From shared chalets to your own private pool villa: A brief history of the timeshare industry

It’s believed that timeshares, or vacation ownership programmes, got their start in Europe in the early 1960s with families sharing vacation chalets. This concept was mostly used by families related to each other who would rotate which seasons they could use the property each year so each family could enjoy the prime seasons. However, since few families would vacation for an entire season at a time, these types of shared vacation homes were often left vacant for long periods of time with no property manager to take care of upkeep and general maintenance.

The concept evolved and grew to incorporate shorter stay periods (typically a minimum of one week) and corporations became involved in selling rights of use to a wider market of consumers. In the mid-1970s, timeshares particularly caught on in the United States where their popularity has continued to grow over the decades, becoming an established and trusted vacation option for millions of families worldwide.

What’s not to love about a holiday programme where you can spend precious time with your loved ones more often and for less money than organising accomodation on your own? Through a timeshare, families who have before been stuck sharing cramped hotel rooms or returning to the same location year after year, can now indulge in more spacious accommodations, such as private suites and villas in an array of enticing destinations.

As the industry has developed and matured, vacation ownerships have also advanced to offer greater flexibility and choice. Aside from the traditional sale of weeks, many companies have also started vacation ownership programs offering points systems that allow members the option to divide the use of the time to best suit their lifestyle. Additionally, leading hotel and hospitality groups have joined the timeshare industry creating even more exceptional properties and programmes for their members.

According to the ARDA (American Development Resort Association), in 2015 there were nearly 5,400 shared vacation ownership resorts worldwide offering more than 527,000 units – and the numbers are still growing!