Cendant executive to chair AHIC panel

Kenneth N. May, Chairman & CEO of Cendant Vacation Network Group, comprised of Resort Condominiums International, LLC (RCI) and Cendant Vacation Rental Group, will lead a session entitled 'Emerging Membership Products: From Condo-Hotels to Luxury Fractionals to Religious Timeshare'.

The panel will explore potential investment opportunities in the region for timeshare, fractional ownership, private residence clubs and condo-hotels exchange concepts, which combined make up a global industry worth over US$10 billion, with more than six million owners worldwide. Of those, only 31,000 are from the Middle East, representing a fraction of the potential in a region that research experts estimate could earn US$ 2 billion in sales over several years.

Mr May's fellow panellists include: Miguel Ruano. Vice President of Development & Project Management at Marriott Vacation Club International; Piaras Moriarty, Marketing Director, Palm Vacation Club at IFA Hotels & Resorts; Rick English, Chief Operating Officer at Manazel Al Haramain and Paul McManus, President and CEO of The Leading Hotels of the World Ltd.

"The Middle East's hospitality industry is strategically positioned to benefit from the advent of premier shared ownership concepts. This conference is the ideal forum to showcase these new travel membership products which can lead to new business opportunities for the region's hospitality sector," said Mr May.

"The region attracts over 3.3 million holiday arrivals each year that are income-eligible to purchase shared ownership and is expected to be the fastest-growing tourism region in the world with an anticipated average annual growth rate of 7.1 per cent until 2020."

Under May's leadership RCI has grown to become the world's leading vacation exchange company, partnering with resort and real estate developers to provide travel membership products to their customers around the globe. There are over 3 million families who own timeshare intervals at 3,700 RCI-registered resorts around the globe. RCI is now firmly positioned as a major player within the global travel industry and May is now spearheading new initiatives that introduce innovative travel and accommodation opportunities for consumers who invest in high-end shared ownership products such as fractional interests, private residence clubs and condo-hotels.

Before joining RCI, May served as general manager of Citibank North America Credit Cards, where he played a key role in the branding of Citibank's credit cards. He also led the Disney Vacation Club during its first three years, laying the foundation for Disney's very successful timeshare business. Prior to that, he has worked for PepsiCo and Colgate-Palmolive throughout the world.

Titled 'The window of opportunity for new hotel investment in the Middle East', the inaugural AHIC event will be staged at Madinat Jumeirah Resort and is being held under the patronage of HH Sheikh Ahmed bin Saeed Al Maktoum, President, Department of Civil Aviation, Government of Dubai and Chairman of the Emirates Group.