In the late 60's a group of businessmen purchased a set of ocean-front condominiums in Hawaii, and sold off 51, one-week vacations, keeping the 52nd week each year out for maintenance and refurbishment. This was already a popular and successful idea in Europe, and the concept spread like wildfire in the U.S.

The next phase in timeshare started when owners realized they couldn't always get away the same week every year, so flexible/floating time was developed. With floating time you still owned a week a year, but now you could trade your week to another owner and go on vacation during their week.

After a few years of going to the same resort, some owners decided they didn't want to vacation in the same place every year, and again, time share evolved. Exchange programs were started so owners could not only trade which week they vacationed, but they could also trade their week in Hawaii for someone else's week at a resort in Mexico or somewhere else.

As with any new venture, there were bugs that needed to be worked out. One early problem was unscrupulous sales people would reserve peak weeks at a resort to use as a sales promotion, thereby leaving only the off-peak times available for owners to use. Another problem arose when a developer would build a resort and then move on once all the condo weeks were sold off. Owners quickly realized they needed some way to take care of the upkeep on the units and take care of maintenance on the resorts grounds and amenities, such as swimming pools, tennis courts, etc. Homeowners Associations were formed and owners elected officers to control expenses, take care of upkeep, and select a good management company. One of the biggest controversies about timeshare came up when new owners were convinced that their purchase was going to be a great real estate investment with short term appreciation, and the potential to "get rich quick." Today's timeshare owners know that they are making an investment in a vacation lifestyle rather than an investment in a quick money making scheme.

Today there are over 4,000 resorts in over 80 countries, and time share has become more flexible and easier to use and exchange, than ever before. Originally starting with fixed weeks, we now have the option of floating time, split weeks, quarter shares, fractionals, clubs and points. This incredible growth and popularity has now attracted the major hotel players like Marriott, Disney, Hilton, Embassy Suites, and Ramada.

1. It's easy to have years go by while you plan to "someday" go on vacation. When you own a timeshare, it is a vacation waiting to happen. One nice advantage is when you are going somewhere and you have to pay airfare, it's nice to have your condo paid for in advance. It's easy to just make a reservation, then pack up and go, when you have a choice of beautiful resorts, and a travel department ready to help with your airline needs.

2. A motel room doesn't compare to the luxury of a fully furnished condo. You can "move-in" to your own place, rather than feeling like you're living out of a suitcase. The completely stocked kitchens are great for those times when you don't want to go out for meals. From the toaster to the popcorn popper, to the blender, you'll feel like you're at home. Packing a weeks worth of clothing for a family takes up a lot of room. With a washer and dryer right there in your condo you can pack half as many clothes and have them washed and dried before you head home.

3. Most resorts have a variety of on-site amenities and activities. Some you might find are: on-site restaurant, swimming pools, jacuzzi, pool tables, ping-pong, work out rooms, video rental, books, games, arcade, tennis, and golfing.

4. For about the same money as it would cost to "rent" a few vacations in a nice hotel, accommodations can be owned forever in a deeded vacation timeshare condo that exchanges via computer to resorts virtually anywhere in the world. Most timeshares are located at the more high demand, exclusive, or luxury resorts. With ownership of a timeshare you are ensuring that you have exclusive use of accommodations that meet your lifestyle.

5. Ownership combined with an exchange company such as RCI gives you the flexibility to travel locally for mini get-aways, or exchange your time for a condo in an exotic or international location.