India Timeshare Avoiding the Recession
Monday, January 12, 2009
Until recently, timeshare, in the US, along with other parts of the world, has grown at an excellent rate. After all, the market is global and there are always new timeshare buyers and timeshare renters and new “hot” timeshare destinations.
But when timeshares sales fail to increase by the leaps and bounds the resort industry is accustomed to, (as it has in the US in 2008) we focus on the industry cutbacks and forget that in other parts of the world, the industry is strong. For example, despite the soft economy and recessionary environment in many parts of the world; India timeshare sales are soaring.
According to the Hindu Business Line, Ms Radhika Shastry, Managing Director of RCI India, says “Transactions into India from our international members witnessed 39 per cent growth in November 2008 over the same month last year. For January, we are seeing 51 per cent growth over the same period last year. Timeshare is a family product, offers many holidaying options, gives its patrons flexibility in terms of exchanging destinations for a certain amount, and people are committed to holidays; all these features prevent the industry from getting hit during hard times, which may impact tourism in general.”
While India timeshare developers feared a slowdown in Goa, RCI (Resort Condominium International) reports instead that the region experienced international membership growth from November 2008 until early January 2009 of around 40 percent. Hindu Business Line goes on to quote Ms. Shastry as saying that more than 1400 member families (or roughly 5,000 guests) from South Africa, the US, Australia, and the United Kingdome have visited RCI India timeshare resorts since November.
Good news to hear when after the layoffs and cutbacks in the US!
