Timeshare is increasingly becoming a compelling proposition to the discerning holidayers, as it continues to keep its promise of exotic and enchanting holidays. Though the concept of timeshare itself is not new, it has only recently caught the imagination of Indian holidaymakers with rising numbers becoming more and more open-minded and adventurous, as they travel more, holiday more and seek newer and unexplored holiday experiences. While the overall travel trade is itself witnessing an exponential growth, timeshare happens to be the fastest-growing segment. It is in fact growing by 18-20 per cent annually in India, while the rate of growth for the international market is 15 per cent.

A timeshare holiday is designed as a different holiday experience based on the concept of a home away from home, only better as you necessarily holiday while everything you need is taken care of and at hand. Thus, the resorts are designed like apartments, replete with a bedroom, a dining room and a fully equipped kitchenette. A store that sells provisions and other items of daily needs is located in the vicinity. Dining facilities are also provided for the residents. Additionally, facilities for fun and pleasure -- indoor and outdoor activities, such as games, cultural events, library, swimming pools etc. It is an ideal getaway in these times of high stress and pace, as more and more people take off to seek temporary refuge from the stresses of daily life or simply to grab some quality time with their family.

To elaborate further, Timeshare, also called holiday ownership, offered by RCI allows one week of holiday a year for 25-30 years at select resorts for a one-time payment of membership fee. At present, the average price of an off-season week for 30 years is approximately Rs.1,50,000 - Rs.1,75,000. One has to subsequently pay Rs.4000 per week per year and Rs.3500 for exchange of the week at any destination in India. The rate is Rs.9000 for international destinations apart from those in Asia for which the rate is Rs.7000. The payment, along with an annual maintenance charge, allows the buyer to become the owner of a property with the right to use it for one week in a year. A member family can exchange its week at the resort of which it is a member for a week at another resort, since no one would want to go to the same resort year after year. All one has to do to be eligible for timeshare is to purchase a week in an affiliated resort.

In other words, timeshare enables one to pre-purchase holidays at today’s rates for 25-30 years. Such holidays, therefore, offer the promise of being insured against inflation. Increase in the number of low-cost airlines has also complemented the timeshare business by further bring down the overall cost of traveling and holidaying. Thus, rich comfort and super-luxury holidays have become fairly accessible to the middle-class families as well. Timeshare has also made holidaying abroad more accessible and affordable. As part of the package, a member family can choose to holiday abroad. Says Radhika Shastry, Director, RCI, Global Business Group (a player in the Timeshare business), in an interview to Deccan Herald, “Out of the 15,000 families which went for vacation through RCI last year, almost 40 per cent chose to go abroad. Apart from the exchange fee to the RCI one doesn’t have to pay anything extra.”

RCI has 3700 affiliations across 100 countries. It has 53,000 members in India and 3.2 million around the world. Timeshare also educates one about the numerous holiday options, experiences and trends that one can enjoy. One can go on a heritage holiday, a skiing holiday, or a wellness holiday. “A couple might want to experience wildlife, then we would send them to South Africa. The next time, they might want to just relax, in which case they could go to Kerala for a Ayurveda package,” informs Shastry. The range of experiences, she adds, is mind-boggling. A lifetime is not enough to experience it all. And then, a lifetime of Timeshare may be more than enough.