The Golden Age of Timeshare

Timeshare … Though the word may bring back fond memories of annual family holidays to the seaside, the truth is that timeshares have developed a pretty bad reputation over the years. Horror stories of devastating upkeep costs, rundown resorts, and owners so desperate to sell that they almost give them away for nothing have made the general public think twice about making an investment.

It seems recently that things are making a swift turnaround in the wonderful world of timeshare and that the T-word is, in fact, making a comeback. The prospect of buying a timeshare is resurging and appealing to a younger, more affluent generation.

“The golden age of timeshare is ahead of us, not behind us,” was the message from Howard Nusbaum, President and CEO of the American Resort Development Association (ARDA), during a recent visit to South Africa to address the 30th annual RCI OSCAS Gala Awards. He said that 2017 was a strong year for the global timeshare industry, which today spans the globe with 5,491 resorts and over 20 million timeshare owners. Nusbaum added that $19,7 billion was earned in revenue and that the industry contributed a notable $147 billion to the worldwide economy. “By traveling to these resorts, holidaymakers make a positive impact on the global economy by supporting nearly 1.3 million jobs, making the timeshare industry a true backbone communities,” he explained.

This is especially true in South Africa where the timeshare industry (also referred to as ‘shared vacation ownership’) generates employment for around 27 000 people and contributes billions of Rand to the GDP, according to a Grant Thornton survey undertaken by the Vacation Ownership Association of Southern Africa (VOASA).

To keep energizing the timeshare industry, Nusbaum said that the ARDA – together with the VOASA and other leaders of timeshare associations in Canada, Europe & the Middle East, Latin America, and Australia – have formed the Global Alliance for Timeshare Excellence (GATE). Through global networking, he believes that local markets and domestic consumers will benefit from information sharing and cross-border business relationships.

Commenting on regulatory control, Nusbaum said that the improvements are directly tied to the success of the industry and that many challenges and opportunities have been faced in the US and elsewhere around the world. “From a growth perspective and paths of opportunity, regulatory regime has done more for the confidence and safety of consumers, which has in turn fostered a more robust timeshare industry and formed the hinge around which the industry has turned for the better. I believe that the South African market has the best flexible of many local products, vacation experiences and human resources to make the changes necessary for a successful future and we are looking to South Africa for great things to come,” said Nusbaum.

According to VOASA, 74.2% of shared vacation owners in Southern Africa say that ownership has increased the degree to which they look forward to holidays. As many as 64% feel it has increased the amount of time they spend on holiday and 62.4% believe it has increased their health and happiness.

It seems that the golden age of timeshare is, indeed, ahead of us and is redefining the holiday travel industry by providing investors with better value for money plus more control of their future holidays. By purchasing a timeshare, more and more South Africans are seeing the benefits of locking into a lifestyle for many years to come at the prices of today and avoiding the constantly increasing costs of hotels. With the inherent flexibility of the investment, a timeshare enables you to choose the option that is best suited to your individual preference – whether it is a fun-filled family holiday or yearly pampering spa retreat. Your holiday choices are endless as a shared vacation owner.

To find out more, visit www.voasa.co.za.