The cost of annual holidays seems to be one of the few industries that fluctuates hugely, whether you are looking for a budget break, or a glamorous retreat. Either way, a holiday is generally perceived as a luxury which seems to buck the financial trends. During a downturn tour operators look to fill empty hotels and flights, while in reverse the costs can skyrocket during a boom year.
Over the last few years with the rise of Air B&B, Private villa rentals direct from owners, and the many booking comparison sites, we have seen a huge increase in the diversity of accommodation on offer, and cutting out the middle man can save a pretty penny.
Our thought of the day is how will the Timeshare industry stay competitive? Not just financially, but on the type of accommodation on offer.
Looking back to the early years of Timeshare, you could almost guarantee that the resort itself would beat your standard package holiday hands down. Instead of a small hotel room with a kettle and a milk sachet, purpose built resorts were offering a full apartment, with everything you could need for a home from home experience, making the cost justifiable.
So just how do the costs compare today?
You can now rent a two bed apartment in coastal Spain, to a similar quality level of a timeshare, for an average of 700€ a week in peak season.
With your timeshare, excluding the initial buying costs you will still have to pay a resort maintenance fee, excahnge company annual membership fee, week banking fee, week exchange fee.
In the end this can average at just over 1000€ per week.
Our solution? If you are stuck with fees that make your ownership an expensive option, for a holiday with less flexibility.
Go the smart way and reclaim your investment with TRC.!