Timeshare is the advance payment of future accommodation in a hotel or tourist condominium, that is, for a fixed discounted price and an annual maintenance fee, the use or enjoyment of a vacation period per year is acquired, normally on a weekly basis , to be enjoyed for a certain number of years (from 20 to 30), in a unit with capacity for two, four, six or more people.
In its beginnings, Timeshare resulted from the fragmentation of the ownership of condominiums or residences in tourist places and in other cases, as a financial solution for some hotels with little success. Timeshare has its origins in Europe, mainly in Switzerland in 1963 where the Hapímag company started its first timeshare project with the purpose of ensuring its customers rooms available in the main tourist centers of Central Europe, especially in Spain.
In 1966 a group of Japanese investors promoted a project similar to the one developed by the Swiss company called Japan Villa Club, its success was so resounding that it now has 300 resorts and 250,000 members.
Later, Mr. John H. Dehaan exported the idea to the United States of America and became one of the pioneers of this modality. By 1969 the United States of North America began its first project in Kavikailari, Hawaii. In 1972 this concept was developed in Bird Rock Falls in North Carolina and in 1973 another development began in Lake Tahoe, California.
With the entry of the United States into this market, worldwide timeshare sales grew in the order of 500%, from 10 million in 1970 to more than 500 million sales in 1995.
At the end of the 80’s, this new type of accommodation spread to various countries around the world, including Canada, Australia, Asia, South Africa, the Caribbean, Mexico, Israel and countries in Eastern Europe.
For the year 2011 in the world the data of the timeshare industry indicates that there are 5,316 tourist developments, with a little more than 497 thousand units, which have a little more than 8.1 million timeshare owners and reported sales by 14.7 Billion Dollars, as well as a total of 28 million 866 thousand tourists traveling through the timeshare modality. It should be noted that worldwide the Timeshare System has a presence in the countries and entities of the following regions, North America (Canada and the United States of North America), Latin America (includes Mexico) and the Caribbean (45); Asia and the South Pacific (22), Europe (28) and Africa and the Middle East (1).