2020 has thrown the world into chaos, financial markets have crashed, millions have lost their jobs, cities and countries have been locked down and travel bans have been enforced. For most, the focus has been on staying safe and ensuring where possible they can maintain financial security with holidays being the last thing on their mind!
Many of those who had holidays booked in 2020 have had them cancelled with hotels and flights refunded. Many timeshare owners were not so lucky being told that their 2020 maintenance fees that they paid in advance would not be refunded!
For a short window, the UK opened up an air bridge to Spain, and some plucky holidaymakers took the gamble to take advantage of cut-price holidays. This, however, did not last long with tens of thousands then being told they would be forced to quarantine on their return back to the UK. The knock-on effect causing chaos for those needing to return to work.
In hindsight, many will have wished they had never left the UK. Having had to endure the onerous experience of hours travelling through airports and on flights sporting a facemask, then for those travelling to Spain to find out that the other end facemasks would be mandatory to be worn everywhere at all times! Not exactly the holiday experience many would have hoped for or expected!
The impact of COVID-19 has been profound and will cause insecurity and instability for years to come. Travel is one of the major industries that will be affected for the foreseeable future with countries fearing further damage to their country and economy as a result of travellers importing the deadly virus.
Nobody likes the thought of making sacrifices and especially not foregoing the opportunity to enjoy a holiday break away, however, these are unusual times and the new normal as the media call it and time for a REALITY CHECK.
- Will many holidaymakers want to endure chaotic and uncomfortable travel conditions? NO
- Will many take the risk of being required to quarantine when re-entering the UK? NO
- When will travel return to normal? WHO KNOWS
- Will most timeshare owners lose their 2020 occupancy? YES
- Have most timeshare owners been refunded 2020 maintenance fees? NO
- Will timeshare resorts bill for next year’s maintenance fees?
MOST CERTAINLY YES
- Will travel return to normal next year? MOST LIKELY NOT
- Even if it did, will timeshare resorts be able to fulfil bookings for those 2020 lost holidays in 2021? MOST CERTAINLY NOT
- Will hotel prices drop for next year and present great value for those that take the opportunity to travel? MOST CERTAINLY YES
- Does it make sense to own a timeshare at a time like this which such uncertainty and the requirement to pay mandatory, non-refundable maintenance fees whether you get to use the timeshare or not?
THE ABOVE ARTICLE DOES RAISE A LOT OF QUESTIONS ABOUT WHAT TO DO WITH YOUR TIMESHARE. IF YOU HAVE ANY QUESTIONS PLEASE DON’T HESITATE TO CONTACT US ON OUR FRIENDLY LIVE CHAT OR EMAIL US AT INFO@TIMESHARE.LAWYER