September 2009 Developments - 24

Anniversary SPM Celebrates Its 30th Six Secrets for Success Sharon Drechsler, RRP “When SPM takes over a new timeshare resort,” Young says, “there is always a team list, a team plan, and a team coordinator who lives onsite for the 90-day transition.” Collier says, “Overall, the company’s goal is to take a resort in need of new management and improve it to the best of our ability. This can take as little as six months to several years. But, it starts with good planning.” “When SPM takes over a new resort, there is always a team list, a team plan, and a team coordinator who lives onsite for the 90-day transition.” Young says, “Over the years, SPM has had many renewed contracts, which means that the team is doing its job. It’s been interesting to witness individuals blossom and develop with good staff grooming. Particularly, it’s exciting to watch the company take in new employees with little to no experience in the timeshare management business and see them learn and grow throughout the ranks of the company to high-level positions.” The team concept is mentioned repeatedly as being vital at SPM. “Everyone is important at SPM Resorts,” says Collier. “No one in the company is a ‘big shot,’ and no one is afraid to clean a room or pick up a cigarette butt from the ﬂoor. Employees receive good compensation and beneﬁts, but more than that, there is a trusted friendliness and down-to-earth atmosphere throughout the company that makes this a great place to work. To be a successful employee in timeshare management, one must have a passion to work in its environment, surrounded by people who share the same level of commitment and dedication to the business.” F or SPM Resorts, Inc., the secret to being a successful, debt-free timeshare management company after 30 years in business starts with what some might call a “true grit” attitude. It’s a “dig into your work like a sand crab” kind of determination. How has SPM Resorts, headquartered in Myrtle Beach, South Carolina, steadily expanded from managing eight resorts to managing 30 resorts, serving approximately 100,000 timeshare owners, and employing nearly 800 employees? According to Founder Terry Collier, it starts and ends with attitude. “We do the job, we do it well, and we get it done,” he states. Other senior executives, Chairman/CEO Michael Schraibman, President/COO Bill Young, and Ken Collins also attest to the effectiveness of this hard-nosed ﬁxation on greatness. These four leaders share their views on what it takes to be successful, as outlined below. 2. Focus on ﬁnances and communications. “The biggest area that SPM has excelled in is ﬁnancial reporting, planning, and accountability,” Schraibman explains. “In our 30 years in the industry, most of the resorts we have taken under management have been in trouble ﬁnancially, were unhappy with previous management, or had poor communications.” Young adds: “We gather and evaluate the resort’s tax information, legal issues, minutes from previous meetings, the master deed and bylaw documents, ﬁnancial documents, and annual audits,” he says. “SPM then establishes the resort’s ﬁnancial position. One of the ﬁrst things we’ll do when taking up the reins for a newly managed resort is to prepare a newsletter discussing the transition and as we move forward, we communicate weekly with the Board of Directors.” 1. Start with a well thought-out business plan. When Terry Collier started Southern Property Management (SPM) 30 years earlier, he started with a strategy. “Thanks to the good foundation that Terry laid in the 1970s, we have a strong business plan that has given SPM a good roadmap,” says Schraibman. 3. Hire the best people and manage as a true team. “First of all, SPM Resorts understands the business of timeshare management, and we seek to continually train our team to better understand that the owner is their primary focus,” says Collins. “It’s important to retain hard-working, loyal employees who understand that resort’s personality. Employees must be committed to doing the job and doing it right.” 4. Excel in workouts, particularly in lean years. Schraibman describes how SPM has also grown its “workout” division, acting as a receiver for banks and different lenders in the timeshare, hotel, and condominium hotel business. 24 Developments • September 2009 ADVERTORIAL

September 2009 Developments

Table of Contents for the Digital Edition of September 2009 Developments