LETTER FROM CHAIRMAN

December 2013

As another year ends, I glance at the looking glass to see reflections of the year gone by, for indications of the current picture, and new trends. Today, the timeshare industry in India is rather upbeat with around 350,000 timeshare owning families and a total industry turnover of US$ 150 million.

The last five years and more have been encouraging - visible contributors being the steadying forces in the economy and an encouraging rise in affluence and affordability. When the economy shows signs of recovery, it also benefits domestic tourism.

The ripple effects of any upswing in domestic tourism can be productive. It elevates the commercial buzz around tourist hubs through employment and small business viability.  This takes on relevance in states that largely depend on domestic tourism for revenues – the larger the revenue, the more these states can invest in development activity.

Within this significant tourism pie, vacation ownership is a fast evolving industry. And we are beginning to see visible changes in the delivery models of timeshare experiences – it’s no longer just the location, but the value additions the resort can offer. The new mix of engagement offerings is clearly aligned to the dynamics of younger prospects and what they expect on a vacation - such as golf, trekking, river rafting, jungle safaris and new-adventure sport.

Today’s consumer has a higher propensity to spend on planned vacations and there is a growing demand for holidays that offer the family unique holiday experiences - in newer, largely undiscovered tourist locations in the country.

But how have things changed around timeshare in India?

From a customer profile point of view, I see a change in trends, preferences and holiday interests over the years. What someone really looks forward to at forty years of age isn’t what he has in mind, post sixty. Today’s customer grows with you and grows older with you - and that’s the challenge resort owners need to look at and plan their activities around.

Having said that, there is a noticeable change in the mix of products and services offered by timeshare promoters. Over the years, holiday options have become diversified with some very different and varied holiday backdrops – and these include beachfronts, mountainsides, plantations, wildlife sanctuaries, inner healing and ayurveda locations.

Earlier, when timeshare was first launched, the big attraction was to be able to do your cooking on a holiday. So the typical format had a well equipped kitchenette and a mini-store on the premises to make things convenient.

Over the years, timeshare resort owners have seen a great opportunity in offering attractive F&B packages with 2-meal and 3-meal formats specially planned for the whole family. Some of these packages include lavish buffets with a really wide spread.

Another thing that has changed is the ability to exchange your plan. Timeshare customers with a home resort and memberships with exchange companies have an open calendar and a wide range of options, with affiliated resorts all over the world.

So if you want to greet the morning rays of January 01 in Goa, or Kerala, or other locations in our network, you can do it with timeshare. With some advance planning and scheduling you could also ring in the New Year at Bali, for example.

Let’s look forward to more in 2014. You have my best wishes for a wonderful round of celebrations as you count down towards the New Year.

Cheers!

B. S. Rathor
Chairman, AIRDA