/ ˈtaɪmʃeə(r); NAmE -ʃer/ noun
1.
(also ˈtime-sharing ) [ U ] an arrangement in which several people own a holiday / vacation home together and each uses it at a different time of the year :
timeshare apartments
2.
[ C ] a holiday / vacation home that you own in this way :
They have a timeshare in Florida.