The timeshare industry is a juggernaut, generating some $9.4 billion a year and contributing to the economic well being of the eurozone in the process. There are more than 6 million timeshare owners in the EU.
As you may have guessed, the timeshare craze is not going anywhere anytime soon. While the neophyte may not be privy to the same highs and lows as those that have been around for the last few decades, it is still in the business of pleasing the consumer. Despite the fact that the latest and greatest timeshare may be hard to come by, it is still possible to find an upscale resort or two, provided that you know where to look. This means that if you are a member of a reputable vacation club, you should have no trouble acquiring a spot at your dream vacation destination.
One of the most important questions to ask when considering a timeshare is what is included in your package. To ensure that your travel arrangements are as hassle-free as possible, it pays to do your homework before making your final payment. The key is to get a feel for the timeshare’s financial health as well as its operating model, and how it plans to cope with changing consumer preferences and the upcoming European recession.
A good way to start is by examining the company’s financial performance over the past year. Marriott Vacations has performed particularly well, having a notably lower delinquency rate and default rate compared to some of its predecessors. If you are planning to purchase a timeshare, it is important to be aware of these factors to ensure that you are getting a fair price for your hard earned money. Also, you should be prepared for the possibility that your chosen resort may be unavailable at the time of your trip.
Similarly, it is important to recognize the true costs of maintaining your timeshare, and whether you should consider a lease or an ownership agreement. For those looking for a long-term solution, Marriott Vacations’ Interval may be the best bet.