Types of timeshare certificates on the world market. Timeshare in the world
Would you like to own your own room in a luxury hotel and come there on vacation at a convenient time? Then you will be interested to know what a timeshare is, what its features are, and how it can be useful to a tourist.
The word itself timeshare arose back in the 70s of the last century, in Europe and America. Time- time, share- share, division. Accordingly, timeshare is time sharing. Its essence is simple. A company wishing to build a hotel did so at the expense of investors, who could be both individuals and companies. By investing in the construction, they became co-owners of one of the hotel or resort rooms.
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Reminds me of the system by which most apartments in new buildings are now sold, right? The only significant difference is that the number ownership time is divided into 52 periods, equal to the number of weeks in a year. In other words, you can buy ownership of the room for any week (or several) per year.
Timeshare Features
Traditionally, the minimum unit for purchase is one week. The maximum is not limited, you can buy at least the whole year. The cost of the fee depends on both the location of the room and the time of year. A week in the “high season” will cost more than in the “low season”.
You can select the holiday date immediately, or leave it “floating”, indicating only the season. In this case, you need to book a room in advance for the required dates. The rule here is “whoever got up (called) first gets the number.” Most numbers are sold using this system, with a floating date.
The concept of a timeshare has changed somewhat since its inception. Now, in order to become a participant in the program, it is not at all necessary to invest money and wait until the resort is built. On specialized sites Anyone can buy so-called points (or points), which are internal currency. You can exchange them for a stay at any of the hotels included in the system. Moreover, in this case you can buy both weeks and individual days.
The purchased number is subject to almost the same rules as when owning any other real estate. It can be sold, rented, exchanged, and even inherited. All possibilities for this must be clearly stated in the contract. In addition, depending on the share, your right to participate in the management of the hotel, being a kind of shareholder, may also be indicated there. 
Timeshare in Russia
The history of timeshare development in Russia began in the “turbulent” 90s, when the main principle of doing business was “invest less, grab more.” The consequence of this was the dissatisfaction of people who, using the services of such would-be intermediaries, overpaid several times more than the real cost of the room.
Unfortunately, the principles of many companies have not changed, so getting involved with a timeshare in Russia is not only unprofitable, but sometimes even risky. When professional scammers got down to business, the timeshare turned into a kind of scam. Many people still think that this is some kind of sophisticated deception of money from the gullible public.
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Considering the complete lack of legislative regulation on this issue, it is not surprising that reviews of timeshares are mostly negative. However, this does not prevent it from developing quite dynamically in the West. Many analysts predict that over the next 10 years, this type of club recreation will take first place among other methods of organizing leisure time.
Russians are accustomed to the fact that they can only vacation according to the principle of package holidays. A package holiday is a system in which you buy a full tour including flights, meals, accommodation and transfers. And many do not even imagine that there may be any other form of leisure management. The seemingly ease of use actually costs large overpayments for vacations. If someone is developing a tour for you, he naturally wants money for it. You have to pay for this work, and we pay money for convenience. Yes it is. How much do you pay for this convenience? Have you ever asked yourself this question? And admit it to yourself honestly: the package holiday market can be called convenient, but it definitely cannot be called safe. Why?
You will receive the answer to this question on the TV screens of Russian channels. If companies that operated under the USSR go bankrupt, then what can we say about small travel agencies that are not even licensed in Russia. When it comes to Western operators, these are completely different organizations: they have their own hotels, their own aircraft fleet, a fleet of transfer vehicles, so they make a profit from their tourism infrastructure. As for the model of operation of the domestic tourism market for package holidays, it is a tandem of tour operators and banks.
Tour operators are trying to compensate for their costs through bank loans and from year to year they are increasingly getting into credit bondage. And what happens to them next, you have repeatedly seen on TV. As for the convenience of a package holiday, one more fact should be noted here. Package holidays were convenient once upon a time, but not anymore. It was convenient at a time when modern communications, such as the Internet, for example, were not yet so developed. Using a smartphone and credit card you are able to become a tour operator yourself, and you will not need to pay extra money to someone for what you can easily do yourself, and your partner will not be a domestic company, but a hotel with assets, because tourist market Collection companies are starting to arrive in Russia. These are the companies that collect debts. Collector in this case from the word – collect, collect. These are various kinds of sites that offer hotel reservations or the purchase of air tickets. You've heard about them BOOKING, AIRBNB. Now this is still the lot of tourism gourmets who want to manage their holidays themselves and are taking their first steps from the package holiday market. Anyone who rejects the idea that a tour operator is safe, that this idea is absurd, will understand that the days of the package holiday market are becoming a thing of the past.
And against the backdrop of these two models, the collection market and the package holiday market, Timeshare is, indeed, an island of stability and reliability in the ocean of world tourism. And this island has remained modern since 1964, where BOOKING and AIRBNB took its first steps. Timeshare created the expressway back in 1974. The stability and reliability of this system is embedded in the principle of the economic model that forms the basis of Timeshare. Why is timeshare so good? It is a system that can satisfy the interests of all target audiences interested in tourism, those who do not want to make unnecessary moves when booking a vacation, and gourmets who want to travel to the farthest corners of the world.
There is a joke that a timeshare is a house on wheels. And if you read this phrase literally, then this is true. Because this is really a house, and we’ll tell you why it’s on wheels a little later, but for now let’s figure out why it’s a house. Imagine a summer house that you share with your relatives or friends and use it in turns at some time: for example, one week you use it, and the other week your friends use it. But the question is: who is the owner of this dacha if everyone takes turns relaxing in it? You may object: what difference does it make who is the owner if we have access to this dacha? The difference is that you can somehow come to the dacha, but it simply isn’t there, because the owner, for example, decided to demolish the house or sell it to someone else who will no longer have the desire to let you into this dacha, and then you will need to search new dacha.
And whether it will be good or not is still a question. But if you are the owner of a dacha, other problems arise: it needs to be maintained, cleaned, and repaired. Therefore, it causes a lot of trouble, but in reality we use it twice a week in the summer. The rest of the time she stands idle. How nice it would be if you owned the dacha only when you were on vacation, and the rest of the time it wouldn’t be yours. A magical version of ownership. And this magic is the basis of Timeshare. You are offered to buy not the dacha itself, but the time on it, say, two weeks a year - the property. Many people will think: what kind of property is this - it's a rental? And we will object; The rented premises cannot be sold, donated, bequeathed, and even less rented out: you rent it yourself, the property can only be used.
