I'm quite sure they were losing money and they entered into this scheme in a desperate attempt to recoup their losses.
More Quotes from Scott Berman:
Fewer new rooms to absorb is good news for the hotel industry. We are still in a relatively strong economy and demand is there.Scott Berman
In warm weather destinations, like the Caribbean, Mexico and Florida, advance bookings were very strong and hotels, particularly at the high end, are tight on space. Many popular destinations are sold out for weeks at a time. From an operator standpoint, this is going to be a strong winter. From a consumer's perspective, if you don't have reservations already, you need to get working on that.
Scott Berman
There's a time-share purchase opportunity for virtually any size wallet.
Scott Berman
There is no question that there is a greater propensity to travel across all segments -- leisure, group and business.
Scott Berman
Until now, the country has focused on value-oriented travelers, ... It is trying very hard with projects such as this to rid itself of that reputation.
Scott Berman
Every time there is a fraud, investors profess to do more due diligence and this is no different.
Scott Berman
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No problem is too big to run away from.Charles M. Schulz
Time destroys the speculation of men, but it confirms nature.
Marcus Tullius Cicero
But the branches of industry are so multifarious, the divisions of labour so minutes and manifold, that it seems at first almost impossible to reduce them to any system.
Henry Mayhew