Redweek listings are just sitting online, not many are renting, a new phenomena and a waste of money for owners at $59 for verify/ protect

[rickandcindy23]

First, I have no sympathy for the people who are renting Disney exchanges. I can tell which ones are exchange rentals. Those summer weeks are sitting online, and I am sure people think it's a sure thing to grab and rent a 2 bedroom for $3,500. I don't like the competition with my own studio DVC rentals, but I digress.

I have weeks listed at Sheraton Broadway, Westin Ka'anapali, and a few other odd weeks, really just SDO and Westin Desert Willow, and some Bonnet Creek and Wyndham Shearwater during times of year that are not blocked for guests. Nothing is renting. This is a year similar to 2020. I can honestly say that my Sheratons are going to be deposited in large numbers for 2024 use year, and I cannot even use this many as exchange, unless I can get the kids to go on more vacations (their names are on a lot of our ownerships).

When weeks rent on Redweek, they are grayed out. Not many are grayed out. Rentals are down this year, is my conclusion. I realize inflation is playing a part. High gas prices, food prices going up, while wages remain stagnant. Vacation or food/ gas/ utilities, people choose what they can afford.

Part of the problem is the outrageous additional money Redweek makes on the back-end of the listing. RW recently put the total amount of the rental with their profit included. If I list my week for $5,000, and Redweek adds $475 that makes a total of $5,475. Redweek is not even paying taxes in Hawaii. I had no idea until recently when a TUG member pointed that out.

They also get the $59 listing fee and $99 out of the total when it rents. Let's just say that I have paid a lot of $59 listing fees lately, and as the rental date gets close, I will have to cancel to get my points or weeks back to use however I can use them. I am losing money at $59 a listing There are no guarantees by RW that your week will rent, I realize that, but what a waste, when the week doesn't rent.

I don't want to be in competition with other owners by reducing my price, and they then have to reduce their price (which you can do anytime on RW or Koala). I see one other listing that is the same as mine, same view, but it's a little lower in price.

Koala also makes money on rentals, but at least I am not out $59 for each one that doesn't rent.

I will probably stop using the RW verified/ protected service. My conclusion is that I can rent myself and save renters money (and me as well).

Too bad Koala is not working better for me. I have two rentals for fall on Koala, however, but not a single DVC rental with RW. I am sure hoping for better results as my dates get near. I can always use David's Rentals as the dates get closer. That is almost a guarantee.

 

[buzglyd]

I had a Premier unit at Lagoon tower for memorial week and hardly got a sniff. Airfares were terrible for those dates and probably contributed to me canceling the reservation and taking my points. I think inflation is a factor for sure.

 

[bnoble]

My conclusion is that I can rent myself and save renters money (and me as well).

How are you going to find customers if Koala is not working? What is your alternative to Koala and Redweek?

The problem might not be Redweek or Koala. The problem might be travel demand. That said, I just got back from San Francisco, and the tourist spots were slammed on the weekend; less so during the week.

 

[jwalk03]

Agree that the rental market is down. I had to reduce prices to move my summer weeks I had available before they went to waste. People also seem to be waiting later and later to book.

I refuse to pay Redweek's extortion for Verified & Protected service. Half my rentals this year came from Facebook. The other half from Redweek. Got no inquires from Koala or Vacation Candy.

 

[TUGBrian]

ive rented 3 vacations this summer alone from TUG members. 2 off the marketplace (am at one right now) and one off the LMR section of the forums!

will agree that for me, i tend to rent far more "last minute" but that is also because living in florida makes just about any florida timeshare available via a relatively short drive!

 

[rickandcindy23]

How are you going to find customers if Koala is not working? What is your alternative to Koala and Redweek?

The problem might not be Redweek or Koala. The problem might be travel demand. That said, I just got back from San Francisco, and the tourist spots were slammed on the weekend; less so during the week.

No, I will take payment myself and just pay RW $30 per ad. That is what I did with my Sheraton weeks that didn't rent. I can move the dates, too.

