What Is A Timeshare? |
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Answer:
A timeshare is basically defined as shared ownership of a property. Some people also refer to it as “vacation ownership.” The idea of a timeshare was first created in Europe in the 1960s. In the French Alps, a ski resort developer used a marketing plan where they invited guests to “buy the hotel” rather than “rent a room.” Their efforts were successful, and developers worldwide embraced the marketing plan, and during a down time in the resort industry, they used it as a way to get rid of excess inventory. Timeshares have become quite profitable for the major resort companies due to their popularity with vacationers. One thing that adds to their popularity is that it allows families with a moderate income to enjoy vacation time in a luxury resort for a relatively low price tag, a privilege which was once only available to the superrich. According to the American Resort Development Association (ARDA), as of January 1, 2006, there were 1,604 timeshare resorts with 154,439 units in the United States. Although less than six percent of American households own a timeshare, their ownership continues to expand. As of January 1, 2007, roughly 4.4 million households owned one or more weekly timeshares, and increase of sixteen percent over the previous year. Owners of a timeshare are allowed to: use their usage time, rent out their owned usage, give it as a gift, exchange it internally within the same resort or resort group, exchange it externally into other resorts, and sell either through traditional advertising, online advertising, or by using a broker. Some developers limit these options. You will need to check with your developer to see what your rights are. Trackback(0)
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