Tips When Buying a Timeshare

Before you choose anything in this world, you need to know what type of benefits it offers you. The first and foremost would be the question of whether or not it offers you the best value for your money. This is something that has to be not only satisfactory but also within the budget you have set for this vacation.
The time share properties you are looking for are only a search away if you use the internet. A timeshare that is listed on the internet shows that the owner has taken the trouble to showcase it for the public. This simplifies the task for you as you can see and visualize all that is offered in the vacation package.
The rule that is applicable here, as with everything else of quality, is that if you want the best you need to (1) be focused on the type of time share property you need, (2) be patient while searching, (3) always have a contingency plan. There is nothing wrong with being thorough while seeking timeshare resorts for your vacation, more so when the happiness of your family depends upon that one decision. There are two ways to find the best of time shares: (1) search the internet for properties, (2) seek to find out offline who would be interested in selling or sharing their property.
Other very important parameters that you need to pay attention to when choosing your dream vacation location are the license of time share properties, popularity of the location and the prices that are quoted. Make use of their presentation to understand what they say about each aspect of their property, including the cost quoted for the timeshare, and other added benefits.
Whether you are choosing it for your timeshare vacation, or for any other purpose, you should be comfortable with what you see. If you are on the internet, then ensure that you run the name of the hotel along with the words ‘fraud’ or ’scam’ and watch what comes out of it.
Overall, what you should see when you are looking for the best possible time share properties available are: spacious rooms, greenery and scenic beauty, excellent location, unmatched service and an incredible price tag. When you get these features, you will know that you have found what you were seeking.
Your vacation condo should be more self-sufficient than any luxury hotel in that location or in the world. Your family will rally around you out of immense joy.

The Hidden Costs of Timeshare Ownership

Timeshare ownership can seem like a sweet deal because you’re praying a fraction of the cost it would be to get a hotel each and every year. Plus, it’s all yours for the rest of your life. However, there is a definite downside to timeshare ownership that many of the timeshare companies tend to downplay such as all the additional, hidden costs of ownership.

If you are considering becoming a timeshare owner, you should know what you are getting yourself into and at what cost.

The most common fee you will encounter with timeshare ownership is the maintenance fee. In addition to your initial purchase, there will also be an annual maintenance fee to pay for maintenance of the property. This can be paid once a year in a lump sum or in some cases, you can pay it monthly. Maintenance fees may vary from place to place, but know that they will always continue to increase.

Another unexpected fee you may encounter includes taxes, which sales agents never warn you about. Be sure to ask about the tax on your potential timeshare because in most parts of the world, there is an imposed timeshare tax for every night that you stay in your timeshare and can be anywhere from $20 and up a night.

One hidden fee that you would think is included in your maintenance fee is utility fees. Your maintenance fee does not cover how much electricity you use during your stay, so at the end of the week, you end up getting a bill for it. If you’re running the air conditioning unit all week, this can be pretty costly.

Other hidden fees include transportation costs. You are on your own for that, so if you’re timeshare is far from where you live, you must be sure to factor how much it will cost to drive there, or fly there and either rent a car or use public transportation. Your source of transportation and the distance of your timeshare from your home should definitely be considered when calculating the cost-efficiency of owning a timeshare.

Lastly, there are also trading and exchange fees. Most timeshares are part of a larger network, so if you want to use your timeshare week at a different location, you will have to pay a fee to make that happen. If you are seriously considering buying a timeshare, don’t let the purchase price alone fool you or sway your decision. Timeshares cost much, much more because of the aforementioned fees that sales agents tend to leave out and don’t exactly highlight in your contract.

Timeshares may be for some people, but they are definitely not for everyone. If owning a timeshare no longer fits your budget or your lifestyle, you may want to consider your timeshare relief options.

