Timeshares are the Original Sharing Economy

The expression “sharing economy” conjures up images of people booking an Uber back to their Airbnbs for the weekend. 

True, these platforms have married algorithms and innovation to make their mark on the sharing economy. However, they aren’t the first to take part in the sharing economy concept. 

Airbnb in particular has a longstanding predecessor – the timeshare. Let’s talk about that. 

First, what is the sharing economy?

Broadly speaking, the term ‘sharing economy’ has become an all-encompassing term for the phenomenon of companies that connect people to shared resources. They provide accessibility to things, rather than ownership of things. Examples of these companies are:  

• Uber (ride sharing) 
• Fiverr (skill sharing) 
• Airbnb (home sharing) 
• WeWork (workspace sharing) 

Essentially, instead of buying something to own; in a sharing economy you buy access to that product/skill/service. And usually, buying access to something is cheaper than buying it outright. 

How do timeshares fit in the sharing economy?  

When you look at the concept of the sharing economy, it actually aligns perfectly with the timeshare model. At its core, a timeshare is simply the shared ownership of vacation real estate. Multiple owners ‘own’ usage of the exact same property – typically in one-week increments.  

The timeshare model isn’t just for your typical resort property either – it can be applied to campgrounds and even cruises. It’s also not a new concept. In fact, timeshares have been around since the 1960s.    

Chris Butcher, Sales Director of Morritt’s Resorts, explains how timeshares are the original sharing economy:  

“Vacation clubs have been around long before ‘sharing economy’ was a buzzword, and actually, at the time they were the height of innovation in the tourism sector. In the 60s and 70s, overdevelopment and rising energy costs was a very real problem – and timeshares were the answer. Rather than purchasing an expensive vacation home, the timeshare model allowed several people to share the same property with reduced costs and more services. To this day, that model remains the same. For timeshares, the sharing economy has never been a new concept…in fact, it’s in our name.” 

Timeshares vs Airbnb 

So how does your typical Airbnb stack up against a timeshare?  

Well, timeshares and Airbnb offer a similar product – that is, accommodation with private rooms and a kitchen, typically used on vacation.  

The difference lies in professional property management. For all of its convenience and innovation, Airbnb is still ironing out the wrinkles in its customer service and safety standards. The selling factor for Airbnb is that anyone can rent out their home to guests, but this is a double-edged sword. Anyone can host guests. This is a problem, because your average person cannot guarantee the same level of services, safety and hygiene.  

Why does this matter?  

There is more to property management than meets the eye, and this is where timeshares shine. They have decades of experience in understanding truly what it takes to manage a property professionally.  

Your timeshare will make sure every single box is checked when it comes to quality service, and go the extra mile to provide a safe experience every time you visit your home away from home. 

For you, this means:  

• Clean accommodation (towels, sheets, COVID sanitising)
• Working appliances
• Safety protocols (smoke detectors, fire extinguishers)
• Maintained landscaping
• Accessible customer service
• Bars, restaurants, and room service
• Daily activities 

A greener, cheaper and more stable solution

At the end of the day, the sharing economy is more than just the latest buzzword. For decades the timeshare industry has proved that a sharing economy is a more economical and environmentally-friendly way of life.  

When we reduce the total resources that are required per human, we reduce pollutants, emissions, over-development and our overall carbon footprint. Companies like Airbnb, Uber – and yes, your timeshare too – acknowledge that there has to be a better, more sustainable solution. 

So the next time you see an Uber zipping its way through your town, remember that innovation is key to making the world a better place – and that your timeshares plays an important role in this!