Originally Posted by
boucharda
Topiic not really related to a flyer forum but I guess if you stretch it out ...maybe...
Anyway, timeshare resorts bills are paid by the maintenance fees which are paid whether there is anyone there or not. The Marriott in Las Vegas has no restaurants and does fine. The Jockey Club in Vegas has no restaurants and is fully sold out to owners. ( I stay at both...mostly the Marriott) Concept is totally different than hotels that have to rely on people staying there AND ancillary service income.
Appropriate title would have been " How screwed are hotel owners now?"
Worse case for TS owners is that you can't go when you are scheduled....but..you can bank your week for another time in the future. It is not lost and they do not need you to stay there.
(So, I suppose there shouldn't be any hotel forums either on FT?
) Had I wanted to talk about hotels, I would have.
Sold out to owners is all well and good in a world where everyone can afford their maintenance fees and are making their mortgage payments. The top end Marriott and Disney properties, and a few others, should do just fine. Most timeshares aren't in that boat, so to speak. Thousands upon thousands of people, prior to this crisis, are already in default, and even more thousands upon thousands can't even sell their shares for a small fraction of what they paid.
When you own 1/52nd of a property, and say, 35/52nds aren't pulling their weight, and another 35/52nds of the remainder of the units aren't pulling their weight, either, ♫ the sun won't come out ... tomorrow ... bet you're bottom dollar, there ain't sun.♫