Timeshare news is an important part of the industry and it’s a great way to stay up to date on all the latest developments. It can also be a valuable source of information for anyone considering purchasing a timeshare.
In recent years, the timeshare industry has worked hard to rebrand itself and offer more options to vacationers, resulting in renewed interest in the product. As a result, optimism in the industry is back and we expect to see continued growth into 2023.
As with any industry, timeshare sales can be very volatile. However, this doesn’t mean that they should be avoided completely. Rather, it’s important to understand the risks and know what you’re getting into before you sign on the dotted line.
The most common mistake consumers make when buying a timeshare is misunderstanding what they’re actually getting into. The best thing to do is ask the salesperson what he or she really means by “vacation ownership” and make sure you agree to the fine print before you sign on the dotted line.
You should also look out for any promises that you can cancel your contract if you’re not happy with it. These claims often come with high fees and can be very risky.
Another big risk is that you could be stuck in a contract for decades to come. You may not be able to get out if you’re struggling financially or if the market dips in price significantly.
If you have any questions about your contract, the timeshare industry recommends contacting the resort management company directly to find out what their policy is for deed-back or surrender programs. If you’re not satisfied with the terms of your contract, you can end it legally by negotiating a settlement with the resort.
As with any real estate transaction, it’s critical to have a lawyer represent you and help protect your interests. You may also want to consider paying for a specialized timeshare exit company that will handle all of the legal paperwork for you.
It’s a good idea to check out reviews of these companies online and on social media before you decide to hire one. Some are scams, but others are legitimate.
Marriott Vacations Worldwide has been a strong performer in the timeshare industry. This is because the company has a higher net worth than many other timeshare owners and their incomes are usually more insulated from a recession.
This helps keep timeshare financing rates low, which generates revenue for the company. But as the economy gets choppy and interest rates rise, Marriott Vacations’ margins will erode.
On the other hand, if the company can attract a larger share of wealthier travelers to its products, it’s likely to be able to continue growing its business. As a result, investors are lowering Marriott Vacations’ stock price as a measure of their concerns about the timeshare industry’s ability to weather an economic downturn.
As the industry recovers, we can expect to see increased activity among the big timeshare players, such as Disney, Travel + Leisure and Marriott Vacations. As a result, we should see a return to the steady growth of pre-pandemic times.