What Percentage of Timeshares Are Unsold?
I went to a travel presentation and I was curious about one of the statistics they gave. They claimed that 49% of timeshares are sold, and 51% are not.. the reason being that if they sold 51%, the company would no longer be the "majority owner" and would essentially no longer own their own property. I think this was a made up statistic, and I was curious if anyone knew what the actual percentage was.
The main reason I think this was made up, is because the presenter went on to say that their company bought the unused portions and could essentially rent them out at cheap prices. But, if they bought it, the hotel companies would no longer own 51%, and therefore, his reasoning for the statistic would not make any sense.
Also, I can’t imagine a builder only selling 49% of their built timeshares. I would think a developer would want to sell as many as possible to make their money back.
That sounds like a stat that the sales team would make up. The developer normally has a master deed for the property and timeshare owners get right of use to their timeshares…just ask a developer if a timeshare owner gets equity in the property!
Unless there is a need for cash, a developer would not willingly give up control of ANY of the ownership rights in my opinion. They spend millions building it and planning for timeshares in order to make significant profits AND equity which they can then use to build more timeshares.
Call BS on the stat!
I would never in a million years trust anything a person trying to sell me a timeshare would say.
Thank goodness you just went for fun and didn’t buy one.
Note: For even more fun, go to Ebay and type timeshares.
Many nice ones on sale for $1
No one, absolutely no one is buying them.
If you consider one take advantage of millions of desperate sellers that are willing to give them away if you just take over the maintenance fees and yearly fees.
Best advise. Take the word timeshares out of your vocabulary for life.
The cost analysis writing is clearly on the wall.
It is always cheaper to rent a nice condo (for a full 30 years) than to buy a timeshare
The only reason timeshare are worthless is because of all the scams out there. If people who owned a timeshare went online first to try to buy one then they would find the company that can sell theirs for them.
If you have a timeshare mortgage there is only one company that can get you out and that is timeshareadventures.com