Hi everyone, I have been involved in timeshare ownership for around 23 years now. I know we are going through unprecedented times but there is so little happening -even on this site may I say.(Or so it seems).
RCI have so very little choice -yet seem to have a massive "extra week" stock, in some ways I wonder how this can be, surely quite a lot would bank as they wont want to travel due to possible travel changes that can occur whilst away, another point is that historically timeshare sales could take place over 50 weeks with two weeks -or even 1 allocated for maintenance.
So I am not quite sure why there are so many extra weeks? Is that owners are giving back weeks at an unprecedented rate I wonder? Am I missing something or is it destined to fail soon - with the likes of RCI going bust?
Confidence in any product is key to its success and given the adverse publicity attracted by Timeshare since the advent of the internet and the developers failure to act upon what Timeshare was getting so obviously wrong has led to the sorry state the industry finds itself in today.
OK. We and they can blame it on outside influences such as Brexit and Covid but lets not kid ourselves. It is down to greed and the belief that they the developers were untouchable and all would be well, eventually, if they just let things drift along.
They can write positives wherever they like but those positives are and have been countered by a barrage of dissatisfied customers complaining all over the internet.
What have the developers done about it? They have had years of annual conferences about it. Discussed it until they were blue in the face. gone away and done exactly nothing coming back annually to do exactly the same. NOTHING. Result. Timeshare is now in limbo until further notice.
Totally agree, I have the equivalent of 7 weeks in the RCI bank and still paying fees to extend their use by RCI and of course maintenance fees annually. RCI have now started splitting UK weeks into 3 and 4 day holidays of course with the same booking fee. I do have some sympathies as the scenario we are in is unprecedented. However, one of these days, despite the size of RCI I feel a massive fall could happen for the whole industry, unless they realise that there are immense financial pressures looming - inflation, fuel, static wages higher National Insurance to name a few. There will be a mass exodus I feel unless incentives and confidence in timeshare is propagated. Its a shame because it has been great for us in the past but its becoming a bit of a mess.