7 of top 10 Hispanic travel destinations are also top US timeshare locations.
According to booking data released by Hotels.com, seven of the top ten vacation destinations selected by Hispanic travelers who reside in the United States are all destinations within the US. These locations also represent the leading areas for US timeshare. Claiming the top spots in order, 1 through 4, are: Orlando, Miami, New York, and Las Vegas.
Mandala Research, a market research firm that provides travel market research products, services, and analysis to companies, non-profit organizations, and government agencies, thinks part of the attraction of these cities may be family related. Identifying that family travel is important to Hispanic travelers; Mandala sees the fact that these cities all have large Hispanic populations as part of their appeal. Additionally, all four are already top tourist destinations, loaded with great options in entertainment, dining, timeshare resorts, and attractions, while three of the four also offer excellent year-round climates.
Top Vacation Destinations among US Hispanic Travelers
Orlando, Florida
Miami, Florida
New York, New York
Las Vegas, Nevada
Puerto Rico
Dominican Republic
Fort Lauderdale, Florida
Los Angeles, California
San Antonio, Texas
Santiago, Chile
US Timeshare and the Hispanic Traveler
In an article titled, “HISPANICS IN TRAVEL CAUCUS: MORE EDUCATION IS NEEDED,” written last fall by Maria Lenhart, the Hispanic market (some 30 percent of the US population) is described as significant and growing. But even that statement is misleading as most Hispanics do not identify with the term ‘Hispanic,’ but are more likely to identify with their country of origin, whether that is Mexico, Puerto Rico, Cuba, etc., despite the fact that the majority of US Hispanics were born in in the US.
Glenn Llopis, CEO of the Center for Hispanic Leadership, says, “The Hispanic market is wide open, but you cannot ignore the cultural nuances,” he said. “Hispanics don’t want to be sold – they want you to invest in their cultural relevancy. It’s not just about having a bilingual website and marketing materials.”
Olga Ramudo, chair of the ASTA-NTA Hispanic Business Development Task Force, describes US Hispanic travelers as traveling, “…in herds, not small groups,” and needing “… suites that are big enough for our families.” Sounds like a perfect match for timeshare accommodations, doesn’t it?
Offering spacious accommodations with resorts that make it easy for family members of all ages to enjoy themselves, US timeshare resorts are an ideal match for the vacationing US Hispanic community.
And in the spirit of relationship building, what vacation location is a better fit than becoming the owner of a US timeshare where the whole family—no matter how big that family may be—can enjoy the fun of dining, cooking, relaxing, and vacationing together.
Here are some important related links on this topic:
The following article, “The Myth of the $1 Timeshare,” was written by Jason Tremblay and originally published in the January issue of Developments magazine. It is reprinted here with permission from ARDA, copyright 2013.
The Myth of the $1 Timeshare
Too often it seems that the media, even major reputable publications, feature articles on timeshare as a badly devalued, if not worthless, “investment.” A favorite claim is that the resale value of timeshare is often only $1. Just when the public thrashing of the product and industry appeared to be waning, a second round began, grabbing headlines with claims of “the 1 penny timeshare.”
With what can only be described as an irresponsible disregard for the real story of the value proposition of timeshare, some consumer and financial reporters continue to perpetuate this myth in a relentless public logging of the entire industry. Even the larger developers and branded hospitality providers have felt the stinging implication that a product they sold for thousands of dollars could have little to no resale value. Perhaps even more worrisome is that many loyal timeshare owners are convinced that their product has suddenly lost all value, not by reasonable use-product market depreciation but by the prevalent message of extreme decline promoted by the negative news articles.
Why is it that no financial pundits are warning their readers that vacations are a waste of money? No one wants owners to feel “burned” when buying a timeshare or for the product to be the punch-line of jokes about bad investments. Every financial analyst who becomes indignant because owners aren’t getting back their so-called investment upon resale totally misses the point of the value proposition of timeshare—taking it even further by being misinformed about the true resale market. For some companies like ours (SellMyTimeshareNOW LLC, Timeshare Broker Services, and VacationOwnership.com), the reality of the issue became very real when we were contacted in April 2012 by a journalist in search of a story.
The Call and the Answer He Didn’t Expect
The Saturday afternoon phone call came from the financial editor of one of the most prestigious and influential daily newspapers in the world. The conversation with the editor and writer, whose identity we will deferentially withhold, began something like this:
“You have the largest inventory of timeshare resales on the Web, right?”
“Yes, we have a large inventory,” we responded.
“We’re writing a story about the $1 timeshare. You guys have more of them than anyone, right?”
“Well, our inventory is large, but we have very few $1 timeshares.”
An uncomfortable silence followed, as we promised the caller we’d get back to him with specific information.
So, what did we find when we examined the issue of $1 timeshares in our company’s inventory? Our audit showed that in our combined ads and listings of timeshares for sale by owner and timeshares for sale through licensed real estate brokerage, we had some 40,000 active timeshare resale units, intervals, or points-based memberships. Of that total, fewer than 40 timeshares were priced at $50 or less. Unfortunately, the journalist, when confronted with these facts, chose to kill the story and write nothing at all.
What Owners Hear
Although we had succeeded in taking the air out of one inaccurate article, the impact of other similar media stories was made evident in a call we received from an irate customer only a few weeks later.