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About the Author:
Tracie Newcastle is a freelance writer based in Los Angeles. She is also a timeshare consultant for the timeshare industry helping timeshare consumers understand the nature of the industry as well as their timeshare relief options. Whether you are trying to buy, sell, rent, donate, or straight up get rid of your timeshare, Tracie Newcastle is here to help. If your timeshare is costing you a fortune and you need a way out, please visit her website athttp://www.timesharereliefinfo.com for a guaranteed solution.

Welk Announces 2009 Record Year

Vacation ownership resort company, Welk Resorts, announces record-high numbers for 2009….expectations for 2010 and coming decade are high.
Welk Resorts reported having record sales in 2009 of the Welk Resorts Platinum Program – a multi-resort, points-based, vacation ownership program. Welk Resorts President Jonathan Fredricks says, “Despite a rough economic year for many in the timeshare resort industry, we found that adhering to our core competency in providing an excellent product at affordable prices helped us achieve over $72 million in net revenue with strong sales efficiencies, beating our budget by over 15 percent.”

“We believe our focus on remaining profitable in our sales and marketing departments, rather than developing a dependence on earnings from the finance side of the business, is a principle reason for our success,” added Don Dubin, who directs the company’s sales and marketing activities. “We’ve also concentrated on retaining a consistent, excellent and well-trained staff, many of whom have been with us for more than two decades. Welk Resorts has a well-deserved reputation for integrity and honesty; and this is the way we perform throughout the organization.”

Welk recently opened its seventh property, Sirena del Mar, in Los Cabos – a 222-unit, luxury project, situated on a seven-acre, seaside expanse overlooking the Sea of Cortez and anticipates adding to their inventory mix substantially in the coming year.

“The prospects for continued top sales results are excellent,” adds Dubin. “Thankfully, Welk Resorts has a lot of marketing momentum going right now and we plan to capitalize on that.”

About Welk Resorts

Welk Resorts offers high-quality accommodations and top-rated service at popular destinations, such as San Diego; Palm Desert, California; Maui and Branson, Missouri and serves over 40,000 families. Welk Resorts has a unique face-to-face marketing platform from which it generates guest tours and leads, with over 50 sports franchise, retail, fairs and events alliance locations in Southern California, including Staples Center, Knott’s Berry Farm, San Diego Padres, LA Dodgers, the San Diego Chargers, Live Nation and the San Diego County Fair. Welk Resorts has presold approximately 70 percent of the points in this phase at Sirena Del Mar, which is part of the Welk Resorts multi-site club system, Welk Resorts Platinum Program.  Points backed by Sirena Del Mar resort intervals are available at Welk’s four preview center locations in Mexico, Missouri and California. Welk Resorts Platinum Program members and Interval International exchange guests will be able to use their points to enjoy Sirena del Mar or any of the company’s six other timeshare resorts.

New Web Based Timeshare Software to be launched at ARDA

Timeshare software technology leaders, SPI Software, recently said they plan to unveil new web 2.0 initiatives during the upcoming convention being held by the American Resort Development Association (ARDA). SPI is a sponsor and exhibitor at the ARDA gathering taking place at the Venetian Resort Hotel and Casino in Las Vegas.

As part of the company’s OrangeWeb package, the new web-based modules continue to leverage SPI’s Microsoft.NET technology platform. The latest modules to be announced will provide Web-based functionality that assist timeshare resorts to handle owner servicing, reservations, marketing and sales.

Matt Brosious, Vice-president of sales and marketing for SPI adds, “We are very excited to unveil OrangeWeb and to answer the industry need for an integrated web strategy. There is really no longer any need to develop expensive custom web-based timeshare software. We are particularly pleased with the enthusiastic reception OrangeWeb has garnered from our clients and prospects.”

During the ARDA Convention, SPI will be providing demonstrations of how its new Orange Software enables timeshare resorts and vacation clubs to effectively manage all facets of operations with efficiency and economy. Interested parties are encouraged to reserve a demo appointment by calling Brosious at 305-858-9595. SPI is located at ARDA booth #343.

