Aloha Kakou:

This article, from Hotels Magazine, explains how tight credit is affecting vacation ownership. While timeshare companies are still offering some in-house financing to consumers, of course the larger problem is the absence of funds needed to start or complete large construction projects.

Interestingly, it seems a sort of downward credit creep is now the norm: there is still interest in timeshare and fractional ownership but the people buying these types of properties are trading down. People who are interested in whole ownership but are unable to obtain financing are now looking at fractional ownership and those who were considering fractional ownership are now considering timeshares.

http://www.hotelsmag.com/article/CA6634029.html?nid=4334?nid=3457&rid=1080448300