Thursday, July 29, 2010

"Not Sure"

I've been spending some time going through the latest AIF Owners Report. Lots and lots of data, some good, some not so good for timeshare developers.

However, one piece of data caught my eye and totally blew me away. The question was "Which of the following best describes your understanding of the type of interest you obtained with this timeshare?' Respondents had to choose between "right to use", "deeded or fee simple", "interest in a trust', "other" and "not sure/don't know."

I was expecting a very low percentage of respondents to say "not sure/don't know." Would you believe 17% of week based timeshare owners and 21% of point based timeshare owners weren't sure of what they owned? On average that's 19% or almost a full 1 our of 5 owners weren't sure what type of ownership they had.

As you know, I usually blast the timeshare industry for not properly educating owners and prospective owners. For this, I have to place the blame FULLY on the owner. Why oh why, would anyone pay an average price of $20,000 for a timeshare and NOT understand what type of ownership they have?

Not sure indeed.

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