The vacation ownership (timeshare) market size has seen strong growth in recent years, expected to rise from $16.60 billion in 2023 to $17.90 billion in 2024, at a compound annual growth rate (CAGR) of 7.8%. Factors contributing to this growth during the historic period include increased travel demand, higher disposable incomes, enhanced flexibility in timeshare options, improved marketing strategies, and greater consumer trust in reputable timeshare brands. In the coming years, the vacation ownership (timeshare) market size is forecasted to reach $24.27 billion in 2028, growing at a CAGR of 7.9%. This anticipated growth is driven by the rising demand for eco-friendly and sustainable vacation ownership options, an increased focus on appealing to younger generations with flexible and modern offerings, the personalization of vacation experiences, the growth of remote work opportunities encouraging longer stays and timeshare investments, and initiatives aimed at enhancing the ownership experience. Key trends during this forecast period include enhanced use of technology for seamless booking, management, and digital experiences, integration of health and wellness facilities and programs within timeshare properties, technological advancements, improved customer support and services, and the implementation of virtual reality and digital tours to showcase properties and attract buyers.
Major Driver In The Vacation Ownership Timeshare Market
The vacation ownership (timeshare) market is expected to experience growth fueled by the increasing international tourism trends. International tourism, defined as individuals traveling to destinations outside their home country for leisure or business purposes, is on the rise due to various factors such as growing disposable incomes, enhanced travel access through affordable transportation, advancements in technology simplifying bookings, and an increased focus on health and wellness. Vacation ownership (timeshare) significantly supports international tourism by providing affordable, pre-paid vacation options that encourage repeat visits to various destinations. According to the United Nations Tourism in May 2023, international tourism receipts reached USD 1 trillion in 2022, with over 960 million tourists traveling that year and 235 million visiting in the first quarter of 2023, which is more than double the same period in 2022. Therefore, the rising trends in international tourism are driving the growth of the vacation ownership (timeshare) market, with market size values for 2023, 2024, and projections for 2028 reflecting this increase.
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Vacation Ownership Timeshare Market 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
Key Vacation Ownership Timeshare Market Trend
Major companies in the vacation ownership (timeshare) market are pursuing strategic partnerships to develop advanced software for the seamless distribution of timeshare-by-owner supplies for the first time. These partnerships involve companies pooling their strengths and resources to achieve shared goals and enhance overall success, often resulting in innovative solutions and market expansion. For example, in May 2024, KOALA, a US-based timeshare rental marketplace, teamed up with Expedia Group Inc., a US travel technology company. This collaboration introduces features such as Vrbo connectivity for instant distribution, KOALA PRO for advanced management tools, and a proprietary transformation engine for data integration. This partnership modernizes the timeshare rental process, increases accessibility and visibility, and aligns with current travel trends, thereby driving growth in the vacation ownership market by attracting more users.
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Global Vacation Ownership Timeshare Market Segmentation
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
By Geography:The regions covered in the vacation ownership (Timeshare) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the vacation ownership (Timeshare) market in 2023.
The Vacation Ownership Timeshare Global Market Report 2024 furnishes information about the global vacation ownership timeshare market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
