Corona Virus Impact On Your Timeshare

[A.Win]

Do you think your timeshares will suffer with this virus?

I will speak to the ones in my area.
1. Massanutten should do alright because it is a mountain resort. I'm thinking that people canceling their flights may choose to drive to Massanutten for fresh mountain air. Parents will soon be teleworking and kids will soon be out of school.
2. I am also familiar with the DC area. So Wyndham National Harbor and Alexandria will probably take a big hit. National Harbor gets visitors for conferences at the Gaylord convention center. Many Washington DC conferences and meetings will be canceled. I expect lots of vacancies at hotels and resorts in cities like San Francisco, New York, Chicago, etc.

 

[geist1223]

I checked Worldmark in Hawaii for the next 120 days. Nothing available.

 

[CPNY]

Do you think your timeshares will suffer with this virus?

I will speak to the ones in my area.
1. Massanutten should do alright because it is a mountain resort. I'm thinking that people canceling their flights may choose to drive to Massanutten for fresh mountain air. Parents will soon be teleworking and kids will soon be out of school.
2. I am also familiar with the DC area. So Wyndham National Harbor and Alexandria will probably take a big hit. National Harbor gets visitors for conferences at the Gaylord convention center. Many Washington DC conferences and meetings will be canceled. I expect lots of vacancies at hotels and resorts in cities like San Francisco, New York, Chicago, etc.

I had meetings At cap hill and Albany this week and next, both cancelled.

 

[JudiZ]

Both my husband's and my son-in-law's companies have cancelled all travel for the foreseeable future. Not sure how it would impact timeshares.

As for our personal life, we have a trip to Orlando in April for our grandson's school break. We didn't tell him about it to begin with and are not telling him now (he is on the spectrum and would fixate on it). We are taking a "wait and see attitude." Legoland/Gatorland/Waterparks will still be there if we need to cancel and reschedule for next year. He is one of the most precious things in our life (as children are to all of us, I am sure) and we will remain overly cautious when it comes to him. Since we have traded for a timeshare, I think this would be a direct issue. Not to mention the impact on places like Orlando in general.

I guess time will tell...

Judi

 

[jabberwocky]

It depends on what you mean by timeshare.

If it is the individual HOA - probably minimal impact. Most owners have probably already paid their MFs for 2020. Having a fixed ownership base provides stability that hotel companies probably envy right now. One negative may be the inability to rent out unused weeks because of decreased demand.

For the timeshare companies (Marriott, Wyndham, Hilton, Westgate, Diamond etc.) this will probably be painful. While their management fees will be largely unaffected, I suspect that if travelers are canceling this means less prey falling into the sales presentation trap. Also, probably less rental of developer owned weeks.

For the individuals renting their weeks out - I suspect that less demand will mean higher vacancy rates and the need to lower asking prices except for high demand locations that are relatively unaffected by Covid-19.

II and RCI - could be a mixed bag here - many owners may decide to deposit their 2020 weeks for a future year rather than use them. This could mean increased fees for II and RCI and greater inventory. On the other hand, demand for getaways will probably decrease.

 

[Steve Fatula]

For me, I consider my timeshare stays safer than hotel stays since there are less people around (or as close), no one else in the room each day, etc.

 

[CO skier]

Do you think your timeshares will suffer with this virus?

For most timeshares, the maintenance fees are paid whether the unit is occupied or not.

The sales prices of timeshares are sure to take a hit has a result of COVID-19. There will likely be more defaults on timeshares. It is obvious that both of these would be bad for timeshares.

My WorldMark timeshare will not suffer, because maintenance fees are paid on every credit in the system without regard to occupancy, and the developer pays the maintenance fees on all foreclosed memberships -- arrears and future.

 

[easyrider]

Yup, Corona Virus has affected the economy and that always affects spending which always affects vacations. So the total effect on timeshares will be negative, imo.
Thinking back to the 2009 swine flu I remember Mexican Resorts had very high vacancy even though no one had the swine flu in Mexico. With the Corona Virus it might be high vacancy rates in areas that Asian travelers frequent.

Bill

 

[DannyTS]

If the business is slow maybe Marriott will have an additional reason to offer mass MVC enrollment to all Vistana and Marriott owners since they will make a lot of cash by doing so

 

[chapjim]

At the moment, I'm not concerned about my timeshares.

We have a confirmed case of COVID-19 at my workplace. Sometime today, a HAZMAT crew will come in to do a deep cleaning. I'll go home and telework.

For those in the vicinity of Washington, DC. you may have heard on WTOP about an infected Marine. He works here. Dozens of people here have self-quarantined.

Edit: I should have added that I'm not particularly worried about COVID-19 either. While I'm in the elderly category, I don't have anything else going on that would make me high risk.

 

[DannyTS]

I check Interval almost daily for deals and I do not see any sign that the timeshare owners are panicking. We are currently at Lagunamar in Cancun and having a great time. The resort is fully booked. We do not want to benefit from other people's misery but what are those cancelling cruises going to do this year? Some may choose a timeshare condo instead where they can cook their own food and interact less with others.