A vacation ownership is a product sold by vacation ownership/holiday companies in which a buyer acquires the right to use a unit of a resort for a specific period of time in a year for a specified number of years.
With vacation ownership, you won't need to own a vacation home right through the year or rent lodgings by the day when you travel. You can purchase a resort unit only for the time you need at a location you desire. Simply put, timesharing means owning a week annually at a resort. For instance, you can choose to own the 2nd week of December, every year, at a resort in Goa.
But you don’t have to spend your holidays at one location year after year! Through a vacation ownership exchange system facilitated by RCI, you can take a holiday in India as well as in 86 other countries. Which means Goa today, Venice tomorrow!
In short, vacation ownership offers a better price and greater value than a conventional hotel room - an apartment that can accommodate more people, with a kitchen that provides privacy and independence.
The All India Resort Development Association (AIRDA) is an organization comprising genuine vacation ownership members, dedicated to setting the standards of operation and ensuring customer protection. The association is a self-regulatory body with a core committee that oversees the functioning of the association.
Having recognized that a majority of the customer complaints were actually arising from customers being forced to buy the same day they visit the sales centre, AIRDA has made the following mandatory:
Today's vacation ownership industry offers numerous purchase options to meet the customer’s desire for vacation variety and flexibility. Although the availability of these purchase options varies from resort to resort, here are the most common options for the customer to choose from:
Fixed week: The oldest and most familiar is the fixed week type. Here, weeks of the year are numbered 1 - 52 and the resort offers you the option to purchase one or more weeks to be used at the same time each year, in a fixed unit.
Floating week: This can be any week reserved for the vacation ownership owner during a certain season. (A season he wants to enjoy but is not assigned a week number for.) The unit can be of any size here.
Regular payment of this maintenance fee will ensure that all amenities are provided in the best possible manner to all the owners of the resort.
Studio: Accommodates a minimum of 2-4 people. Privacy cannot be assured in this type of accommodation.
One Bedroom: Accommodates a minimum of 4 people.
Two Bedrooms: Accommodates a minimum of 6-8 people
In some instances you will be offered an opportunity to extend your membership for a price, but this will vary from resort to resort. Otherwise, the membership will be placed back on the market by the resort owner.
Yes. Once you are the legal owner of a vacation ownership (timeshare) week, you may sell it at any given time.
As soon as the ownership has been transferred into your name, you may contact the resort and exchange company to start enjoying your vacation ownership (timeshare) purchase. Check for more information with the marketer selling the vacation ownership (timeshare) to you.
With all purchases, a cooling off period of 10 days is allowed to the buyer. Should you change your mind within 10 days of signing the purchase order, the licensed marketer who will handle your purchase and sale will refund you in full, any money that you have paid to them.
Please check with the marketer/resort on this issue. Generally, you will have to make the travel and other arrangements yourself. At the resort, you will be provided an opportunity to inspect the place and have your questions answered and all help provided.
What does an AIRDA membership mean to resort owners and developers? AIRDA comes in as your industry partner, conscience keeper and business catalyst - with a wide portfolio of support services.
What does AIRDA mean to holiday seekers and prospective customers? AIRDA comes in to provide information and offer guidelines on making the right timeshare decisions.