Timeshare

Guest speakers to include a number of CEOs and other major players in the industry.

From today, October 17, through October 19, The Peabody hotel in Orlando hosts the seventh annual Timeshare and Resort Investment conference. This gathering has attracted some of the most successful, high-profile companies and individuals representing the vacation and hospitality industries.

Timeshare owners might find some interesting information in these presentations, but for the most part these sessions are geared toward investors and developers who want to break into this lucrative industry. Fractional ownership, condo hotels and other recent timeshare trends will be explored, as well as legal issues and marketing challenges.

The list of speakers is very impressive, including a number of CEOs from the biggest names in the timeshare world.

As I glanced at the schedule of presentations, I didn’t notice any sessions specifically dealing with industry ethics. It might be a good idea for future conferences to devote more coverage to this issue.

This conference follows close behind the latest Timeshare and Resort Investment conference, held in Dubai in late September of this year. 

For more on the Timeshare and Resort Investment conferences, visit the official site at http://www.timeshareinvestment.com/orlando/orlando.html.

In today’s post, I answer questions about Canadian timeshares, finding the inside story on resorts, and more.

Today’s post is in response to an email I received over the weekend:

Thanks for the helpful information on your website, especially Buying Timeshare FAQs, and the Timeshare Advice link at the bottom of the Why TimeShare page.

I wonder if you could answer a question about the following excerpt from your August 19, 2005 article “Seven Important Considerations When Buying Timeshare on the Resale Market”:

“6. Some timeshare units are inevitably located in a facility that has been partially remodeled. Make sure you’re not paying a new-unit price for an old, beat-up timeshare.”

Having no experience with timeshares, I’m curious as to why, in the scenario you mention, a resort would allow an old, beat-up timeshare to remain that way without being remodeled?  How units are selected for remodeling by a resort?

First, since you are new to timeshares, I recommend that you pick up a copy of Lisa Ann Schreier’s Timeshare Vacations for Dummies. This book is packed with more helpful info than any other print resource I’ve seen. It makes it much easier to deal with a resort or a reseller if you know what questions to ask; it’s a matter of protecting your interests. Even seasoned timeshare pros will learn something from this book.

It’s not often that a resort will expect to reap full sale value for a timeshare in dire need of remodeling, but it does happen. It is important to be aware that not all resorts are created equal. Some resorts still operate by the same guidelines they used in the bad old days of the timeshare industry’s infancy, when customers practically had to be tricked into buying. Though most resorts have discarded this business model, it is absolutely vital to thoroughly research any resort before you buy timeshare.

It is always helpful to hear what other people are saying about the property in question. One good online resource for learning more about a resort is TripAdvisor. TripAdvisor offers lots of travel-related information including reviews of hotels, resorts, and timeshares. These reviews can be quite candid. Keep in mind that TripAdvisor has a very visible online presence, and resorts are not ignorant of this fact; I would guess that a small number of these reviews are written by resort employees looking to either spruce up their own image or denigrate that of a competitor.

I also encourage prospective timeshare buyers to check out the resort in person whenever possible.

I wonder if you’ve considered enhancing your search engine: After entering Canada in the Country field, I was required to click open every (unique) property entry to find out which coast it was on.

While security concerns prohibit me from divulging specific information on this subject, I can tell you that in a short while it will be much easier to get information from our database of timeshares for sale or rent, and this in turn will make it easier to do searches for specific locations (including Canadian timeshares).

In any event, do you have any idea why there are no rentals or units for sale anywhere in Nova Scotia or PEI?

Having spent some time in this part of the world, I find myself wondering the same thing. Canada’s East Coast is a great place to vacation. However, it seems that most resort developers are attracted to destinations with reliably huge demand for timeshares – for instance, Orlando or Cancun. The timeshare market in Canada has grown considerably in the past few years, but this growth appears to be largely limited to British Columbia. Resort development companies might be reluctant to build on the east coast of Canada because they find it easier to impress their shareholders by building resorts in proven resort locations. If statistical data shows that the majority of people would rather spend a vacation in Whistler instead of Halifax, resort developers would naturally be obligated to cater to the location with the greatest demand for timeshares. 

