Sharing a hotel room with kids isn't much of a vacation for parents. But rather than booking two hotel rooms, you can rent a time-share unit, get more space, and save 20%-60%. Professionally-managed time-share units offer all the perks of a vacation rental -- kitchen, washer/dryer, living room -- minus the uncertainty of renting directly from owners. Too good to be true?
I talked to some industry experts for their tips on how to rent one-bedroom time-share units by the night or week. Read these expert money-saving tips in the December issue of Money magazine or here on CNNMoney.com.
While reporting this piece, I was surprised to learn that time-share resorts have shifted their marketing tactics. Instead of relying on pushy telemarketers promoting vacation deals that are linked to dreaded time-share presentations, more resorts are releasing their unused time-share units as nightly rentals. "Rentals introduce guests to time-shares in a softer way than giving a mini vacation that's tied to a tour," says Howard Nusbaum, president and CEO of the American Resort Development Association (ARDA). "You may receive an incentive to tour, such as $75 off at the spa, but it's voluntary now." In 2010, 10% of all occupied time-share units were renters, compared to the 3% who were marketing guests, according to a study commissioned by the ARDA Foundation. Average rental price? $156 per night.
After speaking to several industry experts, I came away with these three tips:
Know what to look for. Time-share properties affiliated with hotel chains are easy to overlook since they're often advertised as "vacation clubs," not time-shares. Complicating matters, major hotel chains often have a time-share property that's overshadowed by a more well-known sister brand. For example, Scottsdale's Westin Kierland Villas is less than a mile from the Westin Kierland Resort & Spa. Reputable chains with timeshare rentals include Disney, Hilton, Hyatt, Marriott, Starwood, and Wyndham. For luxury brands like Four Seasons, or St. Regis, nightly rentals of villas or condos will be listed as "Residence Club" instead -- these higher-end properties are technically classified as fractional-ownership units, but the regular traveler won't know the difference.
Time-shares are more prevalent than you might think, so don't assume that time-share units won't be available. It may help to know that beach destinations account for 30% of all time-share resort types, golf destinations make up 11%, and ski destinations make up 10%, ARDA reports. Florida leads the way with the most time-share resorts, followed by the mountain region (including Colorado, Utah, Nevada, and Arizona). While Orlando and Las Vegas are among the most well-known time-share destinations, Hilton Head Island, S.C., is often overlooked, says Mark Eble, regional vice president of PKF Consulting. In California, consider Carlsbad (just north of San Diego) and Orange County's San Clemente; on the East Coast, check out Myrtle Beach, says Tom LaTour, chairman and CEO of LaTour Hotels and Resorts management company. Minimum-stay requirements of two or three nights may apply during a property's high season.
Search websites that list time-share rentals across multiple brands. Compare prices on Endless Vacation Rentals (www.evrentals.com), which includes weekly rentals from Disney Vacation Club, Wyndham Vacation Ownership, Holiday Inn Club Vacations, and more time-share brands. For nightly timeshare rentals, try ResorTime.com (www.resortime.com). "These are online agencies that work with the properties, so they have a bigger allotment of inventory than sites that deal with one-to-one rentals," says Peter Gust, vice president of resort operations for Tapestry Resorts timeshare management company.
And as someone who can spend hours online searching for vacation rentals, there is something to be said about knowing that more than one unit will (likely) be available. I've been so disappointed after I found the perfect vacation rental -- and then realized that it was booked solid. At least with professionally-managed time-share units, you know there will be more than one condo or villa that offers what you're looking for.
