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The first timeshare sold in the United States Was the Kaua`i Kailani on the island of Kaua`i in Hawaii. Bob Burns and Bob Ringenburg sold leasehold condos there in weekly intervals (with a forty-year lease), beginning in May of 1969. They went on to form Vacation Internationale, and also created the original " points" system to make the product more flexible for their owners. The first deeded timeshare program in the U.S. was offered in 1973 at Brockway Springs in Lake Tahoe, California. The developer was Innisfree Companies of Sausalito, California (a 50/50 joint venture with Hyatt Corporation) and the team who put it together was Carl Berry, Paul Gray, Greg Bright, Doug Murdock and Dave Irmer. It was that group of men who pioneered the word "timeshare" to describe the product in order to make it understandable to bankers, who were already familiar with the term as used in the sharing of mainframe computers. They got financing through Avco Financial and when they filed with the California Department of Real Estate they labeled their product 'timeshare' and then used the word 'timesharing' in their marketing materials.

Contributed by tntsolid on April 25, 2008, at 7:49 PM UTC.

PLEASE VISIT THE CONTRIBUTOR'S WEBSITE

Timeshare Owners Community Timeshare Services form Owners to Owners timeshareownerscommunity.com

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