Do the exchange companies ever promote the benefits of owning a timeshare?

Started by Happy Days are here again, March 13, 2012, 23:34:56

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Happy Days are here again

It must be great being a exchange company.

Virtually every day of the year in many countries the benefits of joining a exchange company are being promoted by a resort salesperson in order to sell a timeshare.

More often or not 2 years membership to RCI or Interval is included in the final sales price.

Great business for the exchange companies having a army of salespeople selling their benefits but why do we never see a exchange company reversing the procedure and advertising the benefits that can be attained by way timeshare ownership?

Since the early days of timeshare exchange the companies have diversified to such products as cruising in order to maintain and grow their annual turnover.

It can not though be possible that they have lost track that without the timeshare owner they would not be where they are now.

They therefore must also be aware of the need to retain existing members as well as recruiting new.

Could they not  give a little back by way of press advertorials that promote the benefits of being a timeshare owner with them?

If this was to happen it could well go a long way to giving the re-sale market a much needed shot in the arm but I am not holding my breath.





Morpheus

Too late, too late was the cry

I agree this is part of the problem

The other aspect of it is that the exchange companies appear to collude with rogue developers, or at least turn a blind eye to their practices, so that there is little incentive on them to behave.

The exchange companies, one in particular, stood back during the period of excess and made no comment and took no action when some resorts engaged in widespread (and widely reported) naughtiness. This began the tarnishing of timeshare, and the current situation.

It is why we left RCI at the end of last year, too greedy, too expensive and too much hassle.
Long time member of MORPS (www.morps.org) the RCI Points owners group.
Experienced timesharer

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Willself

AGREE!!  with all thats been said!. But playing Devil s advocate!! lol a new role 4 me!! ha ha!! The Exchange Companies  might argue

that  they are ONLY  the Service Provider!! i.e. The exchange! of the weeks // points in Question...20+ years ago..RCI. was independant

Sadly No longer!! They are part of  a Major Player! in the  Timeshare  Market Place..

Carolinian

Back when RCI was independent, still owned by founder Chrystal deHaan, it worked closely with its affiliated resorts and was much more member-friendly.  In those days, the ownership/exchange model of timesharing worked, in part because of the exclusivity where one had to own in order to participate.  Off season weeks were starter weeks for people to get their feet wet, or weeks for those with more flexibility and less income, like retirees, to trade for the last minute inventory when trading power was turned off.  Then Cendent (now Wyndham) took over and things changed.  Cendent brought in their bean counters to look to push the envelope for short term profits with no concern about the sustainability of the ownership / exchange model of timesharing.  They quickly got into renting to the general public, which did a number of negative things.  It destroyed exclusivity, most importantly, meaning non-owners could play the timeshare game without having to buy a timeshare week.  Second, it flooded the rental market, impairing the ability of timeshare owners to rent out their own weeks, and driving down their rental return when they could.  Third, it took inventory out of the exchange pool, making many exchanges harder to get, not only the prime high demand weeks, but also the last minute gems which had kept the off season owners who played the last minute exchanges in the game.  All of that pushed more people to want to sell because timesharing was no longer what it had been under deHaan.  New twists like RCI Points and ''enhanced Weeks'' (a/k/a Points Lite) found favor with some but further turned off other.  Timesharing has been staggered under blows attacking its long term sustainability all because the bean counters at Cendent / Wyndham, owners of RCI, were trying to goose short term profits.  II has played copy cat to some degree on a few aspects of this, so they are not totally innocent but it has mainly been RCI driving the train wreck.
 

