Timeshare Market Changes
Dramatically!
Al
Lewis, a syndicated business writer from Denver, recently wrote a
story on the changing timeshare industry which the Tuesday Report
covered last week when reporting on Marriott International’s
decision to leave the industry.
According to Lewis, the recession has ravaged the timeshare market
and there are no signs of any more free-spending buyers. Lewis
contends that anybody who buys a timeshare from a developer is the
victim of an aggressive sales seminar. Today, it’s quite easy to go
online and find thousands of timeshare owners trying to sell their
timeshares for a fraction of what they paid. Lewis says he sees them
listed for $1.00
Timeshare owners today are increasingly not paying their annual
maintenance fees, which forces resorts to hike fees on the owners
who still pay. A classic catch-22 position that could see fees going
even higher.
How
bad has it gotten? Lewis says there are now seminars for timeshare
owners telling them how lousy timeshares are, how they’ll never be
able to sell it, and that their children will be burdened with it
for the rest of their lives. Then, finally, the final pitch — give
them your timeshare and $3,000 to get it off your hands. Welcome to
the changing timeshare world.
