Vacation Ownership (Timeshare)
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Vacation Ownership (Timeshare) Market Size Growth Forecast: What to Expect by 2025?
The size of the vacation ownership (timeshare) market has exhibited robust growth in the past few years. The market value is projected to increase from $17.9 billion in 2024 to $19.23 billion in 2025, recording a compound annual growth rate (CAGR) of 7.4%. This growth during the historical period can be accredited to factors like augmented travel demand, rise in disposable income, greater flexibility in timeshare arrangements, effective marketing approaches, and enhanced trust in reputable timeshare brands by consumers.
How Will the Vacation Ownership (Timeshare) Market Size Evolve and Grow by 2029?
The tourist sharing market, also known as timeshare, is projected to experience substantial expansion in the following years, with an estimated net worth of $25.81 billion in 2029, and a compound annual growth rate (CAGR) of 7.6%. This potential surge can be linked to the growing appeal for vacation ownerships that promote sustainability, the intensified efforts to engage the younger demographic with modern and versatile offers, the popularity of tailored vacation experiences, the rise of remote employment promoting extended stays and timeshare investments, and the care to boost the timeshare experience. Future tendencies include the amplified application of technology for effortless booking and management, the merging of health and wellness facilities with timeshare properties, technological evolutions, superior customer service, and the incorporation of virtual reality to provide digital tours of properties to prospective buyers.
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What Drivers Are Propelling the Growth of Vacation Ownership (Timeshare) Market Forward?
The surge in international tourism is likely to fuel the expansion of the vacation ownership (timeshare) market. International tourism entails individuals venturing beyond their native country for recreation, business, or other reasons. Escalating disposable incomes, enhanced access to cost-effective transportation, tech advancements simplifying booking processes, and an increased focus on health and well-being are driving the growth of international tourism. The vacation ownership (timeshare) sector enhances international tourism by offering economical, pre-paid holiday alternatives that promote frequent trips to diverse locations. For instance, data from the United Nations Tourism, a Spain-based United Nations agency, reveals that international tourism revenue soared to USD 1 trillion in 2022, with more than 960 million tourists traveling in the same year and 235 million tourists in the initial three months of 2023. This is more than double the same time frame in 2022. Thus, the uptick in international tourism is stimulating the expansion of the vacation ownership (timeshare) market.
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What Long-Term Trends Will Define the Future of the Vacation Ownership (Timeshare) Market?
Leading firms in the vacation ownership (timeshare) industry are opting for strategic partnerships as a method to create cutting-edge software for the initial distribution of timeshare-by-owner supplies. The essence of a strategic partnership is the union of corporate strengths and assets to mutually capitalize on shared objectives, which frequently results in innovation and market expansion. For example, in May 2024, timeshare rental marketplace KOALA, based in the United States, formed a partnership with the US travel technology company, Expedia Group Inc. Aspects like Vrbo connectivity for immediate distribution, advanced management tools via KOALA PRO, and a unique data integration transformation engine were introduced through this partnership. Such collaborations are modernizing the rental procedure for timeshares, improving accessibility and visibility, and aligning with prevailing travel trends, consequently drawing in more users and boosting growth in the vacation ownership (timeshare) market.
What Are the Key Segments in the Vacation Ownership (Timeshare) Market?
The vacation ownership (timeshare) market covered in this report is segmented –
1) By Type: Fixed-Week Ownership, Floating-Week Ownership, Points-Based Ownership
2) By Location: Beach Resorts, Mountain Resorts, Urban Areas, Theme Park Resorts
3) By Ownership Model: Deeded Ownership, Right-To-Use Contract
4) By Application: Private, Group
Subsegments:
1) By Fixed-Week Ownership: Single Fixed Week, Multiple Fixed Weeks
2) By Floating-Week Ownership: Single Floating Week, Multiple Floating Weeks
3) By Points-Based Ownership: Vacation Points, Travel Club Points
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Who Are the Key Players Shaping the Vacation Ownership (Timeshare) Market’s Competitive Landscape?
Major companies operating in the vacation ownership (timeshare) market are Marriott Ownership Resorts Inc., Grupo Vidanta, InterContinental Hotels Group (IHG), Hilton Grand Vacations Inc., Travel + Leisure Co., Wyndham Hotels & Resorts Inc., Westgate Resorts, Intrawest Resort Club Group, Bluegreen/Big Cedar Vacations LLC, RCI (Resort Condominiums International), Diamond Resorts International Inc, Interval International Inc., Grand Pacific Resorts, Welk Resort Group, Silverleaf Resorts Inc., Shell Vacations Club, Disney Vacation Development LLC, Anantara Vacation Club, Karma Resorts Pte Ltd, Raintree Vacation Club
What Geographic Markets Are Powering Growth in the Vacation Ownership (Timeshare) Market?
North America was the largest region in the vacation ownership (timeshare) market in 2024. The regions covered in the vacation ownership (timeshare) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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