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Right now hundreds of Marriott timeshare owners in Colorado are suing the company, claiming Marriott is to blame for a huge drop in the value of their timeshares.
A federal judge has partly granted a sanctions motion requested by timeshare owners against Marriott Vacations. The accusation is that Marriott failed to present important information, and caused timeshare properties to “plummet” in value.
Timeshares seem like incredibly risky business. There are so many ways to lose money. That said, many of the timeshare presentations offer free hotel stays, meals, and paraphernalia. So they can be an easy way to enhance a vacation for the strong-willed.
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Marriott Timeshare Lawsuit
Marriott has been found committing a “discovery violation” toward 200+ timeshare owners.
This ruling comes from a request back in April asking the court to sanction Marriott Vacations for concealing its affiliation agreement with a condominium association. The owners say the value of their timeshares have dropped between 80 and 90 percent because Marriott set up an affiliation agreement with Ritz-Carlton Destination Club and Aspen Highlands Condominium Association Inc. without approval from most of the owners, as they promised to do.
The judge did not perceive Marriott to be disingenuous, and instead just careless.
I’ve never dipped my finger into timeshares, but I see how they could potentially save folks money if there’s an area you find yourself returning to religiously year after year. But unless that’s an absolute certainty, it’s got to be a huge no-no. I’ve heard horror stories of folks who think they can successfully market their timeshare when they decide to spend their vacation days another way. But that leaves a frightening lot up to chance (like the above suit!).
Miles & points are more valuable and flexible than dropping anchor in the same vacation spot for 5 years. You can use Marriott points for stays in Marriott timeshares, after all. And there are lots of ways to earn Marriott points.
I’d love to hear a contrary opinion from anyone with a timeshare!
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Hat tip: Law360