Every year, a group of unethical resort developers rake in tens of billions of dollars. The money flows into their pockets directly from the sales of fictional one-week blocks of vacation time. It also comes from hefty annual maintenance fees.

When the French came up with the concept over half a century ago, they called their creation “time sharing.” Since then, resort owners with a deficiency in both shame and decency, have exploited this brilliantly simple concept, of allowing skiers to buy the use of a hotel room for one week a year, instead of renting it.

Not surprisingly, that very first timeshare project misled the public in its advertising. The enticement to buy ten weeks of fun read, “Why rent the room when you can buy the hotel?” It was ambiguously dishonest, because vacationers purchased a ten-year lease and not a partial deed to the hotel. After a decade, the resort joyously sold (re-rented) the week of usage for another ten years.

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