| The Diamond Resort, at the foot of the Precious Stone Hill and
100m from to the Baochu Road, covers an area of 24 acres (16,000 sq.m)
with total floorage of 20000 m2.
Close to the luxuriantly green Precious Stone Hill and the graceful
Precious Stone Pagoda, the resort merges the architecture with natural
environment harmoniously: hill and water, buildings and roads, space
penetration, and pavilions and bridges built in its garden, fully
embodying the features of "green", "water" and
"pagoda" of the Precious Stone Hill. You may feel the green
nature and enjoy the artistic style of the southern-featured gardening
either indoor or outdoor at any moment, always merging yourself in
Timeshares: The Flexibility
of A Mobile Home
Excerpt from a China Real Estate Paper report on April 24, 2002
Chinese households are planning to go on vacation during the seven-day
May First holidays, but others choose to stay at home, learning
from their past vacation experience that holiday resorts and hotels
are too heated to make vacationing a real enjoyment. Recently, exciting
news came from Bo'ao, Hainan Province that a China Timeshare Vocation
Property Association, the first of its kind in China, was founded.
The Association will offer timeshare properties and hotels in different
cities simultaneously later this year. In the near future people
will be able to stay at "their own homes" while vacationing
in domestic tourist destinations in the form of timeshares.
What is timeshare
Timeshare may find its origin in France in 1960s and began to
develop rapidly since it was introduced into the USA in 1970s. Today
it is the vacation choice for people all over the world.
What is timeshare? To be precise, timeshare means two things: timeshare
vacation and timeshare exchange.
Timeshare means that the use right of a hotel room or a resort room
is sold to multiple guests on a weekly basis. Buyers of any one-week
use right could stay there for a week on vacation. They also have
the right to transfer, present as gift or inherit the timeshare
and to use the amenities at a favorable price. The greatest advantage
and appeal about timeshare is timeshare exchange.
That means when you decide not to stay at the hotel or resort where
you own a timeshare, you may exchange yours with timeshare ownership
in other hotels or resorts within the same exchange service network.
So timeshares are exchangeable and may guarantee quality accommodation
and save expenses for leisure or business travels.
Moreover, timeshares are vacation consumption as well as an investment
as buyers have the choice of purchasing 10 years, 30 years, 50 years
and even longer period of use right and they can be lent, put on
lease, transferred, presented as gift or inherited. They are a kind
of future consumption at today's price. That's why timeshares have
developed so rapidly since its emergence and have become one of
the tourism sectors witnessing fastest growth in the world tourism
Timeshares today are the vacation choice of over 4.5 million households
from 174 countries and regions, who own at least one-week use right
of 4145 timeshare resorts in more than 80 countries and regions.
According to statistics, the global timeshare revenue exceeded 6
billion US dollars in 1998. It is estimated that the figure would
reach 200 billion US dollars for the period between 1995 and 2009.
Timeshares in China
Throughout the country, only 47% of star-rated hotel rooms are
taken up, with more than half of the hotel rooms leaving unused,
which is a waste of 100 billions of assets, in addition to the large
number of vacant commodity homes. To cope with this problem, Hainan
No.1 Investment Group founded a Hainan China Tour Timeshare Vacation
Network Co. to introduce the world-heated timeshare vacation into
China. Taking the advantage of modern technologies, they designed
a timeshare exchange network catering to the characteristics of
China's market. Domestic star-rated hotels are organized into a
network and their vacant rooms are sold on a timesharing basis without
affecting normal business operation.
It is the first timeshare exchange network in China. So far as
we know, there have been 16 Chinese hotels and resorts, including
Beijing Jiuhua Resort and Zhuhai Shijingshan Travel Center, who
joined RCI, the biggest timeshare exchange company in the world.
Zhuhai Shijingshan Travel Center has recruited more than 100 members.
China-based hotels and resorts that have joined RCI can be found
in Beijing, Hangzhou, Wuxi, Qingdao, Harbin, Kunming, Guilin, Haikou
China Real Estate Timeshare Association is oriented to ordinary
citizens. It is launched by China Real Estate Development Group
in cooperation with powerful real estate enterprises in over 20
cities, and major enterprises groups in China, such as Zhongyuan,
China Petroleum and China Travel Agency. Its establishment will
break the geographical restriction within the real estate industry
and help digest vacant homes and boost the real estate industry.
Prospect: The market needs straightening out
As a new concept in domestic tourism industry and a new form of
vacation, timeshare has been well received in the tourism industry
and won the concern and attention from governmental departments.
However, the market is still immature, and problems of this or that
kind have been noticed in timeshare companies. Last year a Shenzhen-based
timeshare company was closed down and many of its members failed
to get compensated. Shenzhen Consumers Association was concerned
about this and warned that consumers should be more cautious in
choosing timeshare vacation. Despite of this, timeshares as an emerging
form of vacation are becoming more and more popular. It is widely
acknowledged in the tourism circle that timeshares will have a great
prospect in China. Leaders from the State Tourism Bureau also claim
that the concept of timeshares shall be recommended in line with
existing regulations and laws on tourism administration.