The timeshare system allows you to do this. The word Timeshare itself is English and is translated as time - time, share - share, that is, a share of time. You buy ownership of a piece of real estate for a share of time, and that share is usually one calendar week. In total, from a timeshare point of view, there are 52 weeks a year, and there are 53 technical weeks, when the resort administration carries out maintenance work on the premises. And you buy this share of time for a certain period: from 1 year to 79 years. For 79 years you can use one week a year, or maybe two or more, or buy all 52 weeks a year and then your dacha will be your property all year round. The most important factor: you buy time as property, and you have the opportunity to dispose of this time as you wish: donate, bequeath, rent and receive money for it, sell and make a profit. If you rent this premises, you will not be able to do this. Think about it: you bought a timeshare, used it about five years ago, and then sold it. It turns out that the entire time you were resting on it, you were doing it for free.
Agree, it is illogical, after living in a hotel, to ask him for money back for his stay. In the timeshare economic model, this is possible. And most importantly: all those who share time with you in the apartments at the resort will take care of it, because all of them, like you, are owners, and a good owner always takes care of his property. There is another important factor - risks. We often see on hotel avenues beautiful pictures rooms, but upon arrival we discover that everything is actually not so beautiful, and the number of rooms is not that high quality. A hotel is always a Russian roulette: we don’t know where we’ll end up: in good hotel or not, whether there will be decent numbers there or not.
Owning a timeshare, you will always know where you are going and what the apartments look like, what quality they are, and there will be no surprises. And they will really good quality. At a hotel, you can pay $200 a night and put up with some inconvenience. But when you need to pay $20,000 for a timeshare interval, the buyer will not put up with the poor quality of the apartments. The price of a timeshare is the key to its quality. Some timeshare owners complain that European resorts are not as good as Asian or Middle Eastern resorts. But you remember in what years they were built. Where new timeshare resorts are now being built, for example in Dubai, palaces are already being built. However, European timeshares have more trading power.
Trading power is the “weight” of a certificate in the global timeshare market based on consumer demand. Trading power is a shorthand term that determines the value of each timeshare. Based on consumer demand, the trading power of a timeshare determines how successfully a given timeshare can be exchanged, leased, or sold on the secondary market. But the most important thing is that at timeshare resorts, an apartment is not a hotel room, it’s an apartment, a full-fledged apartment, it has a kitchen equipped with last word appliances, utility rooms, bathroom and many bedrooms. This is not only convenient household infrastructure, compared to a hotel room it is space, a lot of space. That is, there is always a place where you can retire and drink tea. Many people worry: will they really need to cook it themselves? But first of all, maybe it's not so bad.
In addition to saving on food, you have the opportunity to eat whatever you want and the opportunity to cook for small children, which is basically impossible in a hotel room. And sometimes this can be a decisive factor for a family with small children. It's also a matter of choice. Of course, there are restaurants at the resort, and if you don’t want to cook yourself, you can get meals in restaurants, it’s a matter of choice. In a hotel you have no choice whether to cook or not. The apartments have this choice because they have a kitchen. But there are still skeptics who will say that going to the same place is not interesting, you want to see the world. And they will be right: that’s why tourism was given to people, to see the world. But, if you remember, at the very beginning we said: A timeshare is a house on wheels, it’s time to talk about these same wheels.
As for management fees, they come in several types:
The annual management fee, common in most clubs as a mandatory financial burden, you must pay annually whether you use a timeshare or not, and this is an important aspect. For failure to pay annual maintenance, membership may even be suspended. This is an analogue of a payment for utility bills, i.e. it is not even an analogue, it is a payment for utility bills.
For some, this may seem like a negative factor, bondage. But, if you use a timeshare, 300 euros per year is not that much money for real savings on vacation. If you carefully monitor your payments in the same way as you monitor your rent, there will be no problems.
For use, pay a management fee charged per year of use of the interval. This is a fairly new system for collecting management fees, it is certainly more interesting from an economic point of view, but it is not present in all resort systems, and is only now being gradually introduced at resorts.
For a point. There are timeshare systems in which there is a system of points, with the help of which you can form the housing stock you require. We'll talk about this later. Now it is important to know that there is such a fee, and if you own a points system, for each point you will have to pay a fee, and it is also annual.
Full timeshares themselves also have several forms of ownership. These forms regulate the frequency of access to the resort's guestrooms.
"Fixed"
At first, most developers sold "fixed" weekly slots, which meant that the owner occupied a specific apartment during a specific week, such as apartment #103, week 27. This is the simplest type of timeshare. It entitles you to a specific week and specific suite, usually at a specific resort, to which the owner returns again and again unless he exchanges with a resort-affiliated exchange company. This type of resort is called a “home resort.” The first advantage of a fixed timeshare is that if you know that you will use the home resort year after year on a specific week, it will always be available to you without having to make a reservation in advance.
Another advantage is that if you own a highly sought-after slot (race week in Florida, Carnival week in Venice, etc.), your timeshare will have the highest trading power. All that remains to be done is to place your Timeshare in the exchange pool and you will certainly get a great alternative. There is a misconception about fixed intervals. Some people think that if you buy such a product, you will have to go to the same place year after year. This is often not the case. But regardless of the product: fixed, floating or points, location remains the most important criterion that determines the trading strength of each specific timeshare.
"floating"
The product (or also called “flex”) allows owners to choose their week at the resort from year to year, but usually within a specific season. The owners annually reserve a time to arrive at the resort on the principle of “first come first”. At some resorts, the apartments remain unchanged, and only the dates of stay change; at others, both dates and rooms may “float”. This product is more flexible in terms of use. The floating product, like the fixed product, gives rights to one week per year, but the time of visiting the resort can be adjusted within one season. The downside to this product is that you have to book your week in advance to get what you want.
"Biennale" (every two years)
This ownership is not every year, but every other year. Basically, the cost of such a product is not 50%, but 60% of the cost of a traditional annual timeshare. 10% in this case covers the costs of management fees to development companies. Some resorts even offer ownership "every three years" ("triennial").
"Factional" ("fraction")
The product is the most expensive. The fractional product segment of the timeshare business is the fastest growing in the industry. "Factional" involves ownership for a period greater than one week per year. As a rule, this ownership is from 4 weeks per year to 3 months. 1/12, for example, entitles its owner to use the premises for one week in each of 12 months, or to use the premises for a three-week period in each of the 4 seasons. Other types of fractional product: 1/4, 1/8, 1/18. Also, a fractional product can allow owners to divide their interval into segments of 2, 3 or 4 days to form mini-vacations throughout the year. Most “urban timeshares” provide such opportunities to one degree or another. Due to the fact that the fractional product is serviced mainly by management companies, this implies impressive management fees, and often also considerable membership fees.
Given that fractional product prices start at $100,000 and can exceed $500,000, and management fees can exceed $10,000 per year, it is difficult to compare with a traditional timeshare. For the consumer who wants only the best, wants something special and has the money, fractional product offers the leisure concept of the future. Fractional resorts, condo hotels, hotel residences, and private residence clubs (PRCs) are seriously affecting two areas: the leisure industry and the real estate industry.
Condo hotels are becoming a popular alternative to traditional vacation rentals and essentially provide a second home for families. The consumer purchases a luxury apartment at a fixed price, pays monthly management fees for room maintenance and infrastructure, and uses it whenever he wants without the need for a reservation.
Hotel residences and PRCs, such as Trump International in Chicago and Hotel Mandarin Oriental in New York, can hardly be called a timeshare; they are second homes.
Condo hotels, hotel residences and private club residences are much more of a real estate investment than a traditional timeshare. They are positioned as an investment in leisure, not real estate. Although the Fractional product allows for exchange, most owners prefer to purchase locations in which they want to stay permanently, unlike timeshare owners who consider the ability to exchange their vacation one of the main advantages of this system.
According to 2005 data, consumer satisfaction with a traditional timeshare product is 85%, satisfaction with a fractional one is estimated at 96%.
A fractional product can be with or without ownership of real estate.
Accommodation according to the fractional product can be either in timeshare apartments, equipped with great amenities, or in super-luxury rooms of upscale hotels, which are mainly located in large cities (urban timeshare).
As of 2004, there are 151 resorts in the world that offer fractionated products, with 132 resorts in the United States. This number does not include separate houses and small condominiums also available on a fractional basis.
Almost 50% of fractional resorts are ski resorts, 30% of resorts are beach resorts, the remaining 20% are golf resorts and “urban timeshare”.
"Private Residence Club" (PRC).
This fractional product is in the “ultra-luxury” category. These resorts are located in the most desirable locations. This product often includes a personal vehicle, a personal chef, and 24-hour personal service. Consumers of the PRC product are wealthy people who do not try to save their money in any way.
Average cost of fractional product (2005):
Comparative table of traditional timeshare and fractional product for 2005:
| Traditional Timeshare | Fractional product |
| Average cost $13,500, average cost of management fees $500. | Starts at $100,000, management fees can exceed $10,000. |
| Division of property with 51 co-owners. | Division of ownership, usually with 11 co-owners. |
| More comfortable than a hotel room, with more space and a kitchen. | Luxury apartments, more reminiscent of a private home. |
| Proficiency in 1 or 2 week slots per year. | Possession from 4 weeks to 4 months a year. |
| More than 6,000 timeshare resorts around the world. | A limited number of resorts united on the basis of exclusivity. |
| Banks do not lend to Timeshare at mortgage rates, the consumer has to use credit programs that involve high interest rates, on average 16% per annum (USA)Banks do not lend to Timeshare at mortgage rates, the consumer has to use credit programs that involve high interest rates, on average 16% per annum (USA) | More and more banks are beginning to perceive the essence of the fractional product as a second home and provide attractive lending conditions. |
| A timeshare can increase in value over time. It is possible to sell your timeshare after 10 years for the same price you paid for it. | Much more attractive from the point of view of real estate investment than a timeshare, but still not as a main home. |
| Limited opportunities for sports activities, meals in several restaurants, transfers to attractions, shopping centers, etc. | Unlimited possibilities available service. From pre-lubricating your skis to using private jets and yachts. |
| It is purchased, as a rule, taking into account the possibility of exchange for other locations and the opportunity to visit | It is purchased, as a rule, for use in a specific desired location. |
"Points"
Used as a “currency” to select accommodations at resorts. Some points programs are limited to use at one resort, while others allow you to select within a club or developer network through internal exchange programs.
The purpose of developing a points product is to allow the consumer greater flexibility in using a resort than with a traditional fixed week purchase. Points are used to pay for accommodation in accordance with the location of the resort, the size of the apartments and demand, which is based on days of the week and seasonality. For example, the owner of a certain number of points can choose either a studio that is in great demand for a three-day weekend dedicated to a holiday, or an apartment with three bedrooms for up to 2 weeks during “quiet” times, when there is no rush for accommodation , at the same cost. Many clubs use points, and some timeshare developers have developed points programs tied to the base value of a traditional fixed product.
In a points product, each week owned by someone is tied to a certain number of points. This number is determined based on criteria: type of apartment, resort rating, season, etc. In most cases, ownership of the resort facilities represented by the points product is in trust management developer, not owner.
The biggest advantage of a points product is the ability to use it outside of the standard week. You can use 2-3 day intervals for rest. Points can sometimes be used to pay for airfare, car rentals, cruises, hotels, and even theme parks.
The biggest disadvantage is that the points product, unlike the classic timeshare, is most often not protected from inflation.
"Club"
Vacation club is a membership, but without ownership rights. It typically involves multiple locations and may include other leisure products and services. The clubs offer clients who expect to secure holidays at attractive prices in the future the opportunity to purchase and satisfy their tourism needs “in one window.”
For many consumers, the “Club” product is an alternative to hotel accommodation, but without the hassle and obligations, including financial ones, that owning a “classic” timeshare usually involves. And this is the main advantage that “clubs” use to sell their product, offering consumers accommodation in timeshare apartments, but without long-term obligations to pay management fees and many years of operation with all the encumbrances. Also, membership in the club is more affordable than the price of a timeshare certificate, which is many times higher for obvious reasons. Essentially, paying a one-time membership fee provides accommodation for one, two, three or four weeks a year at an attractive price. Typically, purchasing a membership gives you the opportunity to use the services of a travel agency that provides discounts on flights, hotel accommodations, cruises, package holidays and more for club members. Club membership extends to family members and can also be bequeathed.
Example: In 2005, in Florida, it was possible to purchase a “club” membership for 10 years with the opportunity to stay in a timeshare apartment:
For 4 weeks a year for $4,995.
For 2 weeks a year for $3,995.
For 1 week a year for $2,995.
