Has timeshare finally got it right?

The most common complaints received by Timeshare Advice Centre are about high pressure sales, spiraling maintenance fees, ineffective holiday systems and being trapped in inescapable contracts. Has Florida based timeshare company MyMVP Club finally got things right?

Besieged industry

"Timeshare owners seem happiest on two specific days," says Suzanne Stojanovic, spokesperson for Timeshare Advice Centre. "The day they sign up, and the day they get out of their ownership."

A quick scroll through online review pages for the world's biggest timeshare companies, such as Marriott Vacation Club and Wyndham Worldwide show a vast majority of shockingly bad reviews. Overwhelmingly both Marriott and Wyndham owners give the giant timeshare providers one star out of a potential five.

The themes are consistent. People feel they were pressured into buying something that they don't really want, including more sales approaches every time they visit their timeshare. They are unhappy with how much their annual fees increase. They are disappointed in how the product performs (in terms of being able to book where and when they were promised.)

A potential solution?

Timeshare contracts, especially in the USA, tie people into remaining timeshare members 'in perpetuity', whether they are happy or not. This effectively means that the businesses have a captive membership base, who are legally obliged to pay whatever fee increases are issued. It also means that there is no market-forces style pressure on timeshare companies to perform well. Their customers can't 'vote with their feet' and take their business elsewhere.

A company in Florida may be about to disrupt the timeshare industry with their novel, simple and many would say long overdue ideas.

MyMVP Club have done away with the forever/in perpetuity contracts in favour of three year increment memberships. There is no cost to relinquish membership. Exit is achieved simply by not renewing.

MVP club CEO Joseph Takacs Jr says: "MyMVP Club is designed so you know what to expect. After spending the last 15 years talking with owners as we helped them through reexamining their timeshare options, we designed a Club based on what they told us they want, like and need."

Expert comment

"This certainly sounds like a welcome innovation," says Andrew Cooper, CEO of European Consumer Claims. "It puts the onus back onto the timeshare company to work to retain their customers. They are motivated to keep annual fee demands competitive, to make sure that their holiday system works, and to minimise intrusive pressure sales during members' holidays.

"If they don't get it right, their customers can leave after three years," adds Cooper. "Regular timeshare companies have no such incentive to impress. In general timeshare companies actually prefer their members to have complaints. It allows their In-House sales team an opportunity to try and 'fix' the issue by pushing yet another expensive membership upgrade."

"It is too early to definitively state that MVP Club have got this right, but we will be watching with interest."

How do I escape my 'forever' timeshare?

If you have a regular, long term timeshare ownership, the first thing you need to do before trying other holiday methods is get free from your current contract. Timeshare companies don't make it easy, because they need your annual fees whether you still want to be a member or not.

Escape is possible with expert help. Under certain conditions mis-sold members can even be due sizable amounts of compensation from their timeshare company, although this is ascertained on a case by case basis.

To discuss your options, get in touch with our team for a free, confidential consultation.