Float Time: What is it? How does it work? With thanks to Susan Pearson for this information the same calendar week every year...
An owner owns a week of time during a Float period, and the actual week of usage is determined by a selection process in the beginning of each year for the next year.. Owners take turns choosing their float time on a predetermined basis. Originally, they had a computer generated lottery to determine who would get to pick first, now they rotate, based on the original order. In December, owners are mailed a form, asking them for their
preferences in the week they would like to have at the resort. Owners who stay at the
resort will choose the week(s) they prefer. Owners who trade will choose the weeks they
feel will have the best "trading power". Many owners who trade do not send in
the forms, as they know that if they do not, the resort will choose the best trading power
week available for them, in the opinion of the resort.
What is a Float Pool? This is a group of units, with the same size, occupancy and general location, who have the same float period. If a week an owner requests is not available in his own unit, but is available in another unit, then the owner can "float" into another similar unit. (See below) Can you give me more details about this choosing? Each week is assigned a Priority Number out of the "Float Size". For instance, if there are
30 weeks in a float (three units, 10 week float pool), then each owner will have a number
between 1 and 30. Each pool has an "Advance Number". (about 1/3 of the pool, say
9 or11 for a pool of 30- not 10) Let us say they were choice number 24 this year, then
next year they would be choice number 13, and the next year choice number 2, and the next
year choice 21, and so on.
Isn't this complicated? Float systems are used world wide in many timeshare resorts to allow the owners to vary the time they stay at their home resort. The major detraction is that it is difficult to explain to new owners. It is complicated to describe, but it really isn't complicated in practice. We have been using this method for several years now, and it has proven very fair. Owners who don't care particularly which week they receive, but want the best that is available, can rely on the resort to choose. The resort draws up one list for each float pool, placing each week
in order of preference, and uses that list for everyone who doesn't send in a request.
That way, no personal preferences can interfere with fairness. The only other preferences
given are to put owners in their own units, and to give elderly or handicapped people
ground floor units. This is never done if it prejudices another owners' rights.
It has proven to be an excellent way of sharing the off season time. When some weeks are upgraded and others are not, it has meant that all of the owners in that pool have shared in the upgrade instead of just some. Most owners do not have the same vacation requirements year after
year. The flexible system allows them to have a variable selection of weeks, at a
reasonable price. If they wish to stay at the resort, they can have some flexibility
without having to pay a trading fee.
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