Floating Week
When you enter into a Timeshare agreement with the term Floating Week, you are entering into a vacation / timeshare ownership which has a floating week usage and not a fixed week usage. The resort, which you have purchased at, will determine the usage within a season of the year. This will usually be either High, Mid or Low dependent on the resort in question and usually either Red, White and Blue. However some timeshare resort will differ and in some cases may be Platinum, Gold, Silver and Bronze. The owner will have the choice of using their floating week within the season allocated by their original contract.
For example, if an owner has purchased a Mid floating week, the resort will allocate them one week every year or every other year depending on whether they have purchased Annual usage or Bi-Annual usage at that resort within the Mid season calendar for that specific resort. There are two main types of floating week: -
- Floating weeks based on a fixed rotational system with all other owners. This means that the floating weeks rotate on a calendar designated by the timeshare resort so that all owners get an equal amount of time in each week on a rotating basis. You will find this program most commonly with Fractional Ownership and Private Residence Clubs.
- Floating weeks based on a reservation basis. This allows the owners to book any week within their designated season once their maintenance fees have been paid. This allows all owners if they care to do so, the option of reserving the same week every year or every other year.
Floating Weeks have become ever more popular due to the flexibility they afford the vacation / timeshare owner, allowing them to book or reserve different times of year at their home resort without having to pay an exchange fee to an exchange company.
Go back to Timeshare Glossary of Terms
