When you consider that there are 750 000 timeshare owners in South Africa, and more than 20 million globally, who enjoy annual vacations year after year - you begin to realise that the ceiling for this industry is incredibly high. 2017 was recorded as one of the best years for global timeshare (or also referred to as shared vacation ownership) with increased availability, flexibility and huge cost savings that fuelled the industry’s growth.
The truth of the matter is that if your idea of a vacation means sleeping on a relative’s couch, then timeshare is most likely not right for you. But, if you are an avid vacationer who invests time and money in creating memorable vacations in sought-after destinations – then here’s why buying timeshare is a good idea.
Timeshare saves you money because you are paying for a number of years holidays upfront at today’s prices, which means safeguarding your holiday costs against inflation and peak season rates.
If you calculate the expense of owning and maintaining a holiday home that is only used once or twice a year, it makes financial sense to share the cost between several owners. The annual maintenance fee therefore covers the daily running expenses, replacement of the soft furnishings and kitchen equipment on a three- or five-year rotation, as well as having sufficient funds saved for the more expensive maintenance jobs such as new air conditioning and pool repairs etc.
One of the best parts of owning timeshare is the guaranteed levels of quality. Instead of a hotel family room with a sleeper couch or the lack of privacy at a B&B, timeshare has home-like accommodations with a full facility.
Step outside your door and you have the country’s best beach, bush or berg destinations and resorts packed with on-site amenities. These include restaurants, swimming pools, golf courses, direct access to beaches, health spas and saunas, fitness centres, lounges, poolside bars and a host of children’s activities such as trampolines, mountain biking, horse riding and more. With timeshare you are getting so much more ‘bang for your buck’.
Timeshare also ensures a commitment to regular vacations. A recent global Oxford Economics Study, conducted by the American Resort Development Association (ARDA) revealed that South African timeshare owners spend 6.5 more days a year on holiday than their non-owner counterparts.
Once you have bought timeshare there’s lots of choice in where and when to travel, the duration of your vacation and the size of your accommodation. You have the option to rent out the timeshare space or give it to family and friends to enjoy. Through exchange companies such as RCI and Interval International, you have access to explore other destinations around the world.
Over the past three decades, global hospitality giants such as Marriott, Hyatt, Hilton, Sheraton, Disney and Wyndham have dramatically changed the face of timeshare. In South Africa, leading hotel chains Tsogo Sun, Sun International and Legacy Hotels and Resorts have done their part to grow the market.
The Vacation Ownership Association of Southern Africa (VOASA) is an industry body that provides consumers with assistance when purchasing timeshare to safeguard them against fraudulent business practice. VOASA also serves to ensure that high standards of ethics are upheld by its members, who include reputable companies that have been in the industry since the early 1970’s. VOASA recommends only doing business with its registered members and these can be viewed on their website at www.voasa.co.za.
This post and content is sponsored, written and provided by VOASA