Vacation Ownership (Timeshare) Market Size, Share, Growth and Global Industry Analysis by Type (Timeshares, Vacation/Travel Clubs, Fractionals, And, Others), Regional Insights, and Forecast To 2032

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VACATION OWNERSHIP (TIMESHARE) MARKET REPORT OVERVIEW

The global vacation ownership (timeshare) market size was USD 19.68 billion in 2023 and is projected to touch USD 36.36 billion by 2032, at a CAGR of 7.1% during the forecast period. Asia-Pacific holds leading position in vacation ownership (timeshare) market share in 2023.

Vacation ownership is also known as the timeshare market. Vacation ownership provides the chance and opportunity to share the accommodations during vacations and also their ownership. This is very often seen in the condominiums, resorts or hotels during trips to some of the popular regional and international destinations.

Recently there have been a lot of international tours both for business and recreational purposes. This factor has led to the development of the industry. Rising internet penetration, rapid urbanization and ameliorating economic growth are other factors driving market growth.

COVID-19 Impact: Reduced Demand for Tourism Market Decreased the Vacation Ownership (Timeshare) Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the vacation ownership (timeshare) market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic brought down the global economy. Many industries were badly affected and suffered due to the low demand. Because of the sudden lockdown and the restrictions that were imposed during to the pandemic there was a significant decrease in the amount of demand for tourism compared to the pre-pandemic level. This directly affected the market.

People became hesitant to move out of their homes because of the pandemic. Strict rules were also imposed that did not allow people to go from one place to another. Flying from country to country was also another challenge. Quarantine was a must for people who travelled to other countries. All of these factors led to the decline in the tourism industry. As a consequence, the vacation ownership (timeshare) market also suffered considerably. However, post pandemic when all the restrictions were removed there has been a boom in the market and it is also anticipated to grow substantially during the forecast period.

LATEST TRENDS

"Growing Trends of Business Travels to Increase Market Growth"

Tourism and vacation ownership (timeshare) market are two such markets that are rapidly growing, especially after the pandemic period. Several reasons can be attributed to the growth of these markets. Some of the latest advancements and trends that are seen have led to the growth of the industry.

The growing trends of business travels have been the latest advancement in the market. In addition to this, favorable demographics, technological developments and growing focus on health and wellness are some other factors that have increased the vacation ownership (timeshare) market share. Furnished accommodations with various other advanced facilities are being provided in the recent times to attract more customers. All of these are the new trends that can been seen in the industry.

VACATION OWNERSHIP (TIMESHARE) MARKET SEGMENTATION

• By Type

The market can be divided on the basis of type into the following segments:

Timeshares, vacation/travel clubs, fractionals, and, others. Timeshares segment is anticipated to dominate the market during the forecast period.

• By Application

Based on application, the market share is bifurcated into the following segments:

Private and group. The private segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Increasing International Tourism and Rising Internet Penetration to Amplify Market Growth"

There has been a boom in the market after the pandemic. The industry is also expected to witness a rapid growth during the forecast period. This will in turn increase the vacation ownership (timeshare) market growth. Recently there have been a lot of international tours both for business and recreational purposes.

Accommodations are a must during any trip. This factor has led to the development of the vacation ownership market where the ownership of a property would be shared. Apart from this, the growing range of population who travel very often is also driving the market growth. Both domestic and international trips add up to the market development. Rising internet penetration, rapid urbanization and ameliorating economic growth are other factors driving market growth.

Growing population of High Net-worth Individuals Globally to Boost Market Growth

According to the information provided by the world wealth report recently, there have been 720,000 new individuals with high net-worth. The report also states that the number will significantly increase in the future because of the growing urbanization and industrialization.

It is often witnessed that people with high income tend to go on regular vacations and trends. Many times, a lot of international business meeting, summits and conferences also take place which require accommodation facilities. Vacation owners are also providing in-room facilities and amenities such as kitchens, dining area and laundry arrangements. All these factors together have led to the vacation ownership (timeshare) market development.

RESTRAINING FACTOR

"High Annual Maintenance Cost Involved to Bring Down the Market Share"

The high annual maintenance cost that is involved in this industry acts as the major restraining factor. The cost keeps on increasing each and every year irrespective of whether the accommodations such as resorts and hotel rooms are occupied or not. This becomes a burden for the owner and can sometimes lead to heavy losses.

Apart from this the tough competition that is provided by the key industry players all over the world also bring down the global market share. Another constraint is finding skilled-staff that can satisfy the needs and necessities of the customers. The players have to constantly keep adopting themselves to innovative strategies to hold a strong position in the market. These are the factors restraining the market growth.

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VACATION OWNERSHIP (TIMESHARE) MARKET REGIONAL INSIGHTS

"North America to Dominate Market Share Owing to Increased Travel and Tourism "

The region that is observed to lead the market during the forecast period is North America. Followed by North-America is Asia Pacific. There are several reasons that have been attributed to the growth of vacation ownership (timeshare) market in North America. The increasing spending by people on travel is one major reason. The hospitality and leisure industries are also evolving day by day in North America. The customers are inclined to have unique vacation experiences. All of these factors are collectively contributing to the market growth in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List Of Top Vacation Ownership (Timeshare) Companies

• Wyndham (U.S.)
• Marriott Vacations Worldwide (U.S.)
• Hilton Grand Vacations (U.S.)
• Hyatt (U.S.)
• Diamond Resorts (U.K.)
• Bluegreen Vacations (U.S.)
• Disney Vacation Club (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations