Introduction
Vacation ownership is a way to prepay for vacation accommodation by investing in destination with recent prices for future tour. It is a popular form of ownership where an individual gains approval for a vacation or resort property in a fixed season, week, on point system. This allow users to visit a certain resort annually, or biannually enjoying access to all the amenities. Rising preference among people to vacation at their choice of destination, at their desired accommodation, and enjoy a certain lifestyle is expected to propel the vacation ownership market in the near future.
Global Vacation Ownership Market: Competition Landscape
Presence of international players across the globe, providing vacation plans with attractive offers, is expected to boost the popularity of vacation ownerships in next few years
- Major prominent players operating in the global vacation ownership market are emphasizing on travel adventures and luxurious services to promote their business and cater to the demands of users.
- Emerging players in the market are promoting themselves through multiple online portals with lucrative offers and luxurious service facilities, which in turn is expected to propel the vacation ownerships market.
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Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. is a U.S.-based company and was founded in 1992. The company specializes in the business segment of timeshares. It has more than 50 franchised properties that include above 8,360 rooms. The company owns various subsidiaries including Hilton Grand Vacation, Hilton Grand Vacation UK limited, Grand Vacations Title, LLC and Hilton Grand Vacations Management, LLC., and The Quin.
Hyatt Vacation Club
Hyatt Vacation Club, a part of Hyatt Hotels Corporation, manages and franchises luxury hotels, resorts, and vacation properties. The company specializes in timeshare resort chain that offers multiple resorts across the U.S. and Puerto Rico. It also engages in promotion through for-sale-by-owner timeshare advertising services along with assisted brokerage services.
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Wyndham Vacation Ownership
Wyndham Vacation Ownership, a part of Whyndham Destinations, is a U.S.-based timeshare company that operates several hotels and resorts across the globe. The company includes a network of 213 properties, 25,000 individual units, and over 925,000 property owners. It offers services to users through various brands such as Club Wyndham, Club Wyndham Asia, Shell Vacation Club, and Wyndham Extra Holidays.
Key players operating in the global vacation ownership market include Hilton Grand Vacations Inc., Hyatt Vacation Club, Starwood Vacation Ownership, Westgate Resorts, Bluegreen Resorts, Diamond Resorts International, Marriott Vacation Club, and Wyndham Vacation Ownership.
Global Vacation Ownership Market: Dynamics
Rising point-based vacation ownership
The global vacation ownership market is expected to expand significantly, owing to an increase in adoption of point-based vacation ownership by users. Popularity for vacation ownership is rising among users, as it offers multiple benefits of luxury accommodation, travel, along with attractive tourist services, which is expected to propel the market across the globe. Moreover, increase in disposable income of users, rising popularity of tourist places, and increase in number of emerging players that provide attractive services for participation in the vacation ownership sector have been driving the global market in the last few years.
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Increasing popularity of vacation ownerships
The global market for vacation ownerships is expected to expand significantly in the near future, owing to the rising popularity of quality and relaxed vacation among users, which enables them to spend on specialized vacation ownerships. Increasing preference among users for adventure and seasonal holidays for relaxation is likely to boost the market in the near future. Rising preference for holidays and international tours is also expected to boost the vacation ownership market in the near future.
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Global Vacation Ownership Market: Segmentation
Based on service offering, the global vacation ownership market can be segmented into:
- Timeshare
- Fractional
- Vacation/Holiday Club
- Campground Memberships
Based on end users, the global vacation ownership market can be classified into:
- Corporates
- Individuals
- Family
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