Sunday, January 18, 2009

Hyatt Time Share Sales

It took a while for the shoe to drop at Hyatt's time-share sales operation, but it finally happened.  I thought it was a fait accompli last September.

There's a vehicle parked on Duval Street plastered with posters advertising Hyatt time share resales at 50% to 75% off.  Time shares have to go through a foreclosure process just like regular real estate, so these may be in that category.

I'd guess that at some point, foreclosures could begin to weigh heavily on the management company that has to maintain the property whether its fully rented or not.  The effect would be the same as living in a house that is surrounded by a bunch of foreclosed homes.

There goes the neighborhood.

1 comment:

Timeshare Relief said...

There's actually another issue for timeshare owners...the foreclosure is the result of not paying the loan for the timeshare. But maintenance fees are usually guaranteed by the contract. The owner may be liable for these fees and cannot simply walk away with "just" a foreclosure. Owners need to read their contracts and consult a lawyer.

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