What does the term "lockout" mean in the timeshare condo world, for example, "2 bedroom lockout"?

According to sellmytimesharenow.com: "Lockout, a.k.a. lock-off unit: A timeshare property which can be divided into two complete sections so that two different parties may occupy either half at the same time."

Both halves of the lock-out should be identical units, not sure if this applies to every timeshare out there, but my timeshare (Grandview, Las Vegas) is like this. These are handy if you have a big family, or if you want to rent out part of your timeshare during a week when someone else is using the other half.

Hope this helps! :D

Timeshare Lockout