A synonym for timeshare, or fractional ownership.
If you’ve ever thought of a vacation ownership as a “slice of the pie” of a luxury vacation resort, you’re not very far from the reasoning of a ski resort developer in the French Alps, Hapimag, who is credited with creating the first timeshare resort in the early 60’s. Coffee shops noticed long ago that an entire cake was too expensive to be sold with a cup of coffee, and could not be consumed at one sitting, but could be enjoyed by many if they chose to sell the cake by the slice.
Hapimag brilliantly applied this model to hotel / resort ownership, which made resort ownership accessible to many more travelers. The resort market in Europe was quickly transformed, and soon after, in October of 1965, this type of ownership was incorporated into American Real Estate development.This has manifested into literally thousands of resorts across America, which comprise some of the most luxurious properties in the some of the most exclusive, high-end locations.