1. City and District Research Center of Zhongshan University, Guangzhou 510275, China;
2. Guangdong University of Business Studies, Guangzhou 510320, China
Abstract：Time sharing,known as the vacation ownership industry,is the general name for the purchase of shared recreational property for a prescribed interval of time.The timeshare industry first appeared in Europe in the 1960s.Not very long after the concept had taken hold in Europe the idea was quickly adopted in the United States.The expansion was so pronounced that in less than two decades,the timeshare industry recorded double-digit growth,which has been relatively unparalleled by other service sectors for this same period of time.
There are two main events that helped to perpetuate this extraordinary growth rate and consumer acceptance of the timeshare product.First,interval-exchange companies came in the middle of 1970s.Interval-exchange companies have made it possible for owners to vacation in various locations.Two large trading companies, RCI and Interval International,have become successful by facilitating the trading of one owner's week for someone else's week in another location.Second,the entrance of many reputable hospitality establishments such as Disney,Hilton,Hyatt,and Marriott contributed greatly to consumer's view that the timeshare industry was,and is a credible and legitimate vacation alternative.Not only did these establishments enhance the industry's image by means of their involvement,they also brought years of marketing,sale,finance,accounting, legal,and property management experience to a relatively new and growing industry.
Today,the timeshare industry has been the fastest-growing segment among the united state's hospitality and resort industries with growth each year from 1984 to the present of 14 to 17 persent.The industry has become a substantial factor in the hospitality industry,with$6billion in sales.Timesharing are adopted in China in the end of 20 century,and there are some enterprises,which operate the timeshare product.In order to guide timesharing development in our country,the author tries to survey the study on the timeshare industry, and explore some enlightenment for timesharing in our country.
