Post reply

Re: Successful Resales & Rental Feedback Wanted (by Jennifer C.):

@peterp151: While I understand your perspective as an owner wanting to get the value out of your timeshare, you need to consider the following when complaining about people wanting to rent for less than the full 7 days.

1. Unless retired, many people do not have the luxury/vacation time to take time off from work in 7-day-stretches. I work in tourism consulting, and study after study has shown that people are now taking several short, 3-4 day vacations or long weekends throughout the year as opposed to the traditional "7-day vacation" they have in the past. Busy work schedules, kids' school schedules, and the frenetic pace of modern life are slowing eating away at the traditional model. The U.S. Travel Association has done a lot of polling on this over the past several years -- lots of good research on their website.

2. Right now, we are in one of the worst economic crises since the 1930s. Unemployment is at record highs, and even those who stil have the funds to travel are making decisions based on the best value they can get for their dollar. The travel industry has taken a huge hit during this recession, and the traveling public knows it. To categorize people as "bottom feeders working to get a better deal" is a little extreme when such unusual market forces are at play.

3. The supply/demand curve and demographics play a huge role in the pricing of both hotel rooms and timeshares, and right now, there is massive overcapacity in both. During the boom years, hotels and timeshare complexes were overbuilt -- now, during the bust, that excess capacity will drive prices down. Shifting demographics are also going to have a huge impact on the timeshare market within the next decade. When you consider who uses timeshares, families often come in at the top of the list, since mutliple bedrooms and a full kitchen are a big attractions when you have kids. However, the Boomer demographic is aging, and the demographic that is taking their place - Gen X - is much, much smaller. Most young families traveling today (including the affluent ones purchasing or renting timeshares) are headed by Gen X'ers, who have increased leverage with pricing negotiations by virtue of their smaller numbers (more units chasing a smaller number of potential prospects). This is why we've seen such a cratering in the second-home market in recent times...there just aren't enough buyers (demand) to support to the number of properties (supply) on the market.