I have one – I “inherited” it from a previous marriage.
It works out no cheaper than a normal holiday and is less flexible (though there are ways of swapping).
As an “investment”, it stinks. Do not believe you will ever get your money back. I’d gladly give it away if someone would take over the management fees for me.
On the plus side, it’s on the Costa Del Sol. Not the sort of destination I would normally choose, but excellent for a spring break. Plus – and this is an individual thing – it’s handy for one week just to be able to turn up and know where everything is, how to get there etc. You don’t waste the first couple of days finding your way around.
I should really go out and do some riding in the Sierra Nevada or something.
(By some strange co-incidence, it’s actually this week 🙂 )