Financing for Timeshares is Improving
Wednesday, July 8th, 2009There are reports of more financing deals in the timeshare industry, which is a true sign that the banks and credit markets are thawing from the cash-strapped timeshare industry. According to recent reports in the Orlando Sentinel newspaper, Starwood Resorts has completed a private placement of $125 million in timeshare backed notes. Wyndham Worldwide, the largest company in the timeshare industry, recently announced a $225 million sale of timeshare notes. Marriott International has also recently been able to sell approximately $250 million in timeshare notes. Timeshare companies have struggled with tight credit markets since last autumn when demand for consumer-backed securities dried up.
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