Column urging industry reform was misguided
A lot can be said about the timeshare industry. What started more than 60 years ago as a way for families to share the costs of annual vacations has blossomed into a key component of the travel industry, offering nearly 10 million travelers the opportunity to explore the world year after year.
To put this in perspective, five of the largest vacation ownership companies are globally headquartered in Orlando. In fact, according to a recent study conducted by Ernst and Young for the American Resort Development Association (ARDA) International Foundation, Central Florida’s timeshare industry accounts for more than 45,000 jobs and more than $500 million in state and local tax revenue.
Unfortunately, the industry, like many others, has seen its fair share of players over the years that have tried to take advantage of timeshare owners by making promises, many of which were arguably false. An opinion editorial printed in the Orlando Sentinel on Sept. 30, titled “Timeshare industry in need of reform,” may have been the boldest statement by one such player in recent memory.
The opinion goes into great detail, attempting to show the need for reform in Florida’s timeshare industry. What it fails to point out is that the timeshare industry has been heavily regulated in Florida for almost 40 years — and that the one cottage industry that is truly in need of regulation is the “exit company industry.” The guest commentator, in this instance, misled the readership of the Sentinel by calling himself a “consumer rights advocate” while failing to mention that he is the owner of one of the largest timeshare exit companies around, the Timeshare Exit Team, profiting handsomely off the consumers for which he claims to advocate. While he would like to focus on trying to stir up outrage aimed at an industry that has been part of the fabric of the tourism industry in Florida and beyond, one has to ask what exactly does his company — one that is not based in Florida — do to help a timeshare owner?
The timeshare industry understands life circumstances can change after making a purchase and there are programs in place to assist those customers who wish to conclude their membership by working directly with their homeowners association or developer. We also pride ourselves on providing timeshare owners with the information and tools they need to make a clear and informed decision on the options available to them through ResponsibleExit.com. If a Florida consumer decides not to reach out to the company they own a timeshare with, and instead opts to engage a third-party exit company, we strongly believe the consumer must be presented with the proper disclosures about exitcompany services and that their money must be protected in case the exit-company is unable to perform the services it offers, especially if those companies offer any type of money-back guarantee.
On behalf of Florida’s consumers, we will stand up to unscrupulous third parties who try to interfere with timeshare owners’ stories, legacies and the travel advantages they are enjoying. Only time will tell what the future holds for the so-called exit industry — it has preyed upon timeshare owners for more than a decade during which time the Florida Legislature, not once, but twice, has taken action to work to reform. Until then, we stand with our members, and the vacation clubs they belong to, and will continue to confront all bad actors who try to take advantage of timeshare owners.