The public saw the first timeshare companies during the 1960s. Hapimag, a Swiss-based timeshare company, was established on September 23, 1963. After much success, the company expanded to Italy and Spain. After years of existence, Hapimag has maintained its success and remains at the forefront of the timeshare industry. Another company in France began offering timeshare during 1964-1968. A French development company called Société des Grands Travaux de Marseille offered timeshare properties called Devoluy. A resort from the same group of companies named Paul Doumier popularized the slogan: “You don’t need to rent a room, but the hotel is cheaper!” This innovative marketing gave birth to the timeshare industry.
Timeshare hit the shores of the United States of America when Vacation Internationale offered Kauai Kailani as their first timeshare resort in 1969. They were the first company to offer the points system. This system gives owners ownership flexibility. This system allows you to earn points, and by earning enough points, you can take advantage of the other properties within the organization, using the points as your currency. In the 1970s, Florida was the first US state to accept the timeshare method.
The first timeshare company to offer the flexibility that allows you to exchange your properties was Resort Condominium International, founded in 1974. This scheme allows you to exchange your timeshare with other owners, giving you options to choose from within your own resort and sometimes , other resorts around the world.
Timeshare continued to increase in popularity throughout the 1980s, reaching Asia. In the 1990s, major hotels such as Sheraton, Ramada, Hilton, Disney, Four Seasons, Ritz-Carlton, Radisson, and Westin began offering timeshares. With the expansion of the industry, legal regulatory bodies such as the American Resort Development Association in the US and the Timeshare Organization in Europe were organized.