Fractional Summit Highlights Day One 10.00-10.30

10:00 State Of The Industry - An Update On The European Fractional Ownership Marketplace 2009. An update on the findings from Northcourse's 2009 study on trends in European fractional real estate and projections for the future.

Claud Attalla, Managing Director, Northcourse Leisure Real Estate Solutions

Claude Attala is Global Managing Director of NorthCourse Advisory Services, a subsidiary of Wyndham Worldwide Corporation and the leading global specialist in comprehensive research, consulting and project management in all sectors of the leisure real estate industry. Attala joined NorthCourse in 2005 as the Managing Director of Business Development in the Middle East. In that role, Attala was responsible for setting up partnerships with real estate developers on mixed-use projects in the Middle East region. In addition to setting up NorthCourse's Middle East regional office in Dubai, Attala was involved in setting up a joint venture agreement between NorthCourse and Qatari Diar Real Estate Development Company to establish a luxury real estate brokerage company in parts of the Middle East and North Africa.

Prior to joining NorthCourse, Attala was the Head of Planning and Operations for the Qatar Tourism Authority, where he was responsible for the development of a long-term strategic master plan for tourism as well as the classification system for hotels and tour operators. In addition, he set up the business development team to assist potential investors and developers with tourism-related projects in Qatar.

Throughout his more than 15-year career, Attala has also held various operational, sales and marketing positions with leading hospitality companies based in Jordan, the United Arab Emirates, Qatar, Saudi Arabia, the United Kingdom, and Luxembourg, including Radisson SAS, Intercontinental Hotels, and Sheraton.
Attala is fluent in English and has a good understanding of both French and Italian. He holds a Bachelor's degree in business administration.

Fractional Real Estate Report

*Trends In Fractional Real Estate Report Europe 2009 - £99.00

Commissioned by FractionalLife.com and Northcourse Leisure Real Estate Solutions and published in April 2009, this 92 page research paper is the first dedicated report on the growing fractional real estate market in Europe. The key findings were presented by Claude Attala, Global Managing Director, Northcourse Advisory Services at Fractional Summit 2009 in London http://www.fractionalsummit.com and is exclusively available here to purchase.

CONTENTS

1.0 EXECUTIVE SUMMARY

2.0 INTRODUCTION
2.1 Objectives of Report
2.2 Approach and Methodology

3.0 FRACTIONAL REAL ESTATE OVERVIEW
3.1 Introduction
3.2 Private Residence Clubs
3.3 Traditional Fractions
3.4 Product Summary
3.5 Fractional Ownership Opportunities
3.6 The European Legal Approach to Fractional and Shared Real Property
3.7 Country Specific Real Property Legislation
3.8 SWOT Analysis

4.0 FRACTIONAL REAL ESTATE IN EUROPE
4.1 Current Supply in Europe
4.2 Current and Emerging Players
4.3 Estimated Sales and Growth of the Market
4.4 Prevalent Industry Challenges
4.5 Predictions for the Future

5.0 TOURISM TRENDS
5.1 Introduction
5.2 The Current Economic Situation
5.3 Global Tourism Performance
5.4 Europe Tourism Related Trends
5.5 Leading Destinations in Europe
5.6 Conclusion

6.0 MARKET DYNAMICS
6.1 Generic Demographic Behaviour
6.2 Conclusion

7.0 SECOND HOME OWNERSHIP TRENDS
7.1 Introduction
7.2 Residential Price Change
7.3 Second Home Ownership Trends
7.4 Key Outbound Buyer Markets Trends
7.5 Key Inbound Destinations for Second Home Ownership in Europe
7.6 Transportation Trends
7.7 Conclusion

8.0 FRACTIONAL INDUSTRY TRENDS
8.1 Introduction
8.2 Fractional Industry Trends

9.0 KEY FINDINGS FOR FRACTIONAL REAL ESTATE
9.1 Demand for Fractional Real Estate
9.2 Fractional Buyer Profile for Europe
9.3 Outlook and Opportunities
9.4 Conclusion

10.0 KEY FACTORS TO FRACTIONAL RESORT SUCCESS
10.1 Introduction
10.2 Factors for Success
10.3 Considerations
10.4 Fractional Marketing Appeals

11.0 CONCLUSION

12.0 NORTHCOURSE PRODUCTS AND SERVICES

13.0 FRACTIONAL LIFE

1.0 EXECUTIVE SUMMARY

Developers, planners, architects, and others working in the resort development industry are faced with the most challenging environment in generations in light of the recent turmoil in the financial markets. Opportunities still exist for well-funded developers not reliant on credit markets and the survivors in the resort industry will be those who successfully invent entirely new business models to cater to changing and developing consumer demands and trends. The fractional market has only recently entered the European market and many developers unable to sell whole-ownership units in appealing destinations are increasingly looking at fractional opportunities to generate sales.

The fractional real estate market is thought to be less affected by the credit crunch due to the following reasons:

• Many purchasers of fractional ownership are cash buyers and are therefore not dependent on obtaining a mortgage. If they do need to raise mortgage finance against their primary home, they are most likely to fall into the category of consumers which banks are still willing to lend to (high value in home and a sound credit rating).
• Trends in the past have illustrated that the people purchasing fractional ownership are not principally motivated by investment factors. It is predominantly sought as a lifestyle investment.
• A traditional second home purchase exposes the purchaser to the full purchase price, all the annual upkeep and maintenance costs and potentially long periods in which the property will remain unused. These are negatives aspects under the current market conditions.
• Under the current market conditions, trends have shown purchasers to be more cautious when considering an overseas property purchase. Whilst there are still undoubtedly strong levels of desire in the market, purchasers are now considering the purchase costs of the property with the furniture and annual running costs and comparing that to the usage and rental incomes they are likely to have. Many are deciding that that these costs are not acceptable which has resulted in a proportion opting not to buy whole ownership.
• Travel to destinations closer to home, including domestic travel is expected to be favoured against longhaul travel (UNWTO, 2009).