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Vacation Ownership Spectrum

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