Moreover, these charges are not escalation-free. There is a near 10 per cent annual hike in hotel charges, making the option of a holiday that much more daunting for an average salaried person in India.

Time-share promises to ease some of the problems that confront this segment of tourists. As per the time-share concept, one can avail of a week's stay every year at a time-share resort for a period between 25 and 33 years, with a one-time investment of Rs 80,000-2,50,000. Of course, the charges would vary with the nature of destination, the quality of the resort, the overall period of ownership and the time of season during which the customer opts to stay at theresort. For instance, if one were to take a time-share of a luxury apartment during the peak season at a popular destination, the price would in the range of Rs 2 lakh. Alternatively, if one were to opt for a one-room set-up during the off-season at a not-so-popular tourist destination, the time-share would cost just about Rs 80,000.

A two-room apartment is usually provided with a well-equipped kitchen, complete with all gadgets. However, where these facilities are absent, the time-share company extends a 50 per cent discount food and beverages (F&B) for the members at the resort where they are staying.

However, apart from the membership fee, there is an annual maintenance fee of Rs 1,500.

To place the time-share charges on a comparative scale, while the total time-share charge for a period of 25-33 years is Rs 1-2.5 lakh, the cumulative charges at a five-star hotel for an equivalent period would be in the range of Rs 8-9 lakh. Besides, the hotel charges tend to go up every year.

Though the optionsare comparatively better, in recent times the times-share business has taken a beating due to certain malpractices by fly-by-night operators. However, Vijay K Singh, managing director of Vacation Club International Pvt. Ltd, and its sister concern, Royal Vacations Resorts Pvt. Ltd, says that demand for time-share in his group of resorts ``has only gone up during this period, as we maintain total reliability and high quality service in this business''.

``In a way, the shake-out in this industry has benefited us, as more and more customers have come to realise how important it is to invest their money with a reliable time-share company,'' says Singh. He explains that one of the problems in time-share business is overselling by certain companies and agents. ``But, if customers ensure the specification of the resort, room and season for the entire period of their membership, there is no way a company can hoodwink them,'' he says.

A time-share member can avail of certain discounts. For instance, if one has amembership for the off-season, one can get a stay at the `home resort' during the peak season if someone with a peak season membership does not avail of the facilities. An exchange of this kind attracts no extra charge.

``Normally, 33 per cent of the peak-season time-share remains unutilised. We extend these facilities to our off-season members,'' says Singh.

A member can also divide his week into two parts and thus enjoy two separate holidays at the `home resort' during a year. Of course, not many like to spend their holidays at the same place every year. As an added attraction, there is an exchange scheme that allows the members to visit other resorts. However, this depends on the particular tie-ups that the parent company has with exchange companies, like the international exchange major RCI.

RCI owns 58 resorts in 35 different destinations in India. Internationally, the company has 3,400 destinations in 85 different countries.

With an exchange tie-up, members are entitled to exchange theirdestination with any of the destinations that are on offer, depending on the availability of space at these resorts.

For an exchange of this kind, members have to pay an additional Rs 1,250 for a destination within the country, or an additional Rs 4,500 for an overseas destination, says Singh.

To get an exchange, a member will have to first deposit his week with the exchange company. The exchange company has the right to give the week to any other person. Suppose, you deposit two weeks, you can get two weeks from RCI at any of their other resorts, after two years.

So, if you are not using your week in a particular year, it's best that you forward it to the next year by depositing it with the exchange company.

Exchange companies maintain a space bank, so to say. And, information on the space bank is available on-line at all RCI centres. Every customer is provided with a card that facilitates transaction for all exchange schemes. Singh's company is the exclusive marketing agent for the time-shareresorts of Jaypee Hotels Ltd and Usha Shriram group. ``By November, we will have Gujarat Ambuja's five-star hotel Fort Radisson in Calcutta also in our time-share business.''

``All our time-share members get 20 per cent discount on F&B and room tariff at our hotels.''

``Our membership is sold by the developers themselves, after the property has been developed. Payment for the membership too is made in the name of the developer. This ensures reliability in business,'' he says.

``To attract membership, we invite people to our presentations and extend a free trial at any of our time-share resorts. There are no strings attached to this gift.''

Residency Manor in Mussoorie and Palace Hotel, Agra, are the choicest resorts of this group.