Del Mar, CA (August 8, 2011) –– Advanced World Concepts, Inc. (AWC), developers of the Property Reserve Analysis (PRA) System – reserve management software for timeshare resorts – has announced software licensing agreements with Club Meliá, Breckenridge Grand Vacations and the Christie Lodge.
Explained AWC founder and industry pioneer Bill Chaffee, RRP, “The PRA System (www.prasystem.com ) will enable these developers and resorts to quickly and efficiently track reserve items, develop budgets, and projections for their associations as well as support for reserve fund investments. While utilizing this system, a property can be setup, data entered and a report produced in hours or days instead or weeks or months, providing all the necessary reports to enable the Board of Directors and management to make informed decisions.”
Club Meliá (formerly Sol Meliá Vacation Club), has licensed the PRA software for their 18 properties in Panama, Mexico, the Dominican Republic, Puerto Rico, the Canary Islands and mainland Spain. “We found that the PRA System lived up to everything that was advertised while being extremely user-friendly,” says David Aparicio, Controller for Club Meliá, which is an affiliate of the Gran Meliá hotel chain with over 300 resorts globally.
Breckenridge Grand Vacations recently licensed PRA for their eight owner associations, as well as the Christie Lodge in Avon, Colorado. Island One Resorts in Florida and Welk Resorts used the DOS version since the early 90s and were converted to the Internet version in 2007. Today, over 50 individual timeshare resorts utilize the PRA system. FARROW Commercial (www.farrowcommercial.com) has produced more than 40 reserve management reports in the past year utilizing PRA.
Chaffee designed the first reserve study software more than two decades ago in 1989 to support individuals, associations, and property management and reserve study companies. Properly crafted plans ensure that reserve funds are available when needed for long-term maintenance, refurbishment or replacement of reserve items in common-interest-development properties. PRA is the only reserve management software which has been CPA evaluated for logic and accurate calculations.
PRA licensees receive round-the-clock support and are thoroughly trained in using the system, which simplifies financial analyses and processes while guiding the user to a desired solution without the need of software or accounting knowledge. An employee can be taught to use the system in about two hours, while a property’s complete plan can be produced in hours or days.
Says Chaffee, “We are proud that our latest version is setting new standards for reserve study software and for the preparation of reserve management plans. Unfortunately, the industry is not keeping pace with properly maintaining resorts due to the economy, increasing unpaid maintenance fees or boards that try to keep fees low by not funding reserves. This can have a huge domino effect on the entire industry. These are dangerous decisions which can have a negative impact on the resort’s exchange company ratings as well as its future financial health,” added Chaffee. “But if you systematically fund your reserves, this will not happen.”
To learn more about the PRA System, contact Bill Chaffee at (858) 755-8877 or email him at [email protected]
For additional information, contact
Marge Lennon at 239-482-3891
SOURCE: Advanced World Concepts