What Is Timeshare?

Timeshare, over the years, has become discredited in respect to its image and its brand. 

Consequently, timeshare sellers have migrated away from the use of the word “Timeshare” so as to disassociate themselves from the discredited image and those timeshare companies have started to use other titles to describe what in essence is timeshare. Such migrated phrases like “Holiday Club”, “Fractional Ownership”; “Destination Club”; “Vacation Ownership” etc. All of which are “Timeshare”.

The timeshare industry asserts that there are over six million individuals/families who own timeshare worldwide – "some" of which are genuinely satisfied with their ownership but unfortunately for the industry the numbers of those who are not are growing on a daily basis.

Timeshare accommodation was initially sold as a higher standard than hotels or rented accommodation. In most instances it was also sold as an "exclusive members only club" in which considering the factors it charged and annual maintenance fee for the upkeep of the resort to meet expectations of the owners who invested into the resort.

Fixed week ownerships are at the same resort, in the same unit size, and during the same week each year. 

Instead of owning a specified week, you own a week (or a time period which may be longer than a week) within a seasonal band of time. Each year you have to book the specific week that you want, but this is “subject to availability”.

Instead of owning a specified week, the consumer purchases points. The points purchased by the consumer are used to book vacations. Each resort will have a different costing on the points system as will the time band in which the vacation is booked.

This is essentially a rebrand of the initial timeshare concept.

"Fractional ownership" offers owners holiday ownership on a shared time principal, in up-market accommodation for a fixed ownership term. It is offered with various numbers of weeks right to use per year (company dependent) with "6 weeks" being 1/8th of a fraction. Fractional Ownership is usually sold with a guarantee that assets will be sold upon expiry of the ownership contract subject to all parties agreeing to the sale.

This evolution initially took the industry by storm, but was certainly quickly undercover as the most precarious.

Upon the birth of the holiday clubs club product, it started by offering consumers a "Top Quality Holiday" at a fraction of the cost. Many holiday clubs would also entice consumers in by taking over their unwanted timeshare ownership purporting no more liability in regards to their maintenance fees but obviously for a price. Two of which in Europe were namely; Club Class Concierge & Designer Way Vacation Club.