Timeshare Travel Chinese Style

To have one's own villa on some picturesque beach, from which one can enjoy the scenic coastline and hear the rolling waves? Many people may have such dreams, but most are held back by the exorbitant costs. Yesterday, the world's largest timeshare travel company came to Shanghai for the very first time to help the Shanghainese realise their dreams with the whole new concept of timeshare travel.

Timeshare travel is quite simply a one-time payment at prices lower than normal discounts for the right to use a property for one week each year for a total of 10 years (or 20 or 30 years). By becoming a member of this international network of travellers, one could opt to exchange timeshares with members owning other properties, and in so doing, travel to a different place each time. Particularly tempting is the idea that travel around the world no longer needs to be exorbitant. Timeshare owners can make use of their right to use their properties at the price they paid regardless of how hotel room rates may fluctuate. Therefore, with all other factors constant, timeshare travel expenses may come up to just half of traditional accommodation options, or even less. Even more enticing is the ability to swap travel destinations. As long as your visa application is approved, you can travel anywhere within the network without having to pay additional accommodation fees.

An RCI spokesperson pointed out that living standards in Shanghai are now the highest in China. The sophisticated hotel industry and the appearance of certain serviced apartments have prepared the way for the introduction of timeshare travel in the market. In the meanwhile, China now has about 115 holidays and demand for travel is on the rise. It is estimated that a timeshare travel network of a million members can contribute between RMB 5 billion and RMB 7 billion to the domestic economy, build between 3 and 5 million square metres of real estate, and create up to 20,000 jobs.


Nevertheless a spokesperson from the Shanghai Municipal Tourism Administrative Commission said that for RCI to be really rooted in Shanghai, it would have to overcome several obstacles. First, the reliability. When travellers buy hotel timeshares, they have to make a judgement on how reliable the property is, whether it would close down anytime, or even pretend to close down. With a spate of timeshare-related complaints that have surfaced all over China, cautious Shanghainese may adopt a wait-and-see approach. On the other hand, the hotel industry in Shanghai is booming, and the hotel occupancy rate for all the five-star hotels in November was almost 100%, and so it remains uncertain how many additional rooms would be enough for the city

Additional Timeshare Scams

The Overpayment Scam
The essence of this scam is that a purported renter or buyer sends you a cashier's check for more than you agreed on and has you wire the difference back. Some time later, however, the bank discovers the check was counterfeit and holds you responsible for the entire amount.

U.S. Postal Service tips:

Be skeptical of anyone asking you to wire money to overseas bank accounts, or to cash money orders or checks, on their behalf.
Know who you're dealing with—never give out personal or financial information to anyone you don't know.
Familiarize yourself with postal money order security features.
Never accept money orders or checks for more than the selling price.
Never agree to wire funds to a buyer—legitimate buyers won't pressure you to do so, and you have limited recourse if there's a problem.
Never wire funds to anyone unless you're sure the money order or check they gave you was cleared by your bank and the funds released

Common Timeshare Scams

There are many different versions of timeshare scams that have been robbing innocent and trusting owners of their hard-earned money. The best way to protect yourself is to be educated about these fraudulent practices so you know when things aren't legit. One of the oldest scams in the resale business is making a return. Essentially, the owner receives a "cold call" from "Jim" who states that he has a buyer for the owner's timeshare at a slightly lower amount than the asking price. The owner agrees to sell through Jim. A few days later Jim calls saying a fee is due to cover "advertising" costs, and that "state regulations" require that the owner record a statement saying that the money to be paid is for advertising only. Months of ensuing excuses by Jim about why the sale isn't finalized result in the owner being told there is no buyer, a reminder that the money paid was for "advertising", and a quick exit by Jim

Tips for Renting Floating Weeks

For the most part, timeshare weeks come in two different types: fixed and floating. With a fixed week, the owner will have the same week each year (i.e. week 52 or week 35). Alternatively, the owner of a floating week may choose a week within a given season, dependent upon availability at the resort.

When renting a floating week, be sure to contact the owner to determine if there are any date restrictions (i.e. holiday weeks). Next, keep in mind that just because your desired week falls within the timeframe listed, it does not necessarily mean that the unit will be available. Ask the owner to contact the resort to verify that your preferred week is still available. Weeks fill up early, so it is best to attempt to book as far in advance as possible.

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