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Timeshare / Vacation Rentals: Another new type or segment of the hospitality industry is the timeshare hotels. These are sometimes referred to as ” Vacation-interval” hotels. Timeshare hotels are where the guests who purchase the ownership of accommodations for a specific period. These owners may also have the unit rented out by the management company that operates the hotel.
A timeshare (sometimes called vacation ownership) is a property with a divided form of ownership or use rights. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each owner of the same accommodation is allotted their period of time. The minimum purchase is a one-week ownership, and the high-season weeks demand higher prices. Units may be sold as a partial ownership, lease, or “right to use”, in which case the latter holds no claim to ownership of the property. The ownership of timeshare programs is varied, and has been changing over the decades.
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