Timeshares are Bulletproof Says Hotel Interactive at VOIC, Vacation Ownership Industry Conference
Friday, October 8, 2010
This week after being part of the VOIC (Vacation Ownership Industry Conference) in Orlando, Florida, Glenn Haussman, Editor in Chief for HotelInteractive, offered some very interesting (and affirming) observations about the timeshare industry, which he describes as “bulletproof”. Haussman is a knowledgeable resource in the hospitality industry, and it is good for many timeshare developers, management companies, and timeshare owners to hear his assessment, as some have wondered if they have actually been dodging bullets.
Haussman says that despite the troubled economy, the timeshare industry has been, “the one major bright spot for the past two years.” He points out that in a time of ‘staycations,’ timeshare owners have taken advantage of their pre-paid vacation experiences.
Howard Nusbaum, President and CEO of the American Resort Development Association (ARDA), added to the good news message saying, “Timeshare occupancy and rate have not been hurt. … There is a resilience because of the prepaid nature of timeshare. No matter what has been going on, we continue to grow.”
Timeshares Bulletproof, but with an Achilles Heel
While Howard Nusbaum noted that many of the factors that have hurt other aspects of the vacation industry, such as the Energy Crisis of the 1970’s; the Gulf War in the 1990’s; and the 2001 terrorists attacks of September 11, have failed to impact timeshare sales or timeshare vacationing. But what has hurt the industry, he points out, was the collapse of Lehman Brothers and the tightening of the credit market which makes it harder to finance the consumer purchase of new timeshares, harder for timeshare companies to maintain marketing and sales staffs and harder for developers to build new, enticing timeshare resorts to attract buyers.
Overall, this week’s VOIC event has been remarkable and is yet another example of the timeshare industry working together, partnering, and supporting one another as it evolves to better serve consumer needs.
