Newsletter

HVS Expands Don Stephens Jr.’s Role to Lead Shared Ownership Services as Gary Johnson Retires

April 16, 2026
HVS announces an expanded leadership role for Don Stephens Jr., who will now serve as Managing Director of Shared Ownership Services. Don is expanding his leadership responsibilities to include the Shared Ownership division while also continuing his complex advisory work. He succeeds Gary Johnson, who will retire after two decades of leadership in Shared Ownership Services.
DENVER, CO, April 16, 2026: HVS announces an expanded leadership role for Don Stephens Jr., who will now serve as Managing Director of Shared Ownership Services. Don is expanding his leadership responsibilities to include the Shared Ownership division while also continuing his complex advisory work. He succeeds Gary Johnson, who will retire after two decades of leadership in Shared Ownership Services.

This shift comes at a pivotal time, as demand patterns and investor expectations in shared-ownership and mixed‑use resort development continue to evolve. According to ARDA’s 2025 State of the Vacation Timeshare Industry report, U.S. timeshare resorts achieved an 80% occupancy rate in 2024, significantly outpacing the traditional hotel sector’s 63% occupancy average. This performance underscores the strength and resilience of shared‑ownership assets.

“As the shared ownership sector evolves, Don’s leadership brings the ideal combination of vision, analytical rigor, and international experience,” said Rod Clough, MAI, CRE, MRICS, President of HVS Americas. “His deep background in hospitality, including branded residences and mixed‑use development advisory, directly aligns with HVS’s mission to help clients move forward with clarity, confidence, and stronger project outcomes.”

A respected industry veteran, Don brings a depth of experience across the hospitality industry. His work spans valuations, market studies, feasibility analyses, highest‑and‑best‑use evaluations, and strategic consulting assignments for resorts, hotels, golf developments, and hospitality‑anchored mixed‑use projects. He has served a wide client base that includes financial institutions, government agencies, developers, major corporations, and legal and accounting professionals.

“I’m honored to take on expanded leadership responsibilities for Shared Ownership Services at a moment when development complexity and investor expectations are rapidly changing,” said Don. “Throughout my career, I’ve seen how the right insights and the right partners can transform a project’s trajectory. HVS has built trusted relationships across the industry, and I look forward to helping clients leverage those insights to achieve stronger, more strategic outcomes.”

Gary Johnson will retire in July 2026, concluding 20 years of shaping valuation and consulting efforts across private residence clubs, fractional developments, timeshare projects, and major vacation ownership brands. His leadership helped shape HVS’s reputation as a premier advisor in the shared-ownership and mixed‑use resort sector, with work spanning multiple countries, and clients ranging from developers to operators and lenders. His influence and expertise leave a lasting legacy that will continue to shape HVS’s advisory approach for years to come.

The division’s leadership continuity ensures that HVS clients will benefit from both seasoned guidance and fresh strategic perspective.

About HVS Shared Ownership Services

Clients turn to HVS Shared Ownership Services to gain clarity, confidence, and direction in mixed‑use, vacation ownership, fractional, and resort real estate investments. With decades of global insight, HVS helps your team understand market potential, evaluate feasibility, and shape development and deal strategies that strengthen your project’s long‑term performance. You benefit from access to industry‑leading expertise, deep relationships across major timeshare brands, and guidance that accelerates the pre‑development and planning phases. For further information regarding HVS’s expertise and services, please visit hvs.com.
Newsletter

HVS Expands Don Stephens Jr.’s Role to Lead Shared Ownership Services as Gary Johnson Retires

April 16, 2026
HVS announces an expanded leadership role for Don Stephens Jr., who will now serve as Managing Director of Shared Ownership Services. Don is expanding his leadership responsibilities to include the Shared Ownership division while also continuing his complex advisory work. He succeeds Gary Johnson, who will retire after two decades of leadership in Shared Ownership Services.
DENVER, CO, April 16, 2026: HVS announces an expanded leadership role for Don Stephens Jr., who will now serve as Managing Director of Shared Ownership Services. Don is expanding his leadership responsibilities to include the Shared Ownership division while also continuing his complex advisory work. He succeeds Gary Johnson, who will retire after two decades of leadership in Shared Ownership Services.

This shift comes at a pivotal time, as demand patterns and investor expectations in shared-ownership and mixed‑use resort development continue to evolve. According to ARDA’s 2025 State of the Vacation Timeshare Industry report, U.S. timeshare resorts achieved an 80% occupancy rate in 2024, significantly outpacing the traditional hotel sector’s 63% occupancy average. This performance underscores the strength and resilience of shared‑ownership assets.

“As the shared ownership sector evolves, Don’s leadership brings the ideal combination of vision, analytical rigor, and international experience,” said Rod Clough, MAI, CRE, MRICS, President of HVS Americas. “His deep background in hospitality, including branded residences and mixed‑use development advisory, directly aligns with HVS’s mission to help clients move forward with clarity, confidence, and stronger project outcomes.”

A respected industry veteran, Don brings a depth of experience across the hospitality industry. His work spans valuations, market studies, feasibility analyses, highest‑and‑best‑use evaluations, and strategic consulting assignments for resorts, hotels, golf developments, and hospitality‑anchored mixed‑use projects. He has served a wide client base that includes financial institutions, government agencies, developers, major corporations, and legal and accounting professionals.

“I’m honored to take on expanded leadership responsibilities for Shared Ownership Services at a moment when development complexity and investor expectations are rapidly changing,” said Don. “Throughout my career, I’ve seen how the right insights and the right partners can transform a project’s trajectory. HVS has built trusted relationships across the industry, and I look forward to helping clients leverage those insights to achieve stronger, more strategic outcomes.”

Gary Johnson will retire in July 2026, concluding 20 years of shaping valuation and consulting efforts across private residence clubs, fractional developments, timeshare projects, and major vacation ownership brands. His leadership helped shape HVS’s reputation as a premier advisor in the shared-ownership and mixed‑use resort sector, with work spanning multiple countries, and clients ranging from developers to operators and lenders. His influence and expertise leave a lasting legacy that will continue to shape HVS’s advisory approach for years to come.

The division’s leadership continuity ensures that HVS clients will benefit from both seasoned guidance and fresh strategic perspective.

About HVS Shared Ownership Services

Clients turn to HVS Shared Ownership Services to gain clarity, confidence, and direction in mixed‑use, vacation ownership, fractional, and resort real estate investments. With decades of global insight, HVS helps your team understand market potential, evaluate feasibility, and shape development and deal strategies that strengthen your project’s long‑term performance. You benefit from access to industry‑leading expertise, deep relationships across major timeshare brands, and guidance that accelerates the pre‑development and planning phases. For further information regarding HVS’s expertise and services, please visit hvs.com.