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Upgrading Timeshares For A New Generation Of Owners

Timeshare Owners

If you’re looking to read an article that is thought provoking, insightful and full of illuminating detail on the future direction of timeshare, head over to Resort Trades Magazine. They recently published a write up by Bill Caswell a global hospitality consultant dubbed Upgrading Timeshares for a New Generation of Owners. This piece examines what he says is needed from an industry that is well behind in adapting to a rapidly changing market known as alternative lodgingCaswell wastes no time in diving into the subject. He writes that“Timeshare operators know that its time to evolve, having taken a battering from critics and the cottage industry of experts who have sprung up to help people get out of their ownership.”  

It’s an interesting contrast to the reporting that the American timeshare industry has given. In the latest figures from ittrade association, the numbers exceeded 10 Billion in revenue and nine years of consecutive year over year growth. (Source: 2019 ARDA Infographic)

For that to continue, Resort Trades identifies that the challenge is more than just a marketing or sales issue; it’s generational. adding that “Millennials find little in common with today’s timeshare programs, and this will impact participation unless the industry adapts to their desire for experience versus products.” While generalizing what this group of potential new buyers is looking for, the timeshare industry seeks to redefine what it is and what it sells. 

Caswell breaks down key differences between existing timeshare sales of fixed and floating weeks which are deeded and sold as an ownership product compared to Vacation Clubs, which are essentially a membership use product with access rights. 

Somehow the value proposition of real estate in timeshare resales is noticeably absent, but that doesn’t stop the writer from exploring what the future looks like for timeshare and what developers must do to appeal to an audience who is well conditioned to traditional brands and thier transparent engagement with consumers. 

It’s worth a read and you can check it out full article at Resort Trades Magazine.

More Timeshare Articles of Interest:

Explained: Timeshares Vs Holiday Clubs

Booking a Place to Stay? You Have More Options Than Ever

 

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