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...weeks at a luxury vacation condominium or resort at 50% below regular rates every year until 2016? Sounds like the grand prize behind the sequined curtain on some TV game show. Actually, it is a fairly typical example of the kind of arrangement available through a holiday-financing gimmick called time-sharing that is stirring interest among budget-minded vacationers...
Under time-sharing plans, participants pay anywhere from $800 to $8,000 for bargain-rate accommodations in a certain condominium or vacation resort for a given number of weeks in a particular season each year, usually for at least twelve years and in some cases indefinitely. In exchange for guaranteed occupancy over an extended period, time-sharing resorts offer low prices, luxury suites usually equipped with kitchens, and discounts on the use of entertainment facilities...
...Resort operators most likely to benefit from time-sharing are those who have been hard hit by the recession, especially condominium developers. In the past ten years, vacation condominiums have doubled in price, and rates at many resorts have increased by 80% or more. Though occupancy rates in the resort industry as a whole have been rising lately, they remain low in many places, which means that costly facilities are not always in full use. Says Tom Perine, president of Vacation Planning Inc. of Richmond, Ill., the largest timesharing promoter in the U.S.: "Timesharing in the computer industry...
Despite all the rhetoric, Caramanlis feared that a resort to violence might jeopardize Greece's efforts to join the Common Market, a basic policy of his two-year-old regime. So he decided to limit himself to diplomacy. In addition to calling for the U.N. meeting, which convened in New York and heard the arguments of both sides, without coming to a decision, he appealed to the International Court of Justice at The Hague for a quick ruling. He also called for a conference of the heads of state of all Balkan nations. And as a final touch...
...Nairobi. After several hundred Kenyans living in Uganda were reported murdered in retaliation, Kenyan border guards began halting the fuel trucks. Amin last week appealed to the United Nations and the Organization of African Unity for aid to counter the blockade, which he warned "may force Uganda to resort to desperate action...