In all cases, the annual membership fee is $149,
The average cost of a week's accommodation when purchasing a membership was $500, and the consumer also received discounts on other travel products.
Comparative table of economic costs for hotel accommodation when purchasing a club product for 10 years.
Annual inflation is set at 10%. The basis is the basic cost of hotel accommodation - $100 per day with an 8% tax. Using the example of a 2-week vacation in 2005 in Florida.
| Hotel/tax | "Club" holiday |
| Year 1 $1,400/$112 | $3 995/$1 000 |
| Year 2 $1,540/$123 | 0/$1 100 |
| Year 3 $1,694/$135 | 0/$1 210 |
| Year 4 $1,863/$149 | 0/$1 331 |
| Year 5 $2,049/$163 | 0/$1 464 |
| Year 6 $2,253/$180 | 0/$1 464 |
| Year 7 $2,478/$198 | 0/$1 771 |
| Year 8 $2,725/$218 | 0/$1 948 |
| Year 9 $2,997/$239 | 0/$2 143 |
| Year 10 $3,296/$263 | 0/$2 357 |
| Total: $22,295/$1,780 | $3 995/$15 934 |
| Total: $24,075 | $19 929 |
The next most important standard is the season. Depending on which season you choose, this is the time of year you can come to the resort, and this is very important. Because in tourism industry peak dates such as Christmas, for example, can cost twice as much. In a timeshare, this price does not change for the owner. There are other seasons - middle and low, there are three of them: “peak season”, “middle season”, “low season”. Moreover, summer in our understanding, namely June, July and August, does not form the “peak season” in all countries. In Thailand, Vietnam and India, the “peak season” is from December to March. There are places where the weather is favorable all year round: Canary Islands(Tenerife island) is a unique place in terms of climate. There the temperature is almost always the same all year round - within 25 degrees Celsius. Therefore, there is a “peak season” all year round. Finland, on the contrary, is famous for its winter resorts, which means that its “peak season” is in winter.
Often, “peak seasons” are tied to both transnational holidays: Christmas, New Year, and local national and religious holidays. The tourism business has solved this problem simply for itself: every tourist, leaving for a particular country, knows in advance what season he is traveling in, and accordingly pays for his tour at a price that corresponds to a particular season. A timeshare is deprived of such privileges; the concept of a timeshare is property, it is bought once. To solve such problems, a seasonal standardization system was introduced. Conventionally, they are divided into three main positions: “high”, “medium”, “low”. Moreover, if a club member’s certificate says “high season,” this does not mean that he can use his membership only during “peak seasons.” " High season"implies the use of a timeshare all year round, regardless of the time of year and holidays. "Peak season" is generally any time of year that is not peak season. And the last one - “low season” - is the season of the most unpopular time of the year, when tourist activity in the resort region is very low or weather conditions, or for religious reasons. If we translate this roughly into seasons Russian Federation, then we can conditionally determine that the “low season” is winter. Exchange systems do not use the concept of “high”, “medium” and “low” seasons. They designate these periods with colors: “red”, “yellow”, “green”, “blue” and “white”. Although it is not uncommon for seasons in certificates to be designated precisely by classification: “high”, “medium” and “low” seasons. This generally refers to floating memberships that do not have a sequential number in the year. That is, the period for choosing a holiday date is limited only by the season, and not by week numbers.
Super High – (super high) RED
One of the most visited and expensive seasons is indicated in red. This means the possibility of visiting resorts all year round, but also during holidays and Christmas weeks. This is the highest tier of membership pricing and the highest priced season type.
High – (high) RED
The most visited and expensive season is indicated in red in the timeshare. This also means that the user can relax with his membership all year round, regardless of the seasons and other components that affect attendance: secular or religious holidays, features of the resorts (ski, golf clubs, etc.). High – (high) RED (red) - the opportunity to visit resorts all year round, including on holidays. And this is the highest tier of membership pricing and one of the highest priced season types.
Middle – (middle) YELLOW, WHITE (yellow, white).
If we conditionally shift this classification to climate map Russian Federation, we can say that it is spring, autumn and winter, because summer is the most favorable season in Russia. In Timeshare it is presented in two colors: yellow and white. They are absolutely the same and no different, it’s just that some resorts designate their middle season with one color or another. But they exist legally and are described in certificates: Middle - (middle) YELLOW, WHITE - (yellow, white) (the ability to visit resorts at any time, except for the peak season and holiday weeks, conventional climatic designation: autumn, winter, spring) are designated by two colors - yellow and white, with no differences. And this is the average price level of membership, that is, the average price type of season.
Low – (low) BLUE (blue)
The lowest season with the minimum load of tourists in the region - visits during the peak season are excluded. If we conditionally transfer this classification to the climate map of the Russian Federation, we can say that these are autumn and winter, because summer is rather the most favorable season in Russia. In timeshares it is represented in blue. They are absolutely the same and no different, it’s just that some resorts designate their low season with one color or another. But they exist legally and are described in certificates. Low – (low) BLUE (blue), the opportunity to visit resorts during the lowest tourist activity, visits during the peak season are excluded, conventional climatic designation: autumn, winter is indicated in blue. And this is the lowest tier of membership pricing, the lowest priced season type.
The next important timeshare classifier is the type of apartment. Apartments in the timeshare system are not hotel rooms in the usual sense, but full-fledged apartments that have a lot: a kitchen equipped with household appliances, as well as all the other attributes of a home apartment; this, in essence, is the ideology of timeshare. In classic tourism, accommodation is paid for each person, and this does not suit a timeshare from the point of view that it is not a tour that is being sold, but property for a family, but a family can be two, four, or ten people. Therefore, in addition to the pricing policy, a number of Timeshare standards also include a restriction of users per period of time in the apartments. There is the following classification of apartments:
(Studio), “studio” (one-room apartment)– the room is a kitchen combined with a hall (similar to Russian one-room apartments, only without a wall between the kitchen and the room). In a timeshare, in addition to determining the type of premises, this also means that up to two people can live there at the same time during the holiday period. If the owner’s certificate says that his apartment type is T0 – (Studio), this means that only one to two people can use it. If three vacationers arrive using such a certificate, the third will either be denied accommodation or will be offered to pay for the accommodation of a third person.
T0 – (studio) “studio” (one-room apartment) - accommodation for only one to two people. And this is the lowest level of membership pricing, the cheapest type of apartment.
