The U.S. timeshare industry has consolidated behind a few major brands: Hilton Grand Vacations, Marriott Vacations Worldwide and Travel + Leisure. The industry has evolved significantly from its notoriously scammy origins, having much higher standards and using more flexible points-based systems. Executives say the bait-and-switch days are behind timeshares and have rebranded them as “vacation clubs,” offering a wide range of accommodations and experiences. But there are still issues and scams to look out for when getting into a timeshare. WSJ explores how timeshares became a $35.7 billion dollar industry, how they work and how issues still persist in the industry. Chapters: 0:00 The timeshare industry 0:36 Timeshares, explained 2:42 Issues with the industry 3:49 Exit scams The Economics Of How do the world's most successful companies generate revenue? In this explainer series, we'll dive into the surprising stories behind how businesses work--exploring everything from Costco's "t...