Vacation Ownership (Timeshare) Market Size - By Timeshare (Fixed-week, Floating -week, Points-based), By Ownership (Deeded, Right-to-Use), Age Group (15-25 years, 26-35 Years, 36-45 Years, 46-55 Years), By Usage, By Location & Forecast, 2024 - 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Professional-Services | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVacation Ownership (Timeshare) Market Size - By Timeshare (Fixed-week, Floating -week, Points-based), By Ownership (Deeded, Right-to-Use), Age Group (15-25 years, 26-35 Years, 36-45 Years, 46-55 Years), By Usage, By Location & Forecast, 2024 - 2032
Vacation Ownership Market Size
Vacation Ownership Market size was valued at USD 11.9 billion in 2023 and is estimated to register a CAGR of over 8% between 2024 and 2032, driven by increased acquisitions and mergers among key operating companies. As major players seek to expand their portfolios and market presence, acquisitions have become a growth strategy. These services not only allow companies to access new markets and customers but also diversify their product offerings and increase their competitive advantage.
To get key market trends
For instance, in January 2024, Hilton Grand Vacations Inc. officially completed its acquisition of Bluegreen Vacations. The all-cash transaction, which is valued at approximately $1.5 billion, expands HGV's offerings, consumer and retail mining to position HGV as the leading provider in the vacation ownership experience industry.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vacation Ownership Market Size in 2023 | USD 11.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 8% |
| 2032 Value Projection | USD 23.7 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 300 |
| Segments covered | Timeshare, Ownership, Age Group, Usage and Location |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Furthermore, mergers and acquisitions often bring synergies and operational efficiencies, increasing market demand. Therefore, with the consolidation of factors such as economic conditions and increasing consumer interest in holidays, the vacation ownership timeshare market is poised for continued growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vacation Ownership Market Size in 2023 | USD 11.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 8% |
| 2032 Value Projection | USD 23.7 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 300 |
| Segments covered | Timeshare, Ownership, Age Group, Usage and Location |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Demand for the vacation ownership (timeshare) market is growing as leading companies are gaining greater recognition and accolades. Recognition and awards for exceptional service, innovative offerings, and sustainability efforts have raised the profile and credibility of key figures in the industry. These accolades not only recognize the brand but also build consumer confidence, leading to rising seasonal demand. Furthermore, companies recognized for excellence in customer service and product quality are positioned to attract increasing market share.
For instance, in April 2024, Global holiday vacation ownership company Holiday Inn Club Vacations Incorporated unveiled its achievement of 12 American Resort Development Association (ARDA) awards. These accolades included the prestigious ARDA Circle of Excellence (ACE) award, which marked the highest levels of professional excellence.
The proliferation of digital platforms and online booking channels has facilitated access to vacation ownership and timeshare opportunities, increasing market demand. Consumers now own vacation properties thanks to user-friendly websites, mobile apps, and online marketplaces for various purposes. Consumers can easily research, compare, and book places due to these facilities. This greater accessibility and transparency has democratized the vacation ownership industry, satisfying many customers and driving vacation ownership market growth.
Despite its popularity, the vacation ownership market faces some hurdles that are holding it back. One big issue is that people often have a bad impression of timeshares because of the way they've been sold in the past. Some companies have used pushy sales tactics, and the contracts are often hard to get out of. Plus, when the economy takes a downturn, people are less likely to buy timeshares. All of this makes people hesitate to buy timeshares, which hurts sales and leads to more regulations, which makes it even harder for businesses in this industry. Another problem is that there are now more ways to find places to stay, like vacation rentals and websites that let you book your own accommodations. This makes it harder for traditional timeshare companies to compete. To overcome these challenges, the timeshare industry needs to work together to make things more transparent, build trust with customers, and keep up with the changing market.
Vacation Ownership Market Trends
The vacation ownership industry is witnessing growth as an increasing number of companies positively expand their portfolios. Aiming to gain market share and meet consumer aspirations, companies are actively acquiring or developing new properties in sought-after holiday destinations. By diversifying their portfolios, companies can provide potential customers with a wide range of holiday experiences, from beach resorts to alpine retreats and urban escapes. Expanding through infrastructure enables companies to enter new markets and attract customers. These trends reflect the evolution of the industry and ongoing efforts by companies to innovate and compete in the ever-changing landscape of space ownership.
Citing an instance, in March 2024, Marriott Vacation Clubs, the vacation ownership brands managed by Marriott Vacations Worldwide, unveiled The Marriott Vacation Clubs City Collection. The collection included properties formerly known as Marriott Vacation Club Pulse in seven active cities.
