It's timeshares again, baby! And they're not only for your grandparents this time.

While timeshares have long been a popular choice for tourists seeking a convenient and comfortable place to stay while on vacation, they have spent years developing a bad reputation due to aggressive sales tactics, rigid contracts, and a perception of little booking flexibility that locked people into lengthy agreements or significant financial obligations.

But the saying "what's old is new again" certainly applies to timeshares, which are making a comeback in a significantly improved package and experiencing record sales ($8.1 billion in 2021). The idea has been updated for a new generation by businesses like Marriott Vacations Worldwide, Hilton Grand Vacations, Disney Vacation Club, Wyndham Destinations, and Holiday Inn Club Vacations, which provide flexible, points-based vacation rental systems that enable members to exchange their points for a range of travel experiences, locations, and activities.
This innovative timeshare strategy also pledges to provide exceptional customer service, including individualised concierge services, as well as hotel and eating options, enabling travellers to maximise their investment.

According to Jason Gamel, president and CEO of the American Resort Development Association, the trade association for the timeshare business, "so much of the growth that timeshares are seeing can be related to the sector's progression toward serving the demands and desires of today's travellers." When considered as a whole and in conjunction with the industry's value offer, timeshares actually provide for the needs of contemporary travellers.

You might be shocked by the number of people who are investing in the new timeshare game. The world's leading vacation ownership and exchange company, Wyndham Destinations, conducted a survey and discovered that 55% of millennials have vacationed in a timeshare, despite the fact that baby boomers undoubtedly continue to invest in the sector. In that sample, 73% of participants said they had a good time, and 1 in 4 said they would think about buying one.

The industry's transformation to accommodate the demands and preferences of today's travellers should be credited for a large portion of the success that timeshares are currently experiencing.

There are a number of causes behind this pattern. Millennials can enjoy holiday ownership without breaking the bank or paying the down payment for a single vacation house, thanks to the early entry into the timeshare world.

A timeshare is a great option for young individuals who are just starting their careers and need the flexibility to accommodate any work changes or relocation because revamped points-based systems allow members to adapt their travel plans accordingly. Owners can now have a second home anywhere in the world, a location where they can unwind and enjoy without the inconveniences of a conventional hotel stay or an uncontrolled holiday rental.

Finally, anyone who doesn't want to worry about juggling multiple reservation systems and websites will find that booking a timeshare and taking care of all arrangements in one location is a timeshare a great option.

Of course, the sector continues to have its detractors. Some contend that ownership fees and upkeep expenditures, particularly for those on a restricted budget, might be deterrents. The concept of being bound to a particular home or location can also be off-putting for people who prefer the flexibility of a more conventional holiday rental, though this is not true for all timeshare contracts.

Even former NFL player and current XFL coach Anthony Becht opposed timeshares due to the high fees he was charged after purchasing a timeshare in St. Petersburg, Florida, in 2005.

What I really paid was shocking to me compared to what the timeshare sales business had actually pitched, said Becht. It can be overwhelming when fees "come at you from all directions." (Becht ultimately worked with Timeshare Compliance, a business that handles timeshare contract termination, to get out of his contract.)

Why Timeshares Are Experiencing a Millennial Renaissancehttps://t.co/NxqumXsj1M pic.twitter.com/BAeLDR9CF8

— TripSavvy (@TripSavvy) December 16, 2022

However, the trend of rising timeshare popularity among millennials shows no signs of slowing down, despite these potential negatives. With more than 200,000 units owned by close to 10 million owners, there are more than 1,500 timeshare vacation club resorts in the United States, according to ARDA.

One drawback of timeshare ownership is that you can end up taking more holidays as a result of it. According to a research by the Timeshare Users Group, 79 percent of owners say their timeshare allows them to take more trips than they otherwise would have. According to ARDA research, timeshare owners travelled four times on average in 2021.

Millennials and other travellers of all ages are increasingly turning to timeshares because of their ease, cost, and flexibility. With so many alternatives, from conventional resorts to opulent villas, there is certainly a timeshare experience for everyone.