Has anyone had experience of timeshares?

Basically you buy yourself into a network of 5 star accommodation anywhere in the world.

The price I was quoted was a flat with 2 bedrooms that can accommodate 4 people in Gran Canary in July for 1 week. The cost was £4,950 which covers you for 31 years. You also pay £280 a year maintenance.

If you want to go someone where else in the world you pay an additional £160 such as Australia or USA.

You also have to pay an additional amount if you wanted to take another time off not in that week in July.

You only play for your flights and food.

They also said you can sell the slot and make some money or at least cover your annual fee.

The accommodation that they showed did look a bit dated.

The advantage is that at least you are not tied into going to 1 place every year which is what happened to traditional time shares.

The disadvantage is that you only get your worth if you holiday regularly every year and stay a hotels. I normally stay with family abroad.

Is that a good deal?