Another well-known staple of the tourism industry is the idea of timeshare, and now the two have come together with the launch of Butlins new BlueSkies timeshare scheme.

The scheme offers owners the chance to avail of an annual break at Butlins for the next 30 years and benefit from savings of up to 50%.

The new timeshare accommodation is set slightly apart from the main resort, and around 100 families have already become members.

Owners will also have access to all of Butlins's legendary complimentary facilities and entertainments including Splash Waterworld, live stage shows, extreme sports stars, performances from top pop acts, appearances from TV characters such as Bob the Builder, Angelina Ballerina and Pingu, a variety of kids' clubs and sports activities, non-stop street-theatre and, of course, the famous Butlins Redcoats to help entertain the children.

BlueSkies also has a degree of flexibility and owners don't have to holiday at Butlins every year as the company has teamed up with RCI, a timeshare exchange organisation, which means they can choose from thousands of other luxury timeshare developments all over the world . . .

and maybe swap their week in Bognor Regis for a week in Barbados.

The scheme costs �6,000 ( 8,612.95) and a range of finance options are available.

"Second homes and holiday apartments are an unattainable dream for many people as they can be expensive to buy, maintain and manage.

"Butlins is one of the UK's most popular and best-trusted holiday brands and by introducing BlueSkies we're creating a development that is luxurious, flexible, great value and guarantees a firstrate family holiday, " said Mike Crowther, Project Director at Butlins.

The first phase of apartments in the BlueSkies scheme were completed this summer and the next phase is planned for 2008.

The timeshare industry has been tarnished in Ireland due to rogue schemes sold to Irish buyers on holidays.

However, this area is now being reviewed and in the summer the Department of Enterprise, Trade and Employment launched a public consultation on the subject.

"The European Commission has recently published a directive on this issue, and is anxious to work towards EUwide protections against those who are trying to con people out of their money, " said the Minister for Enterprise, Trade and Employment, Micheal Martin.

"While there is already a Timeshare Directive dating back to 1994, there have been many changes in the industry and our regulations must reflect this. We need regulations for 'holiday clubs' which offer holiday discounts in return for a subscription fee.

In addition, the Directive needs to deal with new products such as timeshare on cruise ships.

"The new Consumer Act which came into law earlier this year provided a range of new protections at National Level, however the emergence of the internet and the expansion of the EU raises new issues. Consumer protections need to operate in a single market and Irish people should be confident that they are getting a fair deal no matter where in the EU they are doing business."

One popular trend in recent years has been the emergence of fractional ownership schemes.

These are not to be confused with timeshare, as the difference with fractional ownership is you get actual ownership of a percentage of the deeds and can avail of the resulting capital appreciation on the property if you sell your share at a later date.

One well-known fractional ownership scheme is the Stepping Stones format developed by Oceanico (www. oceanicodevelopments. com) . . . an Irish developer working in Portugal.

According to the development company's sales agents, the scheme is for those "who may have the funds but recognise that it makes no economic sense to own a property they only visit eight weeks or so each year. And those who are cautious, preferring to test the idea of ownership abroad before further commitment."

Fractional ownership also allows buyers to get a foot in the market without massive outlay, and schemes are available offering a piece of a fivestar hotel in Mayfair, London (www.47parkstreet. com), a slice of a safari camp in Mozambique (www. colliers. com), a corner of a log cabin in Lapland (www. abovethearctic. com] or access to an exclusive club in the Seychelles (www. pezula. com).

You can also become a "Chapter Owner" in Tremblant in Canada (www. overseashomesearch. co. uk).

Another advantage of fractional ownership over the timeshare option is that you can earn rental income on the property when you or the other owners are not using it.

For further information:

www. blueskiesbybutlins. com;

00 44 870 145 0047