European Timeshare Consumers Get a Hotline

That's right -- recent events in the UK timeshare industry have led to the emergence of a new consumer resource with an informative hotline. The OTE has joined forces with the TATOC (Timeshare Association of Timeshare Owners Committees) in an effort to crack down on scams and to promote consumer education and intelligence:

The Timeshare Consumers Advice Line (http://www.timeshareconsumeradvice.uki.net) has launched an advice line and web site for people buying or reselling timeshare properties

...as a member of the OTE, Timeshare Computer Link Ltd has setup an advice service beyond its normal timeshare resale activities. timeshareconsumeradvice.uki.net provides information on the best ways to buy or sell a timeshare property, along with, when ever possible, advice on getting the most out of timeshare holiday ownership.

More information can be found here www.timeshareconsumeradvice.uki.net alternatively you can call the advice helpline on 01926 84 42 42.

From PRWeb: http://www.prweb.com/releases/timeshareconsumeradvice/tca/prweb1231294.htm

Contradictions Abound: Wyndham Reports Slump

The timeshare industry has seemingly carved an all-but-unique bubble in the recent real estate downturn, floating unscathed to everyone's bewilderment. However, it was bound to slow at some point, and Wyndham Worldwide has just released what is likely the start of an industry wide trend.

We must bear in mind that Wyndham also franchises hotels, and their earnings are not itemized in the following reports. However, on the whole it is a safe assumption that US families are finding vacation time less and less crucial -- probably due to rising gas, food, and overall cost of living prices.

AP also reported that Starwood Hotels have seen a 28 percent decline in timeshare revenue during the second quarter of 2008. AP analysts "have expressed concern about timeshare sales, particularly after Starwood's second-quarter declines."

STOCK PERFORMANCE: Wyndham shares lost about 13 percent in the quarter, closing at $17.91 on June 30. During the past 52 weeks, the stock has fallen from a high of $36 last August to a low of $14.62 in mid-July.

http://money.cnn.com/news/newsfeeds/articles/apwire/8ff43b93985ca009455d544312a85fe7.htm

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Timeshare Sales...UP?

Apparently they are, but there's an explanation: timeshare resales are booming.

The blogosphere has been buzzing with this news lately, but Timeshares Daily has the scoop:

In a study released last week by the American Resort Development Association (ARDA), research prepared by Ernst & Young, LLP, shows that sales of new timeshares increased by 6 percent in 2007 over the previous year, totaling $10.6 billion in the US alone. Although gains were less than in previous years, the sale of new timeshare from 2003 to 2007 has increased by an amazing 66 percent.

But why?

Howard Nusbaum, ARDA president and CEO, says, "The continued growth of the timeshare industry in today's economy is a direct indication of strong consumer satisfaction and demand. Vacation ownership, with its flexibility and spacious accommodations, continues to be a preferred travel choice for American families."

The problem with this explanation, however, is that is doesn't make sense. Preferred choice or not, every area of the economy is feeling the pressure from recent issues, and travel seems a likely target for cut-backs -- especially considering the price of gas. But, Jason Trembley of Sell My Timeshare has another explanation:

"As good as the numbers sound for the sale of new timeshares, the report doesn't mention the huge segment of the timeshare industry that deals with timeshare resales, and that side of the business is really booming."

Of course. It would make sense that resale numbers are up, since owners are probably dropping extraneous expenses. Those that still can afford timeshare, then, are cleaning up in the aftermarket.

Information on the numbers of people buying resale timeshare is limited because the secondary market includes individual timeshare owner transactions as well as sales consummated by traditional industry specialists. In 2005, 7.2 percent of buyers bought timeshare from an existing owner, according to an ARDA profile of vacation owners. While this indicates a resale industry in the hundreds of millions of dollars, these figures are very conservative, as the survey did not include alternative sales methods such as the Internet.

We doubt the timeshare industry will be entirely immune to recent economic difficulties, but for now it seems to be carving out a pattern all its own -- which, for the industry, is very common.

The New Timeshare Relief Home!

We've recently updated our website and we invite you to take a look:

www.timesharerelief.com

The site is now more interactive, with registration functionality and a contact form for online support.