About SPI Software
SPI Software provides developers and operators of vacation ownership (timeshare, fractional, private residence club and others using either traditional or points-based usage strategies) with Microsoft .NET-based software as either an enterprise suite of software called Orange Systems, or in specific modules to handle marketing, sales, property management, finance, maintenance fee and receivables servicing, centralized reservations or Website access operations. Founded in 1978 and based in Miami, FL, SPI can be reached at 305-858-9505, sales@spiinc.com or www.spisoftware.com.
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Media Contact:
Sharon B. Drechsler, RRP
Drechsler Communications
for Systems Products International
310-923-1269

Interval International Releases 2009 U.S. Membership Profile

MIAMI, Mar 15, 2010 (BUSINESS WIRE) — Interval International, a prominent worldwide provider of vacation services and an operating segment of Interval Leisure Group, Inc. (IILG 14.83, +0.27, +1.85%), today revealed that its U.S. resident members reported annual household income greater than $125,000 per year, high product satisfaction with their timeshare ownership, and a commitment to vacationing.

These findings are from Interval International’s 2009 U.S. Membership Profile, which was developed from a sample of U.S. resident vacation owners maintaining an active membership with Interval International. The online study was undertaken to provide insights for use in the development of services and benefits to be offered to Interval’s membership.

“The observations and insights drawn from this research reinforce the value our members place on vacationing,” said David C. Gilbert, executive vice president of resort sales and marketing for Interval International. “This study also represents the latest in Interval’s continuing commitment to bring timely and relevant consumer-centric research to the market. Along with our renowned Future Timeshare Buyers series and Affluent Shared Ownership Buyer Profile, these publications serve as a barometer relative to leisure preferences and intentions and assist resort developers in better understanding the psyche of today’s vacation consumer.”

Notable findings from the 2009 U.S. Membership Profile include:

— Approximately 88% of Interval’s U.S. members report satisfaction with their timeshare ownership.

— Fully 33 percent of Interval’s U.S. members state that they are interested in purchasing additional vacation time.

— Interval’s U.S. members spend approximately 23 nights per year away from home, traveling for leisure.

— Florida, California, Hawaii, and New York represent the most frequently cited destinations Interval’s U.S. members would like to visit in the next two years. Internationally, they cite the Caribbean as their most preferred locale.

About Interval International

Interval International operates membership programs for vacationers and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 33 years. Today, Interval has an exchange network of more than 2,500 resorts in over 75 nations. Through offices in 16 countries, Interval offers high-quality products and benefits to resort clients and approximately 2 million families who are enrolled in various membership programs. Interval is an operating segment of Interval Leisure Group, Inc. (IILG 14.83, +0.27, +1.85%), a leading global provider of membership and leisure services to the vacation industry.

Note to Editors: Photos available upon request.

SOURCE: Interval International

From the BBC – two Britains charged with Timeshare fraud

A freed British man who was accused of fraud after his Budapest-based marketing business failed has said he intends to clear his name.
Michael Turner and his business partner Jason McGoldrick were held without charge by the Hungarian authorities.
The authorities claimed Mr Turner, 27, from Dorset, and Mr McGoldrick, 37, from Devon, owed creditors £18,000 when their company collapsed in 2005.
Mr Turner told BBC News he wanted to “move forward and work on the case”.
It is understood the pair were released from prison on Friday.
Mr Turner flew to Hungary on 2 November last year after being extradited.

