Timeshare News
The timeshare industry has a renaissance underway, with Millennials and Gen Zs now representing 57% of the market. Previously, it was dominated by Baby Boomers, who were still a majority of its owners. The rise of booking apps and vacation rentals eroded timeshares’ appeal, but now, it’s back in the spotlight.
Investing in a timeshare could make sense if you are financially stable and can afford the annual maintenance fees. But if you are struggling to make ends meet, it’s not a wise choice.
As a result, many timeshare owners have begun seeking out ways to get out of their contracts and avoid the financial burden associated with ownership. They’ve found that the process can be costly and time-consuming, and that the only way to legally end a timeshare contract is through a legal process like an insolvency proceeding.
There are some good reasons to consider a timeshare, and it can be a great way to travel in a world where fewer people are able to go on vacations or take advantage of travel opportunities. But it’s also important to know that, even though they’ve grown in popularity over the last decade, timeshares can be a dangerous investment, and they should only be made with the proper research and advice.
A Downturn in the Markets
The market has continued to price in a recession, as analysts expect a downturn that would likely cut into discretionary spending by American consumers. The stock of Marriott Vacations, which is one of the largest timeshare operators, has dropped sharply, as investors have beaten down the company’s value on the assumption that consumers would be more careful about their discretionary spending during a downturn.
This might be a problem for timeshare companies like Marriott Vacations, which have a customer base that tends to be higher net worth than the average consumer. The company’s Interval program is a popular option for owners with high-incomes and those who want to be able to trade their timeshare points to get a lower cost vacation every year.
A recent survey conducted by the Timeshare Users Group (TUG) found that 2 out of every 3 respondents owned multiple timeshares. These repeat purchases are a strong indication that people are satisfied with the product.
They’re also a sign that the product has survived a major shift in how consumers vacation and are likely to continue to do so in the future.
Buying into a timeshare seems to be an attractive option because you can pay for the right to stay at a resort for your entire life, but it’s not a good idea for anyone to buy a timeshare without doing their research. Especially when there are so many timeshare scams out there that can cost you a lot of money.
If you’re not sure whether or not a timeshare is right for you, don’t hesitate to reach out to your local real estate agent and ask about a property that you can tour. It’s also a good idea to talk to people who own timeshares, so you can find out what their experiences have been.