Marriott posts $446M 3Q loss on times...

Marriott posts $446M 3Q loss on timeshare charges

There are 2 comments on the Long Beach Press-Telegram story from Oct 8, 2009, titled Marriott posts $446M 3Q loss on timeshare charges. In it, Long Beach Press-Telegram reports that:

Marriott International Inc. lost $466 million in its third quarter on hefty impairment charges from its timeshare business, which has declined drastically in the recession as vacationers cut back spending.

Join the discussion below, or Read more at Long Beach Press-Telegram.

Hardon Hearing

Prairie Du Sac, WI

#1 Oct 8, 2009
Oh darn, they aren't making as much ripping people off selling timeshares anymore. I feel so sorry. NOT. Time shares were the biggest fraud since AIG perpetuated on the American public. I am so happy that the karma train has come into the station for Marriot. I hope Marriot loses their a++ses for years to come.
Robert Madison

Torrance, CA

#2 Feb 27, 2014
Most timeshare companies are taking advantage of people, often those who are more vulnerable and less able to resist hard sales tactics. I have heard of many cases where maintenance costs rise well above inflation. It would appear the timeshare companies lock people into contracts and then drive up their profits though increased maintenance charges. It would be good to see legislation whereby timeshare companies can only charge "reasonable" maintenance costs and not use this annual fee to fleece people's bank accounts

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