Timeshare owners survey finds need for improving resale experience

[CarolF Senior Member Find all posts View Profile Close CarolF]

Current U.S. timeshare owners report liking many aspects of their timeshare ownership, but have questions and concerns when it comes to selling their timeshare interest, according to a new nationwide survey fielded by Vacatia, the online marketplace for buyers and sellers of vacation ownership.

"The U.S. timeshare industry has become a huge travel segment since its inception four decades ago, growing to more than 1,500 resorts and 8.3 million timeshare intervals owned," said Keith Cox, CEO and co-founder of Vacatia. “When major hospitality brands like Marriott, Disney, Westin and Hilton entered the market, both consumer choices and the level of quality improved."

Timeshare owners surveyed, which included members of the National Timeshare Owners Association as well as registrants on Vacatia.com, cited several reasons they like being a timeshare owner, including:
The ability to exchange (46% of respondents)
A more home-like and comfortable vacation experience (45%)
Getting better value vs. staying at a hotel (40%)
The survey found that respondents reported a key dislike, expressing concern regarding:
Potential difficulties in reselling my timeshare (70%)
Vacatia surveyed a broad cross section of timeshare owners, including the views of both new and long-time timeshare owners. In fact, more than 41% of respondents reported owning a timeshare more than ten years. The resale concerns expressed were not considered hypothetical, as 10% of survey respondents reported selling a timeshare at some point in the past, and 39% of respondents noted that they are currently in the process of selling a timeshare.

Respondents shared it is not uncommon to desire to sell a timeshare, for various personal, lifestyle, or financial reasons, including to buy another timeshare. As one survey respondent from Florida wrote, “We want to sell due to our age, health problems and a somewhat restricted ability to travel…"

Another finding was that while the vast majority of timeshare owners reported making their purchases offline, they expect future buying and selling to occur increasingly online.
93% of timeshare owners surveyed believe that potential buyers would use an online marketplace for timeshare resales, where they could comparison-shop, negotiate and purchase.
95% of timeshare owners surveyed believe that there should be a way to sell their timeshares in an online marketplace, with no upfront fees.
“We are entering the period of Timeshare 2.0," said Michael Burns, President and co-founder of Vacatia. "We have seen the emergence of marketplaces and the so-called 'sharing economy' bringing together customers and providers in air and car travel, lodging, and even event tickets. Buyers and sellers in the timeshare market, and it certainly appears there is interest, will both benefit from similar innovation with the choice, information, transparency, convenience and often significant savings that can come from a trusted platform."

http://www.traveldailynews.com/news/...s-survey-finds

[chriskre Super Moderator Find all posts View Profile Close chriskre]

So how do you Aussies feel about timesharing?
Do you think it correlates to this study?

[CarolF Senior Member Find all posts View Profile Close CarolF]

I love timesharing, it works well. I have a points based timeshare which allows access to over 20 resorts without paying extra to exchange. Unfortunately, I only know 2 other timeshare owners. One inherited 4 weeks in Hawaii from her father, admits she doesn't really know how to use it and glazes over if I broach the subject. The other has bought into a point system and uses her week at her home resort every year. She is not interested in discussing timesharing either.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

A desire for a better resale experience.

Hmmmm. Imagine that.

[CarolF Senior Member Find all posts View Profile Close CarolF]

A desire for a better resale experience.

Hmmmm. Imagine that.

I thought of you when I found the article

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

I agree with the article that the serious downstide to TSs is the problem of resale, and also that the Internet will change the market. I have my doubts that resale prices will ever come anywhere near developer prices, though. Even with DVC, which seems to have an extremely high level of customer satisfaction (for a TS), and isn't know for high pressure sales, resale prices are considerably lower than developer, and the gap has been growing since I've been paying attention. Buying a TS involves predicting your own future, plus there's already a big group of people who bought them years ago and now have no use for them. The internet makes it easier to find a buyer, but also kicks up competition, so the price is always going to stay pretty low, IMHO.

Unfortunately, I only know 2 other timeshare owners.

IRL, same here. Hubby's boss got us into TS in the first place; he's a weeks owner, we own points, but he loves his and we love ours. My brother's best friend also has a TS, I don't know which kind, but either he has multiple units or he makes a lot of use of RCI's Last Call, because the four of them (friend and wife, brother and wife) used to be going all the time, Hawaii and all manner of places. Now they all live in the same state I think they mostly go for weekends sort of locally (although my brother used to drive from Denver, CO to Sioux Falls, SD for a weekend, so "locally" is a pretty big area with those two!).

