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• Royal Palm Crowne Plaza a
Resort turns to timeshare
The Royal Palm Crowne Plaza Resort in South Beach is
going timeshare.The hotel that opened two years ago plans
to sell off quarter-shares in 160 rooms.Prices will run from w
the$100,000s to the$300,000s. _
Developer R.Donahue Peebles won the right to convert w
x
the old Shorecrest hotel into timeshares as part of a settle- ~
memwith Miami Beach over problems with the city-owned o
real estate used to build the Royal Palm.Peebles said the _�
renovated timeshare tower will be renamed the Shorecrest '0
Beach Club,and buyers will have the option of either using .c
their rooms every four weeks or trying to rent them out. § •
Luxury timeshares—known as fractional ownership in 3
,TAFF the industry—are new to South Florida,a place where
developers prefer selling off hotel rooms outright as condo-
.• ' miniums to Finance new projects.
�' Peebles said the timeshare concept will let him keep
x-' prices lower than a hotel-condo unit.The developer told'
Black Enterprise magazine he hopes the timeshare sales will
e raise$120 million for future acquisitions.
—DOUGLAS HANKS III
Ida Keys •AVIATION • •ADVERTISING
TEAMSTERS CLOSE HERNAN PONCE
;otia- TO AN AGREEMENT FORMS AN AGENCY
vera- The International Broth-_ South Florida newspaper
•
erhood of Teamsters said it veteran Hernan Ponce has
•
• mol- has reached a tentative hung out his shingle,form- '_
'oint agreement with Arrow Air ing JLK Advertising,based
ense management,subject to rati- in Aventura. '
d."I fication by the pilots. Ponce,the firm's vice
fish Arrow Air,which has president of sales and mar-
not been operating under Chap- keting,plans to use his nub-
s,so ter 11 bankn,rnr.....--• -