Hopefully, we can move on forward now and work on the case

Michael Turner

The men’s problems began when their limited marketing firm, which produced profiled candidates for time-share companies, collapsed with debts of £18,000 in 2005.
Hungarian prosecutors used European arrest warrants to detain the men alleging the company’s creditors were the victims of fraud.
During an interview with BBC Radio Solent, Mr Turner said: “It has been a very hard time, I am very, very angry about [being imprisoned].
“Hopefully, we can move on forward now and work on the case, which has been difficult, being locked up in a room 23 hours .”
The pair, from Corfe and Plymouth, are meeting lawyers to ensure that all matters are cleared before they leave the country.
Mr Turner’s father Mark said the men were “ecstatic but confused” to be freed and said that they had not been treated well during their time in prison.
Demonstrations held
“I saw Michael on Thursday when I visited at prison. You can see both of them have their clothes hanging off them, like they’ve been in a concentration camp,” he said.
“They’re pale and malnourished. Michael has lost about three stone (19kg) in weight, things you would expect to see in someone not looked after well.
“But he is strong mentally, I think he has been very focused because he is innocent and determined that he will be able to clear his name.”

The men were held in jail in Hungary without charge for almost five months
Mr Turner’s family ran a campaign to highlight their case, set up a website called Free Mike and Jason, and accused the British government of “letting the men down”.
South Dorset MP Jim Knight told BBC News the men “went willingly to Hungary on the basis of agreed promises about how they would be treated that have not been kept”.
Mr Turner, he said, had been kept locked up for 23 hours a day and had to endure “appalling conditions”.
Family and supporters held demonstrations outside the House of Commons and the Hungarian embassy in protest at the handling of the case.

What is Timeshare Bonus Time

Some timeshare resorts propose you buy bonus time, which is additional rental at your home resort.

This is usually offered at deeply discounted rates. This privilege is only extended to timeshare owners at that resort.

Bonus Weeks (Also known as ‘Getaway Weeks’ or ‘Extra Vacations’) Timeshare broker companies provide their surplus weeks for rent at deeply discounted rates. This privilege is extended to owner consort members only.

Timeshare ownership is required as a prerequisite to acquiring an owner consort membership. How long can I stay at my timeshare unit? Typically, seven or fourteen nights. Many timeshares accept you to acquire additional days (known as Bonus Time) at a low rate. This is usually because the days or weeks would be vacant, and are depending on availability.

Bonus time is a only offered to owners by some timeshare resorts. For owners, it is days spent at a unit that does not fall within the allocated week. These Developer Bonus Weeks ( DBW) can come in the form of low rates for daily-rentals (sometimes as much as 50% off), or can be in the form of free weeks issued by the use, because some additional income created by owners’ utilization of this bonus instance helps to equilibrate operating, maintenance and marketing costs.

Bonus timeshare becomes valuable to owners because its usage has no change on right-to-use contracts or deeded arrangements. It is simply a bonus offered by resorts where both parties can benefit. These weeks are issued directly from the use as unsold developer-owned weeks. They are often times offered as a sign-on bonus. Bonus Time can also be issued by an owner consort such as RCI or Interval International. Exchange companies use Bonus Time as incentives to owners to deposit their high-demand use weeks into the owner consort inventory.

Bonus instance can add additional life to a resort. When buying your annual week, a lot of the resorts permit owners use the unit for bonus time if a space/time is available, doing this at a preferred rate. If owners who can utilize either/or mid week instance and low season instance it will be to their advantage and they definitely will goodness from it! If a consort that handles some resorts plus has an broker program, the bonus times could really add up

Timeshare Deliquencies Improve Year on Year

Despite another expected increase in total U.S. timeshare ABS delinquencies and monthly defaults, total delinquencies fell compared to the same period last year for the first year-over-year (YOY) improvement since August 2007, according to the latest timeshare ABS index from Fitch Ratings.

“Delinquency and default levels are still above historical norms and figure to weaken further throughout the rest of the winter,” said Director Brad Sohl. “As such, Fitch expects continued declines in asset performance, though ratings should remain stable.”

Fourth quarter-2009 (4Q’09) total delinquencies were up to 4.89% from 4.64% at the end of 3Q’09, following seasonal patterns typically seen in timeshare ABS. However, delinquencies decreased by approximately 5% from 5.13% in 4Q’08.

