Further Reading

Over the period of decades the popularity of timeshares has grown by many folds so much so that over two million Americans have timeshare properties in country and out of country. But the rise of timeshare industry saw the rise in scams and frauds. More recently the timeshare industry has been plagued by unscrupulous activities of frauds and scammers. Notwithstanding these serious problems with timeshares a new breed of alternatives are emerging. One of the main reasons why people were attracted towards timeshares was that it will be an expensive affair for a big family to vacation every year at a hotel or a resort. Timeshares proved to be an economical solution to all that.

On the other hand, buying a timeshare requires a large payment upfront. A yearly fee is also required (for maintenance, property taxes, management fee, etc.). This yearly fee can range from a few hundred dollars to well over a thousand dollars. Many people have began to realize they are paying more money with less access to the property (as you will only get to use the timeshare for a week or two a year). Also, many people get bored of always going on vacation to the same place every year. To combat this sentiment, many timeshares offer an exchange program which allows owners to swap their timeshares across different locations; however, this is not easy and generally requires a monetary fee. Another problem occurs when the owner wants to sell their stake in the timeshare as they are one of the most difficult properties to sell. Many times they will have to sell the time share at a loss of around 50%-70%.

Now a new era of concepts is taking vacation industry by storm. And this era is represented by concepts such as resort memberships and condo hotels. A resort membership is a one time investment i.e. you have to pay the membership fee only once and you can enjoy the benefits of the resort life long. And what more you are not required to pay any maintenance fee or taxes. Resort memberships can cost anywhere from few grand to few hundred grand. Some resort membership may also have yearly fee. But if you do a good research there are some resorts within the range of affordability. The best deal that one can get is may be a lifetime member ship for around three grand and a limited five year membership for two grand. And the members have access to not only the resort they have membership in, but they can choose from hundreds of resorts worldwide available in the resort company's network. And there is no limit on number of times you want to go and at what time you want to go, your vacation is always assured.

Another concept that is getting popular is condo hotels which is a relatively new concept and only very few people own condos in hotels. But the concept is receiving good reviews and is gaining popularity with the time. The way it works is it allows people to buy condos in luxurious hotels and utilize the benefits of all the amenities available in the hotel. If the owner is not using the condo he can put his condo for rent and can receive percentage of the revenues it produces. A condo hotel in comparison to a timeshare offers more flexibility, is better furnished, and has better amenities, better services and many locations.