Also known as Timeshare Properties, these units are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week) in which they may use the property. The vacation ownership industry is over 25 years old (began in Europe in the 1960s); today, the vacation ownership industry has grown lucratively as re
flected by the growing interest of vacation-goers from all over the globe. There are 5,400 resorts in over 90 countries that offer vacation ownership packages that translate to over USD11.8 billion in worldwide sales on an annual basis.
