Timeshare History - Buy, sell, or Rent

Before we discuss the history of the timeshare and how timeshares evolved, I think its important to give a brief explanation of what a timeshare is. A timeshare is a form of vacation property ownership. The owners of the timeshare, share in the use and the costs of running the resort. The use of the timeshare is usually divided up among the owners over a specified period of time. There are many types of timeshare, but the most common form of timeshares are condominiums or cooperatives at vacation resorts.

The timeshare first originated in Europe in the 1960's. The popularity of commercial jets as well as the 60's carefree attitude helped revolutionize the travel industry. A French development company, The Societe des Grands Travaux de Marseille recognized the considerable growth in the travel and tourism industry and are one of two companies that began to offer the timeshare model. They are credited with developing the first ever timeshare slogan; "No need to rent the room; buy the hotel, its cheaper!" Like that, the timeshare was born. The first resort to adapt the timeshare was a ski resort in the French Alps called SuperDevoluy. At the same time, another company called Hapimag in Baar Switzerland also offered the timeshare model. The owners of Hapimag began purchasing resort properties in Italy, Spain, and Switzerland giving their members a choice of timeshare destinations.

The first timeshare in the United States started on the island of Kauai in 1969 by two men who later started Vacation Internationale. Those interested in the timeshare program were offered weeks that were sold on a leasehold basis. They also were the first to offer timeshares sold on a point system to give more options to timeshare owners. The first state in the continental U.S to offer timeshares was Florida. During the 1970's, many existing condo developments in Florida migrated towards the timeshare resorts model. In 1973, a joint effort by the Hyatt company and Innisfree companies offered the first "deeded ownership" timeshares. Shortly thereafter, Resort Condominiums International (RCI) debuted in 1974. RCI provided timeshare owners with the flexibility to exchange weeks between different timeshare resorts. This was a very attractive option to timeshare owners, one which they did not have before. To this day, RCI is one of the largest timeshare exchange companies in this world.

During the end of the 70's and into the early 80's the timeshare industry continued to grow. Driven by the popularity of timeshares, resorts all over the world were converting over to them. The timeshare appealed to people of all classes and backgrounds. The high class individual used the timeshare to travel to exotic resorts and new locations. Timeshares appealed to families and the working class individual for its ability to offer a lavish vacation at affordable prices. Throughout the 80s, as more people continued to see the benefit of the timeshare, the industry continued to grow. The timeshare industry expanded globally and seeing great success in Spain and Portugal. By 1990, timeshare was a household name and had expanded across Eastern Europe and Asia. Seeing the global success of timeshare, big hotel companies began to offer timeshare properties. With the backing of major hotel chains (Marriot, Sheraton, Ramada, Hilton etc.), timeshare sales reached record highs, as well as consumer confidence.

Today the timeshare industry is a multi-billion dollar industry. Timeshare resorts boast a worldwide offering of about 5400 resorts in over 100 countries. The United States alone accounts for approximately 45% of all timeshare owners. Backed by major corporations and global offerings, the timeshare industry is poised to expand ever more in the years ahead.

TIMESHARE HOT DEALS

Mystic Dunes Resort & Golf Club Ad #: 40488 Asking: $22900 OBO In the heart of Central Florida near Walt Disney World, Universal Orlando, and other exciting attractions is The Wyndham Palms Resort and Country Club, which offers fun, entertainment, and relaxation for the whole family. Enjoy on-property amenities such as an 18-hole championship golf course, professional golf instruction, restaurant, and clubhouse. Also featured are swimming pools, a wading pool, basketball court, tennis court, playground, a poolside grill and bar, 18-hole miniature golf, and organized activities for adults and children. The one-, two-, and three-bedroom villas include fully equipped kitchens and hot tubs in the master baths.

Divi Village Golf and Beach Resort Ad #: 52271 Asking: $11000  Just steps from Aruba’s white sand beaches and sheltered in a tropically landscaped garden, the Divi Village Golf and Beach Resort is convenient to all of Aruba’s temptations but stands elegantly apart. The Divi Village is centered on a large, sparkling freshwater pool, with views of Divi’s private beach located directly across from the resort. One hundred sixty two spacious studios, one, and two-bedroom suites offer fully equipped kitchens and private balconies with tropical scenery. New in 2004, the Divi Village opens The Links at Divi Aruba- a beautifully landscaped 9-hole golf course and golf training facility. The course will surround 240 luxury vacation suites and offer an exclusive clubhouse with two gourmet restaurants and a water view lounge.

ILX Resorts Ad #: 25801 Asking: $6300 timeshare negotiable ILX Resorts is a large resort chain offering over 13 different locations, all in settings of natural beauty, all underutilized or for other reasons available for relatively low cost, and all enhanced with the amenities and features that characterize a full service resort. The locations are easily accessible to those looking to take brief, local vacations—an ever-increasing trend for many families who often want the convenience and economy of in-suite meal preparation and dining. Our owners may utilize their time in as little as two days per vacation, allowing multiple planned or spontaneous vacations each year. Biennial interests are available, too.