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BuyATimeshare.com Collects More Than 1,700 Pounds of Food for Families in Need November 19, 2011

Posted by Bryan Connelly in : ARDA, Charity, Customer Comments, Donate a Timeshare, General, New Features, News & Events, Timeshare Resale, Timeshare Resource, Travel, Uncategorized , add a comment

BuyATimeshare.com has wrapped up its Third Annual Food Drive with some heartwarming results. Working with local businesses, the drive was able to generate 1,200 pounds of food for the New Hampshire Food Bank and the Nashua Soup Kitchen. Together with donations from our office in Tampa, Florida, BuyATimeshare.com was able to contribute 1,778 pounds of food to local charities.

In addition, BuyATimeshare.com hosted a fundraiser at Peddlers Daughter in Nashua. The event included a raffle to raise as much money as possible. Headlining the raffle was a free vacation and airfare for two provided by BuyATimeshare.com. The winner of this year’s raffle was announced, and the successful event raised $800 for a total monetary donation of $1,315.

On Monday, November 21, the managers of BuyATimeshare.com donated their time at the Nashua Soup Kitchen. This came as a welcomed surprise to the Food Pantry, which expects to distribute over 1,000 Holiday Boxes to needy families in the area. President of BuyATimeshare.com Wesley Kogelman said, “We look forward to another great holiday food drive and I look forward to helping these families again.” A special thanks to Frederick’s Pastry’s for participating as a drop off location. And thanks to our own Randy Medeiros for a great job organizing the event and being the man on the microphone.

With so many reasons to step up and give back to the community, everyone at BuyATimeshare.com is ready to work with local businesses and residents for next year’s big Food Drive. The staff is always looking for ways to get involved. Whether working with the United Way of Nashua, Toys for Tots in Tampa Bay, BuyATimeshare.com employees are excited to contribute. Whether sponsoring an event for the Big Brothers Big Sisters of Greater Nashua & Greater Salem, or donating backpacks to Metropolitan Ministries in Tampa, there is always a way give back to the local community.

Wesley Kogelman Attends the 13th Annual Shared Ownership Investment Conference August 29, 2011

Posted by Bryan Connelly in : ARDA, General, New Features, News & Events, Timeshare Rental, Timeshare Resource, Travel , add a comment

Along with several industry experts, developers and hoteliers, Wesley Kogelman will be attending the 13th Annual Shared Ownership Investment Conference from October 17 – 19. Kogelman, president and CEO of BuyATimeshare.com, hopes to contribute guidance as an industry leader in the secondary market, as well as listening carefully to further understand the complete picture presented by industry experts at the conference. By attending this event, Kogelman will better the resale industry with valuable knowledge learned from a variety of resources.

Wesley Kogelman will be working directly with developers, homeowner associations, and management companies to learn more about the many different shared ownership business models. In order to better the user experience for all of BuyATimeshare.com clientele, as well as future customers, Kogelman hopes to share ideas with industry leaders to further increase the value of the secondary timeshare market. There are many facets to the fractional and shared ownership concept. And the many segments and guests speakers will build on the future of how we all vacation.

Featured speakers like Jeffrey Ma and noted marketing strategist Peter C. Yesawich, Ph.D, will be sharing their expertise on changing trends in business, technology and consumer activity. Representatives of Smith Travel Research and the American Resort Developers Association (ARDA) will be discussing the current status of the industry. And throughout the day presenters will discuss the future of mixed-used resort, government regulations, and consumer demographics.

Wesley Kogelman has been providing timeshare solutions for over a decade. During this year’s conference he is hoping to make BuyATimeshare.com a more effective resource for timeshare buyers and seller. The 13th Annual Shared Ownership Investment Conference has been aptly themed “A New Perspective,” and will focus on networking and the sharing of ideas. Subjects like the future of shared ownerships like traditional timesharing, fractionals, and private residence clubs will be covered by those who have had success in those segments.

State of Nevada Endorses Timeshare Advertising On The Internet June 20, 2011

Posted by John Stephens in : ARDA, News & Events, Timeshare Resale , add a comment

For all the industry detractors (yes, I’m talking to you – old school resort developer) who discourage advertising timeshares on the internet, a bill just signed into law by Nevada Governor Sandoval  provides a clear endorsement of the practice.

