Will Coronavirus Knock Timeshares Out For Good?
COVID-19, Timeshare Agreements
3 min read
The facts are that every time we set expectations in 2020 and plan things, they tend not to work out. Covid-19 or the coronavirus pandemic has certainly thrown things for a loop and that especially holds true for the remainder of 2020 and the travel industry. Travel has been higher than most of us expect during the summer, but it was also down over 70% in most industries. Many theme parks and other attractions did not open until late summer or early fall as they wanted to avoid the issue of having to shutdown again. The smart thing, as many companies and governments are now learning, is to hold off the reopening until you can ensure that precautions are taken and then do so at a lower but steady capacity.
This may not lead to record numbers in visitors, but it keeps the pandemic in check and allows businesses to reopen and start generating revenue again. Regardless of your stance on the virus and how it’s been handled, few can deny the benefits of wearing masks, practicing social distancing, washing your hands and making sure that you’re checking for symptoms frequently. It’s interesting to hear both sides debate the needed severity of caution and the fact is that now we are learning more and more about how the virus spreads. If you can go through a grocery store crowded with people and be safe, then certainly you can go on a plane, rent a hotel room or car and visit a theme park and remain safe as long as you follow the guidelines recommended by the government and medical professionals. Please note, we are not medical experts and are in no way saying you can do these things and will be 100% safe.
This upward trend in travel and downward trend in new cases has led to renewed optimism that travel will be back up by the end of the year. The risks are well understood and documented but the fact remains, people have to live their lives and for many, that involves traveling alone or with family. Whether it’s cruises, flights, renting cars or staying in hotels, the numbers will begin to move up by the end of the year, but they will not be overwhelming as people still practice caution.
The industry most interesting to watch are cruises. They will have the hardest time regulating guests and scheduling events as they will be sending their guests to other countries where it’s impossible to know whether or not they, the guests, are following proper guidelines as well.
Airlines will see a boost alone with major holidays and the entire industry will get a solid jolt as people who are willing to take the risk and decide to take advantage of heavily discounted prices. While we cannot predict what will come from this increase in travel, it’s safe to safe that traveling will see a jolt by the end of the year. The real question is whether or not it will cause a jolt in the coronavirus numbers and we begin 2021 much the way we’ve spent most of 2020, not sure why we keep seeing these problems and having to second guess decisions and face new shutdowns.
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