What's funny is that hubby's boss was really fussed when we decided to get points; he thought we should get weeks, and sounded so much like anti-TS people it was hilarious. He still isn't that interested in exploring the differences.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

My take is that the Internet will not serve to ease the ills of timesharing. Quite the opposite, the Internet will continue to reduce the popularity, or demand for, TS ownership, since it provides lodging competition and ease of access to it that did not exist when many of us bought our TS's. Even timeshare resorts are available via the internet, without having to buy, something else that goes against the concept many of us bought into.

It also makes information regarding timesharing, mostly negative by all except owners and those involved in the industry, more accessible.

Thanks to the Internet, the scare tactics used to encourage us to buy TS's, like ever-inflating hotel and motel rates, simply did not happen. What did happen is Hotwire and Priceline and Travelocity and Craigslist and . . . . and . . . . and a bajillion other sites that have served to make traditional travel and lodging, include resort condo lodging, affordable, and walk-away.

[bnoble Senior Member Find all posts View Profile Close bnoble]

While I agree with the conclusion based on my anecdotal experience, it's not surprising that "Vacatia, the online marketplace for buyers and sellers of vacation ownership" would generate a survey that came to that conclusion.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I thought of you when I found the article

To be nitpicky, I would have to have a resale experience in order to know if it needs to be better.



Regardless of what bias one might have, resale is definitely tougher now than it was 10 years ago when we were able to jettison even our Wastegate junk.

The whole issue is pretty simple. they can be OK if you use them, maybe, and worse than worthless if you don't.

[easyrider Senior Member Find all posts View Profile Close easyrider]

My take is that the Internet will not serve to ease the ills of timesharing. Quite the opposite, the Internet will continue to reduce the popularity, or demand for, TS ownership, since it provides lodging competition and ease of access to it that did not exist when many of us bought our TS's. Even timeshare resorts are available via the internet, without having to buy, something else that goes against the concept many of us bought into.

It also makes information regarding timesharing, mostly negative by all except owners and those involved in the industry, more accessible.

Thanks to the Internet, the scare tactics used to encourage us to buy TS's, like ever-inflating hotel and motel rates, simply did not happen. What did happen is Hotwire and Priceline and Travelocity and Craigslist and . . . . and . . . . and a bajillion other sites that have served to make traditional travel and lodging, include resort condo lodging, affordable, and walk-away.

Sounds right to me . I recently found one of my ts's with an outside online vendor selling 4 nights with all inclusive with an occupancy of 2 adults and 2 children for $299.00.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Sounds right to me . I recently found one of my ts's with an outside online vendor selling 4 nights with all inclusive with an occupancy of 2 adults and 2 children for $299.00.

It would be hard to find one that is not available to the general public. Probably didn't say that right, although it might be right, so that it can't be nitpicked.


At the very least, let's say it's the norm that TSs are available to the general public/non-owners.

Orlando Vacation Rental: http://orlando.craigslist.org/search...=&excats=#list

1 - 100 of 2500

Actually, the selection available to the general public is better than the selection available via traditional timeshare channels:

Bonnet Creek: http://orlando.craigslist.org/search..._type=&excats=

1 - 100 of 169
- - - - - -

RCI Bonnet Creek:
Wyndham Bonnet Creek Resort (#6369) »
Lake Buena Vista, FL 32830, USA


Rating: (100)

28 available units

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Bad area for a true picture IMHO. Resale price and saleability depend a great deal on demand and supply and that demand and supply seems to rise and fall with the health of the economy. Every timeshare or timeshare group should have its' own resale department or a least list available resales and they should also have the escape program with deed-backs for those that can't use or resell.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Bad area for a true picture IMHO. Resale price and saleability depend a great deal on demand and supply and that demand and supply seems to rise and fall with the health of the economy. Every timeshare or timeshare group should have its' own resale department or a least list available resales and they should also have the escape program with deed-backs for those that can't use or resell.

One of our resorts where we can't get rid of our stuff does not do deedbacks, yet they have a marketing company for association-owned weeks.

Hmmmm?

I've been thinking about asking a guy in our golf group, whose company started out developing TS resorts, what advice he has for older people who just don't use their timeshares any more. But, then, I really don't want to get on his bad side. As far as the "keeping your obligations" argument, I pretty much know where he stands on that. His company just got a $10 million judgment against them from their bank, and let a couple hundred properties go to the tax sale.

