What is Timeshare?
The Timeshare Concept The timeshare industry is over 50 years old, and generates revenues of over $14bn per annum in sales and $45 billion in economic output (figures from the ARDA International Foundation, 2010). Today, there are approximately 20 million timeshare owners worldwide, of which over one and a half million reside in Europe alone. Yet few realise what timeshare is and the extent of its contribution to the economies of Europe and…Read more
How Timeshare Works
Timeshare Resort Developers Timeshare developers have the principal responsibility for shaping the development of the timeshare scheme as they take the decisions which establish the characteristics of their resorts and, in most cases, the way in which they will be run. As well as arranging their own project financing, developers may also typically put in place consumer finance facilities. Once the resort is ready for sale, the developer puts in place a mechanism to protect…Read more
What is Fractional Ownership
Fractional ownership enables people to own an interest in a luxury property (often in an exclusive holiday resort or glamorous city centre location) that they might otherwise be unable to afford. It is equally attractive to those who can afford to purchase property outright, but do not have the time to use or maintain it all year round. It is commonly sold in anything from quarter to one twelfth shares, with periods of the year…Read more
Buyers of timeshare have been protected through Europe wide legislation since 1997 and in 2011 an updated Directive (2008/122/EC) was introduced, giving consumers enhanced levels of protection. The Directive now also covers timeshare resales exchanges and most importantly holiday clubs. It also includes boats, caravans and cruise ships… Read more