Monthly defaults climbed to .83% in December 2009, up from .76% and .75% for 3Q’09 and 3Q’08, respectively. On an annualized basis (rolling 12 months), default experience continues to breach historical peaks, reaching 9.44% for the index in December, as U.S. timeshare borrowers continue to struggle in the current economic environment.

Fitch’s timeshare ABS index is an aggregation of performance statistics on pools of securitized timeshare loans originated by various developers. Expected cumulative gross defaults on underlying transactions can range from 10% to above 20%. While delinquencies and defaults may vary on an absolute basis, most transactions supporting the index exhibit similar overall trends.

The Fitch timeshare performance index summarizes average monthly delinquency (over 30 days) and gross default trends tracked in Fitch’s database of timeshare asset backed securities (ABS) dating back to January 1997 and is available on a quarterly basis.

Fitch’s quarterly index can be found at ‘www.fitchratings.com’ under the following headers:

Sectors >> Structured Finance >> ABS >> ABS Indices >> Timeshare

Additional information is available at ‘www.fitchratings.com’.

timeshare Know your Rights

Here is an update from Lawdit in the UK that you ought to be aware about. Get in touch with them if you have any problems

Timeshare: Know Your Rights
22 February 2010

TIMESHARE: KNOW YOUR RIGHTS

Timeshare is where you buy the right, for at least three years, to spend time in a villa or apartment at specific times in the year. You don’t actually own the property itself but just the ‘time slot’.

In the UK, the Timeshare Act 1992, as amended by the Timeshare Regulations 1997, gives you a minimum of fourteen days ‘cooling off’ period to cancel the contract. If you buy a timeshare in the European Economic Area, you have a ten-day cooling off period from the day the contract is signed. You are not required to pay any money during this time, the documents and contract should be in your own language and the contract should include the following:

– The vendors details

– The price

– The location

– Description of the property

– If the property is under construction, a completion date

– How the property is to be managed

– Maintenance and repair of the property

– The provision of services such as water or electricity

– Common facilities

– The consumer’s right to cancel and the procedure for cancelling or withdrawing from the contract.

If you decide to cancel the contract, any linked credit agreement is also concealable.

The European Timeshare Directive 94/47/EC protects consumers who enter into a Timeshare contract. The Directive only covers timeshare schemes that are more than three years duration. If any product is offered for less than three years you will not be protected by the legislation.

Our advice is that, if you are interested in timeshare, do your research first and get all the relevant details in writing before committing yourself.

Inam Ali is a Solicitor at Lawdit, specialising in Commercial and Intellectual Property Law, and can be contacted via email: inam.ali@lawdit.co.uk

Timeshare lawyer advisory for timeshare developers, owners and operators. Impact of new ADA rules on your timeshare project.

Here is an interesting entry to the Hotel Law blog by Jim Butler.

I only offer an extract here, to read the full article, go to the link at the bottom of the page.

“Under the Bush Administration, the Department of Justice issued proposed modifications to the ADA regulations that would increase the obligations of certain commercial property owners and operators under the ADA Accessibility Guidelines and include time share developments within the definition of “public accommodations.”

Timeshare Companies Still Breaking the Law in Europe

In Copies of timeshare contracts shown to Claims Directive a vast number of timeshare developers are still taking illegal deposits from prospective buyers, even though this was outlawed under the European timeshare directive.

How do I sell my Timeshare?

If you are reading this, you are probably either desperate or very eager to sell your timeshare. The economy is down right now and you are either not taking vacations as often as you would like or you are simply strapped for cash and you want to sell timeshare for cash. Listen, there is no need to keep paying for a property that is empty all the time.

Garry Leigh now blogs about Jon Clarke, Olive Press

I’ve written before about Garry Peter Leigh and his arguements with Penman and Sommerlad. Now he is writing about another newspaper and another journalist – Jon Clarke of the Olive Press.

He accuses Clarke of suggesting a story written last year in the Daily Mirror in the UK actually happened last week.