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

Orlando Vacation Rental: http://orlando.craigslist.org/search...=&excats=#list

1 - 100 of 2500

Actually, the selection available to the general public is better than the selection available via traditional timeshare channels:

Bonnet Creek: http://orlando.craigslist.org/search..._type=&excats=

Bonnet Creek rentals have taken off because it's practically on Disney property (you go through the gates to get there), but it's technically not part of WDW so you don't pay Disney prices. Wyndham also has a deal where owners with a lot of points can get "last minute" (within two months, I think it is) for half the points, and Bonnet Creek is a popular place to make those kinds of reservations and then rent them out.

So renting direct at Bonnet Creek is sometimes cheaper than going through RCI.

OTOH, people who can trade into DVC through RCI can get the best deal, and the best deal by a huge margin, compared to any other option but DVC ownership. And generally, I would guess, they do better than owners, however their selection is much more limited, and they can have a harder time getting particular units.

I've been comparing rental versus ownership prices for BG since before we bought in, and that seems to be the way it is overall. I can get better deals as an owner here, and there are better deals as a renter there. So when I'm feeling ambitious, we go as owners here, and rent there. When I'm feeling lazy, I just use BG and RCI, don't bother to check rentals, and just go somewhere at a price that makes me happy. One of the reasons we bought in was predictability and convenience; since points prices stay the same, whether somewhere is "the place to be" or not changes nothing, so the key to getting somewhere for a particular event is just to get your reservations in early, and the places that were a great deal when we joined are still a great deal. Did a list of "no-brainer vacations" when I was all jazzed about buying, and we're set for years. The fact that we like to go back for stuff helps, obviously, as does the fact that the only impact current popularity has on us is annoyance if somewhere we love has been "discovered."

Someone who likes to go somewhere new every time, or who likes to go to the most current hot spots, isn't going to be nearly as happy with a TS ownership. One reason I think the Internet will make a change to the TS experience over time is that discussion boards like this can really help people figure out if the TS lifestyle will work for them. A lot of people get excited about the idea of TS without thinking through the fact that they like to go last minute, they like to stay in the city center, they really aren't going to get much use of the kitchen or the space, they will deeply miss daily maid service, etc. Informed consumers, and consumers who've thought through the purchase, are always happier consumers, and the internet makes it a lot easier for consumers to get informed.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Bonnet Creek rentals have taken off because it's practically on Disney property (you go through the gates to get there), but it's technically not part of WDW so you don't pay Disney prices. Wyndham also has a deal where owners with a lot of points can get "last minute" (within two months, I think it is) for half the points, and Bonnet Creek is a popular place to make those kinds of reservations and then rent them out.

So renting direct at Bonnet Creek is sometimes cheaper than going through RCI.

OTOH, people who can trade into DVC through RCI can get the best deal, and the best deal by a huge margin, compared to any other option but DVC ownership. And generally, I would guess, they do better than owners, however their selection is much more limited, and they can have a harder time getting particular units.

I've been comparing rental versus ownership prices for BG since before we bought in, and that seems to be the way it is overall. I can get better deals as an owner here, and there are better deals as a renter there. So when I'm feeling ambitious, we go as owners here, and rent there. When I'm feeling lazy, I just use BG and RCI, don't bother to check rentals, and just go somewhere at a price that makes me happy. One of the reasons we bought in was predictability and convenience; since points prices stay the same, whether somewhere is "the place to be" or not changes nothing, so the key to getting somewhere for a particular event is just to get your reservations in early, and the places that were a great deal when we joined are still a great deal. Did a list of "no-brainer vacations" when I was all jazzed about buying, and we're set for years. The fact that we like to go back for stuff helps, obviously, as does the fact that the only impact current popularity has on us is annoyance if somewhere we love has been "discovered."

Someone who likes to go somewhere new every time, or who likes to go to the most current hot spots, isn't going to be nearly as happy with a TS ownership. One reason I think the Internet will make a change to the TS experience over time is that discussion boards like this can really help people figure out if the TS lifestyle will work for them. A lot of people get excited about the idea of TS without thinking through the fact that they like to go last minute, they like to stay in the city center, they really aren't going to get much use of the kitchen or the space, they will deeply miss daily maid service, etc. Informed consumers, and consumers who've thought through the purchase, are always happier consumers, and the internet makes it a lot easier for consumers to get informed.

Add to the fact that it is HUGE.