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

Hilton Grand Vacations Club on the Las Vegas Strip Ad #: 16244 Asking: $15900 Firm Rental: $900 Negotiable The Hilton Grand Vacations Club on Las Vegas Boulevard is located right on the exciting Las Vegas strip and across the street from the monorail station. Guests are just minutes from recreational opportunities including roller coasters and bungee jumping. Skydiving, hiking and scenic helicopter flights are all available within ten miles of the hotel. Premier shopping destinations are located in downtown las vegas and a shopping mall just three miles from the hotel. Guests at the Hilton Grand Vacations Club can swim in the outdoor pool, enjoy a cocktail at the poolside bar or relax in the spa tub. The fitness center features cardio equipment and free weights, and pool, foosball and air hockey are available in the game room. The hotel also features a 24 hour front desk, concierge, business center, conference rooms and coffee shop. The hotel's in house restaurant, the waves pool bar and grill, serves drinks and american fare including appetizers and hamburgers. For guest convenience, the marketplace offers sandwiches and various sundry items for in room delivery and takeout. The 28 story hotel has 506 guestrooms with modern decor complemented by wood and cream colored accents, work desks, high speed internet access, satellite television and dvd players. Kitchen areas have polished granite countertops, refrigerators, microwave ovens, coffeemakers, blenders, toasters, dishes and cookware. Additional amenities include separate sitting areas and complimentary toiletries. The Hilton Grand Vacations Club on Las Vegas Boulevard is in the perfect location for visitors looking to enjoy all the fun and festivities that the las vegas experience entails.

Magens Bay Villas Club at Magens Ad #: 43378 Asking: $1999 Negotiable The famous Magens Bay Beach and Mahogany Run golf course offer the background setting for Magens Point Resort. Relax by the outdoor pool or try your hand at a game of tennis. The resort offers a friendly family atmosphere along with a helpful staff to arrange sight-seeing trips and activities. Excellent duty-free shopping is available just minutes away in Charlotte Amalie.

InnSeason Resorts - Falls at Ogunquit Ad #: 26876 Asking: $4000 Firm InnSeason Resorts - The Falls at Ogunquit offers 76 beautifully appointed one-bedroom suites in a charming Maine seaside town. Guests will enjoy a year-round indoor heated pool, sauna, and fitness room, and have the opportunity to meet new friends at the barbecue and children's play areas. Units include a separate bedroom with a whirlpool bath; living room with fireplace, sleeper sofa, and color cable television; and a convenience kitchen with a microwave and refrigerator. The resort is located on Ogunquit's famous trolley route, only minutes from the beach, restaurants, summer playhouse, and quaint village center of Ogunquit.