According to the American Resort Development Association (ARDA), Nevada Senate Bill 200 was signed by the Governor last Friday, allowing advertising on the internet of timeshare foreclosures for sale.

We’ve been in the online advertising business for over 10 years and this is the first time I can remember that our form of advertising has received  such an explicit endorsement from a state legislature.

But it’s not just the Nevada legislature that gave the thumbs up to the process. According to the ARDA website, “ARDA and ARDA-ROC (Resort Owners Coalition) representatives testified in favor of SB 200 in both the Senate and Assembly, spending time explaining the benefits of internet publication of timeshare foreclosure sales, when owners–or prospective buyers–may be located anywhere in the U.S. or the world. Publication in local newspapers only (where a short-form publication is still required by the bill) was both expensive and not readily accessible for owners and potential buyers.  In addition to ARDA-ROC and ARDA, the Nevada Real Estate Division also supported the bill”.

This is an amazing turn-around for an industry that just a few years ago viewed the online advertising of timeshares as primarily a gimmick for rogue companies looking to fleece consumers. Now, the industry is advocating the use of the internet and recognizing the limitations of newspaper advertising, which we’ve been saying for years.

I realize that foreclosures are a sensitive subject and this law was passed primarily for the benefit of HOAs looking for ways to sell inventory and lower the potential costs of foreclosures on the resorts. Provisions were also placed in the bill to protect the privacy of timeshare owners and their personal information, which we wholehearted agree is an important aspect of the bill. But there is no denying that such recognition of the internet’s ability to help move timeshare inventory, especially in light of the current economic difficulties faced by some timeshare owners, is a clear validation of the business model that we have advocated for years.

Remember, great deals on Las Vegas timeshare inventory from Nevada, timeshare weeks in the rest of the country and even international timeshare such as Mexico timeshare can be viewed on the BuyaTimeshare.com website by clicking here.

New Sales of Timeshares Were Flat for 2010 June 14, 2011

Posted by John Stephens in : ARDA, News & Events , add a comment

This is where you find out if you’re a “glass half empty” or “glass half full” type of person when it comes to the state of the timeshare industry.

First, the facts. According to a report in the Orlando Sentinel, the American Resort Development Association (ARDA) has released industry sales figures for 2010 which indicate that sales of new timeshare products edged up ever so slightly – to $6.4 billion in 2010 from $6.3 billion in 2009. Now, in some circles, $100 million would be a significant amount of money. But when you’re talking about the kind of cash that the timeshare industry had been raking in pre-recession, it’s more of a statistical bump than a growth spurt.

The figures, detailed in ARDA’s 2011 State of the Vacation Timeshare Industry report, are based on a survey of timeshare resorts, developers and management companies compiled by Ernst & Young on behalf of ARDA.

“The good news is we saw growth. It was modest, but we saw it mostly in the end of the year,” said Howard Nusbaum, president of ARDA, who told the Sentinel that the increase in sales is a positive indicator for 2011.

Now, the glass half full person will say that an increase, even if it’s only about 1.5%, is still an increase and good news as the industry continues to claw its way out of the economic downturn. The glass half empty person says these essentially flat statistics show that we’re still in the muck and struggling to make it, with little job creation or growth in sight. And both views would be correct.

When compared to the industry high water mark of $10.6 billion in sales in 2007, these numbers don’t measure up and show just how far the industry has fallen. However, these figures do show that the bleeding has stopped, revealing the first industry growth in three years.

Probably the most interesting fact reported is that the average sale price for a new timeshare week fell 5.7% to $19,308, the first time that the price has actually fallen since 2002. Occupancy rates also dipped, from 79% in 2009 to 78% last year.

The ARDA spin is that the industry is focusing on improved fundamentals and getting qualified buyers to tour resorts, according to the Sentinel. However, they also admit that the industry continues to cannibalize itself by worrying more about how to upgrade existing owners rather than bringing new owners into the market.

For example, in 2010, 45% of all timeshare sales involved people who already owned a timeshare with the same developer, up from 38% in 2009. At some stage, this strategy will backfire on developers as they cannot continue to go to the same well of owners and remain a viable sales product.

Many of you will say that, even at $19,308, the sale price for a new timeshare is still way too high. And you’d be right, which is why you’re looking into the timeshare resale market by coming to this website. New sale prices include an approximate 55% markup to cover the sales and marketing costs of the developers, which is why timeshare resales are so much lower in price. Like the pre-owned car market, these added costs don’t exist on the secondary market, which is why the prices are so good.

