Updated August 3, 2023
The timeshare universe contains various ownership schemes that, as the name indicates, reflect events in time more than locations in space. Timeshare ownership can be deeded, just like a piece of property (the contract never expires), or right to use (the contract has a specific end date), with fixed-week, floating-week, and rotating- or flex-week scheduling.
Then there’s the point system.
According to our research, Vacation Internationale introduced the first timeshare-point program in the U.S. in 1974. So it’s been around pretty much as long as traditional timeshares.
Point systems are used primarily by major hotel chains, such as Disney, Hilton, Hyatt, and Marriott, along with timeshare-exchange companies like RCI. Also known as "vacation- ownership" programs, for the past 40-odd years, timeshare points have been touted for flexibility and choices in vacation planning. These, too, can be deeded or right to use and can be exchanged through companies like RCI, Interval International, and Platinum Exchange or resold like traditional timeshare ownership.
Different hotel and/or vacation-club companies run their point systems differently, mostly in terms of assigning different values to the points. In this way, timeshare points can be compared to a paper currency; ads tout the points as a way to "accumulate spending power" that can be used to "purchase" resort room weeks, cruises, airline tickets, and other travel services.
Typical complaints about point systems include fees for joining on top of the purchase price and the annual maintenance fees, unavailability of units during peak periods, complex and confusing marketing offers, and depreciation of points on the resale market.
Also, a major concern with timeshare points is their vulnerability to fluctuating values. Unlike a traditional timeshare, where you own 1/52nd of an actual piece of property, vacation points can be easily manipulated according to yield-management algorithms similar to those used by the airlines and hotels. Though vacation clubs insist that this is rarely the case, all you have to do is look at the devaluation of frequent-flier miles over the years (not to mention casino players club points) to make you wary of any "assurances" by vacation clubs.
For example, because the airlines have issued trillions of miles since the first frequent-flier clubs arrived on the scene (the first in 1979, the second in 1981), the rapidly increasing supply has created a type of inflation that depreciates their value. Airline miles aren’t worth anywhere near what they were even a few years ago.
In addition, the airlines regularly raise redemption rates, restrict the availability of seats that can be purchased with miles, charge fees for using miles, and limit redemptions with partner airlines.
The ease of making changes, usually for the worse, to the airline miles and timeshare points is certainly worrisome.
All that said, plenty of traditional (non-point) timeshare properties are always available in Las Vegas. Even avoiding the vacation clubs, hundreds, if not thousands, of timeshare units are advertised on resale websites.
In our opinion, a great timeshare deal is at the Jockey Club. This place was built more than 40 years ago and it shows in the (large) size of the units. The location can’t be beat (nestled between Bellagio and Cosmopolitan) and some nice bennies at the Cosmopolitan are included in ownership. The maintenance fees do creep up on occasion (which can be compared to the depreciation of vacation-club points), but if you want a plush place to stay in the heart of the action, deals on the resale market are available for as low as $4,000.
Other possibilities include Tahiti Village (7200 LV Blvd. S), Tahiti (5101 W. Tropicana Ave.), Club de Soleil (5625 W Tropicana Ave), Polo Towers (3745 S Las Vegas Blvd. S), Westgate (at Planet Hollywood and Flamingo Bay), Royal Vacation Suites (99 Convention Center Dr.), and Diamond Resorts (Desert Paradise), to name a few.
Definitely do your due diligence. Timeshare ownership isn’t for everyone.