This is the future of properties where the owners can actually do this and are independent of the timeshare operator. However, in locations where the timeshare operator still has a hand in governance (all that is needed is one seat on the board for insight) and where the location is desirable, the timeshare operator will scoop up delinquencies and put them in a trust where unsuspecting "points owners" will pay the maintenance fees. The timeshare operator will eventually take over the board of the property and any legacy owners will be at the mercy of the exorbitant fees the timeshare operator pays itself. Eventually all of the legacy owners will give their deeds back, and the timeshare operator will have perfected its plan of having dupes pay the development costs of the hotel it will operate thenceforward. The "timeshare" thing is just a play by developers to fund the development costs. The operation fees are what keeps them going, and as long as people buy the resales and are willing to pay those fees, then it is all good for the new owners and operator/developer. The losers are those who buy from the developer, which is the overarching message of this TUG. Seriously, this forum is amazing to the extent it facilitates second-hand purchasers' enjoyment of timeshares. It will be interesting to see how these things evolve as legacy owners step off. I have not dug into it, but I suspect the points model is a ponzi scheme that might well continue to yield the timeshare operators quite a profit. Resale buyers won't care about reselling themselves; they may just turn the deeds back in cold. I have not looked at the price of points and how that price has changed over the years. If it is increasing, then the operators have hit upon a winning business model.