(One bedroom), “van bedroom” (two-room apartment)– the premises consist of a kitchen, a hall and one bedroom (similar to Russian two-room apartments). In a timeshare, in addition to defining the type of premises, this also means that from one to four people can live in the premises at the same time during the holiday period. If the owner’s certificate says that his apartment type is T1 – (One bedroom), this means that only one to four people can use it. If one or four vacationers arrive using such a certificate, they will easily be accommodated at the resort, but if there are already five of them, then the fifth person will either be denied accommodation or will be offered to pay for the accommodation of the fifth person.
T1 – (one bedroom) “van bedroom” (two-room apartment) - accommodates only one to four people. And this is the average level of membership pricing, the average priced type of apartment.
(Two bedrooms), “that bedroom” (three-room apartment)– the premises consist of a kitchen, a hall and two bedrooms (similar to Russian three-room apartments). In a timeshare, in addition to defining the type of premises, this also means that from one to six people can live in the premises at the same time during the holiday period. If the owner’s certificate says that his apartment type is T2 – (Two bedrooms), this means that only one to six people can travel there. If one or six vacationers arrive using such a certificate, they will easily be accommodated at the resort, but if there are already seven of them, then the seventh will either be denied accommodation or will be offered to pay for the accommodation of the seventh person.
(President) "president". The prefix “P”, as a rule, comes with the type of apartment and speaks about their quality and nothing more, and the types T1 and T0 cannot be with the prefix “P”. As a rule, only T2 apartments have this quality, so if the certificate says T2P, you should understand that these are apartments with the attributes of T2, but with improved comfort and quality of finishing. This does not affect the number of people - from one to six people can visit the resort at the same time.
R – (president) “president”. A prefix to the type of apartment of the highest price category with improved comfort. And this is the highest level of membership pricing, the highest priced type of apartment.
And the last classifier is the star rating of the resort, you have already encountered this more than once, so you will most likely know this. The classification of a hotel (resort) determines the place of a particular hotel in the market hotel services, makes it easier for clients and specialists to get an idea of the guaranteed range of services that can be provided by a hotel of a certain class. Hotels are classified based on their certification, which can be carried out both nationally and internationally.
The class of the resort is never described in the certificate, information about this can only be obtained in the charter of the resort, this attribute relates directly to the resort itself, and the level of the resort is never taken into account in the exchange. This is not an attribute on which the exchange is made, this attribute is only taken into account when pricing the membership itself.
The most common classification systems are:
A European classification system based on the French national classification system, which is based on the division of hotels into categories of one out of five stars. The star rating is directly proportional to the maximum level of comfort that the hotel is able to provide to its clients. This system is used in France, Austria, Hungary, Egypt, China, Russia, Brazil and a number of other countries:
Three star hotel.
This is the most common type of hotel. The room of such a hotel should have all the amenities: telephone, TV, possibly a minibar. The rooms are single and double, both with one large bed and with separate beds. There are triple rooms for parents with a child: usually a double room with an extra bed or a folding sofa. Hotel service various countries the world can differ significantly from each other. For example, in Europe, a three-star hotel has fewer services than a Greek three-star hotel. They have certain patterns: usually the higher the comfort and the more provided additional services, the further from the center the hotel is located.
Four star hotel.
Hotels with high level services designed for people whose earnings are average or above average by European standards. A four-star hotel is distinguished by an increased level of comfort and a convenient location; it can be located in the city center or on the first line of the beach. There must be a guarded parking lot. U big hotels We have our own taxis and minibuses. This category includes many additional free services, the ability to use gyms, courts, and swimming pools, and various hotel shows, such as discos. In a four-star hotel, the room is furnished like an ordinary living room with standard household appliances: color TV with remote control, refrigerator, minibar, air conditioning, security system, mini-safe, and always a telephone with intercity access. Some hotels provide a heat press for ironing and have a remote light control system. In such hotels you can book both a standard single or double room, as well as rooms with an improved layout, which includes not only a bedroom, but also a living room or kitchen.
Five star hotel.
small town with all the infrastructure necessary for life. The hotels have several restaurants (with European and national cuisine), bars, night club and shops. As well as hairdressers and laundries, fitness and business centers, swimming pools and beauty salons. The rooms in them are very different: from single rooms with one bed to multi-room apartments. The most modest room in a five-star hotel is a single room with one double bed. Next come the doubles, they come in two varieties: with two beds or with one large bed. Higher in rank is the double room, which can be two floors, usually with a bedroom or bedrooms above. There are bunk rooms, including 2-3 bedrooms, a couple of living rooms and offices, and rooms for servants or security. For business people, some five-star hotels have business rooms with multi-line telephone, computer, fax and meeting room. Any room in a five-star hotel should have a full set of necessary cosmetics in the bathroom, slippers in front of the bed, a minibar, telephone, color TV, air conditioning and other luxuries that make life easier.
A letter classification system is used in Greece (although you can also see the usual stars on the facades of hotels.) According to this system, all hotels are divided into four categories: A, B, C, D. The highest category of hotels is designated de luxe and corresponds to the five-star level, hotels of category A – four-star level, B – three-star, C – two-star, D – one-star hotel level.
The category system is typical for Italy and Spain. In Italy, hotels are classified into three categories: the first category can be conditionally classified as four-star, the second - three-star, and the third - two-star.
The crown system is common in Great Britain. To go to standard stars, you need to subtract one from the total number of crowns, i.e. in comparison with the pan-European star, the crown is one unit higher:
Silver crown - SC.
Silver Crown resorts are resorts with an average optimal level of service. This is the average level of membership pricing, the average price level of the resort.
Bronze crown - BC
Bronze Crown resorts are resorts lower level. This is the lowest tier of membership pricing, the lowest resort tier.
Today it is already possible to objectively talk about the advantages and disadvantages of a timeshare, based on real experience timeshare sales over the past 30 years.
The timeshare system is for life and is inherited. Once the client and his children invest money, they use it forever. Owning club weeks is an indicator of financial solvency and a guarantee that your holiday neighbors will be worthy people. Of course, this is one of the advantages/
Possibility of using the services of RCI and RCI Travel - a division that will provide services for purchasing tickets, obtaining visas and insurance, and booking cars. There is a system of discounts for air travel. Usually clubs provide free transfer. The opportunity to relax in almost any part of the world.
A membership certificate that eliminates the hassle of obtaining a visa. Club members are spared the need to think every year about which travel agency to choose; they are not tormented by doubts about its reliability. Everything is predetermined.