“Why didn’t you tell me that my timeshare is only worth $1 on the resale market?” he asked.
The caller owned a fully paid, two- bedroom, two-bath timeshare unit at one of Orlando’s newest, nicest, and most popular branded hospitality resorts. At an asking price he had set at $15,000, he had advertised his timeshare resale through a by-owner sales service for two months. During that time, he had received no offers. Based on the misinformation about timeshare resale values that he was reading online and in print, he assumed that the reason there had been no activity on his timeshare ad was in fact, that it was worth only a dollar.
Frustrated and feeling duped, the caller was angry with the resort for selling him the property for thousands of dollars and angry at our company for selling him resale advertising for hundreds of dollars—all for a timeshare the press had convinced him was worth just a single dollar. Although our resale professionals had not been able to dissuade him initially from pricing his timeshare resale at a market high $15,000, we certainly didn’t want to see him feel pressured into a drastic reduction.
Because this timeshare was being advertised on a FSBO (for sale by owner) basis, no commissions were involved. Financially, it made no difference to our bottom line if he dropped his asking price to a dollar. Yet ethically, we had to try to convince him not to take this drastic action. We knew other timeshare owners at his resort were reselling their comparable timeshares through the site at prices from $12,000 to $13,000.
After considerable discussion with him, the owner was eventually convinced to lower his price—to $12,500. Shortly after that, his timeshare sold for $12,000. What an unnecessary loss he would have taken, had he let his timeshare go for $1!
The Reality of $1 Timeshares
The message of the $1 timeshare devaluates timeshare for owners, resellers, and developers. Rock bottom pricing also opens the door for some owners or other entrepreneurial individuals who are aware of the true resale and rental value of proper- ties, to snap up better units with the intent to rent or resell them themselves, essentially becoming competitors of the resort.
Yet the reality is, a small segment of timeshares really do have little to no resale value. Nearly impossible to sell or even give away, these negative-value properties include resorts that have been poorly man- aged, of-season weeks at highly seasonal locations, some motel conversions, and all those other timeshare odd-ducks that the industry tactfully categorizes as legacy resorts, sometimes not based on their quality but simply on a lack of demand. Adding to the challenge is that typically timeshare’s most elderly owner base owns these units. These are the very owners who are often the least comfortable with the resale process or anything that has to do with the internet and are much more likely to respond to a phone solicitation or postcard that shows up in the mail.
Working together, we can build a healthy resale component within the industry, which, when paired with well- managed, well-maintained resorts should put an end to owners who feel compelled to give up their timeshares for $1 or pay someone thousands of dollars to “take it off their hands.” When this happens, vacation ownership will be a better, stronger product—and journalists will have to find a different industry to label with sensational headlines!
Reprinted with permission from ARDA, copyright 2013
Happy New Year from Sell My Timeshare NOW and VacationOwnership.com
Happy New Year from Sell My Timeshare NOW and VacationOwnership.com
The licensed timeshare brokers and timeshare resales and rental specialists at Sell My Timeshare NOW and VacationOwnership.com join together to wish you and those you love a happy, healthy, and safe new year.
May 2013 bring you joy, peace, and prosperity.
May you experience the rewards of hard work and the blessings of relaxation.
And above all, may you have the opportunity to share time with your family and friends, making magic moments and a life time of memories to cherish.
Thank you to all our clients and customers who have allowed us to serve their timeshare resale and timeshare rental needs this past year. And as 2013 unfolds, with new adventures and new experiences, if we may be of assistance in helping you buy, rent, or sell timeshare, please contact us.
2013 is an especially exciting year for Sell My Timeshare NOW, as we commence 10 years—a decade—of service in making it easier for vacationing families to enjoy the luxurious and spacious accommodations of timeshares through resales and rentals.
From all of us, we wish you a Happy, Happy New Year!
If you have watched television in the past few days, you no doubt have noticed that the holiday season inevitably is followed by the “do-over” season. From Marie Osmond, to Sharon Osbourne and Jessica Simpson, celebrity spokespersons are sharing how they lost weight and you can too. The ads that are not hyping weight loss products are showing happy couples who found one another through an online match service. The start of a new year inspires us all that we can lose weight, find true love, and generally do over the parts of our lives with which we aren’t currently happy. So here’s the best do-over for 2013: timeshare resales.
Timeshare resales make it easy to do over the way you have been vacationing, replacing small hotel rooms with spacious accommodations, and room rates that creep higher every year with the locked in price of vacation ownership. Instead of wondering if you can afford a vacation this year, a timeshare resale lets you start the new year knowing your vacation is secured. Each time you vacation in timeshare resales you can unpack your bags from one wonderful holiday and start anticipating your next getaway.
Becoming a timeshare owner through the purchase of a discounted timeshare resale means you make a commitment to yourself and your family that life is not all work and no play, and that your responsibility to take care of your health and well-being includes time scheduled to relax and recharge in beautiful resorts that offer amenities for the whole family.
Many do overs in life are challenging, requiring you to count calories, spend more time on the treadmill or other commitments that are beneficial but not always fun. Committing to vacation ownership isn’t like that. It’s easy to do, more affordable than you imagine, and more flexible than you probably realize. Timeshare resales are the do over resolution you can make… and keep!
