Introduction
The hospitality industry is a major component of the travel industry, which has been affected by the performance of the global economy. Vacation ownership is a segment of the hospitality industry. Weak economic condition, instability in the financial markets, and low consumer confidence kept demand for timeshare intervals soft in 2009. Demand for fractional and residential units was particularly weak.
As a result of global economic downturn, the United States vacation ownership industry, which represents the largest market, has seen a significant decline during 2009. Inspite of weakening of leisure activities during the period, the timeshare owner’s confidence remains quite positive with higher average occupancy rates in the U.S. timeshare resorts than in hotels. Hence, the average sales price per interval has increased significantly in the U.S. vacation ownership industry during 2009.
The vacation ownership concept originated in Europe during the late 1960s and spread to the United States thereafter. After U.S, Europe has a significant share in vacation ownership industry with U.K and Ireland being the largest market followed by Germany and Italy. However, other regions like Asia Pacific hold strong potential for market leaders to expand as the growing middle class income and changing timeshare owner’s profile make it apt for vacation ownership industry.
Scope
The report offers an analysis of the global vacation ownership market. It discusses major market trends, growth drivers and challenges. It presents the competitive structure of the industry and profiles major players in the vacation ownership market with a discussion of their key business strategies.
Reasons to Purchase
Provides input for strategic business planning
Insights on competitive positioning
Identifies business opportunities & challenges
Analyzes market growth and future trends
Report Highlights
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