Since 2008 very little expansion has happened with timeshare resorts. In fact, nearly zero. Sales of timeshare had dropped in a dramatic fashion and the “paper” associated with timeshare financing became a hard thing to sell. So timeshare development and construction came to a halt.
In 2014 several major players restarted or started construction projects for timeshares in Las Vegas. Hilton, Marriott, Westgate, and Wyndham have jump started projects and are building again.
■ Construction of a new tower at Grandview at Las Vegas, near South Point, taking it from 1,556 units to 1,856, according to the LVCVA survey. Completion is projected for early next year;
■ The Hilton Grand Vacations unit of Hilton Hotels & Resorts purchased 300 units at the Trump International Hotel to add to its luxury timeshare portfolio;
■ Marriott Vacations Worldwide last month topped the third 37-floor tower of its off-Strip Grand Chateau. This will add 223 units to the property;
■ Construction has resumed on the Desert Blue timeshare, planned at 281 units, after a four-year hiatus. Wyndham Worldwide sold the project to another developer in June for $117 million, including only $3 million for the unfinished building itself and $114 million of the timeshare units available to sell. As part of the transaction, Wyndham has committed to repurchasing the project for $309 million at an unspecified date unless a different buyer steps in, according to Wyndham regulatory filings.”
There are additional reports that Westgate Flamingo Bay had the best sales year ever in 2014. Hilton Grand Vacations, Marriott, Wyndham, and Westgate have all reported that timeshare resales in 2014 were far better than the previous 4 years and the growth is already being seen in 2015.
Now lets translate that into something a timeshare owner could put to good use. With the renewed timeshare sales and tours at timeshare resorts comes huge numbers of potential timeshare buyers. Yet these buyers are reluctant to buy their timeshare from the resort itself.
Why? Maybe they had a bad experience with the first timeshare they bought. Or maybe they just don’t want to pay the going retail price. Either way they are wanting to buy timeshares in greater numbers and if you are ready to sell your timeshare this could be the time to sell your timeshare. There is no better time to sell your timeshare than when the demand is high. Evidence of the high demand is seen in the renewed construction and development activities by the resorts. They would never take that kind of risk if they were not confident there was a market for their product.
If there is a market for the new sales of timeshares, there is an even greater market for timeshare resales. People are always looking for ways to save money on big purchases. Buying a timeshare on the resale market is a way to do just that.
Sales of timeshares are hot and getting hotter! Now is the time to sell your timeshare.