Timeshare sales all over the world have been dropping in view of the ongoing global economic recession. Worse, the droves of timeshare owners who are getting rid of their timeshare vacation packages mean worse financial straits for timeshare companies in the coming season. The economic crunch has seriously affected the luxury vacation industry most especially the timeshare business. Major timeshare companies all over the worlds have experience massive losses on sales not to mention total company revenue by reason of the recession.
Even the largest timeshare developers have not escaped the effects of the credit systems crash. As a matter of fact, Starwood Hotels, one of the leading timeshare developers in the United States reported massive losses to its timeshare division for the third quarter of this year. Operational revenue for Starwood timeshare vacation packages dropped a total of $ 47 million US dollars in contrast to its sales in the third quarter of 2008.
Starwood Hotel’s timeshare division reported a 31.7 percent fall on total company revenue amounting to about 125 million US dollars compared to its timeshare sales in 2008. Worse, Starwood has recently executed cost-cutting corporate measures for its timeshare division. Starwood Hotels is planning massive employee layoffs to increase company savings. Potential timeshare buyers can take advantage of Starwood Hotel’s predicament as the mean sale price of Starwood timeshare vacation packages fell to almost 22 percent. However, this is unfortunate for many existing Starwood timeshare owners who opt to sell their vacation packages for timeshare relief as Starwood unit values is currently at its lowest.
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