Morpheus

Quote from: Carolinian on March 14, 2012, 15:05:54
Back when RCI was independent, still owned by founder Chrystal deHaan, it worked closely with its affiliated resorts and was much more member-friendly.  In those days, the ownership/exchange model of timesharing worked, in part because of the exclusivity where one had to own in order to participate.  Off season weeks were starter weeks for people to get their feet wet, or weeks for those with more flexibility and less income, like retirees, to trade for the last minute inventory when trading power was turned off.  Then Cendent (now Wyndham) took over and things changed.  Cendent brought in their bean counters to look to push the envelope for short term profits with no concern about the sustainability of the ownership / exchange model of timesharing.  They quickly got into renting to the general public, which did a number of negative things.  It destroyed exclusivity, most importantly, meaning non-owners could play the timeshare game without having to buy a timeshare week.  Second, it flooded the rental market, impairing the ability of timeshare owners to rent out their own weeks, and driving down their rental return when they could.  Third, it took inventory out of the exchange pool, making many exchanges harder to get, not only the prime high demand weeks, but also the last minute gems which had kept the off season owners who played the last minute exchanges in the game.  All of that pushed more people to want to sell because timesharing was no longer what it had been under deHaan.  New twists like RCI Points and ''enhanced Weeks'' (a/k/a Points Lite) found favor with some but further turned off other.  Timesharing has been staggered under blows attacking its long term sustainability all because the bean counters at Cendent / Wyndham, owners of RCI, were trying to goose short term profits.  II has played copy cat to some degree on a few aspects of this, so they are not totally innocent but it has mainly been RCI driving the train wreck.


This is probably the best post I have seen anywhere on this.

I was going to post that the Cendant takeover of RCI was the turning point when timeshare went from "good" to "bad", when revenue overtook service as the driver. Add in that RCI soon started renting out some of the very weeks that we wanted to exchange into, and owner satisfaction was inevitably damaged. And don't forget these were OUR weeks, deposited for exchange but taken for short-term commercial benefit.

Long time member of MORPS (www.morps.org) the RCI Points owners group.
Experienced timesharer

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eneri

Although I have never been a member of RCI, from reading about them on this forum and elsewhere it's hard to disagree with anything Carolinian has written. That said, as Morpheus alluded to in his first post, I don't think all the blame can be laid at the door of RCI and exchange companies in general. The developers/resort owners must shoulder their share of the blame. I myself have booked an exchange through II at a Diamond Resort (Sahara Sunset) then found out friends had booked a party in through a travel agency two weeks later, for less than it had cost me. I have also stayed at resorts where I have been offered the chance to book up further holidays for myself or my friends directly with the resort. The numerous agents working on behalf of the major resort owners who offer cheap holidays to anyone, just to get them to sit through the 'ninety minutes??' sales pitch doesn't really help the timeshare image either.

Yes, there's something rotten in the timeshare industry but it's not all down to RCI.
 

mumx3

too greedy, too expensive and too much hassle

Unfortunatly I think this sums it up, it's the greedy people at the helm of these companies that have now given Timeshare a bad name, I really don't think there are any benefits of being a timeshre owner anymore.

I think by reading the posts on this site with so many unhappy members says it all.

Carolinian

Oh, I agree that developers are a big problem, too, primarily in two ways.  First is the sleazy high pressure techniques they use to sell timeshare.  Second is the way that too many of them try to keep control of resorts for their own benefit after they sell them out.  Personally, I do not buy at developer-controlled resorts.  Every resort I have owned at was member-controlled, and that has included resorts in the UK, US, continental Europe, South Africa, and Australia.  If you buy resale at member-controlled resorts and use independent exchange companies for your exchanges, you should be able to avoid the biggest pitfalls in timesharing.


Quote from: eneri on March 14, 2012, 17:47:08
Although I have never been a member of RCI, from reading about them on this forum and elsewhere it's hard to disagree with anything Carolinian has written. That said, as Morpheus alluded to in his first post, I don't think all the blame can be laid at the door of RCI and exchange companies in general. The developers/resort owners must shoulder their share of the blame. I myself have booked an exchange through II at a Diamond Resort (Sahara Sunset) then found out friends had booked a party in through a travel agency two weeks later, for less than it had cost me. I have also stayed at resorts where I have been offered the chance to book up further holidays for myself or my friends directly with the resort. The numerous agents working on behalf of the major resort owners who offer cheap holidays to anyone, just to get them to sit through the 'ninety minutes??' sales pitch doesn't really help the timeshare image either.

Yes, there's something rotten in the timeshare industry but it's not all down to RCI.
 

Happy Days are here again

Fully agree with you Willself.
Yes the exchange companies would no doubt claim to be no more than a service provider.
The fact that they would not have grown to their current levels without us long standing timeshare owners would bear little impact.

Let's dream on though for a moment and visit cloud cuckoo land.

Let's assume they ran a series of press adverts promoting the benefits as they saw them of being a timeshare owning member with them.Their advert would in turn lead the reader to their website where a tuitional video could be found which further reinforced the benefits.The video would extol the virtues of making exchanges to exotic destinations as well as being able to pick up bonus weeks/getaways etc all of which could be booked through them along with flights and car hire etc.