Owners of club holidays purchase weeks in the club that best suits them in terms of location, living conditions and comfort. Using the exchange system, you can visit any of the 5,000 resorts in other countries.
Payment for purchased weeks is most often made by 100% prepayment. But there is also an installment plan of up to 18 months. Initially, an entrance fee is paid, then annual membership fees must be paid: regardless of whether the client has taken advantage of the trip or not. Food, air tickets, visas, health insurance, the visa fee must be paid separately.
But, like any system, timeshare also has its drawbacks. The most significant disadvantage of such a system is the large initial investment. The next problem that a club member faces is purchasing a so-called transport package, which includes tickets, visas, insurance, transfers, and meals. Regular tour operator will not provide such services - it works on a different system and organizes the entire vacation, and not its individual parts. Thus, a club member either independently purchases air tickets, obtains a visa, takes out insurance, resolves the issue of food on the spot, or turns to companies specializing in the sale of transport packages. This may or may not be beneficial.
Abuse is possible on the part of the seller who provides false information about the conditions of recreation. The full time for completing a transaction takes on average two to three months, which is associated with the need to issue club certificates, enter new owners into the register and legal registration of all documents.
When holidaying in club apartments, it is advisable to plan your trips in advance, although you can also take advantage of “last minute holidays”, which, in addition, can allow you to get much more attractive accommodation options. Another advantage is the fact that some large hotel chains, such as Marriott, Hilton, Hyatt, Radisson, cooperate with RCI and club week owners can take advantage of their services.
Of course, everyone chooses for themselves: some people like this type of recreation system, others regret their purchase and want to sell their “right to rest.” Unfortunately, this is quite difficult. In Russia, the secondary timeshare market is poorly developed. Things are no better abroad. In any case, it is almost impossible to receive the same amount upon resale that was paid when purchasing a timeshare.
In countries that respect laws, club activities are regulated. The first piece of legislation on this matter was signed by Her Majesty Queen Elizabeth II on March 16, 1992. The United States, France, Germany and other law-abiding countries followed. Timeshare in foreign countries- legal category. Unfortunately, in Russia there is no such law yet.
Who knows what a timeshare is?
That's right, literally - division of time. Organization of recreation in the RCI (Resort Condominium International) or II (Interval International) system, which involves about three thousand clubs in more than 70 countries around the world.
Timeshare sounds great
The idea is this: you buy luxury apartments in a beautiful resort and own them from one to 51 weeks a year. And you get the right to exchange these weeks of rest for others anywhere in the world. And all this for mere pennies compared to the cost of real estate in the same resort. Just a few thousand dollars for the right to lifelong, inheritable ownership of the apartments! In addition, this happiness can be sold, exchanged, rented out, bequeathed, etc. at any time.
Did you like it? Do you want to live like the characters in Santa Barbara? Do you want to invest your money profitably? Let's get more of them here. We will arrange everything for you! - this is promised at almost all presentations of companies offering to buy a timeshare.
There were several dozen such firms in Moscow. IN Lately Having practically exhausted the supply of Muscovites capable of “buying” into these promises, such companies turned their attention to the regions: the first transactions were registered in Yekaterinburg, Rostov, and Krasnoyarsk.
Let's try together to understand what this system is and how it works.
Natural selection
If you put on your best outfit, parade in it in a crowded, prestigious place (large department stores, lobbies of expensive hotels) and give the impression of a successful person, then it is possible that a pretty girl or boy will approach you with a notepad. In a light, casual conversation, you will be asked to answer a few questions and fill out a questionnaire. After which they will offer to attend the company’s presentation, promising something amazing. They will ask you to come together - with your wife (husband) or with a girlfriend (boyfriend).
It was you who met with the “external representative” of the company. When selecting them, preference is given to students of humanities universities (journalism, law, VGIK, etc.). For 3-4 hours of “catching clients,” young people receive $5 and from 0.25 to 1% of the contract amount, if it is concluded.
At the presentation
Presentations most often take place in expensive hotels or luxury offices. When you arrive there, another employee of the company talks with you for an hour and a half. This is an “internal representative” - he has no right to talk about prices, but only “warms up” you for the manager. He earns the same amount as an "external representative", but before he is hired for this job, he must pass an exam.
ConfOP employees managed to obtain an interesting internal document from one of the companies selling timeshare: instructions from an “internal representative.” This secret document is called “Representative Training” and is something between instructions for putting a client into a trance state and a treatise on communication ethics. The employee must memorize the text.
Here are some of its fragments.
Make sure you (representative - V.K.) are either next to them or ahead of them... This is part of your control over them (clients - V.K.). You should act like a friend who is about to show them your house and explain how great it is...
Controlling your clients is an integral part of your job. You must control your clients from the first minute you meet them. You need to create an easy psychological and physical dominance. Control where they sit, what they touch, what they look at, what and when they eat or drink. Some people are trying to take control of you, don't let them do this... Some may say they only want to see apartments and prices... Some may say they are not interested. Ignore this and continue with the presentation...
The best way to make people relax is to make them laugh... Laughing makes people feel good, they do things they wouldn't normally do. This may set them up to rest...
You must sell them a DREAM... Create this dream for them, color the picture...
Paint them a picture, make them trust you, you have to put them in the picture... let them be on the golf course, in the hot tub, in the pool or on the ski lift. Find their hot spot, keep asking questions, pressing buttons until you find the right one. Their hot spots and fun attitude are what sell...
Our task as sellers is very simple - we just need to find out what our customers want, and then convince them that our product is what they want...
Touch is your tool. Touch both clients frequently...
This job is not easy... THAT'S WHY THIS JOB PAYS SO WELL...
Did you feel like dough from which you can make Easter cakes? No? You are a strong person...
When “the cake is ready,” the manager comes up to you and gives you papers to sign.
The firm's manager is paid from $500 to $1,500 monthly, plus $500 quarterly to maintain “working shape.” The manager - a "white collar" - must carry out the final "fine-tuning" as quickly as possible. He accepts money from you.
Not a single document describes your apartment. What for? Don't you trust our company? We showed you films and prospectuses. Don't you want to relax like all the rich people? You may not have enough money? It doesn’t matter - you can always sell your timeshare, we will be happy to buy it. And please, hurry up, we are closing soon, and we will resolve all your issues tomorrow, if, of course, you make an advance payment today. Tomorrow it will cost 20% more. Handle? Please! All! The contract is signed!
