After all, they own a fractional share of real estate. The real estate still needs servicing (debt service, essential upkeep and maintenance, perhaps service for the few that show up). The ancillary revenue is not happening (i.e., restaurants, bars, empty unit rentals, etc.) If forced to shut, or whatever, they still own a part of the real estate.

I can't see this ending well. The maintenance fees were already skyrocketing in places. Add in the number of owners that won't be able to pay the debt service, let alone the maintenance for the properties. Kind of like a bad HOA situation, except at least you get a residence for 365 or 366 days a year out of that one.

This one hadn't occurred to me until this morning. I can see the poopoodoodookaka really hitting the fan on this one. And for those looking to buy a resale on the cheap (which is the only way to buy one), make sure you know how cheap cheap really is.

Actually, I don't quite agree with the above. Now everyone has rather tricky times, I can't say that the timeshare owners just screwed up so badly. A friend of mine recently showed me an article https://planneratheart.com/interval-international-membership/ in this article the author describes in detail what needs to be done to make timeshare a profitable investment. So I can say that timeshare is quite profitable in the modern world. And I recommend that you study this area in detail and perhaps you'll be interested.