•

Banking: Depositing a week of timeshare into an exchange "bank."

•

ClubPoints: ClubPoints are the annual currency the Grand Hilton Vacations Club gives its members to spend on their vacation options. They can be borrowed from or saved to next year’s account.

•

Developer: The company owning the resort that constructs the accommodations and amenities on site.

•

Exchange: The system that allows timeshare owners to trade the accommodations they own for comparable accommodations or travel-related services.

•

Fixed week: A type of timeshare ownership in which usage rights attach to a specific week of the year each year in perpetuity.

•

Floating week: A type of timeshare ownership in which the owner owns a week within a season.

•

Homeowners Association (HOA): The group of owners that administer the rules and regulations at a resort.

•

Home resort: Where a new owner has purchased his or her week or joined a club or point-based program.

•

Maintenance fee: A fee, usually paid annually, that timeshare owners pay to cover the costs of running the resort on a day-to-day basis (upkeep and improvements).

•

Season: Time distinctions into which deposited vacation time is divided based on demand. A key component of trading power, as each resort may have different seasons depending on the geographic position, etc.

•

Timeshare: A term used to describe the right and joint ownership of a resort property (e.g., a condominium) shared with others. Each "owner" owns a certain period of time and occupies a unit of accommodation on a regular basis for a number of years. Timeshare is sometimes referred to as "Vacation Exchange," "Holiday Ownership," "Multi Ownership" or "Group Ownership."

•

Timeshare interval: Period of use typically one week.

•

Vacation ownership: A term often used to describe resort timesharing.