A ray of hope for timeshares
For over six months, time-shares have experience a reduction of growth due to the declining economy. Converting some of their mortgages into cash, the capitals biggest time share industry is seeing some rays of hope.
This is an encouraging sign for an industry that generates 10% of this nations time share. One quarter billion of time share was sold by giant Marriot International and $46 million by Wyndham Worldwide. During the fall, Marriot time share had difficulty closing deals 6 months ago.
Typically, time share companies lend their customer money and then sell the asset-backed security for cash in order to build new units.
This is an encouraging sign for an industry that generates 10% of this nations time share. One quarter billion of time share was sold by giant Marriot International and $46 million by Wyndham Worldwide. During the fall, Marriot time share had difficulty closing deals 6 months ago.
Typically, time share companies lend their customer money and then sell the asset-backed security for cash in order to build new units.
posted by michael at
10:22 AM
