How did the “vacation ownership” concept start?
Vacation ownership Industry lore claims that timeshares originated in the 1960s as a way for skiers in the French Alps to stay at the same resort annually at the same time each year without having to purchase a condominium. It is said that the developer of this original timeshare resort apparently marketed it with the slogan, “no need to rent a room, buy the hotel – it’s cheaper!” The timeshare concept was introduced to the United States in the 1970s in Florida (the state that still boasts the greatest number of timeshare properties). Consumers at that time were facing the 1973 oil crisis that weakened the global economy and Americans were looking for ways to reduce their spending. Many potential purchasers of whole ownership vacation properties elected not to incur the expense associated with buying and maintaining a condominium that they would use only periodically. This meant that certain Florida vacation condominium developers were strapped with unsold units (sound familiar?). Cert
