Comment: Timeshare and Resort Conference, by Jeremy Skidmore
This week, I’ve been at the 4th annual timeshare and resort investment conference in Orlando, Florida.
Nice work if you can get it, I hear you say.
True enough, but it has thrown up some interesting issues.
In the UK, timeshare is still a dirty word. That’s mainly due to the way it has been sold in the past rather than the quality of the product.
Think timeshare and images of dodgy sales people harassing holidaymakers in Spain jump to mind.
In the States, they like to call it ‘vacation ownership’ and it has quite a different image.
Brands like Disney, Hilton, Hyatt and Marriott are heavily involved in timeshare, giving it an air of respectability.
And with the average purchase at around 13,000 pounds, the earning possibilities are mind blowing.
In the UK, it will take a long time to repair the image of timeshare and, for several reasons, I don’t think it will ever be as popular as it threatens to be in the US.
UK holidaymakers are generally more adventurous and are not turned on by travelling to a five-star hotel complex every year.
Also, the ongoing maintenance fees of a timeshare property and the cost of buying flights to your holiday complex do not make it a particularly economic purchase.
However, it is likely there will be some growth in the market from the UK over the next few years.
That makes it potentially a very lucrative sale for some in the industry.
I don’t see a purchase of that size being made by high street travel agents but home workers and local retailers who are very close to their market may be able to persuade some of their customers to make the investment.
And retailers will increasingly be able to sell add-ons like flights, car hire and theme park tickets to accommodation owners.
They just need to make sure their selling tactics are different from those we are so familiar with.
Read previous comments by Jeremy Sidmore:
05-Nov-2002 Comment on MyTravel, by Jeremy Skidmore
23-Oct-2002 Comment on the ABTA Convention, by Jeremy Skidmore
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