Timeshare is a broad term used to describe the partial ownership of holiday accommodation and is a hybrid of the property development, finance, tourism, and hospitality industries.
Each “owner” owns a certain period of time, “points” or “intervals” which allow the owner to occupy a unit or choice of units of accommodation on an intermittent basis, making timeshare a form of pre-paid holiday plan for a pre-determined period.
Consumers pay a purchase price and then an annual maintenance fee for the upkeep of the unit/property like a Body Corporate fee. Exchange companies provide exchange services across timeshare resorts Internationally allowing flexibility in terms of choosing where to holiday.
