Vacation Ownership Market Size
Owning a Vacation In 2023, the market was worth $11.9 billion, and it is expected to grow at a rate of over 8% per year from 2024 to 2032, thanks to more mergers and acquisitions among major operating organizations. Acquisitions have become a way for big companies to grow their businesses and market presence. These services let businesses reach new clients and markets, as well as offer more products and services, which gives them a competitive edge.
For example, Hilton Grand Vacations Inc. officially bought Bluegreen Vacations in January 2024. The all-cash deal, which is worth around $1.5 billion, expands HGV's products, including consumer and retail mining, to make HGV the top provider in the vacation ownership experience sector.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vacation Ownership Market Size in 2023 | USD 11.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 8% |
| 2032 Value Projection | USD 23.7 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 300 |
| Segments covered | Timeshare, Ownership, Age Group, Usage and Location |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Also, mergers and acquisitions typically create synergies and make operations more efficient, which increases demand in the market. So, because of things like the economy and more people wanting to go on vacation, the vacation ownership timeshare market is likely to keep growing.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Vacation Ownership Market Size in 2023 | USD 11.9 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 8% |
| 2032 Value Projection | USD 23.7 Billion |
| Historical Data for | 2021 – 2023 |
| No. of Pages | 260 |
| Tables, Charts & Figures | 300 |
| Segments covered | Timeshare, Ownership, Age Group, Usage and Location |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
The vacation ownership (timeshare) industry is getting more popular as big corporations get more awards and recognition. Recognition and accolades for providing great service, coming up with new ideas, and working to be more environmentally friendly have made important people in the sector more well-known and trustworthy. These awards not only promote the company, but they also boost consumer confidence, which leads to more seasonal demand. Also, organizations that are known for great customer service and high-quality products are likely to get more market share.
For example, in April 2024, Holiday Inn Club Vacations Incorporated, a global vacation ownership company, announced that it had won 12 American Resort Development Association (ARDA) awards. The ARDA Circle of Excellence (ACE) award, which is the highest level of professional excellence, was one of these honors.
The rise of digital platforms and online booking channels has made it easier to find vacation ownership and timeshare options, which has led to more demand in the market. Thanks to easy-to-use websites, mobile apps, and online marketplaces for different things, people can now purchase holiday homes. These features make it easy for customers to look up, compare, and book places. This enhanced openness and accessibility has made the vacation ownership business more democratic, which has made many customers happy and helped the market thrive.
The vacation ownership market is popular, but it has significant problems that are keeping it from growing. One huge problem is that people typically don't like timeshares because of how they were sold in the past. Some businesses have employed aggressive sales practices, and it can be hard to get out of the contracts. Also, consumers are less likely to buy timeshares when the economy is bad. All of this makes customers less likely to acquire timeshares, which reduces sales and leads to more rules, which makes it extremely harder for firms in this field. There are now more methods to discover places to stay, such holiday rentals and websites where you can book your own room. This is another concern. This makes it harder for regular timeshare companies to stay in business. To get over these problems, the timeshare business needs to work together to be more open, earn customers' trust, and stay on top of the market as it changes.
Vacation Ownership Market Trends
The vacation ownership business is growing because more and more organizations are adding good things to their portfolios. Companies are buying or building new properties in popular vacation spots to get more business and suit customer needs. Companies may offer potential clients a wide choice of vacation options, from beach resorts to mountain retreats and city getaways, by diversifying their portfolios. Companies can enter new markets and get more clients by building up their infrastructure. These patterns show how the sector has changed over time and how corporations are always trying to come up with new ideas and compete in the space ownership market, which is always evolving.
For example, in March 2024, Marriott Vacation Clubs, which are the vacation ownership brands run by Marriott Vacations Worldwide, announced The Marriott Vacation Clubs City Collection. The collection had properties that used to be called Marriott Vacation Club Pulse in seven cities that are still open.