Do timeshare websites such as yours only deal with large resorts?… (vacation clubs, campgrounds) Are there not timeshares for smaller facilities (EXcluding a yacht/houseboat) — even a standalone home?

It is possible to find all kinds of timeshares online. Whether these are exotic timeshares owned and operated by the world’s largest hotel companies, or campground memberships at more modest facilities, there is an almost endless variety of timeshares available.

However, in the resale market, it is easier to find timeshares from large resorts, simply because these resorts are larger. The more timeshare units a resort has, the greater the chances of finding them on the resale market. This is not to say that resale opportunities for timeshares at smaller resorts do not exist; rather, they may be harder to find.

If you can’t find what you are looking for on our site, don’t give up! We know a lot of people in this industry, and by networking all of these resources together we are able to help people find the ideal timeshare or vacation rental. If you fill out our contact form, a representative will contact you shortly.

Thanks very much for your questions! I hope I have answered them to your satisfaction. Tune in next time for timeshare tips, news, and more from the Timeshare Owners’ Blog.

Bluegreen recently purchased an oceanfront resort in Myrtle Beach, and plans to reopen in 2006.

Bluegreen Corporation recently announced in a press release that it has recently purchased an oceanfront resort property in Myrtle Beach, for the express purpose of converting the existing units into timeshares.

The Yachtsman Resort Hotel, a 144-unit, 19-story resort, will be transformed into a new resort, offering one-bedroom timeshares. Once the extensive remodeling is complete, it should be ready to reopen early in 2006.

Included in this deal were timeshare weeks at buildings adjacent to the Yachtsman, as well as a number of timeshare properties along the Gulf Coast of Florida.

Bluegreen plans on changing the Yachtsman’s name to SeaGlass Tower.

Two outdoor swimming pools, an indoor pool, a spa, and several saunas are numbered among the on-site amenities at the new resort. Unit amenities include private balconies, whirlpool tubs, and fully-equipped kitchens.

Bluegreen’s presence in North Carolina comes as no surprise, considering that nearly every big-name resort company is investing in this area. Myrtle Beach is likely to retain its popularity as a vacation destination for many years to come. In proven resort locations, timeshares can bring huge profits to the development companies. What is true of other resort areas is also true of Myrtle Beach timeshare; namely, that the resort companies themselves are not the only ones to benefit from new developments. In proven locations, timeshare resorts can provide the local economy with a dramatic revenue boost, often to the tune of several billion dollars.

For more on this story, check out the original release at http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20051004005513&newsLang=en.

In order to achieve greater vacation flexibility, more and more owners are turning their weeks into points. While this can produce the desired effect, turning weeks into points is not always trouble-free.

In earlier posts, I delved into the subject of timeshare points. Points serve to break up a timeshare interval into manageable fractions, and in some cases can even be redeemed for airfare, car rentals or other vacation necessities.

Seeking the flexibility of a points-based system, some owners want to convert their existing weeks into points. More often than not, a major timeshare exchange company provides this service.

Here are a few things to keep in mind when considering converting your weeks to points.

– If buying points on the resale market, a good starting point is to make sure that these points are transferable. Otherwise, you may be paying a lot of money for nothing at all. This might be an inadvertent mistake on the part of the seller, as he or she might not be familiar with timesharing. It is best to do your homework and get more information from the resort to make sure the points are transferable.

– Most exchange companies require you to be a member before they will process your exchange. Membership usually involves a small fee.

– Week-based timeshare, when converted into points, almost always suffers a decline in value. This situation is exacerbated by points systems which are subject to inflation. Thankfully, some points are inflation-proof. Find out from the seller or the home resort before making the investment.

– Even if an exchange company may gladly convert your weeks into points for a reasonable membership fee, sometimes an individual resort will assess its own fees. These fees range in price, from somewhat reasonable to startlingly cost-prohibitive. This is a hidden cost encountered more and more frequently by resale timeshare buyers. If you are buying timeshare specifically to convert it into points, it is strongly recommended that you contact the resort in order to determine what fees, if any, are charged by the resort under these circumstances. It is possible that hidden charges from an individual resort can amount to more than the (resale) purchase price of the timeshare itself.

Converting your week into points can improve the quality of your vacation experience. Like many things in the timeshare world, it always pays to look before you leap.