Easy Travel Forums | Basic Facts about Owning a Timeshare

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The concept of “timeshare”
originated in Europe in the early 1960’s and
the whole idea has attracted regular tourists who regularly visit a resort to
buy timeshare since it was introduced to them. Why? Basically, instead of
renting a room for a week in a resort or hotel in a yearly basis, a timeshare
owner are given the privilege to stay in a room of the hotel or resort for a
week instead of paying accommodation expenses of that particular resort or
hotel. Since then this concept has been widely famous for regular tourists in
Europe and even in the US,
wherein the ARDA International Foundation and the American Resort Development
Association has been organized.

In the United Kingdom, the organization
formed for the timeshare industry is the Resort Development Organisation. The growth
of the timeshare industry of almost more than 40 years has increased to almost
3.2 million Euros, employing 70,000 people and was one of the thriving industry
across Europe since the concept was developed.

Currently, statistics shows that
there are at least 1,312 timeshares in Europe which is the equivalent to 67
million bed nights according to a London
news report.

Since the booming industry has
generated a large lump sum of income in Europe,
they have coined a national legislation that will regulate the growing
timeshare business. They adopted “The European Directive 94/47/EC” of the
European Parliament and Council to protect timeshare contracts and purchase
rights of timeshare owners.

According to Wikipedia, timeshare
owners have their rights limited to the following:

·        
Use
their usage time

·        
Rent
out their owned usage

·        
Give
it as a gift

·        
Exchange
internally within the same resort or resort group

·        
Exchange
externally into thousands of other resorts

·        
Sell
it either through traditional advertising, online advertising or by using a
licensed broker

Adding to this, owners may elect to
the following conditions:

·        
Assign
their usage time to the point system to be exchanged for airline tickets,
hotels, travel packages, cruises, amusement park tickets;

·        
Instead
of renting all their actual usage time, rent part of their points without
actually getting any usage time and use the rest of the points;

·        
Rent
more points from either the internal exchange entity or another owner to get a
larger unit or more vacation time or at a better location;

·        
Save
or move points from one year to another.

Once
a timeshare owner wanted to sell their timeshare, the process can be done
either through, TV advertising, online promotion or exchange their timeshares
to other resorts that interests them. There are online sites that help sell
your timeshare such as the site indicated in the author’s bio who have been in
the business for more than 20 years and have sold all sorts of timeshare across
Europe

For More Information Visit: http://www.iwanttosellmytimeshare.co.uk/?gclid=UNI001

Edited by iwant2sell - 29 Jul 2009 at 11:08am

Author	Message
iwant2sell Newbie Joined: 29 Jul 2009 Location: United Kingdom Online Status: Offline Posts: 1 view gallery	Topic: Basic Facts about Owning a Timeshare Posted: 29 Jul 2009 at 11:06am
	The concept of “timeshare” originated in Europe in the early 1960’s and the whole idea has attracted regular tourists who regularly visit a resort to buy timeshare since it was introduced to them. Why? Basically, instead of renting a room for a week in a resort or hotel in a yearly basis, a timeshare owner are given the privilege to stay in a room of the hotel or resort for a week instead of paying accommodation expenses of that particular resort or hotel. Since then this concept has been widely famous for regular tourists in Europe and even in the US, wherein the ARDA International Foundation and the American Resort Development Association has been organized. In the United Kingdom, the organization formed for the timeshare industry is the Resort Development Organisation. The growth of the timeshare industry of almost more than 40 years has increased to almost 3.2 million Euros, employing 70,000 people and was one of the thriving industry across Europe since the concept was developed. Currently, statistics shows that there are at least 1,312 timeshares in Europe which is the equivalent to 67 million bed nights according to a London news report. Since the booming industry has generated a large lump sum of income in Europe, they have coined a national legislation that will regulate the growing timeshare business. They adopted “The European Directive 94/47/EC” of the European Parliament and Council to protect timeshare contracts and purchase rights of timeshare owners. According to Wikipedia, timeshare owners have their rights limited to the following: · Use their usage time · Rent out their owned usage · Give it as a gift · Exchange internally within the same resort or resort group · Exchange externally into thousands of other resorts · Sell it either through traditional advertising, online advertising or by using a licensed broker Adding to this, owners may elect to the following conditions: · Assign their usage time to the point system to be exchanged for airline tickets, hotels, travel packages, cruises, amusement park tickets; · Instead of renting all their actual usage time, rent part of their points without actually getting any usage time and use the rest of the points; · Rent more points from either the internal exchange entity or another owner to get a larger unit or more vacation time or at a better location; · Save or move points from one year to another. Once a timeshare owner wanted to sell their timeshare, the process can be done either through, TV advertising, online promotion or exchange their timeshares to other resorts that interests them. There are online sites that help sell your timeshare such as the site indicated in the author’s bio who have been in the business for more than 20 years and have sold all sorts of timeshare across Europe For More Information Visit: http://www.iwanttosellmytimeshare.co.uk/?gclid=UNI001 Edited by iwant2sell - 29 Jul 2009 at 11:08am

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miumiuhandbag Groupie Joined: 27 Jul 2010 Location: tokyo Online Status: Offline Posts: 52 view gallery	Posted: 27 Jul 2010 at 1:15pm
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