The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Minister of Tourism yesterday said the Government was looking to introduce new timeshare legislation, calling the industry vital to year-round business and product diversity.

Obie Wilchcombe acknowledged concerns from those in the industry, particularly on this nation’s ‘right to use’ laws.

“We are looking at our laws because we realise that there are changes being made in our industry,” he said.

“We have heard concerns from the private sector on that issue. We are looking at the introduction of new legislation and a new approach to the industry. One of the main concerns people have is the issue of being able to pass on ownership to other family members, continuity of ownership. To be competitive we have to look at issues like that.”

Mr Wilchcombe’s comments come on the heels of the 2013 Shared Investment Conference in Miami, where some developers and industry executives noted the Bahamas’ timeshare laws needed to be updated to facilitate the timeshare deed norm.

Bert Blicher, president of Blue Water Resort on Cable Beach, told Tribune Business that the country’s current timeshare laws are too ‘restrictive’.

“The timeshare laws basically call for a 40-year ‘right to use’. That’s the major issue. Someone who buys doesn’t get a deed, it’s a right to use for 40 years and that’s it. The industry, at least for the brands, is more inclined to go with a deeded property; that’s where people get a deed. It’s in their estate and they can give it to their family. That is something that needs to change going forward from,” Mr Blicher said.

Similar sentiments were expressed by American Resort Development Association (ARDA) president and chief executive, Howard Nusbaum.

“The Government, and my office in particular, is taking a look at the legislation because we ultimately want to get more heads in beds and have long-term bookings,” said Mr Wilchcombe.

“It’s good to have the seasonal business, but we have to be more than just seasonal business. We want that product diversity. That is extremely important for us. People are looking for the the all-inclusives, the hotels and timeshares. Timeshare is a good business for us. There was a point in time in Grand Bahama when the timeshare business kept the economy alive.”