None of them could be more enthusiastic than Henry Dorsey, a seasoned expert in the field, who came to Mexico to advise a 30 million dollar time share project in a prime Cancun location.

The Clipper Club time-sharing project is currently under construction. It is being marketed by Codebisa, a Mexico City based tourist resort consulting firm. The developer, Rodeceza, will also be managing the project.

Dorsey feels that Mexico is the place to be right now for anyone in the time-sharing business - marketing firms, developers, and purchasers alike.

The reasons for this are the relatively cheap dollar purchase cost; a high condominium appreciation rate; the peso's instability; the country's well known sun spots with their comparatively close location to the huge North American market and; an advantageous twist in the local market ironically due to government restrictions on foreign ownership of private property.

"Time-shares enable you to take tomorrow's vacations at today's prices," says Dorsey, "and at today's peso rate as well."

According to this local expert, the big advantage of time-sharing to Mexicans is the relief from the anxiety that he won't be able to afford vacations on the international market.

Dorsey pointed out that the standard room prices in quality hotels have tripled in the last seven years - from 32 dollars in 1976 to 93 dollars last year. Demand has outpaced supply. Worldwide tourism increased 253 percent over the period but new hotel construction was up only 14%.

Time shares involve the purchasing of a specific week in a resort condominium. This can be done in two ways; fee simple in which you would buy as you would a condominium with a warranty or deed and with financing available and the right to sell; right to use in which you have a long term privilege to use it for a set period each year. The latter plan takes the form of a vacation lease, a club membership, license or bond.

But now for an annual fee time share owners can join an international exchange which enables them to exchange their space under the right to use plan freely exchanging their time. Codebesa is associated with Interval International one of the largest exchange networks with membership of over half a million worldwide.

The advantageous twist offered by the Mexican market which is totally unique to time shares is that the purchaser can have the best of both the "fee simple" and the "right to use" flexibility.

Time share purchasers in Dorsey's project, the Cancun Clipper Club, buy a share of the "rights of ownership" and agree to resell in 30 years in accordance with government regulations on foreign investment in real property. The net proceeds will be divided by the time share owner and the Club.

Dorsey said, "the price structure of the Clipper Club was kept low so not to exclude Mexicans from the Cancun market - which is about 80-90 percent North American.

Eight thousand dollars a week for two separate units in one space - to allow the option of renting - may not seem so cheap to those earning pesos, but compare that to 12,000 dollars for an Aspen Colorado ski resort; a 15,000 dollar average in Miami, Florida; 23,000 dollars in Hawaii and it doesn't seem so bad.

"They are today's investments to be sold at tomorrow's prices and in between all your luxury resort vacations cost nothing," said Dorsey. Indeed with Cancun condominium prices on the upswing of 25-50 percent last year, the future looks good.

"Time shares in the Mexican market have gone sky high. One project had a 300 percent increase last year," said Dorsey.