With the spread of COVID-19 all over the world, travel plans have been put on hold for many people. By now, most travelers have gone through the complex process of conducting tests, spending time in quarantine before and after taking the journey through an airline or cruise, and the other procedures that are taken into consideration because of Covid-19.
With other changes around traveling, there are considerable changes in hotels, resorts, and timeshare platforms. The timeshare owners have been dealing with serious issues and looking for ways to exit. Why? We are going to discuss that in detail down below:
Let’s say you have ownership of Marriott Timeshare and due to Covid-19, you are just stuck with the payments. You have bookings but you can’t actually use that ownership because of lockdowns and other restrictions. After more than a year, it is understandable that you are looking for ways how to cancel a Marriott timeshare contract.
Why are People Considering Timeshare Contract Elimination?
Vacation homes and their owners are a big industry. The resort companies have made billions of dollars from it but due to Covid-19, the traveling industry has suffered a lot. In the same way, the timeshare owners are also suffering.
Back in the day, you could buy the share of a property with the simple procedure within a week or so. But now things have changed. It takes months to own the timeshare opportunity and when you finally get the chance, you pay thousands of dollars to keep it. Even there are rules in place now that offer fixed prices and points to all new partners.
These annual points allow the new timeshare owners to book any property available within their rank for vacation. The property could be anywhere in the world, but it has to be owned by your timeshare company. Before the pandemic, everyone was supposed to go on their vacation that they have planned and paid for.
Instead of going on vacation, people ended up in homes and still paying for the timeshare. Covid-19 didn’t allow people to fly for their vacation. There are plenty of areas where lockdown is still maintained. There is no way people can go on their vacation because it is not safe.
People have postponed their vacations for now. Ideally, people should be compensated for their annual maintenance fee and valued for their continued contribution, but it is reversed. People have to pay for their timeshare contract even when they are not utilizing it.
Timeshare Cancellation Process
In light of recent socioeconomic factors, so many people have canceled their timeshare contracts. But apparently, this is just the tip of the iceberg. It is not easy to just cancel it, it is not your Netflix subscription. Things are more complex than they seem in a timeshare.
If you own points for your timeshare, there are exchange companies to deal with. Different timeshare companies have declared new policies. Here we will be looking at the Marriott Vacation Club timeshare and its policies during COVID-19.
Marriott Vacation Club’s COVID-19 Policies
According to data given, there are more than 660,000 families that have ownership with Marriott. It is a huge thing and if you want to cancel your arrangement, it is going to affect a lot of people.
There are procedures in place to manage thousands of people who have already reserved their spot for months. They will be affected by the cancellation. Obviously, the management spends money to keep the rooms ready for their guests but if they don’t show up or cancel their bookings they will have to suffer big losses.
Imagine how this pandemic had affected the club as the club has no business at all. No one is coming at their scheduled time and if some people had come, they came for their work. It is alarming that properties that usually had occupancy rates of 91–92% typically are empty.
How to cancel your Marriott Vacation Club booking?
Now if you are someone that has a reservation within the Marriott Vacation Club anywhere and wants to cancel it, you can cancel it. But before you terminate your contract, you need to check how you booked the spot.
You can check when your scheduled arrival date is and if there is an option for changing it. According to a Marriott Vacations Worldwide spokesperson, you have until Dec. 31, 2021, to come and use their delayed reservation if they are affected by Covid-19. But the people should arrive within 120 days of their booking otherwise their bookings will be canceled.
They also stated that if somebody had been affected and needed to cancel then they would be refunded their fees. For further details, you can check their website and follow the guidelines with your issues.
If you have booked vacations through a third party, your points will be exchanged with some other company that can offer you some sort of compensation for your timeshare points.
What Options Do You Have?
Although it is a difficult decision to exit the Marriott timeshare contract if your financials don’t allow it, you can sell your timeshare contract to somebody else.
You can call the Marriott Vacation Club and tell them about your situation, and they can take back your timeshare contract and you can terminate the membership. They provide relief programs for their members.
Even if you feel like your timeshare contract for Marriott is legally closed and doesn’t have to offer any exit, don’t stress out, hire a timeshare legal company and ask for a solution. They will dig up some sort of solution for you.
With the current situation, the timeshare industry is also under pressure. They will be baiting people with misrepresentation and catchy offers, but we suggest people think before they react.
You wouldn’t want to spend your savings on something that is not working at this particular moment. And if you own a timeshare contract, it is wise to find an exit that doesn’t give you monetary loss.