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History

Vacation ownership is popularly thought to have originated in Europe in the mid 1960s at Super Devoluy, a ski resort in the French Alps. In 1969, Kauai Kailani on the island of Kauai in Hawaii became the first timeshare resort in the USA . During the ‘70s, condominium developments in Fort Lauderdale , St. Thomas and Puerto Rico introduced timeshare and by 1975 there were 45 resorts in the US and more than 10,000 owners.

However a basic flaw remained. People were unwilling to buy an inflexible product that locked them into taking their vacations at the same time and at the same place every year. That all changed when the two biggest exchange organizations - Resort Condominiums International (RCI) and Interval International (II) - were founded in 1974 and 1976 respectively.

By 1990, there were four million timeshare owners at over 2,300 resorts across the globe and the ‘90s saw wide scale expansion in every area of the industry. Eastern Europe, Asia and the Middle East became increasingly attractive as vacation destinations and experienced extensive development.

Now with an annual growth rate of over 18%, the multi-billion dollar vacation ownership industry is the fastest developing sector of the international travel and tourism industry. At more than 5,400 resorts in 95 countries, over seven million owners around the globe have invested in their future vacations at ‘today’s prices.

Why? The spectacular growth of vacation ownership is only about performance. It has met the high expectations of owners worldwide. Not once, but consistently, year after year. Owners enjoy ever improving standards of luxury, with ever increasing choices of locations and facilities. Vacation Ownership means great holidays every year. For many, many years to come!

 

At a Glimpse...

Arabian Falcon - Dubai Head Office

 

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