Vacation Ownership Market Analysis
Learn more about the key segments shaping this market
When it comes to timeshares, you have three main options1. Fixed-Week You get to choose a specific week each year at your chosen resort. This gives you a guaranteed vacation spot and is great for families who like to plan their vacations in advance. 2. Floating-Week With this option, you don't have a specific week assigned to you. Instead, you can choose any available week that works for you. This gives you more flexibility, but it could also mean you end up with a less desirable week if you're not quick to book. 3. Points-Based Instead of being assigned a specific week, you're given points that you can use to book any available time at your chosen resort. This gives you the most flexibility, but it could also be more expensive than the other options. The property insurance segment is expected to reach over $8 billion by 2032. This is because more and more people are buying timeshares, which means there is a growing need for insurance to protect them. One of the main benefits of timeshares is that they give you a guaranteed vacation every year. This can be especially appealing to people who like to plan their vacations in advance. It also gives you peace of mind knowing that you'll always have a place to go on vacation, even during peak travel times.
Learn more about the key segments shaping this market
Based on ownership, the vacation ownership market is categorized into deeded and right-to-Use. The deeded segment held a major market share of around 57% in 2023. With deeded ownership, buyers gain legal ownership of a particular property or room in the resort for a specified period, usually permanently. This style of property gives buyers a sense of relaxation. This type of property investment is like traditional real estate and guarantees buyers freedom for long-term vacation planning, achievable property value appreciation, and transfer of power to heirs.
Looking for region specific data?
Picture thisyou're dreaming of that perfect vacation, where you can escape the everyday grind and create memories that will last a lifetime. If you're a North American, you're in luck! Our continent is home to an incredible range of destinations, from sun-drenched beaches to sky-high mountains. But let's be real, vacations can add up quickly. That's where vacation ownership comes in. It's like having your own slice of paradise, without breaking the bank. You can own a piece of a beautiful resort, complete with all the amenities you could dream of, and use it year after year to create unforgettable vacations. The flexibility of vacation ownership is the cherry on top. You can choose when and where you want to go, without the hassle of planning every detail. Whether you want to spend your days lounging by the pool or conquering new trails, vacation ownership has you covered. So, if you're a North American who loves to travel and create lasting memories, vacation ownership is your perfect match. It's the ultimate way to escape, explore, and make the most of your precious vacation time.
The vacation ownership (timeshare) market in the US is experiencing strong demand driven by various factors. Americans value vacation experiences and look for cost-effective and convenient ways to enjoy them. Timeshare ownership offers an attractive solution, providing luxury accommodations and luxury resort amenities at a fraction of the cost of traditional hotel accommodations. Furthermore, the US. vacationers can explore and create memorable experiences through these companies, leading to demand in the country.
Vacation Ownership Market Share
Marriott Vacations Worldwide and Hilton Grand Vacations hold a significant market share of over 23% in the vacation ownership (timeshare) industry. Vacation ownership timeshare market demand is driven by focused efforts by companies that provide these services. These efforts include new marketing strategies, such as targeted advertising campaigns and promotions aimed at attracting potential customers. Companies invest in enhancing the customer experience through personalized services, exclusive benefits, and resort enhancements to retain existing owners and attract new ones within the resort. Therefore, the vacation ownership timeshare market demand is rising, ensuring growth and profitability.
Vacation Ownership Market Companies
Major companies operating in the vacation ownership (timeshare) industry are
- Bluegreen Vacations
- Disney Vacation Club
- Hilton Grand Vacations
- Holiday Inn Club Vacations (IHG)
- Hyatt Residence Club
- Marriott Vacations Worldwide
- Vidanta Resorts
- Welk Resorts
- Westgate Resorts
- Wyndham Destinations
Vacation Ownership Industry News
- In March 2024, iVaCay announced that it is launching an ICO campaign aimed at transforming vacation ownership. This program gave participants early access to VacayCoin, a new platform that tokenizes vacation properties.
- In January 2024, Travel + Leisure Company, a leading membership and leisure travel organization, revealed an agreement to buy the vacation ownership division of global hospitality leader Accor in exchange for a U.S. deal of $48.4 million.
- In May 2024, ARDA’s announced its monthly AIF Leisure Ownership Sentiment Index, reflecting the ongoing optimism among timeshare owners in the first quarter of 2024 for travel. The index provides a monthly overview of timeshare owners’ sentiment and expected future actions.
The vacation ownership (timeshare) market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
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Market, By Timeshare
- Fixed-week
- Floating -week
- Points-based
Market, By Ownership
- Deeded
- Right-to-Use
Market, By Age Group
- 15-25 years
- 26-35 Years
- 36-45 Years
- 46-55 Years
Market, By Usage
- Individual
- Group
Market, By Location
- Beach resorts
- Deeded
- Right-to-Use
- Mountain resorts
- Deeded
- Right-to-Use
- Urban areas
- Deeded
- Right-to-Use
- Theme parks
- Deeded
- Right-to-Use
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
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