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Timeshare Glossary

Timeshare Glossary - Page 4 of 4

Season
Seasons are designated time periods throughout the year denoting usage value and/or period of ownership. Exchange company division of the weeks in a year into popular (Red), shoulder (White for RCI or Amber for II) and off-peak (Blue for RCI or Green for II) for the calculation of trading power in exchanges. Each resort may have different seasons depending on location, etc.

RCI Seasons
Red High
White Mid
Blue Low

Interval International Seasons
Red High
Yellow/Amber Mid
Green Low

Sinking fund (Reserve)
A fraction of a resort's management fee that is allocated specifically to ensure that the facilities and furnishings are kept in "like new" condition.

Space Banking
Space Banking occurs when a timeshare owners deposits a timeshare week into an exchange company's "bank" or inventory in order for the option to trade for another week.

Special Assessment
In addition to a yearly maintenance fee, sometimes this additional charge is billed to timeshare owners from a management company. This charge is intended to cover
expenses related to major repairs and refurbishment endeavors.

Timeshare
A right, shared with others, to occupy a unit of accommodation for a period of time (usually a week) on a regular basis for a number of years. Sometimes referred to as Vacation Ownership, Holiday Ownership, Multi Ownership or Group Ownership. Timesharing can be in a single building, an apartment, airplane, or a boat.

Time Division
Time Division is a way of classifying interval weeks according to their value. Time division breaks all the weeks in a given year down into three distinct categories:
high demand, medium demand and low demand.

Trading Power
The assessed value of a timeshare week when trading or exchanging for another week within the same, or different, resort. Supply and demand rules prevail in this type of exchange and timeshare owners can greatly enhance their trading power by purchasing high demand weeks and resorts

Trustees
Trustees of a resort property exist primarily as a kind of insurance policy, in order to provide a secure backing in case a resort developer does not succeed financially.

Unit Size
Normally expressed as hotel unit, studio unit, and efficiency unit or by number of bedrooms. Hotel units, studio units, and efficiency units typically consist of a single room with sleeping accommodations and a small built-in kitchen, sleeping two to four people. One, two, three, or more bedroom units are usually condominium-style accommodations and feature a partial or full kitchen and other living areas

Vacation Ownership
Synonymous with "timeshare"

Week Fifty-Three "53"
Week Fifty-Three is generally reserved for the exclusive use of the resort developer or other important member or Trustee. See timeshare calendar example...

Week Number
See definition for interval calendar or view a check-in date calendar by week number. See timeshare calendars...

White week
Mid season in the RCI exchange network.

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