If a well-deserved annual break conjures images of exciting getaways, holiday bonhomie, large family re-unions and activities that take your mind off work, it’s time to explore the wonderful world of timeshare. Today’s timeshare products are designed around the many profiles of vacation seekers and their holiday preferences. More importantly, timeshare today comes with a reliability tag that protects the customer in more ways than one.
In India, timeshare first made its presence in the mid-eighties. The early years saw many entrants who were more interested in leveraging the business opportunity behind it, than nurture an exciting new concept with the right commitment levels. Those early day detractions are long behind us now, and timeshare is here to stay in the country.
Timeshare in India is clearly a front runner in the travel and hospitality industry. Looking at a share in the pie, the timeshare resort base has grown by over 50% over the last six years. We have 3,50,000 families subscribing to timeshare in India and the estimated market exceeds 3.5 million.
Over the years, we have seen many international product concepts being adapted to Indian markets and customer preferences. Timeshare is another example of how a whole new vacation format successful in Europe and America, gave vacation seekers in India something exciting to look forward to.
In fact, timeshare has visibly changed colours to suit Indian conditions, transforming habits and vacation patterns in the country.
Another significant trend we have seen is the shared inventory model – where timeshare and hotels extend unused inventory through mixed-use offerings. According to Mr BS Rathor, Chairman, AIRDA, “The timeshare landscape in India will see radical changes with the advent of the global brands who would like to participate in India’s growth in the coming decade. Almost all major global hotel chains - Marriott, Starwood, Hyatt, Holiday Inn, and others have timeshare in their inventory.”
We have also witnessed serving up of new flavours, as part of the evolution curve of timeshare in India. This ranges from enhanced experiences that new age global travellers seek to setting up of timeshare resorts in undiscovered locations which have not been on popular tourist map. From Mr Rathor's future forecast, “Current and future growth will be in unchartered territories and undiscovered locations with great tourist potential - where timeshare activity will contribute to local commerce, employment and economic activity. There are visible changes in the delivery models of timeshare experiences – it is no longer just the location, but value adds around the holiday such as golf, trekking, river rafting, jungle safaris and new-adventure sport.
What does an AIRDA membership mean to resort owners and developers? AIRDA comes in as your industry partner, conscience keeper and business catalyst - with a wide portfolio of support services.
What does AIRDA mean to holiday seekers and prospective customers? AIRDA comes in to provide information and offer guidelines on making the right timeshare decisions.