Dumping of timeshares is coming.....Prepare yourself for big maintenance fee increases and special assessments !!!! The timeshare crisis is upon us where late Fall, Winter and early Spring weeks are not worth what you are paying in maintenance fees, special assessments and other excuses to separate you from your money. The more people that dump their timeshares the more your fees will go up. I am not telling you to dump your timeshares. If you own several timeshares and plan on dumping them I would consult a good attorney first to see if something can be negotiated. There are some legal options. The years of getting good benefit from timeshares is almost over with because of management companies aka "CROOKS" and BOARD MEMBERS aka "CROOKS" who don't do their jobs and cause these outrageous increases in maintenance fees and special assessments above and beyond the cost of living increases. People with prime time Summer weeks are probably still getting a fairly good deal for their money. One day this will all end with a timeshare implosion. It is going to happen....it is just a matter of time. I don't think all Board members are crooks or all management companies are crooks but the proof is in the pudding after what I have seen with several complexes. Money is at the root of all this !!!!
Hi OceanBreeze,
I think you smell blood in the water
The TS industry is certainly in a shake up phase and the fallout from the financial crisis is catching up to everyone for sure.
I *do* think a lot of smaller TS companies may get swept away once the final wave of the crisis catches up. As far as the big companies, MVC and Hilton and Wyndham seem to be holding their own.
Big shakeups have occurred (and are occurring) within MVC due to the merger. I do think there will be some shake up with regard to fees and assessments to catch up everything, especially for Vistana TS (westin/sheraton/etc) which were in limbo for a few years of ownership changes.
I *do* think MF are a bit out of control. I've certainly posted bunches about that. MVC MF went up even when costs in the economy were going down, and meanwhile some others were able to hold MF steady.
Honest conversation about MF is necessary for sure, especially at the ts meetings/board. I *do* at times find it disheartening that our cost / day of stays has never truly gone down and that for the same amount of money ($608 per night right now if I remember correctly based on all paids ins) we could stay in some very posh suites instead.
I *do* agree that it's disheartening that we could sometimes pay out of pocket and stay in the same places for 1/3 to 1/2 our total paid in cost. This for off season stays and what not.
But then I also remember the positives... So far TS owners don't have to pay hotel rate taxes for stays... So far TS owners at many locations don't have to pay daily resort and daily parking fees. These savings can actually be pretty huge, especially in Hawaii w 16.5-18% hotel tax and $30-40 daily parking and $25-35 daily resort fees. (YES I just defended TS
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