Vacation Ownership Market Analysis
There are three basic choices when it comes to timeshares1. Fixed-WeekYou can pick a certain week each year to stay at your selected resort. This guarantees you a place to stay on vacation and is perfect for families that want to plan their trips ahead of time. 2. Floating-WeekWith this choice, you don't have a fixed week set aside for you. You can pick any week that works for you instead. This provides you more options, but if you don't book quickly, you can end up with a week that isn't as good. 3. Points-BasedInstead of being granted a specific week, you get points that you can use to book any available time at the resort of your choice. This choice gives you the most freedom, but it could also cost more than the others. By 2032, the property insurance market is estimated to be worth more than $8 billion. This is because more and more individuals are buying timeshares, which means they need more insurance to keep them safe. One of the best things about timeshares is that they promise you a trip every year. People who like to plan their travels ahead of time can find this very appealing. You may also relax knowing that you'll always have a somewhere to go on vacation, even when everyone else is traveling.
The vacation ownership market is split into deeded and right-to-use based on who owns the property. In 2023, the deeded category had a big market share of almost 57%. With deeded ownership, customers get legal ownership of a certain property or room in the resort for a set amount of time, usually forever. People who acquire this type of house feel relaxed. This kind of property investment is similar to typical real estate in that it gives buyers the freedom to plan vacations for a long time, the chance for the property's value to go up, and the ability to pass the property on to heirs.
Imagine thisyou're dreaming of the perfect vacation, where you can get away from your daily life and make memories that will last a lifetime. You're in luck if you live in North America! There are so many amazing places to visit in our continent, from beaches with lots of sun to mountains that reach the sky. But let's be honestvacations can get expensive fast. That's when vacation ownership comes in. It's like owning your own piece of heaven without spending a lot of money. You can buy a piece of a lovely resort that has everything you could want and utilize it every year to make amazing memories. The best part about owning a vacation home is how flexible it is. You can pick the time and place you wish to go without having to plan every little thing. Vacation ownership has you covered whether you choose to spend your days relaxing by the pool or exploring new routes. If you live in North America and love to travel and make memories that last, vacation ownership is the perfect thing for you. It's the best way to get away, see new things, and make the most of your vacation time.
There is a lot of demand for vacation ownership (timeshare) in the US right now, and there are a number of reasons for this. People in the US cherish their vacations and look for ways to have fun that are cheap and easy. Timeshare ownership is a great option because it gives you access to luxurious lodgings and resort facilities at a much lower cost than staying in a regular hotel. Also, US tourists can use these companies to see new places and have fun, which creates demand in the country.
Vacation Ownership Market Share
Marriott Vacations Worldwide and Hilton Grand Vacations own more than 23% of the vacation ownership (timeshare) market. Companies that offer vacation ownership timeshares work hard to meet the needs of their customers. These initiatives include new ways to market, such targeted ads and promos that are meant to entice potential customers to buy. To keep current owners and attract new ones to the resort, companies spend money on improving the customer experience through personalized services, special benefits, and improvements to the resort itself. So, the demand for vacation ownership timeshares is going up, which will lead to growth and profits.
Vacation Ownership Market Companies
Major companies operating in the vacation ownership (timeshare) industry are
- Bluegreen Vacations
- Disney Vacation Club
- Hilton Grand Vacations
- Holiday Inn Club Vacations (IHG)
- Hyatt Residence Club
- Marriott Vacations Worldwide
- Vidanta Resorts
- Welk Resorts
- Westgate Resorts
- Wyndham Destinations
Vacation Ownership Industry News
- In March 2024, iVaCay announced that it is launching an ICO campaign aimed at transforming vacation ownership. This program gave participants early access to VacayCoin, a new platform that tokenizes vacation properties.
- In January 2024, Travel + Leisure Company, a leading membership and leisure travel organization, revealed an agreement to buy the vacation ownership division of global hospitality leader Accor in exchange for a U.S. deal of $48.4 million.
- In May 2024, ARDA’s announced its monthly AIF Leisure Ownership Sentiment Index, reflecting the ongoing optimism among timeshare owners in the first quarter of 2024 for travel. The index provides a monthly overview of timeshare owners’ sentiment and expected future actions.
The vacation ownership (timeshare) market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) from 2021 to 2032, for the following segments
Market, By Timeshare
- Fixed-week
- Floating -week
- Points-based
Market, By Ownership
- Deeded
- Right-to-Use
Market, By Age Group
- 15-25 years
- 26-35 Years
- 36-45 Years
- 46-55 Years
Market, By Usage
- Individual
- Group
Market, By Location
- Beach resorts
- Deeded
- Right-to-Use
- Mountain resorts
- Deeded
- Right-to-Use
- Urban areas
- Deeded
- Right-to-Use
- Theme parks
- Deeded
- Right-to-Use
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
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