In the past I've said repeatedly that the glut of owners renting at bargain basement prices compared to what Extra Holidays charges would be an issue for Wyndham. That they've invested too much time and money into developing, advertising and operating Extra Holidays to not eventually have to do something about it. One doesn't have to be a business whiz to understand that.
I haven't been a fan of Extra Holidays in the past but I'm learning from friends who are now using EH that things have changed.
Here's some things to consider.
1. Owners who rent for less than Extra Holidays gets devalue the product. That not only hurts EH but also other owners.
2. If an owner is using a point manager the point managers are making at least 40%.
3. Extra Holidays can advertise the rentals and sell them in more ways than the owner or point manager can. EH is selling owners stays on the different travel sites; not just on the EH website.
4. If the entire reservation doesn't get sold but some or all of the remaining nights do later sell Extra Holidays is now paying the owners for those nights. I don't know when this change came about but it's huge plus for owners. Also from what I learned the owner isn't being charged for the additional housekeeping credits if those other nights sell.
5. Extra Holidays offers security to the buyer that they don't get when they rent directly from owners and point managers. Some of you might not be aware that there's been a number of issues and I'm not talking about a few isolated incidents. This is something the heavily rented resorts in particular deal with and have reported up the chain of command.
6. Wyndham is allowing owners who've gotten "the letters" to rent through EH.
7. But I'll have to deal with reporting it on my taxes if I use EH! Unless the buyer is paying the owner in cash or by check for their rental using the payment sites/apps isn't a way around that anymore or not for much longer.
8. Owners always have the option to call in and cancel a reservation if no part of it rented as long as it's still 15 days before the check in date. However if the owner has a good reservation EH reps are advising that there's a lot of people buying stays with two weeks of the check in date. This is something the mega renters and point managers know and why they find it worthwhile not to cancel some reservations that haven't yet rented.
9. Extra Holidays reps have lists of resorts and dates that are needed to help owners with what to book. From what I was told they will not take reservations for stays on the Owner Priority lists. Also the reservation only has to be 30 days out now not 60 days like it used to be.
10. The buyers being allowed to cancel with 14 days is still a major concern for owners who use Extra Holidays. I'm sure that Wyndham is working on a solution. Is there already an option for the reservation to be purchased as refundable or nonrefundable? Although anyone who rents on their own either has or eventually will have to deal with a buyer who has a death in the family, an accident or illness that makes the family unable to go, weather related issues, etc.