Paradise or Dystopia?

A Forbes article this week by Lisa Smith weighs the pros and cons of timeshare ownership, with plenty of great tips along the way. Much of it is along the lines of what we've been telling you all along, but it certainly bears repeating...

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Remember, timeshare salespeople are in the business of selling. But just because they tell you that you are getting a great deal, doesn't mean that you really are. Before you buy, take some time to research the property and talk to other timeshare owners. Don't make your decision in haste and never let the salespeople rush you.

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In addition to the monthly loan payment, which comes with a high interest rate when financed through the timeshare company, the annual maintenance fee will also set you back a few hundred dollars a year. Also, if the property needs a new roof or a new sewage line, a "one-time" assessment will be levied. Some properties also charge miscellaneous fees, such as a "publications" fee if you want to view other properties that may be available for trade, and additional fees if they help you sell your property.

While a lifetime of vacations sounds great, will the management company that sold you the timeshare be around three decades from now?

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Like any major purchase, the decision to buy into a timeshare is a decision that requires careful consideration. It involves a large amount of money up front and considerable recurring costs. You should ask plenty of questions, take your time before making a decision and as the Federal Trade Commission (FTC) says in its Facts for Consumers, "You should know that the value of these options is in their use as vacation destinations, not as investments."

Read it here

Branson Fights Back

According to a story published this morning in the Branson Daily News, Branson, Missouri is altering its solicitation laws to combat timeshare companies with allegedly predatory offers.

A few timeshare companies, such as Branson Highlites, bring in much of their business by standing outside their properties and offering passers-by free show tickets if they tour the units. This practice has operated in a legal loop hole, until now.

If only similar laws were passed in regards to larger timeshare companies and their "free weekend getaway" offers. As a company representative in the article mentions below, most timeshare business is snared in this manner.


[From the Original Article]


“All we’re doing is creating a definition that will bring in a free-ticket scenario,” City Attorney Paul Link said. “I think people were unaware of what the law was. Under the current code, if the person soliciting or the person solicited are on public property, it is unlawful.”

“If they change this, they might as well put a lock on our door,” said Jackie Stephenson, owner of Branson Highlites on Main Street. We stand in the doorway, we greet the people and we do have free tickets. They come in and get them. We do offer, ‘Hey folks do you want to go on a tour?’ They do say ‘yes’ or ‘no.’ Obviously, we have quite a few who say ‘yes’ or we wouldn’t have been in business for five years in this town.”

The city reevaluated its law based on complaints that salesmen were chasing shoppers down sidewalks.

“They believe it’s hurting their business because of that,” Branson Sgt. Sean Barnwell said. “They say they’re having issues not only with (customers) getting agitated, they’ll skip their store.”

Some downtown business owners say aggressive timeshare salesmen are bad for business.

In the short time she’s been in business downtown, Monica Rhodes, co-owner of Pinkiedinks Cupcakes, has seen potential customers flee from persistent salesmen, she said.

“I had to tell one of them — a guy on the corner — to stop,” Rhodes said. “People are trying to get away from them and they run right past our store. They aren’t even looking at our stuff.”

Alderwomen Cris Bohinc and Sandra Williams said they’ve both been harassed by salesmen downtown.

“I do not know what particular business is doing this,” Williams said. “I do know they have approached me several times, that they have followed me down the street. So if I was downtown to do any business, I didn’t do the business because I wanted away from them.”

Downtown Monday afternoon, Pat and Bob Eastwood of Cherry Hill, N.J., said all was quiet.

“We’ve been all up and down the streets and haven’t been approached,” Pat Eastwood said.

Stephenson said she’s fired renegade salesmen in the past.

“Dog gone right I have. We’ve let a few people go because they were too aggressive,” she said. “They’re not allowed to leave my property, ever.”

Stephenson said she realizes the timeshare industry is sometimes looked down upon but hopes she can keep doing business downtown.

“I know a lot of people don’t like my business, don’t like timeshares, but it brings a lot of business to Branson,” she said.

Quotes from "Branson defining ‘solicit’" by Chad Hunter