Vacation Ownership: What is it?
Vacation Ownership at its base is essentially a group of people sharing the cost of a vacation home. The word "Vacation Ownership" has grown over the decades to include a wide variety of vacation products and plans. Also known as "timeshare", "holiday ownership", and "interval ownership", its umbrella covers traditional deeded vacation ownership ownership, fractional ownership, private residence clubs, points clubs, and more.
Some would even broaden the term further to include campground memberships and the "condo hotel" concept, in which a condo is purchased outright but the owner is only allowed to use it for a specific periods of time and it is rented by a hotel management company for the remainder of the time. Regardless of how you choose to define the term, the basic premise of Vacation Ownership is simple. You and a group of other people share the purchase cost of a vacation accommodation, in increments of one week (or more) per year of use, thus guaranteeing your ability to use that accommodation during the period of time you choose, either for life or for a specified number of years. Accommodations range from hotel rooms to condos, from cabins to luxury houses and castles, from yachts and cruise ships to RVs and houseboats. Many developers have now instituted a "points" system to make the use of vacation ownership more flexible.
Vacation Ownership Today
The modern vacation ownership industry continues to expand at an unprecedented rate, with new markets opening up in India, Asia and Eastern Europe, and steady growth in the established markets of Western Europe and the US.
Firmly established as a large and growing sector of the mainstream holiday market this multi-billion dollar industry now involves household names and has achieved global coverage with around 4,700 developments stretching from Scotland to Tanzania. Some of the world's leading names in hospitality are involved in the vacation ownership industry, such as Hilton, Sheraton, Marriott, Disney, Hyatt, Westin and Radisson. Approximately 3.8 million owner families and at least another 3 million of their relatives and friends worldwide enjoy these high quality developments, making the phenomenon of vacation ownership a success story, which few could equal.
Vacation Ownership in the Future
The future for the vacation ownership industry looks sets to match or even exceed its spectacular growth to date.
Social trends mean that more people have more time and more money to devote to travel and the vacation ownership concept, given a firm footing thanks to regulation designed to reassure and protect purchasers, is set to expand accordingly. In ten years time who knows where the next new development will be opening?
Why own Vacation Ownerships
- Cuts the cost of vacationing.
Stay in a luxurious resort condominium instead of a hotel or motel and pay nothing extra for the whole family. Also rent additional time at your resort or other resorts for the price of maintenance fees.
- Access to multiple resort locations.
Through the vacation ownership exchange you can trade your week for another available week in up to 4000 resorts worldwide.
- Guarantees vacations every year.
No more taking a vacation only if you can find a reservation. Schedule your vacation, plan for it, go for it.
- Pride of ownership.
Own your own vacation home in a luxurious resort condominium with deed, title, and in most cases, realized real-estate equity. vacation ownerships can be sold like any asset or rented out. Also, realize all the tax benefits of owning a second vacation home.
- Share maintenance expenses.
The basic concept of "vacation ownership" is to make owning a second home or vacation home affordable to the average person. You only own and pay for what you use and share maintenance expenses with owners of other parts of the year.
For comprehensive information on the Timeshare industry or vacation ownership in general, visit Timeshare Resouce Center. It is the standard for unbiased information on Timeshare Destinations, resorts and developers. |
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