Timeshare History

Like most truly great ideas the concept of timeshare ownership, or condominium ownership sprang from necessity. In the Europe of the 1950’s, personal taxation levels climbed to over ninety percent among groups whose income was derived from investments and the rents from property. From what governments in England called passive, or unearned, income.

The people most affected were also the ones most likely to have inherited a large country residence or holiday chateau. These large rambling estates often had stables, private fishing and boating lakes, manicured lawns and gardens, tennis courts and swimming pools. A lot of the things luxury resorts have today.

But the high levels of taxation were making it impossible for individual owners to maintain these properties, or even pay the taxes on them. Especially as they were only used once a year. It was a real problem for many and it was exacerbated when local authorities started to take possession for unpaid taxes and found there was a very limited market for these magnificent facilities that were only used once a year.

Yes, with the twenty-twenty vision of hindsight the solution to the problem is obvious. Although history doesn’t record the name of the man, if indeed it was a single individual, who came up with the idea of co-ownership, it is a concept that solved the problem and created an industry.

An industry and a lifestyle for millions of people. There are now nearly six million families worldwide, with over two million American families who belong to this community.

The concept was just so practical because it enables average families to take holidays that were once only enjoyed by the very wealthy.

Fifty years on it is now a mature industry with a mature rental and re-sale segment, centralized exchanges that enable families to exchange times or resorts and the entrance by major hospitality groups, such as Disney, Marriott, Sheraton and Hilton, into the business.

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