individual Developer's needs.
Hutchinson Trustees also provides added services such as translations, Powers of Attome Minutes drafting and legalisation of same, as well as provision of Certificates of Good Standing. "
"In today's challenging business environment, it is critical to ensure that the excellent reputation of an organisation remains intact and that it does not place itself at risk due to the actions of a third party, which could mishandle funds or default on the delivery of the end product.
Hutchinson's Stakeholder Services addresses this problem. We eliminate such risks, leaving the marketer or agents to do what they are best at doing, i.e. selling the Developer's product, without having the burden of collecting and accounting for sales proceeds. The advantages are all-round. The customer feels safe with the knowledge that an independent third party is holding their funds in a "client escrow account". The funds are not released until the customer receives the goods."
"Hutchinson works closely with some of the critical, independent consumer finance companies in the UK. The availability of a consumer finance service for a resort developer in today's market is key to the developer's long-term success and affords an increase in cash flows.
Hutchinson has many years of experience in offering this service to its clients and the company's highly trained staff provides regular financial reports on receipts, payments and outstanding balances. All Hutchinson's bank accounts within the British Isles have recognised Client Accounts and protected against the financial failure of any of the parties (including the Stakeholder), and all cashbooks are fully computerised.
Hutchinson engages local based companies in Singapore, India, Malaysia, Thailand, Philippines and in other countries as per it client business practices. All authorised offices worldwide are given user id and password to safeguard all transactions and safeguard all client data"