Now the dream becomes pure fantasy.

As a result of their advertising they find that over a period of time they have managed to recruit a few thousand new members.
The gain for them would be that of these new members the majority of them would stay members for five years or more thus making it a successful advertising campaign.
The gain for the existing timeshare owner would be that many of these fictional thousands would have purchased their timeshare via a resale agent or e-bay which in turn would probably force resale prices to rise above their current giveaway levels.

Now I wake up

We know something like this will never happen because even though they may be losing many of us long standing members each year it remains a fact that they will continue to grow their overall numbers by way of the persuasive on site sellers that link membership rights as part of their sales deal.

Incidendally I can think of no other industry apart from the exchange companies where a third party sells their product for them without reward.

Maybe without these on site sellers the exchange companies might well have to look at ways similar to my dream of retaining existing members in what would undoubtably be a declining market for them.

Sorry to have bored you with this nonsense and I am fully expecting some 'dream on' replies but thankyou for sharing my dream.

eneri

'Happy Days are here again'
Of course you're right in much of what you say. The exchange companies, especially RCI have been ripping off people in various ways for years now. Sadly, even if your dream came true it would not make much difference overall. The reason for that is because so many people for whatever reason just want out of timeshare. They will either pay (sometimes dodgy) companies to "legally" release them, try to "sell" them for nothing on e-bay or simply walk away and hope they won't get chased. The upshot is that resorts are left with declining memberships and as fees rise for those left, more and more of them wanting out. So of course, in trying to retain their profits the timeshare industry comes up with more and more bizarre schemes (or moving the goalposts as I see it.) to tie in the existing cusomers. All this has done is help create a market for (mostly scam merchant) companies offering to help people GET OUT of timeshare.

My 'dream' which I've mentioned ad nauseam is for the timeshare industry as a whole to allow secure exit stategies for those wanting to leave. That would be a major first step to the timeshare industry redeeming itself and finally end the 'nightmare' for those who feel trapped; and just possibly make it more attractive to new potential timeshare owners.
 

Carolinian

Hapimag has always had an exit strategy, and you do not see their timeshares selling for peanuts on eBay or elsewhere.  I wish I did so I could buy one.

RCI is never going to run ads promoting timeshare that might include info on resell purchase as that would undermine the developers, whom they see as their primary clients rather than the members.

DAE does advertise on various websites, mainly targeting existing timeshare owners, which is a more productive target market for them.

Given the rising dissatisfaction with RCI, resorts should be motivated to get the word out on DAE and other alternatives to RCI, and some are already doing that.
 

Willself

Carolinian.

Sadly not FAST!! enough..But DaE. are Head and Shoulders above the REST!!

Morpheus

Quote from: Willself on March 21, 2012, 09:55:35
Carolinian.

Sadly not FAST!! enough..But DaE. are Head and Shoulders above the REST!!


And also accept holiday homes and apartments for exchange so offering locations the typical resort developer cannot offer (says he, off to rural Ireland in four weeks with DaE).
Long time member of MORPS (www.morps.org) the RCI Points owners group.
Experienced timesharer

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Kavrocks

The other aspect of it is that the exchange companies appear to collude with rogue developers, or at least turn a blind eye to their practices, so that there is little incentive on them to behave.

Morpheus

Quote from: Kavrocks on May 26, 2012, 14:33:17
The other aspect of it is that the exchange companies appear to collude with rogue developers, or at least turn a blind eye to their practices, so that there is little incentive on them to behave.


I think that is too much of a generalisation.

But I agree. RCI have been far, far too cosy with the rogues, and rather than attempting to resolve problems, have done nothing at all or even seemed to condone things.

Others, like DaE discussed above, seem to play a neutral role, doing what a good exchange company do, which is exchange weeks! No nonsense, no arrangements to give more points to some developers than the resort is worth, no huge costs. Just a simple, straightforward, week-for-week exchange system and a totally transparent inventory.
Long time member of MORPS (www.morps.org) the RCI Points owners group.
Experienced timesharer

If you LIKE the advice any member gives, please feel free to click the "APPLAUD" by their name and details on the left. It makes us feel valued.

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