People's demands for the expansion, reorganization, diversification and redevelopment of tourism are increasing day by day. These projects need a lot of investment capital as a guarantee to expand and update infrastructure such as transportation, accommodation and entertainment. Many transportation and large entertainment facilities (roads, railways, ports, airports, conference centers, etc.). ) was built by a large consortium funded or supported by the government, including international financial institutions such as the World Bank. This form of funds is completely different from the construction of some hotels and hotel-related entertainment facilities. Investors in these hotels and entertainment facilities are usually private enterprises, especially real estate developers. They cooperated with private investors and large hotel chains to build these resorts. Take Spain as an example. Many times, especially in some areas and underdeveloped areas, these traditional investment models have been supported by low-interest loans, which are inextricably linked with the special development funds of some large institutions such as the European Union and the World Bank, and regional development banks at the same level, as well as some projects of these units.
This private-oriented financing method for tourism accommodation shows that the expansion is limited by the wealth of large investors who are willing to work on this puzzle of tourism infrastructure. This capital constraint seems to have triggered an innovative response from the developers of tourist accommodation buildings. This method of privately raising funds to build holiday hotels shows that the wealth of large investors who are willing to devote themselves to hotel infrastructure construction limits the pace of tourism development. The factor of limited funds seems to have inspired the active tourism construction developers in the industry to come up with some innovative countermeasures.
In England in the16th century and the middle of17th century, similar to the evolution of joint-stock companies representing various ownership modes of typical commercial enterprises, the past 30 years witnessed the rapid expansion of shared ownership tools for tourism accommodation and tourism services. However, unlike the joint-stock company model in which one ownership share is indistinguishable from another, each ownership share in the multi-owner tourist accommodation (MOTA) complex is related to a specific area of real estate, that is, each accommodation unit that constitutes the MOTA complex is regarded as an independent ownership package. In the case of timeshare, the accommodation unit as the ownership currency has been extended by further dividing the ownership on the basis of discrete time periods, and the development model of joint-stock companies. It seems that the mode of these companies is the original multi-ownership mode (such as equity) of commercial enterprises, starting from the mid-UK 16 and continuing to17th century. In the past 30 years, the common fund-raising tools for resort hotel construction have developed rapidly. However, the equity of each person in a joint-stock company cannot be separated from each other. Different from the joint-stock company model, in a diversified resort hotel, each share of the hotel corresponds to a specific area in the hotel (and so on). And each unit that constitutes the resort hotel is considered as a specific ownership. In the concept of timeshare, because the ownership is further divided on the basis of a specific time period, the function of the apartment as the "currency" of ownership is increased.
Consistent with the logic of financing the company through share capital, the basic principle of dividing the accommodation complex into smaller ownership units is based on the fact that the potential investment groups for development financing have been greatly expanded. Due to the existence of consumption motives, unlike the situation of joint-stock companies, many investors' reasons for investing in MOTA complex are not limited to seeking wealth expansion, that is, many investors will seek to live in the units they bought during their holidays. . Just like the logic of raising funds for the company through capital enjoyment, resort hotels will be divided into smaller ownership units. The basic principle is that the potential investment groups in reality have greatly increased, and they have the ability to provide funds for the construction of hotels. Different from the situation of joint-stock companies, the basic investment theory of resort hotel investors does not stop at the increase of wealth because of the existence of consumption motivation. Many investors also seek to live in their own apartments when they are on vacation.
It is believed that this is the first study that attempts to comprehensively examine the problems surrounding this series of MOTA types. Although the literature on timeshare has developed in the past 15 years, the research on direct ownership units (usually called "condominium" or "hierarchical ownership units") in tourism complexes is obviously insufficient. Because some MOTA units are used as second homes, the literature on the ownership and comfort transfer of second homes related to tourism has some resonance with this study. The popularity of second-home owners can be traced back to aristocrats and wealthy city residents who want to own a seasonal residence (summer palace or winter palace) to escape from excessive heat, cold, interpersonal intensity or unhealthy living conditions in big cities.
It is believed that this is the first time to conduct a comprehensive study on the types of resort hotels with the same ownership. Although timeshare was documented fifteen years ago. However, there is obviously a lack of special research on the real ownership of some units in resort hotels. In resort hotels, these apartments are usually called "apartments" or "senior apartments". As people regard some apartments in resort hotels as another family residence, the emergence of some second family ownership and comfortable immigrant literature related to tourism once again proves the necessity of this research. People's desire to own a second family home stems from the nobility and wealthy citizens. These people are eager to have a seasonal residence (palace in summer or winter) to escape from overheating and cold weather, transitional dense population and unhealthy living conditions in big cities.