Did you know that a timeshare is also known as a vacation ownership property or a shared vacation? A timeshare is where multiple people are owners of a single vacation property where they each have a financial agreement that allows them to use the vacation property for a set amount of time each year. One of the perks of being a timeshare owner is having the ability to plan vacations ahead of time and paying for accommodation costs. Each year the timeshare owners can use the vacation property for the time that they have selected. Most timeshares have 25-52 owners, which means the timeshare owner can spend one to two weeks at the property each year.
Comfort and Flexibility
Right now, many prospective timeshare purchasers along with genuine timeshare owners are wanting more vacation flexibility and choices as they don’t want to force to take their vacation at one property. They are wanting to have other vacation plan choices along with maintaining the high level of services and comfort that they are used to. Many more timeshare companies are hearing this and they are now adding a timeshare exchange program where their members can stay at other timeshare resorts. A timeshare owner can use the exchange program to stay at other timeshare resorts.
Timeshare Exchange Programs
Occasionally, timeshare members may have to pay an added fee to their timeshare company for the timeshare exchange, but there are timeshare companies that have created a points system where timeshare owners can accrue points, then use the points for different vacation locations, tours, meals, and other activities. There are rules for each timeshare company regarding the points system and some timeshare companies only allow points to be used a certain time of the year, but to know for sure timeshare owners will need to check with their timeshare company.
Timeshare Industry Is Booming
The timeshare industry is a very successful market despite some what some people may consider to be timeshare ownership drawbacks. During the 2007 year, there was over 10 billion dollars spent on timeshare memberships, and then timeshare sales slowed dramatically to 6.3 billion dollars in 2009. However, timeshare membership sales have been increasing each year since 2009, but 2007 remains the best year ever for timeshare membership sales. Timeshare providers are now offering more amenities and services that buyers are interested in, so timeshare purchases are expected to increase in the coming years.
Timeshare Memberships on the Rise
In the USA during the year of 2014, there was 7.9 billion dollars in timeshare sales and nearly 400 timeshare memberships were bought. It makes you wonder how many people purchased their timeshare membership when they visited a timeshare presentation. Usually 15 percent of the individuals that attend a timeshare presentation end up purchasing a timeshare membership. More and more people are interested in purchasing timeshare memberships, and planning ahead to make sure you qualify to become a member is important.
Did you enjoy reading about timeshare stats and facts? You can leave a comment below.