05/09/2014
Evolution of Timeshare!!!!
The timeshare industry is one of the newest and fastest growing sectors of the international hospitality and tourism experience. Although known as vacation ownership in some quarters, timeshare is the most widely used term to describe the purchase of time periods in locations of choice. The original model involved buying set weeks in a given accommodation in a specific resort, though this model has now been adapted and amended.
The timeshare industry first emerged significantly in Europe in the 1960s. One of the earliest examples emerged in a skiing resort in France. The skiers were wanting to ensure guaranteed accommodation for skiing. Property owners found that they could sell their rights to have access to the same accommodation across the year. Very soon, various US resorts began to sell timeshare weeks in their resorts. Since the 1970s, timeshare has evolved through different international resort locations and resort types, number of resorts, number of owners and variations in the nature of the timeshare offer Timeshare evolved as a form of second home ownership with limited rights of access, and The term ‘timeshare’ includes ‘time’ and ‘share’ indicating that the approach, in principle, involves sharing time in a given space. But since their introduction in skiing villages in France and in Switzerland, time share can be found for a range of resorts across the globe.
In fact, the first timeshare operation was begun in the 1950s in Europe by a Swiss company known as Hapimag. They sold shares in their hotel and used the proceeds to buy holiday accommodation across Europe.