David Siegel is the wealthy owner of Westgate Resorts, a timeshare company in Florida. Timeshare, or vacation ownership, is the same concept. A 200-unit Hilton Grand Vacations timeshare tower was opened in 1993. Choice Hotels formed an alliance with Bluegreen Vacations, an international timeshare company, in 2013. That year Patten Corp. purchased land in Gatlinburg, Tennessee to develop its first timeshare, MountainLoft. In Florida, a new timeshare owner can cancel the purchase within ten days. Conceptually, fractional ownership is "not" the same as timeshare. The Virgin Islands properties began their timeshare sales in 1973. The ownership of timeshare programs is varied, and has been changing over the decades. He leaves Shirley his timeshare in Florida. This was followed by a drop in timeshare sales. Additionally, almost all U.S. states have laws that specifically govern cancellation of timeshare contracts. Timeshare sales are often high-pressure and fast-moving affairs. This is a list of the major timeshare companies worldwide. Bay Lake Tower ultimately contained 281 timeshare units.