September 29th, 2008
Timeshares – A Brief Overview
If simply put – timeshare is either a property or the right to use a property. This property is usually a resort condominium unit and anyone can have the right to use such in their specified time interval of ownership. According to a historical account, this idea was first introduced in Europe in the 1960s when a ski resort developer in the French Alps advertised his resort by encouraging guests to "stop renting a room" and instead "buy the hotel." With such a catch, the business of timeshares was a big success and the concept was embraced by developers worldwide from then on – boosting sales of surplus condominium units at a time when the resort industry was depressed. Other accounts existed from this time period of properties sold on a similar scheme in the United States (southwest) but the first hotel to embrace this concept is alleged to be Hilton Hale Kaanapali on the Island of Maui in Hawaii.