Our daughter usually rents our Sheraton Broadway, but she didn't rent much for this summer. Myrtle Beach seemed pretty busy during our stay, so I am baffled.

I am also using TUG Marketplace, but unfortunately, it's not working all that well. I think I am about out of ad credits, too.

 

[rickandcindy23]

Agree that the rental market is down. I had to reduce prices to move my summer weeks I had available before they went to waste. People also seem to be waiting later and later to book.

I refuse to pay Redweek's extortion for Verified & Protected service. Half my rentals this year came from Facebook. The other half from Redweek. Got no inquires from Koala or Vacation Candy.

I have not tried Facebook. How would I do that? I think our daughter did list our Sheratons on Facebook. She is pretty tech savvy, while I am not.

I have to hope for a better 2025, I guess, but I am considering deeding back some of our weeks.

 

[Pink_Warrior]

I think that sellers don't deactivate their listings. My daughter is in Nassau with an Airbnb horror story. I reached out to five sellers who had listings right now available in Harborside. Zero sellers responded. There was also a night on Airbnb. I reached out to the seller. It was immediately declined as not available. Exactly how is this possible?

I had originally inquired months ago and the owner said that he had nothing left for 2024, yet the listing remained. So instead of shutting down the listing I think that they just stay up until the seller finds new dates at the same resort and then changes the listing.

 

[rickandcindy23]

I think that sellers don't deactivate their listings. My daughter is in Nassau with an Airbnb horror story. I reached out to five sellers who had listings right now available in Harborside. Zero sellers responded. There was also a night on Airbnb. I reached out to the seller. It was immediately declined as not available. Exactly how is this possible?

I had originally inquired months ago and the owner said that he had nothing left for 2024, yet the listing remained. So instead of shutting down the listing I think that they just stay up until the seller finds new dates at the same resort and then changes the listing.

Airbnb is definitely hurting timeshare rentals. Same with VRBO. I know we can list on those sites, our daughter uses both for our Sheratons in Myrtle Beach.

So sorry your daughter is having a bad experience.

I received an inquiry on a Thursday for a rental for the following Saturday from my TUG ad, and I had just cancelled the week about two hours before. I was kicking myself for cancelling it but was afraid I would forget.

If the week is verify/ protect with RW, the week sits until it's rented. RW likes to make sure people know that something is rented, so those are grayed out immediately. But I see some that are still active but I am sure they didn't rent. There will be two nights left of a full week. I cannot believe this one didn't rent:

 

[chapjim]

I don't know what this listing was for nor your history of renting this or similar weeks. But I think that a price of $5,500 would substantially reduce the population of potential renters.

 

[rickandcindy23]

I don't know what this listing was for nor your history of renting this or similar weeks. But I think that a price of $5,500 would substantially reduce the population of potential renters.

Westin Ka'anapali oceanfront in a one bedroom does go for that price. Edited to say, "historically a one bedroom oceanfront will go for that price."

Shearwater owners are asking outrageous amounts of money for their units, and it ain't Westin.

 

[TolmiePeak]

I don't know what this listing was for nor your history of renting this or similar weeks. But I think that a price of $5,500 would substantially reduce the population of potential renters.

Yeah, $5,500 a week seems steep to me. I wouldn't even consider it until the price came down to $3,500.

 

[jp10558]

Yea, IDK who the market is for $5,500 a week timeshare rentals, but it's certainly not me. I guess I don't need ocean front so would look for much cheaper. I just somehow doubt there's a huge market that has to have Westin level and Hawaii has a lot of options. MF with Wyndham or HGVC is around $1,700. The most expensive RCI I could find quickly was $2,500. ebay is listing under $2,700. These are the prices to beat in the "in the know" timeshare people, and I think for the masses a lot of stuff - especially anything optional - is on hold right now. Sky high interest rates, prices rising. Look at the youtube videos on the new and used car markets with companies filling lots with "what the car is worth" that NO ONE is buying.

So long and short, I don't dispute the going rate for the location, just that I think there's very little people looking for that price when they can substitute good enough for less than 1/2.

