Beware of misleading sales practices when buying timeshare directly from a resort in Mexico (or anywhere else).

“Forewarned, forearmed; to be prepared is half the victory.”
– Miguel de Cervantes 

In this business, we hear all kinds of stories about timeshare resorts all over the world. Some of these reports are positive, whereas others shed light on some of the least-favored sales tactics practiced by timeshare resort salespeople.

We hear very few complaints about the timeshares themselves. This is because timeshare resorts are serious about what they do, and they almost universally offer a quality product. On the other hand, we do hear a lot of stories about how misleading sales practices cause major problems. Each day, more and more people become entangled in a timeshare agreement which turns out to be more of a burden than a boon.

Fortunately, there is hope. Armed with the right knowledge, a smart buyer can avoid this predicament entirely.

For an example, we need look no further than Mexico. A lot of non-Spanish-speaking Americans find Mexican real estate law to be extremely confusing at the best of times. This condition is often exploited in what is referred to as a “classic” timeshare sales scam.

 For those of you who don’t know, a cooling-off period is the legally-mandated grace period, during which a timeshare buyer has the right to cancel the purchase agreement without fear of penalties or charges of any kind. In Mexico, the buyer has five days to cancel a timeshare agreement.

Cooling-off periods are fairly standard in the timeshare universe, except in some countries where timeshare development is not an established industry. Clearly, Mexico is not one of these countries. There have been many timeshares in Mexico for years now. By law, in Mexico, you cannot waive your five-day cooling-off period. Any contract which tries to get you to do so is defying the law.

Solution: find a Mexican timeshare for sale on the resale market. Mexican resorts are breathtaking, and luxury timeshares are often available for far less than new units from the same resort. Additionally, the market conditions currently favor timeshare buyers, meaning that there’s a large number of properties from which to choose. Best of all, you don’t have to attend a presentation unless you want to.

if you must buy a timeshare directly from a Mexican resort, do not sign any paperwork which waives your right to a five-day cooling-off period. Make sure you can fully understand the terms of any contract or other document you are asked to sign. In many European countries, the law states that a timeshare purchase agreement must be drawn up in the buyer’s native language. In Mexico, however, this may not be the case. Enjoy the tour, but use caution!

For more information on deceptive timeshare resort sales in Mexico, go to http://www.mexicantimesharefraud.com/

India’s government is serious about expanding their already-growing tourism industry.

The November 19, 2005, edition of Business Line, (the financial daily from Hindu Group Publications) quoted B.S. Rathor, Chairman and Principal Advisor of the All India Resort Development Association (AIRDA), who said that timeshare in India has entered a new growth phase. Between 2002 and 2005, the compounded annual growth rate (CAGR) of India timeshares reached nearly 20 percent. Rathor, and other industry experts, believe government guidelines permitting the mixed-use of resort properties as both timeshares and hotels has been a positive factor in this growth.

Expect to see marketing offices for one of India’s largest timeshare developers, Mahindra Holidays & Resorts India Ltd., opening in the US by April. New Jersey, Washington DC, and Maryland are planned locations.

According to Ramesh Ramanathan, Managing Director of Mahindra Holidays, the company’s US offices will be targeting US residents of Indian heritage. They will market their resort properties by focusing on timeshares as a way for those with relatives in India to visit and maintain ties with their culture and their families. India has used the timeshare industry of the US as a role model for their own business, including new interest in India fractionals based on the success fractionals have enjoyed in the US.

Just how serious is India about expanding their tourism market? In February of this year, India’s Finance Minister, P. Chidambaram announced the nation’s intent to support the new or furthered development of 15 tourist destinations, establish 4 new institutes of hotel management in the States of Chhattisgarh, Haryana, Jharkhand and Uttaranchal, as well as develop programs to better identify and market village crafts and products to the tourist market.

India’s economists and national leaders obviously recognize that now is the right time for India timeshares.

Timeshare industry leaders will meet in Dubai to chart a path as industry prepares for serious growth.

Resort Condominiums International’s (RCI) Middle East operations headquarters is now located in Dubai. From their offices, they oversee all of their rapidly growing timeshare business in India, China, the Middle East, East Africa, and Turkey. It is no coincidence that the April 2006 international timeshare symposium, hosted by RCI (Cendant) and Ragatz Consulting, will he held in Dubai—at the hub of much of this growth explosion.

Global timeshare industry specialists have great expectations for timeshare development in Dubai, India, and other parts of the region. During this year’s symposium, entitled “New Horizons in Shared Ownership,” officials are expected to voice timeshare industry growth expectations of more than of 50% over the next five years, with India and Dubai being pacesetter locations expected to see the greatest increases.

Preben Vestdam, President and CEO for Europe and the Middle East (RCI) says, “(timeshare) is a brilliant business model for Dubai when you think of the volume of real estate. In this region, in 10 years time, I can see there being an additional 500-1,000 timeshare resorts.”

The symposium expects to attract business investors, real estate developers, and international specialists from the timeshare industry.

A timeshare leader in India announces major expansion plans.

Mahindra Holidays & Resorts India Ltd., an RCI affiliate, currently offers 14 select properties in India. 2006 will bring the addition of three new resorts to this list; one in Rajasthan, one in Himachal Pradesh, and a signature resort to open by the end of the year in Corbett. Long-term company expansion includes plans for as many as 10 to 12 additional resorts in India within the next four years, and future growth in Thailand, Sri Lanka, and the Maldives.

The resorts of Club Mahindra offer a range of holiday destinations. Lake View Munnar is a mountain retreat located near Echo Point and the Rajamala-Eravikulam National Park, while the Varca Beach Resort near Goa provides a true tropical paradise with palm trees, water sports, fresh seafood, and spa amenities. All present and planned Club Mahindra Holiday resorts include timeshares as well as hotel accommodations, making it easy for you to ‘try before you buy’ and creating maximum flexibility for developers to offer the fullest range of amenities.

The cost of a timeshare week in India averages between $3400 USD and $17,000 USD. Timeshare in India, as in many countries, represents the fastest growing segment of the tourism industry.