The History of Timeshares

The history of timeshares began in 1960s Europe. A Swiss company, Hapimag, started selling shared vacation ownership in 1963, and a developer in the French Alps popularized the pitch that it is cheaper to buy a share of the resort than to keep renting a room. The idea reached the United States in the early 1970s.

Where does the history of timeshares begin, and who invented them?

The first company widely credited with the timeshare model was Hapimag, founded in Switzerland in 1963. Its structure was simple in concept: the company owned the apartments, and members bought shares that gave them the right to use a vacation residence for a set period each year. That right-to-use idea, rather than owning a specific deed, is the root of the modern timeshare (Hapimag company history; industry histories, retrieved June 2026).

At about the same time, in the mid-1960s, a developer at the SuperDevoluy ski resort in the French Alps is credited with the sales pitch that became the template for the whole industry: that it is cheaper to buy the room than to keep renting it. So the honest answer to who invented the timeshare is that two European efforts, the Swiss company and the French resort, arrived at the idea in parallel, and different sources name each as first.

When did timeshares start in the United States?

Timeshares reached the United States in the early 1970s. The company most often credited with the first American timeshare is the Caribbean International Corporation, based in Fort Lauderdale, Florida, which by 1973 to 1974 was selling a 25-year vacation license at its Caribbean properties, letting buyers use a unit for a fixed week each year (industry and legal histories, retrieved June 2026). Some accounts trace an even earlier start to Hawaii condominium projects in the late 1960s, so the exact American first is also contested, but the early 1970s is when the model took hold.

Two developments in the mid-1970s turned timeshares from a single-resort purchase into a flexible network. Resort Condominiums International, known as RCI, was founded in 1974, and Interval International followed in 1976. These exchange companies let owners swap their week at one resort for a stay at another, which is still how exchange works today. For how that system operates now, see timeshare exchange companies.

How did the modern timeshare industry grow?

The 1970s boom came with a reputation problem. Aggressive and sometimes deceptive sales tactics by early developers damaged the industry's credibility, and in 1969 a group of companies formed the trade association that became the American Resort Development Association to push for standards. That tension, real consumer value alongside high-pressure selling, has shadowed the industry ever since.

The turning point for the industry's image was the arrival of major hotel and entertainment brands. Marriott entered vacation ownership in 1984, Disney Vacation Club opened its first property in 1991, and Hilton Grand Vacations launched in 1992. These brands brought standardized contracts and, increasingly, points-based systems that let owners book different resorts, lengths, and seasons rather than a single fixed week. The shift toward points echoed Hapimag's original flexible model from decades earlier. To see how the major brands compare today, see compare timeshare brands, and for how points work, see how timeshare points work.

How big is the timeshare industry today?

The timeshare grew from a contested 1960s experiment into a large industry. about 10 million U.S. households own a timeshare, in a market with $10.5 billion in 2024 sales. United States timeshare sales reached roughly $10.5 billion in 2024, and the average purchase price was about $23,160 average timeshare purchase price in 2024, according to the American Resort Development Association's 2025 report. Resorts run high occupancy, around 80 percent, which is well above the national hotel average.

The history also explains why the present deserves a careful eye. The same high-pressure sales culture that prompted the first trade-association standards in 1969 still shapes the buying experience, and the recurring fees and weak resale market are exactly what newer buyers underestimate. Before you treat any of this as settled, read whether timeshares are worth it, understand what a timeshare costs, and know your options for getting out of a timeshare and avoiding timeshare scams.

Sources

Hapimag corporate history (corporate.hapimag.com) and multiple timeshare industry histories, on the 1963 founding in Switzerland and the right-to-use model. Retrieved June 2026.

Industry and legal histories of the first United States timeshare, including the Caribbean International Corporation vacation license of 1973 to 1974, and the contested earlier Hawaii claims. Retrieved June 2026. The earliest first is genuinely disputed across sources.

Resort Condominiums International (RCI), founded 1974, and Interval International, founded 1976 (company and reference histories). Retrieved June 2026.

American Resort Development Association (ARDA), trade-association history and the 2025 State of the Vacation Timeshare Industry report (arda.org): nearly 10 million owning households, roughly $10.5 billion in 2024 United States sales, an average price near $23,160, and about 80 percent occupancy. Retrieved June 2026.

Brand milestones: Marriott vacation ownership from 1984, Disney Vacation Club from 1991, and Hilton Grand Vacations from 1992 (company histories). Dates of first timeshares in Europe and the United States are reported by industry sources and are contested; we name the competing claims rather than assert a single first. Last reviewed June 2026.