Howard Nusbaum serves as president and chief executive officer of the American Resort Development Association, (ARDA). It’s an industry trade group that serves the hospitality industry, including timeshare developers. While building an industry that generates more than $8 billion in revenues (and growing), timeshare developers rely upon ARDA to control the messaging and to influence legislation that serves their interest.
At Timeshare Compliance, we’re on the other side of the spectrum. Rather than striving to bring more profits to timeshare developers, we serve as an advocacy group. We focus exclusively on helping people who purchased timeshares under false pretenses.
Timeshares provide a steady stream of profits for the timeshare industry. With ARDA’s help, laws make it possible for developers to sell each timeshare unit 50 times during a given year. ARDA indicates that the average timeshare costs about $20,000.
If we used that “average” number, we can see why timeshare is so profitable for the industry. A single condominium would generate revenues through 50 (timeshare units) sales at $20,000 each brings revenues of $1,000,000 for an average timeshare condominium.
In addition to those total revenues from sales, the unit would generate maintenance fees that average $800 per year. That amounts to an additional $40,000 in annual fees.
Multiply those numbers by hundreds of timeshare units at a given resort and it’s easy to see why developers love the timeshare industry.
Our team at Timeshare Compliance, on the other hand, sees the flipside. Our team listens to elderly people who tell us stories about misrepresentations and high-pressure sales tactics. Our customers describe how they felt preyed upon. First they were lured into presentations by overzealous timeshare sales reps that manipulated our clients into signing contracts that they did not understand. Customers talk about how they want to cancel timeshare contracts because the developer did not deliver what the timeshare sales rep promised during the presentation.
If you want to cancel a timeshare contract, call us for a free consultation. We’ll listen to your story. Although you signed a contract, opportunities may exist for you to cancel the obligation.