By Kristen Gerencher, CBS.MarketWatch.com
Apr 27, 2001
First in a two-part series
SAN FRANCISCO (CBS.MW) -- The time-share industry has given itself a makeover in the last few years and more vacationers
like what they see.
Well-known hotel chains such as Marriott, Hyatt and Starwood either have entered the business or beefed up their
offerings, toning down the reputation for aggressive sales tactics and allowing consumers more options for using
their intervals, experts say.
"All the major hotel properties are now in time-share because it's a growing market," said Mark Bonn,
graduate studies director at Florida State University's School of Hospitality in Tallahassee.
Indeed, the relatively young business -- now called "vacation ownership" -- is booming. Time-shares make
up nearly 5 percent of the travel market, up from 3 percent in 1997. Worldwide sales totaled $7 billion last year,
according to the American Resort Development Association.
Kristen Gerencher is a reporter for CBS.MarketWatch.com in San Francisco.