|Description||Interest||Typical Setting||Ownership Structure||Quality|
|TIMESHARE||It is defined as a right, shared with other owners, to occupy a property for a period of time (usually seven days) on a regular basis. Often seen as an annual holiday solution enabling consumers to return to their home resort or travel worldwide via exchange.||1 week||Resorts, condos or apartments||Right to use, non-deeded||Mid-scale to upscale|
|VACATION CLUB||A club comprising of multi-site destinations, popular amongst branded hotels and large developers.
Membership is usually based on points system with the right to use the club’s services for a certain number of years. The member has the added benefit of doing an internal exchange with priority within their own club, as well as external exchange through a vacation exchange company.
|Min 1 week, depending on the structure of the club||Hotels||Right to use, non-deeded||Mid-scale to upscale|
|FRACTIONAL OWNERSHIP||Regarded as a form of real estate directed mainly at the second home or holiday home market.
Provides the benefit of a second home ownership but at a fraction of the cost and without maintenance responsibilities.
|2 to 6 months||Mid-scale to upscale condo or villa||Deeded, fractional ownership||Upscale to luxury|
|PRIVATE RESIDENCE CLUB||Similar to Fractional Ownership except that:
PRCs are more exclusive and luxurious; PRCs have a greater number of rooms and are more spacious; PRCs have an open reservation system whereby certain weeks are guaranteed (usually during high season) and the remaining weeks are subject to availability.
|2 to 6 months||Exclusively upscale luxury apartments or villa||Deeded, fractional ownership||Upscale to luxury|
|DESTINATION CLUB||Access to a portfolio of luxury homes in multiple locations.
Characterized by the absence of any equity or ownership of the underlying real estate.
|10 to 60 days||Membership offering global access to a portfolio of luxury residence||Typically right to use, non-deeded||Upscale to luxury|
|CONDO HOTEL||Combination of a condominium and a hotel. It consists of a developer who sells hotel rooms to investors, which results in the complete fragmentation of the property’s ownership.||Whole ownership with a return on investment through a rental program. Personal usage: between 14 to 60 days||Varies from a hotel to a full service apartment||Deeded or right to use||Mid-scale to luxury|
|WHOLE OWNERSHIP||Directed at the second home market. Property is acquired by a sole owner. Usually part of a mixed-use project.||Whole ownership||Varies by product||Typically deeded||Upscale to luxury|