And that brings me to the main point of this topic – sales. Perhaps the real reason that industry sales are not as high is because of the effect of the internet over the last few years. Maybe it’s not just about the recession, but the fact that consumers are much wiser about the industry than they were in 2007 and the added transparency brought by the internet has removed the mask from the industry to reveal the real market value of the product, which is much closer to the resale price.

But you already knew this, or you wouldn’t be here reading this. So have fun browsing the resorts advertised on the BuyaTimeshare.com website for your next awesome timeshare vacation by clicking here.

Hawaii Timeshare Tax Is Saved By The Bell – For Now May 21, 2011

Posted by John Stephens in : ARDA, Hawaii timeshare, News & Events , add a comment

Hawaii timeshare owners have dodged a legislative bullet during this year’s state legislative session as controversial language that would have increased taxes on timeshare owners by 300% was removed from bills recently passed by the Hawaii Senate and House of Representatives.

Hawaii Governor Neil Abercrombie had stated earlier this year his desire to increase the amount of taxes levied on Hawaii timeshare owners in an attempt to help close a budget shortfall faced by the state. However, an outcry of protest from timeshare owners, developers, resort managers and other members of the hospitality industry led to legislators removing the language from bills which passed just prior to the close of the 2011 session.

While this is good news for the timeshare industry from a state-wide perspective, industry observers are concerned that the state has kicked the can down to the local level through language included in those bills that could motivate action on a county level to raise taxes.

According to the American Resort Development Association, the legislation “did include one particular tax related item that might have an indirect effect on timeshare owners on a county level.  The legislature placed a cap on the overall amount of transient accommodation tax revenues that are normally shared with the counties.  This means that local governments could have an additional incentive to raise revenues, particularly property tax revenues.”

Talk has surfaced in the Maui County Council about raising the tax rate for owners in their jurisdiction, as I blogged about last month. During a May 6 hearing, representatives of the timeshare industry voiced their concerns to the Council about their proposal, according to a report in the Maui News.

“We believe time shares pay their fair share of taxes,” said Jason Gamel of the American Resort Development Association, who added that there appeared to be “no rationale” as to why timeshares were separated from hotels in the property tax system in 2005. Gamel said the county appeared to set a higher rate for philosophical reasons, according to the report.

During the hearing, Council Member Don Couch disagreed with the statements, noting that county officials in 2005 said they wanted to increase property tax rates for timeshares because they pay less in hotel-room taxes than traditional hotels. He noted that finance officials at the time said the rate should be set at $21 in order to balance out the loss of revenue to the county but that they wanted to go with a lower rate because they judged it would be more fair. The current rate is $14 and the proposed increase would raise the rate to $15.45 per $1,000 of assessed value.

This issue is certain to be contested by the industry should it pass, as I’m sure that local officials in other counties and municipalities in Hawaii are watching this closely to see if they can also get away with increasing rates.

The statement by Couch shows once again the misconception that elected officials often have about timeshare, mistakenly using an apples-to-oranges comparison to hotels that does not fully consider the ownership aspect of timeshare.

Or, perhaps those officials are conveniently overlooking (and taking for granted) the fact that timeshare owners pay property taxes in their maintenance fees and, unlike hotel occupants who pay accommodation taxes only when they visit, timeshare owners can’t say no to this payment by not visiting the island.  

I’m just sayin’….

This issue is scheduled to come to a head at a special County Council meeting on Monday, May 23 when the Council gathers to vote on setting property tax rates for the 2012 fiscal year.

The good news for people looking to buy timeshare or rent timeshare is that using sites such as BuyaTimeshare.com on the secondary market can give you the best possible opportunity to get a great deal on your next Hawaii vacation.

Hawaii timeshare from branded resorts such as Diamond Resorts, Hilton Grand Vacations, Marriott timeshare, Bluegreen timeshare and Wyndham timeshare can be seen on the BuyaTimeshare.com website by clicking here.

CARE Timeshare Conference Brings Together Industry Members May 17, 2011

Posted by John Stephens in : ARDA, News & Events, Timeshare Rental , add a comment

If you look closely on the homepage of our website, you’ll see the various business groups that we are a member of as we believe strongly in supporting business and timeshare industry organizations.

