9 Luxury Fractionals vs. «Timeshares» ─ While luxury fractionals are a shared ownership product, they are not a «timeshare». Following summarizes the advantages of luxury fractionals over timeshares. From a developer’s perspective: • Fractionals have higher selling prices and more profitability; a better public image; higher consumer satisfaction; permit more targeted and less expensive marketing and sales processes which are low key and relationship oriented. • From a buyer ’s perspective: • More of the purchase price reflects product cost rather than the high marketing and sales costs of timeshares; and therefore the fractional property offers higher quality and better value • Fractionals have a greater appreciation potential ─ they generally behave like whole ownership resort real estate. When whole ownership appreciates, so does fractional real estate. In contrast, timeshares invariably depreciate. • Fractionals reflect a more exclusive experience ─ a lifestyle in contrast to simply owning an interest in a condominium. From the local community’s perspective: • Fractional owners are wealthier and, therefore, will spend more in the local community than timeshare owners. Specifically with regard to Morakot—Morakot as a mixed-use project combines real estate sales and hotel operations, resulting in the following synergies: • The hotel guests are an excellent source of purchasers because the guest has already experienced the property. • Fractional owners use their properties substantially more than hotel guests and consequently can generate more income from hotel amenities and services. Reaching out to Prospects ─ As the Cambodian market opportunities are relatively new and not widely known, we will use digital marketing techniques to reach out to appropriate universes. The internet makes it possible to reach out to many more people far more rapidly and at potentially less cost than in prior years.
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