Timeshare companies continue to suffer from the ill effects of the financial crisis. Most companies have clients seeking for timeshare relief. Other companies ended up having to close down because of financial breakdown. But other companies were able to open up timeshare units like the Disney Vacation Club.
The Disney Vacation Club opened up its first West Coast timeshares in September at the Grand Californian Hotel. However, the financial report of the Vacation Club was still slumped down by the financial crisis.
The Citigroup’s decision to stop buying mortgages since December last year closed down the mortgages of the Vacation Club to only $17 million up to October 3. It is 88 percent down from last year’s $174 million mortgages. The securitization affords the Vacation Club a boost in their profit and without is, much is lessened to Disney’s timeshare division. It also affects the overall profit of the whole Walt Disney company because 20 percent of its profit comes from its timeshare division.
This decrease in their profit may be a bad news for the entire group but because of Disney’s financial strength, it can neglect this negative effect. However, for timeshare owners who are having difficulties with their timeshares cannot just set aside the financial burden they have because of their timeshares. Getting rid of the timeshares is the best option that they can find to have more financial freedom. They are not able to enjoy their timeshares because of the amount of money their timeshares require of them.
The Disney Vacation Club opened up its first West Coast timeshares in September at the Grand Californian Hotel. However, the financial report of the Vacation Club was still slumped down by the financial crisis.
The Citigroup’s decision to stop buying mortgages since December last year closed down the mortgages of the Vacation Club to only $17 million up to October 3. It is 88 percent down from last year’s $174 million mortgages. The securitization affords the Vacation Club a boost in their profit and without is, much is lessened to Disney’s timeshare division. It also affects the overall profit of the whole Walt Disney company because 20 percent of its profit comes from its timeshare division.
This decrease in their profit may be a bad news for the entire group but because of Disney’s financial strength, it can neglect this negative effect. However, for timeshare owners who are having difficulties with their timeshares cannot just set aside the financial burden they have because of their timeshares. Getting rid of the timeshares is the best option that they can find to have more financial freedom. They are not able to enjoy their timeshares because of the amount of money their timeshares require of them.
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