A Peek at Hotel Timesharing Ownership

We received a couple promotion packages to enjoy a 6 days 5 nights stay, with 90% off the cost, at some exclusive residence clubs, including IHG, Westin and Hyatt. We unsurprisingly tried all of them! Want to share some experience and learning here.

TL;DR: say NO at any sales presentation from developers (hotels).

TL;DR 2: if you have bought it at sales pitch, rescind NOW! You have 5–15 days (not much) to rescind.

TL;DR 3: if you are interested in the time sharing ownership, which is actually a pretty cool idea, you could buy one from a resale market.

I am SPG member, IHG member and Hyatt member thanks to Chase credit cards offers (which all offer free nights now) and I hold no doubt that all my credit and bank information were sold “for marketing and sales purposes”; we also normally stay in those hotels while traveling, either business or personal leisure, thus their marketing teams have every right to put us on their hunting list. ;)

The offers from those Residency Clubs are Irresistible: $1200 for a 6 days 5 nights 2 bedroom 2 bathroom stay, in an exclusive beach resort like Ka’anapali. A stay normally costs $1200 for a 2br here.

The experience of staying is extraordinary for family vacations, especially if you travel with your kids or parents:

ALL of these are contingent on you attending a sales presentation from them, it ranges from 90 minutes to 180 minutes, there is no free food. You should expect that:

The sales presentations are high pressure nightmares.

Believe it or not, we experienced it three times.. in order:

Westin at Palm Spring

We didn’t even know what is time sharing before we made a purchase with finance. The sales person literally spent little effort to convince us. We actually felt fantastic after going back to hotel: “We own an investment property now! We bought a gift for our family!”, till we did some online research and found tug2.com. I was shocked by our genuine human stupidity. Good news is: it is not too hard to rescind.

Even though we were fooled once, the experience was not bad. We thought time sharing is actually a pretty good idea, so when the IHG and Hyatt offers arrived (almost same time), we accepted again to have another budget stay and learn a bit more on this business. We could rescind anyway.

IHG at Smoky Mountain

Hyatt at Ka’anapali

Why do they sell so hard?! Isn’t this a good idea?

The idea is good but the price is like a fraud. You only need a fraction of the initial downpayment at a resale market. They only tell you what is your current traveling cost and what is their offering, but there is no horizontal or apple to apple comparison.

Tell me what is a fair market price!

The fair market price for a one week stay in an Ocean View 2 Br Ba in Maui Ka’anapali, at Westin, Hyatt or equivalent levels, is roughly $17K. If you purchase at sales presentations, it will be more than $60K. The annual maintenance fee is around $2500.

I reckon the time sharing business is actually a pretty good idea for family vacations. We did more and more research and found quite some good resources discussing this:

If you are interested in time sharing as well, or have experienced similar, feel free to comment below!

hacker, lifetime learner