Global Vacation Ownership (Timeshare) Market Size By Type Of Timeshare, By Location, By Ownership Model, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Vacation Ownership (Timeshare) Market Size And Forecast
Vacation Ownership (Timeshare) Market size was valued at USD 18.83 Billion in 2023 and is projected to reach USD 31.08 Billion by 2030, growing at a CAGR of 7.58% during the forecast period 2024-2030.
Global Vacation Ownership (Timeshare) Market Drivers
The market drivers for the Vacation Ownership (Timeshare) Market can be influenced by various factors. These may include
Growing Need for Inexpensive Travel Options Timeshares are becoming more and more popular as an affordable substitute for typical vacation rentals or hotel stays, drawing in travelers on a tight budget who nevertheless want high-quality lodging.
Desire for Flexible Vacation Planning Owners of timeshares are able to arrange their vacations in a flexible manner, selecting when and where to go within the timeshare network.
Growth in Disposable Income As disposable income levels rise, more people and families will be able to purchase timeshares, which will propel market expansion.
Growing Preference for Experiential Travel Timeshares are a desirable option for people looking for unusual vacation experiences since consumers are beginning to place a higher value on experiences than tangible belongings.
Expanding Awareness and Accessibility By reaching a wider audience, stepped-up marketing initiatives and more convenient internet access to timeshare information have fueled the market’s expansion.
Extension of Timeshare Resort Locations Timeshares are now more enticing to a broader spectrum of tourists due to the extension of timeshare resort locations to well-known tourist areas.
Global Vacation Ownership (Timeshare) Market Restraints
Several factors can act as restraints or challenges for the Vacation Ownership (Timeshare) Market. These may include
Economic Downturns The expansion of the market may be impacted by customers cutting back on discretionary expenditure, which includes buying vacation homes, during recessions or downturns in the economy.
Regulatory Difficulties Timeshare laws differ from nation to nation and area to region. Market participants may face difficulties as a result of regulatory changes, which may have an impact on their revenue and operations.
Excessive Maintenance Costs Timeshare maintenance costs can be exorbitant, which turns off some prospective purchasers and aggravates current owners.
Restricted Flexibility Having a timeshare usually gives you very little freedom to choose your trip dates and destinations, which may not suit the tastes of all customers.
Perception and Reputation The market’s general reputation may be impacted by unfavorable opinions or personal accounts of certain timeshare owners, which may have an effect on demand.
Competition from Alternatives The market is subject to competition from the timeshare ownership alternatives offered by the vacation rental industry and other lodging options like hotels and Airbnb.
Problems with Resale Timeshare owners may find it difficult to sell their units at competitive prices, which may make it more difficult for them to give up ownership.
Global Vacation Ownership (Timeshare) Market Segmentation Analysis
The Global Vacation Ownership (Timeshare) Market is Segmented on the basis of Type of Timeshare, Location, Ownership Model and Geography.
Vacation Ownership (Timeshare) Market, By Type of Timeshare
Fixed-week ownershipThis type of timeshare gives buyers the right to use a specific unit at a resort during the same week each year. Owners have the advantage of knowing exactly when they will vacation, but flexibility is limited.
Floating-week ownershipWith floating-week ownership, owners can choose their vacation week within a specified season, offering more flexibility than fixed-week ownership. However, popular weeks may require booking far in advance.
Points-based ownershipPoints-based ownership gives owners a certain number of points each year, which can be used to book accommodations at different times of the year and at various locations within a timeshare network. This offers the most flexibility but requires careful planning to secure desired bookings.
Vacation Ownership (Timeshare) Market, By Location
Beach resortsTimeshares located at beach resorts offer access to sandy shores and water activities.
Mountain resortsMountain resorts offer timeshares with access to skiing, snowboarding, hiking, and other outdoor activities.
Urban areasUrban timeshares provide access to city attractions, shopping, dining, and cultural experiences.
Theme park resortsTimeshares near popular theme parks offer convenient access to attractions and entertainment for families and thrill-seekers alike.
Vacation Ownership (Timeshare) Market, By Ownership Model
Deeded ownershipBuyers of deeded timeshares own a portion of the property, similar to owning a traditional vacation home. They may also have voting rights regarding management decisions.
Right-to-use contractsIn this model, buyers purchase the right to use the property for a certain number of years. Ownership reverts to the resort or developer at the end of the contract period.
Vacation Ownership (Timeshare) Market, By Geography
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the VACATION OWNERSHIP (TIMESHARE) MARKET in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Vacation Ownership (Timeshare) Market are
Wyndham Destinations
Marriott Vacations Worldwide
Hilton Grand Vacations
Hyatt
Diamond Resorts International
Bluegreen Vacations
Disney Vacation Club
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Wyndham Destinations, Marriott Vacations Worldwide, Hilton Grand Vacations, Hyatt, Diamond Resorts International, Disney Vacation Club
SEGMENTS COVERED
By Type Of Timeshare, By Location, By Ownership Model And By Geography
CUSTOMIZATION SCOPE
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