John Spence, the entrepreneurial chairman and owner of Karma Royal Group, celebrates 25 years in the industry this year. Spence’s career spans a humble beginning to a 17-resort group with no debt today, and Paul Mattimoe reviews those 25 years.

Paul Mattimoe:
25 years, 17 resorts and no debt –how does it feel?

John Spence:
I feel a sense of achievement. However, I also believe in the philosophy of “keeping it simple.” For me the simple fact is that we are a sales driven company. It is our ability to sell day in and day out which has enabled us to be where we are today.

Is this a mission statement?
Most definitely. Our mission statement is “We Create”:
• We create products which people enjoy.
• We create sales and profit.
• We create customer satisfaction.

Where is Karma Royal Group today?
We are expanding. My favorite quote is the Warren Buffet saying “when people are greedy be fearful and when people are fearful be greedy.”

I see the current climate being good for the group. We can acquire assets at realistic prices. We are presently reviewing land and resort and sales and marketing opportunities in Bahamas, Canada, Philippines, Croatia and Sri Lanka.

I am in a mood for expansion. Greedy.

Where did all start?
As a sales rep in Tenerife for Global Group. I started in 1985 at Sunset Bay in Tenerife. I worked my way up within Global.

What did you learn in those early years?
Probably the need for ethics above all else. Ethics and integrity have been the cornerstone of my timeshare career. I was very disappointed at the direction the industry took in those days. Particularly the “big sale” scam. While I was in charge of Global I never allowed the sales department to take us down that route.

You became something of a leading figure in European timeshare. You were vice president of Global – the largest and most successful timeshare company in Europe. And yet in 1993 you gave it all up. Why?
Two reasons really. First – although I was instrumental in building Global and its value I had no equity, no shares, options, etc. and I was discouraged by that. A lesson I have learned in business is that the strongest motivating factor of all is personal enrichment. Hence in KRG I have not made the same mistake.

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Tags: Bahamas, Canada, Croatia, Global Group, Goa, India, John Spence, Karma Royal Group, Karma Spa, Philippines, Sri Lanka, Tenerife, Timeshare