The Coronavirus has created quite the stir in the travel industry since March. While millions of travelers have been inconvenienced, none should be more disturbed than the timeshare owner. Some have been paying thousands of dollars to their respective resorts for decades now – only to be left without answers and a financial option for relief.
The simple fact that predatory agencies have an ability to target and communicate with most timeshare owners at any given point in time is concerning to say the least. Online promotions and ads for timeshare relief can be extremely luring for unhappy owners. Especially when they’re desperate for a way to escape their timeshare agreement.
In the timeshare industry, truth can sometimes be scarce. The problem is, not many vacation owners notice until it’s too late. There are hundreds of websites out there that serve millions of misleading advertisements geared towards timeshare owners.
Now that this pandemic has reached a point of no return, the general public has started to prepare for the aftermath of an economic crisis. Although timeshare companies were rather quiet during the first few weeks of the nation-wide quarantine, they’ve been adamantly working behind the scenes on a plan to sustain their business model.
Social distancing has been a worldwide phenomenon for more than a month now. Billions of people are grounded, waiting on government aid to revitalize their hope. Now that the Coronavirus has everyone’s attention, certain expenses are being looked at through a different lens – and decisions are being made to a different tune.
Over the past few weeks, we’ve been talking a lot about the realities and possibilities of vacation ownership during a global pandemic. As we head into month two of our country’s attempt to slow the spread of the coronavirus, it’s becoming more apparent this isn’t going to be a temporary thing.
Over the past few weeks, we’ve been sharing a few hypothetical situations that vacation owners should most certainly consider. While it’s still difficult to tell when travel bans will be lifted or the economy will reopen, it’s safe to say that the hospitality industry will incur quite a bit of loss.
A global pandemic isn’t exactly something you can anticipate or really even prepare for. Within weeks, each of our lives have been altered in some way shape or form. No matter how social you were before, we’re all getting used to the disappearance of familiar faces and places.
Although it may be difficult to make a timeshare payment right now, facing reality can help you avoid a number of devastating outcomes. At some point, the resort has to acknowledge the aftermath of a pandemic. Staying in communication with them is the best thing you can do – even if making payments isn’t an option.
Owning a timeshare during this COVID-19 outbreak can be a tough pill to swallow. Especially if you’ve yet to use your weekly interval. Aside from the closing of several resorts, travel restrictions are now in place. But for some, using the timeshare while they still can is a priority. You might even be in the middle of your vacation right now.
As we enter a time in history that most have never seen before, luxury items tend to lose their luster. Although the closing of restaurants and local entertainment venues forces us to avoid indulgence, we’re also forced to look at our expenses. When it’s difficult to obtain basic needs like food, water, milk and toilet paper – our priorities shift tremendously.
When you’re able to control the marketplace with prominent government figures, businesses and investors at your back, greed tends to steer the ship. Before the timeshare market dries up completely, those involved want to make sure they’re able to collect every last drop of potential profits.
Uncovering the intentions behind most timeshare entities is quite difficult. Truth be told, it can be quite discouraging too. There is a lot of noise that overpowers the fact that buyers are suffering while timeshares are thriving. Last July, ARDA reported that the timeshare industry made $9.6 billion in 2017 – more than any previous year.
While the timeshare purchase is sold as an affordable expedition with ideal dates that are too good to pass up – you must understand that you’re still going to pay a premium to vacation this way. Nothing is guaranteed unless it is in writing and you should remain skeptical until evidence is presented or you’ve had time to compare your options.
No matter how good the sales pitch is, you have to take the time to research timeshare exit opportunities. On the surface, many scams seem legitimate, but are really a mirage. Those willing to investigate leadership, employee reviews, past partnerships and the business’ reputation are usually glad they did so.
