WHAT IS TIMESHARE?
Timeshare is a practical concept that allows people to own a holiday interval (usually a week) in a resort. Because they share with many other owners in the expense of the construction and maintenance of the resort, they are assured of relatively inexpensive access to quality accommodation and facilities.
With the growth of the exchange system the benefit of ownership of timeshare weeks has been considerably enhanced and owners have been able to enjoy the flexibility of choosing between holidaying at their own resort or exchanging to one of the thousands of other resorts throughout Australia or overseas.
Timeshare originated in Switzerland and France in the 1960s when companies commenced selling “right of use” rather than titled real estate in a few resorts.
The first timeshare resort in the USA was the Kaua’i Kailani on the island of Kaua’I in Hawaii. By 1975 there were 45 American resorts with 10,000 owners and over the years since then the number of resorts around the world has grown to more than 5,500 with millions of owners.
Timeshare is such a fast growing segment of the tourism and leisure industry worldwide that some of the major corporations in that market – Hilton, Sheraton, Disney, Ramada, Four Seasons, Hyatt and Radisson – have become significant investors.
Timeshare arrived in Australia in the early 1980s and in 1983 Kyneton Bushland Resort was the first timeshare resort to be established in Victoria. Victoria now has sixteen timeshare resorts and Australia-wide there are more than sixty with over 110,000 owners.