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.
As riveting as binge watching Christmas movies can be, the looming effects of the pandemic are hard to ignore. In an era where group gatherings are frowned upon, cheer can be very few and far between every holiday interaction. So before it’s all said and done, we hoped to provide you with 10 things to do while the travel industry is shut down.
Ever since we started publishing news articles a few years ago, positive timeshare stories have been few and far between. While there are a few good wins for timeshare owners here and there, we can’t help but notice that there just isn’t much good news to report on in the industry.
Before the world was overrun by the fear of a mysterious respiratory infection, some vacation owners were already at a loss for words. Since purchasing the can’t miss, once-in-a-lifetime product, many have awaited the experience they were promised.
After years of awaiting restitution and watching their lawsuit disappear, Marriott timeshare owners are back for vengeance. On the 20th of last month, former class members, alongside their representation, plead with the 11th circuit court to revive their dismissed ruling and reopen the arranged Marriott lawsuit immediately.
Aggressive timeshare sales pitches aren’t anything new. For decades now, vulnerable consumers have been gullible enough to sign up for a lifetime agreement they weren’t actively searching for – and frankly, never needed. Like we’ve mentioned before, popular tourist locations, like Las Vegas, have become a hotbed for misleading timeshare appeal.
The latest timeshare company to land on our news desk is facing another class action battle for alleged planned contract omissions. While Wyndham Vacations is no stranger to controversy, this accusation is a little more aggressive than past claims.
As our country remains at somewhat of an economic standstill, most consumers are still holding onto hope that things will eventually return to “normal.” When it comes to vacation owners, many are simply trying to figure out if timeshares will ever be worth it.
