03 Jun What to know before attending a timeshare presentation
Is a timeshare presentation worth your time?
Are you willing to attend a two-hour presentation promoting timeshare ownership in exchange for a three-night stay at a luxury hotel in Orlando and 15,000 Hilton Honors points for just $199? How about receiving a complimentary dinner or spa voucher at a prestigious Marriott hotel in Dubai? Would you consider enduring a lengthy sales pitch for the opportunity to enjoy three nights in Tahoe and receive 10,000 IHG points for $249? Many timeshare companies entice potential customers with attractive incentives to persuade them to invest in a timeshare, offering everything from free parking to complimentary hotel nights to heavily discounted accommodation – all contingent upon attending a sales presentation lasting 90 minutes or more.
If you are contemplating attending a timeshare sales presentation, it is important to be well-informed about the offer being presented and carefully consider your decision.
How Timeshares Work
A timeshare is a form of shared ownership of a holiday property, typically located in a sought-after travel destination or resort. It involves a long-term commitment, although there is the option to sell it at a later date. By purchasing a timeshare, you essentially gain the privilege of staying at the property for a specific period each year.
Major hotel brands like Wyndham, Hilton, Marriott, and IHG offer timeshares as well. Determining whether a timeshare is a worthwhile investment is a separate question from evaluating a specific timeshare presentation offer. Timeshares are often marketed as a way to save money on future vacations. Depending on your budget and travel patterns, there are advantages and disadvantages of owning a timeshare.
Learn from the Timeshare Advocacy experts
The timeshare sector is vast, with an estimated worth of $10.5 billion as reported by the American Resort Development Association. However, purchasing a timeshare comes with the commitment of paying maintenance fees that typically range between $1,500 and $2,500. It is crucial to understand that acquiring a timeshare is not akin to investing in real estate, as emphasized by Rich Folk, a former executive in the timeshare industry who currently heads Timeshare Compliance, a company specializing in timeshare exits. NBC News 10 interviewed Rich Folk to get his take on the timeshare industry and what a consumer should know before attending a timeshare presentation.
