In simpler terms, Vacation ownership refers to offering multiple customers the ownership rights and responsibilities of sharing long-term usage of your leisure property. This is done to help maintain a high occupancy rate and create immediate monetization of your investment.
Vacation ownership usually includes timeshare, vacation club, concierge and cruise facility, private residence club and destination club, etc. The exchange component gives owners a space to trade into quality properties all over the world using a vacation exchange services provider like Travedise. Management services capabilities and hospitality solutions are essential features of successful vacation ownership products.
Vacation ownership can be categorized into deeded or right to use. Vacation ownership models are popularly known as timeshare or fractional properties, and a hotel operating as a timeshare or fractional arm is known as a mixed-used development.
Vacation ownership - from traditional timeshare to upscale fractional resort properties – has proven to be an ever-evolving sturdy industry. The former figures from the latest ARDA Worldwide Shared Vacation Ownership Report projected sales revenues of more than $10 billion all around the globe. There are over 7000+ resorts globally presenting 450,000+ units and over 250 million room nights onto the market. Reports around a vacation ownership component in the business model average suggest at least 75% occupancy levels.
The possibility for the vacation ownership market continues to look positive with over 9 million vacation ownership members. People are living smartly; they want to derive as much pleasure as they want out of life in terms of experiences and lifestyle. They are looking at extracting greater value out of every rupee spent. Despite the economic crisis, household incomes continue to rise. Being a global business, vacation ownership continues to be regarded as new destinations and owners come on board from around the world. The increase in the number of middle classes clearly have an immense desire to travel, and they will play a significant role in boosting the demand for vacation ownership. Stated are just a few of the many factors that are expected to drive this industry towards growth in the future.