Glossary of Timeshare Acronyms

Timeshares can be confusing, especially if you are just becoming involved for the first time. To build upon our glossary of timesharing terms, we’ve complied another list of frequently used acronyms when talking about timeshare. We hope this will help you navigate the world of timesharing more easily!

timeshare acronyms

 

  • ARDA (The American Resort Development Association)  The main trade association in the United States for the timeshare industry.
  • ARP (Advance Registration Priority) – Internal booking period that gets you access to the highest demand inventory at your “home resort.”
  • BOD (Board of Directors) – The elected group of people who is responsible for establishing annual maintenance fees and dues, adopting, modifying and enforcing the HOA bylaws, and maintaining the day-to-day operations of running a timeshare resort (see HOA).
  • DAE (Dial An Exchange) – One of the largest independent timeshare exchange companies outside of RCI and Interval International.
  • EOY (Every Other Year) – Biennial use of a timeshare week.
  • EY (Every Year) – Annual use of a timeshare week.
  • FDI (First-Day Incentive) – An offer, often a substantial discount, to encourage you to immediately purchase a timeshare at the sales presentation.
  • FROR (First Right of Refusal) – A contractual right that gives its holder the option to enter a business transaction with the timeshare owner, according to specified terms, before the owner is entitled to enter into that transaction with a third party. Also called ROFR (Right of First Refusal).
  • HC or HK (Housekeeping Credit) – Credits given to timeshare owners to be used for housekeeping services.
  • HOA/POA (Home Owners Association/Property Owners Association) – A group of timeshare owners of a resort. In essence, every owner at a resort is a member of the HOA; however, in most situations a small group of elected individuals (see BOD) is actually responsible for specifically proposing and voting on decisions. In some cases, the HOA will choose to hire a third party company handle the day-to-day operations of the resort including housekeeping/groundskeeping, collection of fees/dues, accounts payable/receivable, etc.
  • II (Interval International) – The second largest timeshare exchange company in the world.
  • IPC (Internal Personal Contacts) Sales staff employed to sell to existing owners who are staying at the resort. This term is more commonly used in countries other than the U.S.
  • IVA (Impuesto al Valor Agregado) – The Spanish abbreviation for Value Added Tax (see VAT).
  • OPC (Off Premises Contact or Outside Public Contact) – The person, often an employee of the timeshare company or a temporary or a contract employee of the company, who sets up timeshare sales presentation appointments by connecting with prospective timeshare buyers in public venues.
  • OTE (Organization for Timeshare in Europe) A trade association in Europe comprised of resort owners and developers.
  • RCI (Resort Condominiums International) – The largest timeshare exchange organization in the world, owned by Wyndham Worldwide.
  • RTU (Right to Use) – Agreement granting use of a timeshare property for a given period of time. This type of ownership can not be passed on to heirs and expires after 20 to 99 years, depending on the deed.
  • SIV (Sales Inspection Visit) The term for prospective buyers that stay at a resort for a low cost, on the condition that they attend a sales presentation.
  • SPIFF (Special Performance Incentive Fund) – A bonus, paid in addition to a commission, to a salesperson for making a sale.
  • SVO (Starwood Vacation Owner) – Someone who owns a Starwood timeshare.
  • SVN (Starwood Vacation Network) – The exchange system for Starwood owners.
  • TATOC (The Association for Timeshare Owners Committees) – The largest consumer association for timeshare owners in Europe.
  • VAT (Value Added Tax) – A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. VAT is most often used in the European Union. Also called a goods and services tax (GST).
  • VPG (Value per Guest) – This is a measure of how well a sales force is doing. It is the dollar volume of the sales divided by the total number of guests toured.

Timeshare Defined – A Glossary of Timesharing Terms

Getting involved with timeshare can be confusing at times. This is a good reference for anyone involved in timesharing as it defines many of the common terms used to describe different aspects of time share. The glossary is alphabetical, and please let us know if there is anything you feel we have missed or would like to see defined.

 

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