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Timeshare Information
History of Timeshare
The timeshare first originated in Europe in the 1960's. The popularity of commercial jets as well as the
60's carefree attitude helped revolutionize the travel industry. A French development company, The
Societe des Grands Travaux de Marseille recognized the considerable growth in the travel and tourism
industry and are one of two companies that began to offer the timeshare model. They are credited with
developing the first ever timeshare slogan; "No need to rent the room, buy the hotel, it's cheaper!" Like
that, the timeshare was born. The first resort to adapt the timeshare was a ski resort in the French Alps
called SuperDevoluy. At the same time, another company called Hapimag in Baar Switzerland also
offered the timeshare model. The owners of Hapimag began purchasing resort properties in Italy,
Spain, and Switzerland giving their members a choice of timeshare destinations.
The first timeshare in the United States started on the island of Kauai in 1969 by two men who later
started Vacation Internationale. Those interested in the timeshare program were offered weeks that
were sold on a leasehold basis. They also were the first to offer timeshares sold on a point system to
give more options to timeshare owners. The first state in the continental U.S to offer timeshares was
Florida. During the 1 970's, many existing condo developments in Florida migrated towards the
timeshare resorts model. In 1973, a joint effort by the Hyatt company and Innisfree companies offered
the first "deeded ownership" timeshares. Shortly thereafter, Resort Condominiums International (RCI)
debuted in 1974. RCI provided timeshare owners with the flexibility to exchange weeks between
different timeshare resorts. This was a very attractive option to timeshare owners, one which they did
not have before. To this day, RCI is one of the largest timeshare exchange companies in this world.
During the end of the 70's and into the early 80's the timeshare industry continued to grow. Driven by
the popularity of timeshares, resorts all over the world were converting over to them. The timeshare
appealed to people of all classes and backgrounds. The high class individual used the timeshare to
travel to exotic resorts and new locations. Timeshares appealed to families and the working class
individual for its ability to offer a lavish vacation at affordable prices. Throughout the 80s, as more
people continued to see the benefit of the timeshare, the industry continued to grow. The timeshare
industry expanded globally and seeing great success in Spain and Portugal. By 1990, timeshare was a
household name and had expanded across Eastern Europe and Asia. Seeing the global success of
timeshare, big hotel companies began tc offer timeshare properties. With the backing of major hotel
chains (Marriot, Sheraton, Ramada, Hilton etc.), timeshare sales reached record highs, as well as
consumer confidence.
Today the timeshare industry is a multi-billion dollar industry. Timeshare resorts boast a worldwide
offering of about 5400 resorts in over 100 countries. The United States alone accounts for
approximately 45% of all timeshare owners. Backed by major corporations and global offerings, the
timeshare industry is poised to expand ever more in the years ahead.
The timeshare first originated in Europe in the 1960's. The popularity of commercial jets as well as the
60's carefree attitude helped revolutionize the travel industry. A French development company, The
Societe des Grands Travaux de Marseille recognized the considerable growth in the travel and tourism
industry and are one of two companies that began to offer the timeshare model. They are credited with
developing the first ever timeshare slogan; "No need to rent the room, buy the hotel, it's cheaper!" Like
that, the timeshare was born. The first resort to adapt the timeshare was a ski resort in the French Alps
called SuperDevoluy. At the same time, another company called Hapimag in Baar Switzerland also
offered the timeshare model. The owners of Hapimag began purchasing resort properties in Italy,
Spain, and Switzerland giving their members a choice of timeshare destinations.
The first timeshare in the United States started on the island of Kauai in 1969 by two men who later
started Vacation Internationale. Those interested in the timeshare program were offered weeks that
were sold on a leasehold basis. They also were the first to offer timeshares sold on a point system to
give more options to timeshare owners. The first state in the continental U.S to offer timeshares was
Florida. During the 1 970's, many existing condo developments in Florida migrated towards the
timeshare resorts model. In 1973, a joint effort by the Hyatt company and Innisfree companies offered
the first "deeded ownership" timeshares. Shortly thereafter, Resort Condominiums International (RCI)
debuted in 1974. RCI provided timeshare owners with the flexibility to exchange weeks between
different timeshare resorts. This was a very attractive option to timeshare owners, one which they did
not have before. To this day, RCI is one of the largest timeshare exchange companies in this world.
During the end of the 70's and into the early 80's the timeshare industry continued to grow. Driven by
the popularity of timeshares, resorts all over the world were converting over to them. The timeshare
appealed to people of all classes and backgrounds. The high class individual used the timeshare to
travel to exotic resorts and new locations. Timeshares appealed to families and the working class
individual for its ability to offer a lavish vacation at affordable prices. Throughout the 80s, as more
people continued to see the benefit of the timeshare, the industry continued to grow. The timeshare
industry expanded globally and seeing great success in Spain and Portugal. By 1990, timeshare was a
household name and had expanded across Eastern Europe and Asia. Seeing the global success of
timeshare, big hotel companies began tc offer timeshare properties. With the backing of major hotel
chains (Marriot, Sheraton, Ramada, Hilton etc.), timeshare sales reached record highs, as well as
consumer confidence.
Today the timeshare industry is a multi-billion dollar industry. Timeshare resorts boast a worldwide
offering of about 5400 resorts in over 100 countries. The United States alone accounts for
approximately 45% of all timeshare owners. Backed by major corporations and global offerings, the
timeshare industry is poised to expand ever more in the years ahead.
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