The Latest in Timeshare News and Press
Timeshare News
Fitch Ratings: 10 US Timeshare ABS Transactions Receive SMARTView Date
Fitch Ratings has gained tremendous respect in the investor community over the last several years by providing highly analytical assessments of the risks and benefits of companies that investors and creditors may get involved with. In recent news, 10 timeshare related transactions were reviewed by Fitch Ratings and were given a SMARTView date of November [...]
Timeshare Report: Wyndhams Dismal 3rd Quater
As vacationers start spending less during recessions, Wyndham Worldwide (NYSE: WYN) also began spending less money and energy towards improving and sustaining their timeshare business; resulting in a negative report for their third quarter profits.
It was announced earlier this year that Wyndham would begin cutting back their marketing efforts by closing sales offices and spending [...]
Diamond Resorts Increasing Fees Get Timeshare Owners Fired Up
As our country enters a season of financial difficulty, timeshare owners around the world are beginning to reconsider their once affordable timeshares as debt they need to get out of. Last year, the timeshare industry saw its single largest increase in maintenance fees. Over the last several years, many owners have begun to catch on [...]
Timeshare Industry Complaints Reach Record Breaking Numbers in UK
Every year the UK European Consumer Center (similar to US Consumer Protection) releases their findings on product and service complaints. As the 2008 figures were recently released by the ECC, the timeshare industry took the lead and accounted for over 38% of all complaints received. The complaints were comprised of discount holiday clubs, timeshares as [...]
Marriott Announces $760M Write-Down in Timeshare Segment
Marriott International (NYSE: MAR) announced today its plan to take $760 million in pre-tax impairment charges on its timeshare segment this 3rd quarter. Sharp economic downturns have equated to a major reduction in national consumer spending on travel and leisure activities. Marriott noted that what was already a soft demand for its timeshare products in [...]
Scam Alert! The Latest Timeshare Battle
Pending litigation in the UK regarding misleading and deceptive sales tactics leave as many as 2500 people deep in debt with their lending institutions. The situation is further complicated by the liquidation of the shell companies identified as doing business as companies providing free or low-cost holidays which were simply timeshare scams set up to [...]
Marriott’s 2nd Quarter Losses Mirror Difficult Economic Conditions
Marriott International, Inc.’s profits fell 76% in the last quarter. This dismal statistic was caused by less demand for travel and Marriot’s well-intentioned restructuring. Unfortunately, the restructuring failed and Marriott was forced to release a forecast which did not meet up to analysts’ expectations.
As we previously reported in the article “Marriott’s $23mil Loss could Spell [...]
Fitch Review Findings in the $658M Sierra Timeshares Transaction
Apex Professionals LLC is committed to bringing you the latest news in timeshare developments. Last month we posted the news about the Sierra Timeshares 2004-1 $658 million dollar transaction being under review by Fitch Reviews. After the 30-day review period, the results have been announced.
Because of the volatility of the real estate market and [...]
Beating at Las Vegas Timeshare Resort Prompts Wrongful Death Suit
The 2007 beating and subsequent death of Angel Nieva at a Las Vegas, Nevada timeshare resort has prompted his family, including his wife Lydia to file a wrongful death suit against the resort. Lydia was with Angel when they were both savagely beaten and robbed. The suit alleges the business in question failed to take [...]
Wyndham’s $225 Million Dollar Band-Aid
On May 28th, Wyndham Worldwide sold $225 million dollars worth of notes backed by their timeshare assets to Parsippany, a New Jersey based company. Because of the sale, Wyndham stocks gained 26 points, or 2.3 percent, rising to $11.54 a share during afternoon trading on the 29th. The stock plummeted to only $2.55 months ago, [...]
Stay Connected
A Proud Member of
