The History of Timeshares: From Shared Cottages to Global Vacation Ownership
The concept of timeshares has evolved significantly since its inception in the early 1960s. What began as a simple idea to share vacation homes has grown into a global industry that continues to adapt to changing travel preferences and economic conditions.
Origins in Europe
The term “timeshare” was first coined in the United Kingdom in the early 1960s. The concept emerged from a post-World War II vacation system where four European families would jointly purchase a vacation cottage, each having exclusive use of the property for one season of the year. This rotation system ensured that each family could enjoy prime seasons equally.
The First Commercial Timeshare
The world’s first commercial timeshare appeared in 1963 when developer Hapimag and his partner Dr. Guido Renggli constructed a 13-unit resort in Graubuenden, Switzerland. They pioneered the concept of selling “right to use” packages and introduced the first points program, laying the groundwork for modern timeshare systems.
Arrival in the United States
Timeshares made their way to the United States in the mid-1960s. The Hilton Hale Kaanapali in Maui, Hawaii, broke ground in late October 1965, becoming the first hotel-condominium timeshare in the country. This development set the stage for the expansion of timeshares across the United States.
Rapid Growth in the 1970s
The timeshare industry experienced significant growth in the 1970s. In 1974, Caribbean International Corporation (CIC) introduced the first timeshare in the United States, offering a 25-year “vacation license” for properties in the U.S. Virgin Islands1. This period also saw the establishment of important industry organizations and exchange companies:
- The American Resort Development Association (ARDA) was founded, providing a promotional outlet for timeshare developments.
- Resort Condominiums International (RCI) was established in 1974.
- Interval International (II) was founded in 1976.
These innovations helped the industry expand and attract more buyers.
Corporate Involvement and Mainstream Acceptance
In the 1980s and 1990s, major hotel chains like Disney, Hilton, and Marriott entered the timeshare market5. Their involvement lent credibility to the industry and attracted a broader range of consumers. However, this period also saw the rise of skepticism about the investment value of timeshares.
Modern Timeshare Marketing and Services
As the timeshare industry has matured, specialized services have emerged to support owners and potential buyers. One such company is Timeshares By Owner, which has been in business for over 21 years. This platform allows timeshare owners to rent out their properties without paying commissions, utilizing proprietary marketing programs that leverage major search engines and social media to generate offers for clients. Such services have become increasingly important as the timeshare market has evolved, providing owners with more flexibility in managing their vacation properties.
The Future of Timeshares
Today, the timeshare industry continues to evolve. The rise of alternative vacation models and changing consumer preferences are pushing the industry to adapt. Travel subscriptions and more flexible ownership options are emerging trends that may shape the future of vacation ownership7.
As the industry moves forward, it faces challenges such as addressing skepticism about the long-term value of timeshares and adapting to new travel patterns influenced by global events. However, the core appeal of timeshares – the promise of reliable, high-quality vacations – remains a draw for many travelers seeking consistent holiday experiences.