What is Timeshare
Timeshare can be used to mean a number of different things. If you ask Go Timeshare “what is timeshare”, we mean the following:
Shared ownership of holiday accommodation where the owners have the right to use the property at a specific time of the year.
Timeshare accommodation is typically part of a larger resort or complex that has a range of facilities available for owners during their stay. When people initially buy timeshare, they own the right to use a particular property at a specific time of the year – although these days you can often use that time flexibly by swapping with other members or using an exchange service to try out different resorts.
Where are Timeshares located?
There are timeshare resorts in most major destinations around the world. Spain is the most popular destination for timeshare, with developments in most of the major resorts that attract holiday makers, but in most cases, you will be able to find timeshare property wherever you want to go.
Timeshare Consumer Protection
There are a number of organisations that have been set up to represent consumers and developers including the RDO, and TATOC. There are also European laws in place to cover the timeshare industry, especially around the areas of buying and selling timeshare.
How many People own Timeshares
Under our definition of what is timeshare, there are around 6 million people around the world who own timeshare properties.
Other Names for Timeshare
Timeshare is the most common name for the partial ownership of accommodation in a resort. However within the industry, there are a few other names that are used, and these can often confuse people about what is timeshar. These include:
- Vacation Club
- Holiday Club
- Multi ownership
- Holiday ownership
- Fractional Ownership.
Some of these terms, such as vacation club and holiday club can be a bit misleading, and can also mean a variety of other things.