The flexibility of timeshare, much valued by timeshare buyers, has led to increased innovation within the industry as resort developers and exchange companies work together to deliver a greater variety of holiday choice and increased flexibility to owners and members.
The original fixed week, which was the purchase of a week’s use in a resort to be used at the same time each year at a home resort, was quickly joined by the floating week allowing for the week’s holiday to be taken at any time of year and in any resort. As floating weeks can be used to exchange home resort stays with those in other resorts around the world, exchange companies generally allocate a trading power to each week’s use period to ensure a fair and equitable exchange.
Timeshare in weeks and points
In 2000, timeshare exchange network RCI launched the points system, whereby buyers could purchase a number of points which they could then use to ‘buy’ time in a resort of the same value as the points available on their account. Many exchange companies now offer a points system and, as well as resort accommodation, points can be used to buy a selection of travel services such as car hire and flights, cruises and hotel stays from the exchange companies.
Points can be purchased as pure points, and weeks ownerships can, with an administration and conversion fee, be converted into points. Points can be added to at any time with further points purchases. To increase their flexibility, many exchange providers allow points members to carry points forward from one year to the next or to borrow from the forthcoming year to add to the current year’s points value allowing owners to access a higher quality resort or for a longer stay.
Category: Timeshare and fractional guides