About Timeshare
Everybody has heard of the term timeshare but not all have been lucky enough to experience it.
It can be a misunderstood holiday concept. Originally developed in the 1960s as a response to the oil crisis and the need to utilise holiday inventory year-round, timeshare is an innovative way to forward purchase your holidays with the promise of quality accommodation and superb leisure facilities. Today there are 5,400 timeshare resorts in 90 countries and over 6 million families. Satisfaction rates are very high with 87% of owners satisfied with their timeshare*.
Timeshare sits between those who rent holiday accommodation every year and those who buy a holiday property outright. It provides owners with the right to use or occupy a week (or weeks) in an apartment, villa or lodge at their chosen holiday resort every year at the time of year they want to holiday. Owners can pick the accommodation size (from studios to three bedrooms) and the week or holiday season they want. Ownership can be for a set period (e.g. sixty years) or in perpetuity.
Once owners have this right to use the accommodation, they can enjoy it themselves every year, rent it to others or exchange it for another week at a different resort. This service is provided by exchange organisations like RCI and II who act like “holiday banks” where owners deposit what they own and then withdraw accommodation at other timeshare resorts around the world. It is this flexibility and choice that has made timeshare ownership so attractive today.
While timeshare offers great value for money and access for many people to quality holiday accommodation they might not otherwise be able to afford, it should be understood that timeshare is not usually a real estate/property investment. It should be viewed as primarily an investment in holidays now and for the future.
The timeshare product has evolved in many ways. The traditional product where owners purchase a fixed week in a fixed apartment has advanced to floating weeks and floating apartments where owners have access to accommodation in a season and an apartment type. Further changes have resulted in the development of Points systems, fractional resorts and private residence clubs offering the highest levels of luxury.
Today, timeshare can offer a range of options to those looking to buy depending on your holiday requirements and budget. Contact Resort Solutions to find out what they have available at their resorts on 01858 431160
*The Christel DeHaan Tourism and Travel Research Institute based at the Business School in the University of Nottingham 2009.