The Cooperative Association of Resort Exchangers (CARE) is one of those groups and, while you may not have heard of them, they are one of the best organizations in the timeshare and vacation ownership industry.

Our Sales Director, Peter Emery, attended their latest conference earlier this week in Deerfield Beach, FL, and filled me in on their latest developments.

Now in their 26th year, CARE is a volunteer organization primarily made up of representatives of resorts, travel and vacation clubs and online rental companies who look to network in an effort to find the best vacation inventory possible for their customers. We participate in CARE because of the timeshare rental side of our business since CARE members often look to match up consumer requests for certain vacation destinations with the companies that can fulfill those requests.  

These are the people on the front lines of the industry, so to speak, and they work very hard to make people’s vacation dreams come true. They are a fun group of people that knows how to throw a party and the majority of the conference is sponsored in order to keep the costs down. BuyaTimeshare.com was one of those sponsors and we are very proud to be a supporter of CARE.

The conference opened with a fundraising dinner highlighted by a combined live and silent auction that raised $13,500, which was used to offset conference costs. The first day was headlined by Bill Repp of Selling Smart, who facilitated workshops based on developing relationship-building skills in the workplace. The second day saw the president of the American Resort Development Association, Howard Nusbaum, address the group and discuss ways that the national trade association can help CARE improve its efforts to service its various customer and member bases.

There was also an awards dinner and an off-site reggae party that ended the conference on a perfect note.

So why should I tell you about this and why should you CARE about it? Sorry about the pun – not!

Because it is important for you to know that there are thousands of people who work in the timeshare and vacation ownership industry to make your vacations become reality. When you go searching the BuyaTimeshare.com website for a timeshare for sale or a timeshare for rent, there are not only owners advertising their timeshare on our site, but there are also potential vacationers looking for a great place to vacation. Making the connection between the two sometimes takes industry professionals to make that happen, whether it is our account executive creating the  owner’s ad on our website or a representative from another company working on behalf of a potential buyer looking for a timeshare in a specific location. And every possible scenario in-between.

It really is a great industry to be a part of and we’re having a great time with it.

You can take advantage of these timeshare properties for sale and rent by clicking on the BuyaTimeshare.com website here.

Timeshare Resales Emerges as a Common Theme During the ARDA Convention April 4, 2011

Posted by John Stephens in : ARDA, News & Events , add a comment

Last week, the timeshare industry gathered in Orlando, Fla., for the annual convention of the American Resort Development Association, the national trade association for the timeshare industry.

Our president and CEO, Wesley Kogelman, attended the convention and gave me his insights from the event.

Essentially, it looks like the timeshare industry is rebounding, with the financial sector beginning to thaw and lenders looking to engage the industry once again following the economic meltdown of September, 2008. Wyndham’s announcement of a new $400million term securitization is just the latest example of the brands beginning to attract funding. Whether this translates into job creation and new development remains to be seen, but the trend is encouraging.

Much of the discussion around online solutions, the digital revolution and the impact of social media was the same information that we’ve heard for the last year or so, according to Wes. What we’d like to see is the sessions moving beyond the “you need to engage through online and social media” to “what are the best ways to engage, how can you measure it and is it effective?” So far, they have not addressed these points at the convention.

Case in point was the keynote speech given by Terry Jones, founder of Travelocity. Attendees thought he would be providing tactical insight into incorporating online strategies for hospitality companies. While he did say that 65% of all travel is now booked online, generating $150 billion in 2010, anyone could have guessed that the internet has made a significant impact on travel. But he did say that 20% of all children between 6 and 11 now have cellphones. Gee, I suppose we can start selling to 11 year olds now.

We could have told ARDA and the rest of the attendees that online engagement with timeshare buyers and sellers through the web and social media is a very effective way to engage customers, as we have the numbers to prove it. But that’s for another blog coming up next week.

One area that Wesley Kogelman was very pleased about was the increased visibility for timeshare resales and the desire for the timeshare industry to finally begin talking about the issue in a constructive manner. Not only was there a Resale Forum (which ARDA has held for the last four years) but there were two additional sessions designated for resales along with the topic coming up in sessions ranging from the Luxury Fractional Forum to the Online Results session, the meeting about Postcard Companies and the State of the Industry address.