The morning is wiser than the evening
The applicant is bound by the provisions of the club's constitution, regardless of whether he has read its contents... At one of the presentations, I suggested that the manager take the money in an envelope - without counting it. I didn't take it.
"In case of contradictions between Russian and English texts of the agreement, the English text shall prevail." Thank you for not offering to sign the agreement in Chinese.
"This contract cannot be canceled." Did we promise to buy a timeshare from you at any time? Our intern gave you the wrong information, there was a mistake.
"All oral representations are null and void." Remember: "Don't you trust our company?"
"The parties irrevocably submit to the exclusive jurisdiction of the Isle of Man." How long has it been since you last looked there?
"All disputes and disagreements... shall be governed by arbitration. The arbitration shall be held at the International Chamber of Commerce in Paris, France." Do you like to feel like a subject of private international law?
For any lawyer, such an agreement causes a slight toothache - many of its terms are contrary to our legislation. From a legal point of view, you, as a timeshare owner, are as far from the owner of a resort as a patient of an ordinary sanatorium. After all, you cannot allocate your share in NATURE and dispose of it at your own discretion. It is impossible to prove this to the company's employees - they do not understand (or pretend not to understand) the legal terms, or simply “ignore it and continue the presentation.”
But the most important thing is that not a single company gives any guarantees of the quality of services: “the best guarantee is the good name of the company” (and you hear it for the first time at the presentation).
The vast majority of clients who bought a timeshare try to return the advance payment. And I must say, not without success. Behind Last year Dozens of statements of claim have been filed in court and almost all cases have been won. But it is difficult to predict how events will develop outside the walls of the capital, where firms will go, hardened in battles with Moscow lawyers.
You still bought a timeshare...
But in fact, what will happen if you pay for the timeshare in full and try to exercise your right to vacation? What's there at the resort?
Here are a few excerpts from letters from citizens who experienced the “delights” of the promised fairy-tale life:©
“After shivering all night in the apartment (the heating didn’t work), we decided to figure out where we were. There was dust, dirt, and the noise of construction vehicles all around (it turned out that renovations were underway).”
"The apartments have worn-out furniture, threadbare, unkempt carpets..."
"There was no air conditioning in the apartment."
“There was no restaurant or any organized catering at all, the hotel was in the mountains - and it was impossible to buy food without a car.”
“Full-scale construction was going on 25-30 meters from the hotel, noise, dirt; the premises were cleaned once a week.”
"All restaurants and cafes in the area are closed before the start of the holiday season, sports grounds, swimming pool, boat stations are only in the long-term plans of the club owner.”
“Hot water and electricity are strictly metered, the economy regime is taken to the limit, the use of water from sea horizons makes it unsuitable not only for drinking or washing dishes, but also causes allergies.”
“The resort is located 350 km from the airport, and a taxi there costs $260.”
“I have visited many resorts, but I have never seen such horror anywhere.”
And now the question is: what would you do if you found yourself in Moscow after this?
That's right, we should go to the company to terminate the contract.
Here is the company's response in full:
“The company, in accordance with the contract, fulfilled its obligations by providing a vacation certificate for membership in the club... The conditions for the further sale of membership are not within the competence of the company and are not the subject of the contract concluded between the company and the client.”
What to do next?
Read the legislation of the Isle of Man...
To be fair, it should be noted that there were also positive responses. Some clients were satisfied with their vacation in the first year. But by the beginning of the next holiday season, they began to receive bills for colossal sums: for the renovation of apartments, for their maintenance in the off-season, and sometimes for restoration after natural disasters. Having paid these bills, the owners forever gave up the idea of selling their timeshare - it began to cost such crazy money that it is unlikely that they will be able to find a buyer.
To have or not to have
The RCI system actually exists in many countries around the world, and it is possible that someone somewhere has managed to take advantage of its benefits. But in the Russian market, unfortunately, timeshare has not proven itself to be the best.
What are the main visible reasons for this? Why has a generally good idea acquired such ugly forms in our market?
The system has existed in the world for about 60 years. Naturally, a whole sea of low-liquid offers has formed on the timeshare market. Some of them were sold by dissatisfied customers - for example, due to insufficient good location resort or because of not the best attitude towards clients of the administration. Some resorts fell into disrepair due to natural wear and tear. And some are under construction and the infrastructure there has not yet been developed.
And now all these illiquid assets poured into our market. If we multiply this by the usual Russian attitude towards business, the situation in the club system will become more clear. For example, 60% of Moscow companies selling timeshares have already died. Where the clubs' money went remains a mystery. Some companies constantly change their names, while cutting off dissatisfied customers. Thus, the Paradise company was revived under the name Paradise Group, then Paradise Gift... And although legally these are completely different companies, consumers say that the same people work there.
One thing is clear: buying a timeshare in Russia in the near future means taking a very big risk.
Aparthotels- tourist complexes with developed infrastructure (reception, bar, restaurant, swimming pool, gym, playgrounds, etc.) and differ from hotels in that they consist of apartments instead of traditional hotel rooms.
Apartments- V Western Europe- apartment in a private multi-apartment residential or tourist complex. Distinguish Various types apartments by size and number of bedrooms. In tourism, the characteristics of apartments are maximum capacity and comfort, which are usually indicated in parentheses through a fraction (Note: 1-Bed (4\2) - apartments with one bedroom and a maximum capacity of 4 people, and comfort of 2 people). Apartments differ from a hotel room in the presence of a kitchen (minimum or full)
Timeshare- a form of ownership of property in the form of apartments within an aparthotel complex or the right to perpetual exclusive use of apartments on the basis of time division for a period that is a multiple of a week in each calendar year. A unique and attractive part of the program is the exchange of timeshares through an independent exchange company.
Week of rest- a minimum period of residence in the apartments of the aparthotel complex, which can be purchased for perpetual ownership under the timeshare program. There is no limit to the number of weeks of timeshare that one buyer can purchase.
Floating Possession- the buyer, when purchasing a timeshare, is determined only by the specific size and type of apartment, the number of vacation weeks purchased and the season. As part of his season, the timeshare owner can book accommodation in a specified apartment size on different dates. (Note: One year you go in June, and the next year in September or again in June.) You just need to inform the club in advance and book an apartment for specific dates according to the day of arrival. There are no surcharges for changing the dates of the planned trip, and there are no restrictions within the season. Ideal for people whose vacations are always at different times or on a staggered schedule.
