What is Timeshare?
Timeshare dates back to 1964. It was created in Europe and started by a French developer of a ski resort in the French Alps. He used the slogan “No need to rent the room; buy the hotel, it’s cheaper!” to sell the first timeshares ever. Subsequent success followed and the concept was quickly embraced by developers worldwide.
Florida was the home of the first timeshares developed in the continental United States. During the mid 70’s, the oil crisis forced families to look for ways to make vacations more affordable.
The timeshare industry continued to grow with more resorts converting to timeshare than ever before. The concept claimed all walks of life with the promise of luxurious new resort properties in exotic destinations while spending less money on vacations.
By 1990 there were over 4 million timeshare owners at over 2300 timeshare resorts.
By definition, a timeshare is a plan in which persons share ownership of a vacation home entitling each participant to use the residence for a specified time each year. Since the 1990’s, timeshare resorts have more than doubled to over 5,400 resorts worldwide. The prevalence of timeshare ownership continues to grow in popularity because of its commitment to luxurious and economical vacationing opportunities.