“It seemed that everywhere you went, someone was bringing up the issue of resales in the context of their session and instead of the usual finger-pointing about whose fault it is, the discussion was balanced and attendees were generally motivated to find solutions,” said Kogelman.

How developers create those solutions is yet to be determined beyond the infrequent in-house program and working with successful online companies such as BuyaTimeshare.com. While more developers seem open to working with companies such as ours, many still seem conflicted and hesitant. The problem is, while they still sit on the sidelines the issue continues and they need to understand that this is a market-driven situation that they cannot control. A timeshare week on the resale market is only worth what someone is willing to pay for it, unlike the artificial new sale prices charged by the resorts with marked up prices to cover the 55% sales and marketing costs which are built into that price point.   

At some point, resorts and developers will realize that transparency has overtaken the timeshare industry, thanks to the internet, and people visiting the resorts often know more about the resort and their sales prices than the salespeople themselves. Developers know how to build great resorts. Online companies know how to engage buyers and sellers in the new online world we live in.

It seems like a marriage made in heaven. Now, if only the developers would come to the altar.

Hawaii Timeshare Tax Bill Passed Out of Committee March 8, 2011

Posted by John Stephens in : ARDA, Hawaii timeshare, News & Events , add a comment

If you’ve been reading this blog for the last couple of months, you know that we’ve been following a legislative issue in Hawaii regarding a potential tax increase for Hawaii timeshare owners.

According to the American Resort Development Association’s Resort Owners’ Coalition (ARDA-ROC), legislation has been introduced in the state House of Representatives and the state Senate which would increase the accommodation tax rate from 7.25% to 9.25% and increase the amount subject to the tax from 50% to 150% of the daily maintenance fee.

The House version of the legislation, HB809, was recently passed out of the Tourism Committee on a 9-0 vote, with the unanimous vote troubling considering the controversial nature of tax issues in the current economic climate.

I understand that many times these bills don’t even get to the voting stage unless the committee chairman knows he or she has the votes needed to pass, which is often why the votes are unanimous. All of the real wheeling and dealing has already been done behind closed doors by the time the bill comes up for “debate” in committee.

However, this issue is not clear cut by any means.

This vote seems to be more of a “pass the buck” procedure, which can happen if legislators feel that the bill could be voted down in another committee. That chance should come up in the next few days as the House Finance Committee is next on the hit parade to take up the measure.  

Industry leaders are against the bill, which Governor Neil Abercrombie called for to help close the estimated $700million state budget deficit. In a recent meeting called by Rep. Tom Brower, Mufi Hannemann, Hawaii Hotel and Lodging Association president, said the Legislature needs to approach the issue carefully because Hawaii is positioned well with the timeshare industry and timeshare is a significant growth opportunity for the state.

“We’re very concerned about this initiative,” Hannemann said.

Lowell Kalapa of the Tax Foundation of Hawaii also sounded alarm bells, saying that timeshare and multi-use resorts are currently the only developments able to get financing for new construction or renovation projects. Kalapa said that “(timeshare) adds to the stability of the market in a time of crisis,” adding that timeshare owners maintained their visits to Hawaii much more than other tourists in the aftermath of the September 11, 2001 terrorist attacks.

“I would think in a down economy the last thing you want to do is raise taxes,” said Kalapa.

Which is exactly the same message that business leaders across various industries have been saying to elected officials throughout the country for the past two years. Let’s hope that the members of the Finance Committee can look to common sense and give timeshare owners a break from any tax hikes.

The debate hasn’t affected demand for Hawaii timeshare, as offers continue to pour in from people looking to buy and rent Hawaii timeshare. There are outstanding deals available on the BuyaTimeshare.com website and you can click here for more information.

Robb & Stucky is the Latest Example of the Rollercoaster Ride of Timeshare February 21, 2011

Posted by John Stephens in : ARDA, News & Events , add a comment

The latest example of the unpredictable nature of the timeshare industry these days can be seen through the eyes of Robb & Stucky Interiors.

Within a seven day span, Robb & Stucky was named as an award finalist for the Resort Design Division of the American Resort Development Association’s (ARDA) annual Awards Program, then announced they filed for Chapter 11 bankruptcy protection.

One week, you’re celebrating the recognition of one of the most prestigious industry award programs in the world. The next, you can’t even write a check to pay the bills.

