Consumers that have come to hate a timeshare purchase often initially wonder how timeshare companies remain in business. But they don’t have to think long or hard to realize their disgust is rooted in an unfavorable, oftentimes perpetual contract that doesn’t allow them to easily get out of their obligations.
In 2019, we published an article that covered the BBB’s constant efforts to diminish timeshare exit fraud in Southwest Missouri. Around the same time, the consumer driven platform also issued a warning about a local Springfield operation, Relief Solutions International LLC (RSI). Today, the entity is still a problem..
After covering a few more of our client’s stories, we thought it’d be a good idea to see what other publications are doing about the timeshare crisis today. But after inspecting some of the advice that’s possibly directing thousands of vacation owners, we had to step in. You see, not all online information and bias can be completely trusted today.
Before the nation was completely swept by travel restrictions and mask mandates, The Better Business Bureau (BBB) was already warning timeshare owners about potential scams. Now that a majority of timeshare sales teams have been let go, this threat is even more heightened. So let’s see what they had to say about it all..
Last week, we published the introduction to an amazing story about a young family who was swindled into timeshare ownership during a pandemic. Not only did Edwin and Maria repeatedly reiterate their disinterest, they almost begged sales reps to leave. But instead of enjoying the remainder of their mask mandated vacation in Vegas, the family was met by another unrelenting offer.
Vacation ownership has changed drastically over the past 10 months. Even if you know nothing about the industry, it’s easy to understand the burden of those paying for something they cannot use. At the same time, timeshare travel has been on a steady decline for years now.
Now that the pandemic has run rampant for almost a year, the disadvantages timeshare owners face is beginning to surface. While it’s easy to criticize every action that major resorts are taking (or not taking), it doesn’t provide consumers with much – outside of awareness. So, we decided to start sharing the stories of vacation owners.
The idea of conjoining losses to increase future profits is beginning to gain steam among timeshare companies in 2021. After dismal profits last year, stakeholders are pushing hard for a bounce back. This week, Marriott and Welk Resorts announced a pending acquisition that also puts the remainder of the industry on notice.
Leading up to the revelation of COVID-19, a good percentage of vacation owners were already struggling to enjoy their perpetual timeshare agreement. Whether minimal availability or an excess in unexpected fees was the culprit, it’s safe to say the product hasn’t rewarded everyone.
Before the pandemic even started, and timeshare resorts found themselves in a backpedal, Diamond resort owners were already feeling a little slighted. According to a 91-page class action lawsuit that was proposed this past August, Diamond (DRI) has supposedly been billing its members for the “burden of operating expenses” with “inflated annual fees” in an “unlawful” fashion.
In what could be a year of limited resources, losses and compiled debts; hope is most certainly fleeting. At the same time, this is America. Unlike other countries throughout the world, capitalism is supposedly on our side. Many of us are equipped to not only help others through tough times, but progress monetarily. All you need is your back against the wall to make something happen.
While many of us will be able to pick up where we left off, some are simply hoping they’ll be able to pick up the pieces. Those that lost tenured jobs (especially in the travel industry) will struggle– especially if travel restrictions remain. Because of this, resorts like the Marriott Beach Club in Hawaii are processing more layoffs to kick off the New Year.
One of the most prominent and profitable timeshare companies in the world just made sure the industry knew they’re looking to dominate the future. After laying off 116 employees right after the pandemic ensued, Wyndham is sending $100 million to Travel + Leisure to expand its online sales reach.
Last week, we talked about making the most of your missed Christmas vacation. This week, we thought we’d help you out over the next few months. Whether your timeshare is off limits or you’re unable to go anywhere at all, there are tons of things to do in 2021 to pass time during the slow-drip torture of this pandemic.
Since we’ve covered a majority of the timeshare problems in the States, we thought it’d be beneficial to see how grounded vacation owners are doing overseas. But it appears they’re dealing with the same set of issues. Remember Marriott’s data breach that we wrote about in the beginning stages of the pandemic? Well, millions of their former guests are not very happy about it.