EDIT: And TBH the redweek rates always seemed steep already.

 

[byeloe]

I have not tried Facebook. How would I do that? I think our daughter did list our Sheratons on Facebook. She is pretty tech savvy, while I am not.

I have to hope for a better 2025, I guess, but I am considering deeding back some of our weeks.

There are a few different facebook groups like https://www.facebook.com/groups/131529330535345
There are some resort specific groups also. We have listed and been successful using both

 

[dioxide45]

Yea, IDK who the market is for $5,500 a week timeshare rentals, but it's certainly not me. I guess I don't need ocean front so would look for much cheaper. I just somehow doubt there's a huge market that has to have Westin level and Hawaii has a lot of options. MF with Wyndham or HGVC is around $1,700. The most expensive RCI I could find quickly was $2,500. ebay is listing under $2,700. These are the prices to beat in the "in the know" timeshare people, and I think for the masses a lot of stuff - especially anything optional - is on hold right now. Sky high interest rates, prices rising. Look at the youtube videos on the new and used car markets with companies filling lots with "what the car is worth" that NO ONE is buying.

So long and short, I don't dispute the going rate for the location, just that I think there's very little people looking for that price when they can substitute good enough for less than 1/2.

EDIT: And TBH the redweek rates always seemed steep already.

I would have to agree. Over the past several years I suspect the size of the market looking to spend $5500 for a week of accommodations has narrowed quite a bit. As the potential target market gets smaller, it reduces the overall demand. Also, a lot of people bought timeshares in the run after the COVID lock downs. Those people who may have rented before and then bought are now looking to just book and use what they bought.

 

[davidvel]

I don't know what this listing was for nor your history of renting this or similar weeks. But I think that a price of $5,500 would substantially reduce the population of potential renters.

Westin Ka'anapali oceanfront in a one bedroom does go for that price. Edited to say, "historically a one bedroom oceanfront will go for that price."

Shearwater owners are asking outrageous amounts of money for their units, and it ain't Westin.

There are a lot of 2BR MOC New Towers Oceanfront listings around that price. Westin must be incredible for a 1BR to cost the same amount.

 

[rickandcindy23]

All it takes is a little perusal of RW to discover the true value of a week. Marriott and Westin get way more for rentals than other resort systems, and Maui is highly desirable. But you all know that.

TUG members are cheapskates, and I know because I fit right in with all of you. I doubt many of you rent on Redweek to use yourselves.

This was not about what my Westin goes for ($4,500 last year net for the one bedroom full kitchen villa), it was really about nothing renting for any price. Nothing Disney, very few Westin, nothing at Wyndham Shearwater, which is a surprise. I see some at Bonnet Creek that have rented, but a lot are sitting there. It's a sign of the times.

I am renting most of my Sheraton Broadway weeks that I have left at my MF cost.

 

[rickandcindy23]

There are a lot of 2BR MOC New Towers Oceanfront listings around that price. Westin must be incredible for a 1BR to cost the same amount.

2 bedroom units in off-season maybe, but this is whale season/ spring break, and I looked at Marriott and see the same prices. But this is not about one listing. It's about every resort I see, many weeks are not renting.

If you want to compare. Westin and Marriott are probably equal to most of us, when you are comparing one bedroom to one bedroom, but for me, a studio at Westin Ka'anapali is far better than a studio at Marriott. The Westin studios still have a nice little kitchen and a washer/dryer. I rented my studio last year for $3,200 because it was February.

 

[TolmiePeak]

The RedWeek prices I don't get are for Cypress Harbour in Orlando. Many people are renting for $250 to $350 a night. I booked directly on the Marriott website for < $200 in early December.

