With its humble beginning as a novel
concept in the 1960s, vacation/timeshare ownership tourism has gradually
attracted masses of tourists, real estate developers, and investors equally. It
is one of the key segments of hospitality industry, holding vast growth
potential, with major drivers being growing interest in vacationing and
increasing disposable income. Developed countries like the US and Europe are
the foremost markets for vacation ownership.
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As the technological advancement in
communications and travel has been moving on the rapid growth trajectory, a
stark change in societal and demographic landscape is visible world over. For
instance, increasing number of working adults and women, early retirement,
growing demand for leisure and recreation, increasing urban population and
ameliorating economic conditions are among some of the major factors
responsible for raised demand of vacation ownership products.
At present, the global vacation
ownership industry is recovering at a fast pace and both demand and supply
factors are poised to observe substantial growth in the years to come. However,
as the trend suggests, demand is growing relatively faster in comparison with
supply. Increase in the factors like occupancy rates, average daily rate (ADR),
and revenue per available room (RevPAR) have made significant contribution to
the growth of the industry.
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