Entering into the timeshare industry as a real estate developer will require you to have a solid understanding of the industry and how it operates. Timeshares and resorts go hand-in-hand, and although there are some similarities between the two, there are also significant differences. If you need a timeshare refund, you will need to contact an attorney such as The People’s Advocate.
Timeshare is the name given to a type of vacation ownership that offers a fixed number of days each year to use and exchange.
Timeshare was created in the twentieth century, giving people the opportunity to own multiple weeks in the same resort. Initially, timeshare offered fixed weeks within the same hotel. Still, over time, it expanded to offer additional weeks at different resorts.
Some timeshare resorts are affiliated with large chains, such as Marriott, Westin, Hyatt, Hilton, and Wyndham. Others are smaller and typically affiliated with local hotel chains.
While timeshare offers many of the same benefits as traditional hotel accommodations, it also offers some distinct advantages. For example, most timeshare resorts allow owners to use all their amenities, such as their swimming pool, exercise room, or golf course.
Additionally, owners get discounts on room rates at the timeshare resort. They can receive redeemable points for discounts on future stays.
Timeshare also enables families to travel together, often in different rooms, and share the same amenities.
Timeshare resorts offer various packages based on annual usage. Some timeshare resorts offer annual usage in various resorts, while others offer only a single resort.
Timeshare packages typically include accommodations, food, and activities, and some include transportation to the timeshare resort.
Timeshare resorts are, in essence, luxury hotels, often located in exotic locales.
Like hotels, accommodations at timeshare resorts are seasonal, with prices rising significantly in ski season and decreasing in the off-season.
Timeshare resorts often cater to families, offering activities for children and childcare services.
Timeshare resorts may offer timeshare packages to travellers seeking a specific type of vacation experience.
Golfers may prefer a timeshare resort that includes a golf course that they can use. Travellers seeking a romantic getaway may prefer a timeshare resort with on-site spas and fine dining. Sports enthusiasts may prefer a timeshare resort that offers on-site tennis, golf, boating, and other activities.
Vacationers seeking an authentic cultural experience may prefer a timeshare resort that remains open year-round. Some timeshare resorts offer year-round accommodations, while others close down during the winter months.
Timeshare resorts also typically offer a variety of vacation packages, which can be packaged with timeshare, traditional hotel accommodations, airfare, or car rental.
Timeshare resorts offer timeshares, but timeshare brokers sell vacations. Timeshare brokers sell vacations for one of two reasons: either they have other kinds of vacations they want to sell, or they own their timeshares. Most brokers’ customers want to buy a vacation.
Timeshare brokers sell vacations for one of two reasons: either they have other kinds of vacations they want to sell, or they own their timeshares. Most brokers’ customers want to buy a vacation.
Timeshare brokers often provide valuable services, such as booking transportation.
Timeshare brokers often provide valuable services, such as booking transportation, arranging for babysitters, and booking reservations. They also allow owners to exchange their vacation weeks for other vacation weeks at several different resorts.
Timeshares are the easiest way to get good deals on vacations. You get a place with a view, pay for it for a couple of years, and sell it to someone else when you feel it is time for you to go home. Timeshares used to be more like a traditional hotel: you booked a night or a week or a month, and it was yours. Now they are more like an apartment, in which the owner rents out rooms. But in both cases, the renter has to pay to use the facilities. In apartments, the owner has to pay utility bills, maintain the house, and keep the pool clean. In timeshares, the owner has to pay maintenance fees to the resort, which may be a lot.
But timeshares still make sense. You get a good deal, and the fees are meagre.
The scam, of course, is when someone buys a timeshare and then never uses it, or uses it only a few times, and then tries to sell it to someone else.