Points- a type of timeshare. The purchased property is valued in balls (points), with which the owner, as it were, pays for each individual order. A very flexible system that allows you to choose and vary, as needed, different sizes of apartments for each trip, divide a week’s vacation into weekend trips, book a ten-day vacation, and much more.
Timeshare owner- an individual or legal entity who purchased or otherwise received a timeshare. A distinction is made between a “Principal Owner” and “Co-Owners,” where the “Principal Owner” is the person listed first on the membership documents (timeshare ownership documents), including the timeshare certificate. No more than 4 people can own a timeshare at the same time. The “Main Owner” and “Co-Owners” have absolutely equal rights. However, the certificate only shows the address of the “Principal Owner” and all member correspondence is sent to this address.
Multiclub- an association of resorts that usually have one Founder. Clubs can be located in the same or in different regions and even in different countries. There are multiclubs that unite only three resorts, and there are associations of more than two hundred resorts. The type of ownership in a multiclub is always floating. A club member has the right to choose, within the framework of his season and the size and type of apartment, not only different times for rest, but also a place for rest. (Note: One year go on holiday in July on the Costa del Sol, and the next year on New Year in Tenerife, and the third year - to England in May, etc.) Choosing a holiday destination does not require additional payments and is sometimes called a “free internal exchange”. It is considered an advantage that money is saved on the exchange. Membership in a multiclub does not exclude the possibility of EXCHANGE through an independent exchange company. However, such an attractive membership is not suitable for those who would like to have a guaranteed place and time of relaxation.
Certificate- a document confirming the rights of the timeshare owner, a certificate of ownership. The document describes the owner's property: the name of the club, the size of the apartments, the number and numbers of weeks, the date of registration of membership and issue of the certificate, its number, as well as the owner's details, including his address and co-owners. For points-based timeshares, the certificate states how many points are in the owner's possession. The reverse side of the certificate is an act of transfer of membership rights and is completed only if the owner intends to assign his rights (sell, gift, etc.) to another person or persons. Keep your membership certificate in a safe place.
Founder of the resort- an organization, a legal entity, or less often a private person, which is the original developer of the resort, the owner of the land and buildings that make up the recreation complex. The developer of a timeshare complex, before signing an agreement with the exchange company and entering his complex into their exchange system, is required to complete a number of legal actions. These actions are aimed at ensuring subsequent legal protection for club members (timeshare owners), such as: registration of the Club Charter, transfer of constituent documents, including deeds to land and buildings to an independent Trustee, etc. The founder hires an independent marketing company or sometimes creates own, but necessarily financially and legally independent from the club itself.
Trustee- (most often a Trust (Hutchinson & Co Trust Company www.hutchtrust.co.uk, First National Trustee Company www.fntc.com) or a Notary) in most European countries a mandatory, independent legal structure designed to maintain legality and consistency within the club while protecting the interests of both the founder and timeshare owners. The duties of the Trustee include: Encumbrance and trusteeship of all constituent documents of the resort; Creation of the Club Charter and control over its compliance; Creation and maintenance of a register of club members (timeshare owners); Assigning and assigning property to them in the form of weeks and points; Issuance of documents confirming timeshare ownership (membership certificates); Re-registration of membership from one person to another during resale, gift, inheritance, etc.; Maintaining special notary accounts of the club (escrow), where the timeshare buyer can transfer funds if he does not trust to pay either the marketing company or the founder.
Management Company - a hired organization whose responsibilities include the daily management of the resort, maintenance and upkeep of the apartments and the entire infrastructure of the complex. Initially, the founder of the resort selects and hires the management company. Subsequently, the club committee can extend the contract for managing the club or provide it to another management company, having secured a majority vote of the ordinary members of the club at the annual general meeting. The management company hires and fires resort employees, draws up and distributes the budget for the maintenance of the complex, makes reservations for accommodation in clubs with floating ownership or a points system, sends out invoices for membership fees, and monitors their timely payment.
Marketing company- a legal entity authorized by the founder to sell his timeshares and to carry out any kind of marketing activities for this purpose. Most often, marketing companies conduct individual or collective presentations to sell timeshares, during which they explain the features, principles of operation and advantages of a timeshare for several hours and offer to make a purchase using special presentation offers. The responsibility of the marketing company to the timeshare buyer includes reliable information about the subject and conditions of purchase, timely translation Money the buyer to the account of the trustee or founder minus their commissions, as well as providing the buyer with original membership documents confirming the fact of acquisition in accordance with current legislation (including the issuance of a membership certificate), as well as cards of the exchange company. After issuing all of the above documents, the marketing company’s obligations to the buyer are considered fulfilled. However, due to Russian specifics, many marketing companies provide additional related services that the timeshare owner can receive independently (such as booking accommodation, air travel, visas and insurance). There are marketing companies that work under an agreement with the founder on the territory of the resort, and those that work outside of it, including in other countries.
Timeshare resale agencies- an independent legal entity whose goal is to make profit from purchase and sale transactions between ordinary club members (timeshare owners). In essence, the activity is identical to real estate agencies. With one difference, it does not organize viewings of apartments for the buyer. This is due to the fact that usually the potential buyer has already been and vacationed at a particular resort or owns a week or points there. Resale agencies do not make presentations and do not own primary sales technologies, but work exclusively with buyers who are well aware of the timeshare system. Having accepted an application from a potential seller and agreed with him on the terms of sale, they add this offer to their list and strive to attract potential buyers through the media (newspapers, magazines, Internet, television). The current trend is the creation of Timeshare Online Stores and participation in travel TV channels. (www.timeshare-magazin.ru) A resale agency can provide services for re-registration of membership documents (certificates) in the relevant authorities or simply represent the seller to the buyer.
Exchange company- an organization that exchanges timeshare weeks between club members. They provide owners with the opportunity to exchange their timeshare for another - for another time, place or both at the same time. The exchange company guarantees the same level of resorts included in a single catalog of resorts. The two largest exchange companies are Resort Condominiums International (RCI www.rci.com) and Interval International (II www.intervalworld.com). Almost all resorts belong to one of these two organizations. However, there are exchange companies that allow exchange between owners of any timeshare (Dial-n-Exchange and Timeshare-Obmen.Ru www.timeshare-obmen.ru)
Benefits of a timeshare
Disadvantages of a timeshare
The bad reputation of timeshare all over the world is due to the fact that providers of these services offer projects at inflated prices, often use aggressive sales methods, and lure money out by providing false information about the possible use of the property and the amount of fees for its maintenance. Timeshare is difficult to use as
