Timeshare

A timeshare is a property ownership model where multiple people — up to 52 persons — share ownership of a vacation property. Each person is given a specific period they can use the property — usually one or two weeks per year. Some chain hotels and groups allows owners to exchange their timeshare weeks for stays at other properties within the same network.

There are various types of timeshare ownership, including

• Fixed-week ownership gives owners the right to use the property during a specific period yearly;
• The floating-week model allows people to choose any week within a designated season (e.g., summer or winter) based on availability;
• With the points-based ownership, owners receive points annually and can use them to book stays; and
• Right-to-use ownership gives individuals the right to use the property for a set number of years, after which the ownership reverts to the resort.

Timeshares offer benefits like guaranteed vacation accommodations, access to resort-style amenities, and potential long-term cost savings. However, they also have drawbacks like maintenance fees, long-term financial commitments, and limited flexibility in booking dates.

Timeshares are also challenging to resell, and owners may struggle to recover their initial investment, which can be $20,000 and above for a single unit.