The practice of joining together with family and friends to share ownership of vacation property has been around for many years. But the fractional property industry started in the U.S. in the Rocky Mountains ski resorts in the early 1990s. These first fractional developments recognized that people did not want to buy whole homes, which they would use only for a few weeks a year in the mountains. According to research firm Ragatz Associates, there were over 312 fractional developments in North America in 2017. The U.S. Mountain region has the majority of active fractional property available, with the U.S. Pacific region next. The prevalent leisure activity for owners of fractional property in the U.S. Mountain region is skiing. In 2018, the most common fractional size available for purchase in North America is a one-fourth ownership, giving owners three months of total annual visit usage.