Is there a more accurate scenario that describes the current state of the timeshare industry?

Industry spokespeople have been telling us for months that things are beginning to turn around. Indeed, tourism numbers are up and optimism has started to return to a timeshare industry that has seen sales numbers plummet by over 30% in one year, in 2009. The industry has started to stabilize. However, there are casualties of the recession and Robb & Stucky appears to be one of them.

Yes, it is too early to tell how this bankruptcy filing will affect the company, if at all. They may come out of it lean, strong and ready for growth. On the other hand, they may never reach the success they once had if the company is sold and new management takes over. This is a business that is dependent on the creative minds that help design the resorts of the future. Brain-drain could be a real problem for them if they cannot afford to keep their best people from leaving their ranks.

Who knows for sure? And that’s the rub for the entire industry at the moment.

According to a recent press release, Robb & Stucky claims that “the company’s Hospitality Design Division has completed domestic and international commercial design assignments for hotels, condominiums, timeshare and fractional resorts located from Denver to Dubai.” This is a well-respected company which has built up years of industry good will and designed some of the top creative projects in the world for name brands such as Bluegreen, Westin, and Hyatt. However, resorts hit the brakes on construction during the recession and new development has not returned. Judging from their latest announcement, renovation work has not been as brisk as first thought, as many of the design and construction companies have been relying on redevelopment to keep them afloat until the new projects are resurrected.

If it can happen to them, then who else could be next?

This is a symptom of an industry just coming off of life support after the train wreck of 2008 and we wish the good people at Robb & Stucky the best of luck.

However, the good news is that the lack of new sales activity puts a premium on the timeshare resale market and the weeks that are available at great prices.

People are still looking to buy timeshare and more potential buyers are discovering the deals to be made on the resale market. You can find those deals on the BuyaTimeshare.com website.

Reaction to Proposed Timeshare Tax Increase in Hawaii February 4, 2011

Posted by John Stephens in : ARDA, Hawaii timeshare, News & Events , 1 comment so far

Last week, I blogged about the Governor of Hawaii’s call to increase taxes on timeshare in the Aloha State. More information has since surfaced regarding the proposal and it didn’t take long for reaction from the industry – in full force against the idea of any additional taxes on timeshare.

According to the American Resort Development Association’s Resort Owners’ Coalition (ARDA-ROC), legislation has been introduced in the state House of Representatives and the state Senate which would increase the accommodation tax rate from 7.25% to 9.25% and increase the amount subject to the tax from 50% to 150% of the daily maintenance fee.

To put this into perspective, ARDA-ROC uses the following example that “under current law, a timeshare owner with a $1000 maintenance fee pays a TAT (transient accommodation tax) of $36.20.  Under the new legislation, the TAT payment for the same owner would be $138.70.  For an owner with a $2,000 maintenance fee, the TAT would go from $72.50 to $277.50.”

“Enough is enough,” said ARDA-ROC Chairman, Ken McKelvey. “We have a responsibility to the more than 1 million timeshare owners who contribute to ROC and the hundreds of Home Owners’ Associations (HOAs) who volunteer and financially support ARDA-ROC for this very reason – to make sure that ’the tax the visitor rather than voter’ mentality doesn’t overtake the rights of timeshare owners.”

This is not only a feeble attempt to help close the $700million state budget deficit, but it’s just a bad business decision. Since when is it a good idea to make a tourism-related product more expensive during an economic downturn?

Oh yeah, I forgot. The economists tell us we’re no longer in a recession. I guess that settles it, then.

ARDA has been fighting against increases to the accommodation tax since its inception in 1998 and has a battle on its hands this time.

The ARDA-ROC Executive Committee has requested that ARDA staff and legal counsel make recommendations of a course of action to fight this legislation and says it will pursue all options to fight this proposal, including litigation.

We applaud the efforts of our industry trade association to fight against these tax increases and ask Hawaii timeshare owners to lobby the state legislators in their resort’s districts to vote against these proposals. You can find information at www.ardaroc.org about how to get involved in the debate.

If you own Hawaii timeshare, don’t be discouraged about these proposals since they have been successfully defeated for a number of years now. Hawaii timeshare is still one of the most sought-after vacation ownership products in the world, with a number of great deals available on the BuyaTimeshare.com website. Click here for more information.