Timeshares

If there’s one thing we can all agree on, that would be vacations. Vacations are that sweet relief, those concentrated 2 or 3 or even 4 weeks where one can completely disconnect, recharge, and enjoy life on our own terms. Cultures around the world enjoy vacations in different ways. Some folks like to get away to new and different places each year, while others prefer the same place. Some take lots of small vacations during the year and some prefer one concentrated block to disappear completely.

Whatever your thing is, the first thing to do prior to notifying your boss of your vacation intentions is to figure out what type of vacationer you, you and your significant other, or you and your family are. If you are into visiting destinations where you have the freedom to control your environment more than say you could in a hotel, then a timeshare is an option to consider.

Timeshares were originally conceived for those folks who prefer returning to the same vacation destination year after year. For example, a timeshare in Hawaii, that you and 3 other families enjoy throughout the year. All four of you split the costs and occupy said property according to each family’s preferences. The Smith family might have it for the first 3 weeks in June, then come the Johnsons for another 3 weeks, followed by the Jansen family, and in December/New Year, the Schmidt family uses it. Everybody has an invested desire in keeping the property clean and attractive because everyone holds a financial stake.

This was the initial model and one that frankly exploded in popularity rather quickly. Folks were entering timeshare relationships at a rapid rate, enjoying the perks of a timeshare compared to what one could get at a hotel. For example, at a hotel 1 or 2 beds in a single room are common, compared to a timeshare where there are anywhere from 1 to 3 private bedrooms all with multiple sleeping arrangements. Hotels offer 1 bathroom compared to multiple at a timeshare, and the mini-fridge and coffee maker that one finds at a hotel is replaced by a fully equipped kitchen like one that would be found in your own home.

In time, folks began to swap timeshares. Say you had one in Puerto Rico and grew tired of returning to the same timeshare year in and year out. Platforms and services emerged online where you could advertise your Puerto Rican timeshare and swap it for a timeshare in another location. If you wanted to enjoy some time in beautiful Miami, then a timeshare owner in Miami could contact you about your Puerto Rican abode and you could enter a timeshare swap. This option now makes timeshares extremely competitive with other types of vacation accommodations. Hotels however have not taken this laying down. Many large hotel brands have entered into the timeshare business, buying and constructing a vast portfolio of properties that they in turn have turned into timeshares and actively market in line with their traditional hotel offers.

Airbnb as we all know has also disrupted the market and what will be available for our children in 20 or 30 years will look nothing like what we have today. Vacation is big business, good news for us all.