40 Years. That’s what you get in a timeshare in the Bahamas – 40 years with a “right to use”.
And that is a problem that is keeping the major timeshare developers from building more resorts there. According to The Tribune “The Bahamas’ “restrictive” timeshare laws, which demand a 40 year “right to use”, have caused major brands to shy away from the country, the developer of a popular Cable Beach property telling Tribune Business that such companies were more inclined to target jurisdictions where deeds were the norm. ”
Harold Nusbaum, the American Resort Development Association’s (ARDA) president on the subject of timeshare law and development in the Bahamas: “One of the most successful timeshare resorts is in the Bahamas, which is the Atlantis property. It has a timeshare component that is a partnership between Starwood Vacation Ownership and [Brookfield Hospitality]. It’s very successful. There are many successful small developers as well.”
Harborside Atlantis timeshare resort is well known throughout the timeshare world. It also runs television advertising attracting thousands of new visitors each year. That translates into sales. But not for a deed. A deeded timeshare is what US timeshare buyers have become accustomed to purchasing. They buy the rights to a property one week a year. And it is a deeded property.
The Atlantis resort is based on points and or options with Starwood Vacation Ownership. When purchasing a timeshare at the Atlantis you are buying a certain number of option (points) to be used to book your timeshare each year. These options can be used in other ways which increases the flexibility of usage versus a specific week that is a deeded timeshare week. The downside is that in the way owners use their points. Starwood banks on that very thing. Timeshare points owners typically spend these points on other types of vacation travel and need to buy more to get enough to use their timeshare.
That creates a “made ready” upselling market.
If current timeshare law can be modified to allow deeded weeks it is certain that timeshare and fractional developers would quickly take note and start planning and, ultimately, building timeshare resorts in Bahamas.
The Harborside Atlantis Resort is a huge resort with a steady stream of buyers. With that in mind the big players in the timeshare world should take note. Hyatt, Marriott and others would soon be buying land and developing timeshare resorts there.
All the main ingredients are in place for the perfect resort destination. Warm weather, proximity to the US, and a friendly atmosphere. Other outstanding timeshare resorts in the Bahamas include Paradise Island Beach Club, Club Land’Or, and Vacation Club at Bahamia.