Timeshare’s Battle with the Recession, a Relief to the Industry

The recession is said to be ending but the timeshare industry continues to suffer of its ill-effects. Timeshare owners are still seeking for timeshare relief, timeshare companies are still considering closing down their unproductive sales offices, and timeshare workers are still being laid off.

The start of the financial crisis was experienced way back and this year is being said as the beginning of its end. The timeshare industry was greatly affected because other vacation goers cancelled their trips. Not too many people wanted to buy timeshare properties. Others did so through the timeshare resale industry because it offers cheaper acquisition rates compared to new timeshares from timeshare companies.

Because of the decrease in sales, timeshare companies were forced to close down other sales offices while others opted to lay off other staff to limit their operational expenses. The timeshare sales are not enough to some companies necessitating them to cut down their operations.

Aside from that, other timeshare owners are trying to get out of their timeshare contracts because of the burden of their timeshare financial responsibilities. The fees continue to increase and timeshare owners who are not able to use their packages are in the losing end.

Other vacation goers were prevented from buying packages because of the new system that financial institutions implemented during the crisis. Some prospective clients were not able to get individual financing.

If all these predicaments will continue, the timeshare industry will surely have a difficult year. Timeshare owners will continue to get rid of their timeshares while other vacationers will not buy these vacation weeks.