What is Vacation Ownership?

Vacation ownership is a concept that originated in the French Alps in the 1960s. The concept offers consumers the opportunity to purchase fully ­furnished vacation accommodations sold in a variety of forms, such as weekly intervals and points-based systems, for only a percentage of the cost of full ownership. Consumers are embracing timesharing, making it one of the most rapidly growing segments of the global hospitality industry.

Why Vacation Ownership?
Millions of owners have found the spacious floor plans and well-appointed units very attractive when compared with traditional hotel options. Truly a home away from home, vacation ownership provides the room and flexibility needed to accommodate families and large groups.

Vacation Ownership resort amenities rival those of other top-rated resort properties and may include children’s activities, swimming pools, Jacuzzi, golf and bicycles as well as spa and exercise facilities.

It’s simple, really. For a one-time purchase price and payment of a yearly maintenance fee, purchasers own their vacation either in perpetuity or for a predetermined number of years. Owners share both the use and the costs of upkeep of their unit and the common grounds of the resort property. Each condominium, or unit, of a vacation ownership resort is divided into intervals, either by the week or points equivalent, which are sold separately.

Vacation ownership purchases are typically financed by consumer loans of five to ten years, with terms dependent upon the purchase price and the amount of the buyer's down payment.The accommodations are priced according to a variety of factors, including size of the unit, resort amenities, location, and season. From its origin, the idea behind timesharing was to give people the ability to purchase their future vacations—at current prices.

(Reprinted with permission of ARDA)