Timeshares have been so damaged in the public’s mind that now companies that sell timeshares use terms like interval ownership, vacation ownership or the color coded system. Anything but calling it “timeshare.” But a timeshare by any other name is still a timeshare…and it still stinks for your wallet.
The timeshare industry has been a sinking ship and anyone who can jump off is doing just that. Marriott soiled its reputation when it became one of the biggest players in the timeshare business last decade. (They were not the only hotel chain to get in the business.) When the market turned and people saw what a rotten deal timeshares are, Marriott got caught with a huge timeshare operation on its books and was punished by Wall Street.
Now Marriott reached the point where they can’t fight Wall Street anymore and they’re jettisoning their operation by spinning it off into a special tax-free dividend. That will allow the company’s stockholders to separate the timeshare junk and sell it off without selling all their holdings in the company.
Remember this, if you get a pitch for any kind of vacation plan, every warning alarm and bell should go off in your head.
You never want to buy a time share from the original developer. The only way to buy a time share is used from an existing owner. The owner paid the big money to buy it, most of which went to marketing, sales and commissions — not the property itself. If you love timeshares and it works for you in your life, now is the time to buy because people can’t give those things away!