Since its inception, timeshare has allowed families, as well as single's, a way to vacation for less money. By providing five star timeshare resorts for the price of three star quality, it offers a better standard of living. It accomplishes this by breaking a condominium into 52 equal periods of time.
Each amount of time equals one week a year. Week one would be the first week of January, while week 52 would be the last week of December. Families are given an opportunity to purchase weeks for their holiday needs.
This concept divides the cost of maintenance and up keep as well. This allows staying in five star resorts for a fraction of the cost of purchasing a second home in the same area. Of course, these resorts are located in different countries around the world. A fixed week, floating week, internal points or RCI points can be purchased. Different Resorts can belong to different exchange companies as well.
A fixed week allows the purchase of a specific week of the year. If every year a snow skier skied Aspen, Colorado during week 52; purchasing that week would not only save the hassles of looking for a hotel room every year, it would also "freeze" the cost of the room.
Many people don't have a fixed time to vacation every year. A floating week allows them to pick a season of the year (high season, mid season or low season) they normally vacation in. Consequently this lets them vacation during any week of that season.
Uneven exchange was one of the problems timeshare owners complained about. If they choose to purchase the best week in a resort and used a lesser week somewhere else, their week was evenly exchanged. As a result, they felt there was no value for their money.
This changed when RCI offered a points system. In a points system, the size of the room, the time of year, and the location are classified into points values. As a result, owning a two bedroom in high season could allow the owner to exchange for two or more weeks in a one bedroom during low season.