Vacation Ownership Timeshare Industry Report 2009 Edition

The US vacation ownership industry is growing inspite of the ongoing economic recession. Analysts feel that with the entry of global hotel chains in Asia and Europe, market awareness about timeshares would increase. India and China are expected to be potential targets of vacation ownership developers in the long-term.

All inclusive Resorts continue growth trend

Why are all-inclusive resort requests thriving? The all-inclusive travel specialists at ResortCompete.com offer eleven main reasons clients tell them they are requesting all-inclusive resorts and which are the most popular.

Levitin Group Launches TimeshareTunes.com

The Levitin Group is a leading training organization in the global vacation ownership industry. It has recently launched an interesting product line in the shape of TimeshareTunes.com.

Wyndham Opens at National Harbor

Wyndham Vacation Ownership, the world’s largest vacation ownership company, today announced its grand opening of Wyndham Vacation Resorts at National Harbor.

This 250-unit urban resort, which is more than 75 percent sold out, is the second Wyndham timeshare resort in the popular Washington D.C. market, joining Wyndham Old Town Alexandria.

Garry Peter Leigh, Penman and Sommerlad

What is the bickering between Penman and Sommerlad of The Daily Mirror in the UK and Garry Peter Leigh all about?

Garry Leigh owns a succession of ‘Holiday’ or vacation related companies across Europe and some industry insiders suggest he may soon be expanding into the USA.

Rising Maintenance Fees Concern According to Timeshare Survey

A timeshare survey released by RedWeek.com has identified the top five timeshare concerns.

Topping the list were exchange availability followed by the high maintenance fees charged by resorts. The remaining three categories rounding out the top five list are: honesty, resale opportunities, and resort improvements.

5 Excellent Resorts to look out for when buying Timeshare

Here are my top 5 highest rated timeshare and vacation tourist spots to look out for when buying a timeshare resale:
1) Harborside Resort Atlantis, 2) The Four Seasons Resort Club Aviara, 3) Sheraton’s Vistana Resort, 4) The Manhattan Club, 5) Marriott’s Desert Springs Villas…

Timeshare Resale Company Sued in Florida

Attorney General Bill McCollum has filed a lawsuit against a Palm Beach County company alleging deceptive trade practices involving timeshare resales.

According to the lawsuit, American Marketing Group, LLC engaged in a systematic pattern of conduct designed and intended to induce consumers to pay an upfront fee for their timeshare resale services through a series of false and fraudulent misrepresentations.

Marriott Vacation Club – 50th Resort

Marriott Vacation Club today announces the opening of its 50th resort “Marriott’s Oceana Palms – The Palm Beaches”.
Located at 3200 North Ocean Drive, on Singer Island in Riviera Beach, Fla., the resort will officially welcome Owners and guests on Friday, January 15, 2010.

Timeshare for Life – not just for short term

Any sensible buyer should understand that a Timeshare is not just something to last a couple of weeks, like a regular vacation.

Nor is a timeshare something that should be viewed upon like a property purchase or an investment risk.

Instead, a timeshare should be seen as an asset that secures long term vacation standards and as something that can be gifted to those you love and want to spend cherished time with each year.

2007 revision of Timeshare Directive

In June 2007 the European Union introduced legislation to give European owners of Timeshare greater protection. The legislation sets out to add to the directive of 1994 but aiming to include vacation ownership and timeshare resales.

An update to this directive was published on 7th June 2007 and every timeshare owner should familiarize themselves with this before buying or selling timeshare of vacation/holiday ownership.

Timeshare Resale Prices Rose slightly in 2009

Timeshare resales prices show signs of a slight recovery when comparing 2008 and 2009 resales data at Stroman Realty.  Sales data from the 2009 secondary market revealed a 4/10th of a percent increase in prices from 2008.  Although their August report said that the average timeshare resale price showed a larger percentage bounce, last quarter 2009 sales prices resulted in an almost flat price performance for the year.