Timeshare News – Don’t Get Rid of Your Timeshares

timeshare news

As the world’s economy continues to struggle and prices for airfare, hotels and gas skyrocket, timeshare owners might be wondering whether they’re being ripped off. But the truth is, timeshares are a great way to beat travel inflation. As the Wall Street Journal reports, timeshares provide a lifetime of vacations for one up-front price. That might be a lot of money, but it’s also far less than the cost of booking multiple trips each year at regular rates.

As timeshares continue to evolve, the industry has worked hard to build consumer trust. Newer models are based on points that can be redeemed anywhere in the network, instead of at a specific resort. While some might see this as a shift away from traditional ownership, most customers say that the new system makes it easier to plan vacations and save money.

Inflation is a big concern for many consumers, and that’s not lost on Hilton Grand Vacations, the company that bought Diamond Resorts in 2021. The company has been working with regulatory agencies to ensure that timeshare companies are held to high standards for sales and service. It’s not just about timeshares though, the company has also been active in the fight against fraudulent third-party exit companies.

The Treasury Department’s Office of Foreign Assets Control, or OFAC, recently slapped sanctions on a number of individuals and Mexican tourism and real estate companies linked to timeshare fraud in Puerto Vallarta. The sanctions freeze the assets of the entities involved, and prevent U.S. citizens from dealing with them. The designations come as the FBI warns that scammers are targeting Americans who are seeking to sell their timeshares in Puerto Vallarta.

Kate and Jim LaValley wanted to get out of their timeshares after a decade of paying maintenance fees and hefty resale costs. But it wasn’t easy. First, they had to figure out how much their timeshares were worth, and then they were faced with the three-day right-to-cancel law that comes with each timeshare contract. So, they decided to fight back. Kate and Jim ruled out resellers, and then took their battle to the timeshare company. They ended up getting out of their timeshares, but not without a lot of heartache and some cash outlay.

John Oliver has weighed in on the ongoing war over timeshares, and he’s not impressed. He says the shame should not be on people who feel duped by the industries that exploit them, but rather on those companies who take advantage of consumers in such a massive way. The same goes for timeshare exit companies, which he calls “total bullshit”. If you’re thinking about selling your timeshare, check out these tips. And remember that when it comes to any business transaction, buyer beware!

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