Published on : Oct 14, 2016
ALBANY, NY, Oct 14, 2016: The report discusses the dynamics present in the market and identifies the various drivers and restraints that are expected to impact its trajectory in the coming few years. The vacation ownership industry allows interested consumers to own certain properties for a specific period of time at a predefined rate. Thus, it is also known as timeshare industry. These fully furnished properties are given to consumers on weekly basis. Such rentals allow consumers to garner points that can be redeemed at a later stage of re-rental or for a particular location.
The stabilizing and growing economy of the globe is the primary growth driver for the global vacation ownership market. The rising level of employment, a spike in disposable incomes, and the growth in the number of individuals with high net worth are all expected to contribute significantly to the revenue of the global market in the coming years. The desire to indulge in lavish holidays, the introduction of smart keys, and the increasing importance of mental and physical well-being all constituted towards the growth of the global vacation ownership market.
The market shows intense competition due to several small and big players. Previously, private players dominated the global market with a considerable monopoly over one-week stays in vacation homes. However, the emergence of publicly-traded hospitality companies has not only increased competition but also introduced several vacation options for consumers. The flexibility of occupancy rates, revenue per available room (RevPAR), average daily rate (ADR), and occupancy rates have all propelled the demand for vacation homes in recent years.
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Despite the headstrong market drivers, the global vacation ownership market is being dissuaded by several challenges. Analysts have noted technological issue in the booking of vacation spaces has been the leading restraint for the global market. Furthermore, the rise in the competition and poor consumer confidence are also likely to hamper the growth of the market in the near future.
Some of the leading players operating in the global vacation ownership market are Wyndham Worldwide Corporation, Starwood Hotels & Resorts Worldwide Inc., Marriott Vacations Worldwide, and Diamond Resorts International. The research report profiles these players and offers an in-depth understanding of the competitive landscape present in the global vacation ownership market. The report uses a Porter’s five analysis to explain the bargaining power of the buyers and suppliers and the threat of new entrants in the market. The report also identifies the business and marketing strategies of these players, their financial overview, investment plans, and their management styles for the coming few years in the global vacation ownership market.
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