Wyndham Destinations has announce it has sold its vacation rental business in a deal which nets the company $162 million.
Wyndham Destinations, which is based in Orlando Florida, has sold this part of the business to Vacasa who will now own its inventory of 9,000 condos, houses and villas. Vacasa is one of the largest vacation management companies in the US. With this purchase the vacation management platform will now have 23,000 homes available worldwide.
The 9,000 properties are based all over the United States, with properties in California, Colorado, Delaware, Florida, Utah, Tennessee, The Carolinas, Nevada, Idaho and Georgia.
According to Wyndham, the sale of the vacation rental homes, means the company will now focus solely on its timeshare programs alone and all revenues will now be invested back into this side of the business.
Wyndham Vacation Ownership, renamed Wyndham Destinations, is the largest vacation ownership program in the world. It includes a network of 213 properties, 25,000 individual timeshare units and over 925,000 members. They have properties in over 100 locations worldwide and operate an affiliation program with RCI.
People who enter into Timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the Timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of Timeshare owners and offer fake products, along with timeshare exit schemes. Before agreeing to any Timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a Timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these type of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a Timeshare or a ‘Holiday Points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible timeshare termination.