2.7 Million Time-Share Owners Are Bartering Their Time-Share Weeks

4,300 Resorts In 81 Countries Around The World Have Created An Enormous “Exchange” Industry

Once time-sharing was regarded as a shoddy product in the U.S., but in 1985 legislation clamped down on sleazy sales and building practices, squeezing out the “cowboys.”

Marriott moved in at the top end of the market, followed by Disney, Hyatt, Radisson and Hilton. These hotel chains account for just 20% of the U.S. time-share market, but they have lifted standards.

Reassured, consumers rushed in. In 1990 estimated time-share sales were $1.3 billion. “We estimate U.S. sales volume rose about $2.5 billion in 1996,” says Tom Franks, president of the American Resort Development Association.

“It was another record year. All our resorts are reporting the best sales ever.” Fact: holiday time-shares are the fastest-growing segment of the U.S. travel and tourist industry.

New American service companies have sprung up. Indiana’s Resort Condominiums International and Florida’s Interval International, have formed huge pools of time-share resorts and created a flourishing “exchange” industry.

For an annual fee of around $65, and another $90 or so per swap, time-share owners can use the services of these companies to trade their time-share weeks for holidays in some 4,300 resorts in 81 countries around the world.

About 2.7 million time-share owners tap the services of these two U.S. companies.

In April 1997 the European Union will enact legislation based on the U.S. model, mandating, for example, a “cooling off” period that allows buyers time to review their purchase away from the hard sell.

The same time-share rules throughout the continent will make Europe, with its aging populations and long vacations, an attractive market for experienced U.S. time-share operators. According to the American Resort Development Association, Europe recently surpassed the U.S. in terms of growth of new owners.

---

---