 

[emeryjre]

Another way of evaluating people and travel is to review the Airlines quarterly reports
The airlines are not filling all the seats as they have been doing since the pandemic
They are seeing softness in certain markets
They see a slowdown in miles flow for the 3rd and 4th quarter
The growth rates for economy seats had been growing the fastest
Indicating people are cutting costs if they are flying
The growth rates for premium seating is very low
People are on a budget
The Federal Reserve Board (FED) has been working to cool the economy and dampen inflation by raising interest since March of 2022
The Fed feels it has come a long way to achieve its goals.
A rate cut is very possible by the Fed in September of 2024
This is all part of the business cycle

 

[jp10558]

All it takes is a little perusal of RW to discover the true value of a week. Marriott and Westin get way more for rentals than other resort systems, and Maui is highly desirable. But you all know that.

TUG members are cheapskates, and I know because I fit right in with all of you. I doubt many of you rent on Redweek to use yourselves.

This was not about what my Westin goes for ($4,500 last year net for the one bedroom full kitchen villa), it was really about nothing renting for any price. Nothing Disney, very few Westin, nothing at Wyndham Shearwater, which is a surprise. I see some at Bonnet Creek that have rented, but a lot are sitting there. It's a sign of the times.

I am renting most of my Sheraton Broadway weeks that I have left at my MF cost.

I mean, the question I have is the "At any price". At any profitable price it's probably not, but I bet there's *some* price it would rent at. I still think that even if you want Westin, it's easier to substitute Marriott or HGVC or the like that it is to substitute hamburger for steak. It's vacation accommodations, and we're not talking about going from the Waldorf to the sketchy motel on the side of the road - we're talking about dropping down a class or two, but still easily being in upper mid tier.

And this goes back to the rumbles of MVC pricing themselves out of the market. Maybe it all turns around next year - might just depend on how long the prime rate stays high and if the retail interest rates go back down if it goes down. That said, there's the youtube rumbles out of the car market perhaps being as bad as 2008 subprime and being a huge bubble ready to burst. IDK if it's true or not, but new cars have really pushed their costs out of this world too - and people may not be able to pay.

 

[VacationForever]

I would bet that renting at MF or a couple of hundred dollars above MF would rent out easily. It's one's perspective of what is "at any price".

 

[rickandcindy23]

I would bet that renting at MF or a couple of hundred dollars above MF would rent out easily. It's one's perspective of what is "at any price".

My particular week is one of those, "If I rent it for this price, great, but if it doesn't rent, I will use it."

I wasn't even going to list that particular week for spring break, originally, then I did get an ongoing search match for the same week through II, which I will use, if this week rents. If it doesn't rent by 60 days before, I will retrade the exchange and stay in our owned unit. I will reduce the price somewhat but not a lot.

We just had a major hailstorm a few weeks ago in our town. Our son's 2003 Nissan Maxima that has been sitting in his driveway that needed some work was damaged beyond repair. He is a procrastinator and kept meaning to sell it. The car had full coverage. It was a great car, but now it's pummeled by hail. The neighbor offered to buy it from our son for his teenager who was learning to drive a stick. The car is a six speed and would be great for a teenager. The guy offered $2,500 for the car. Our son chose to keep it and not sell it. He was going to replace the tires and battery and drive it to/ from work instead of his Infinity. The insurance company gave him $7,100 for the car and towed it away last week. Kind of a strange turn of events.

The point of the story: One man's trash is another man's treasure.

 

[davidvel]

2 bedroom units in off-season maybe, but this is whale season/ spring break, and I looked at Marriott and see the same prices. But this is not about one listing. It's about every resort I see, many weeks are not renting.

If you want to compare. Westin and Marriott are probably equal to most of us, when you are comparing one bedroom to one bedroom, but for me, a studio at Westin Ka'anapali is far better than a studio at Marriott. The Westin studios still have a nice little kitchen and a washer/dryer. I rented my studio last year for $3,200 because it was February.

No these are 2BR for this summer and beyond.

 

[4TimeAway]

In Hawaii Japan seems to be impacting the resale market prices. In the US, I agree budget stress is real.

Substitution in vacation, $500 a night for $300 a night. That's what we've done. For us STRs are only used if we are bringing dogs. Hiltons are not bad per night and if you are diamond, the ugrades make it compelling.

For us at $500/night it would 2@$250 so more family can travel.