Tuesday, December 20, 2005
TIMESHARE IS BOOMING
According to the latest report from Lodging Econometrics, in 2006, 39 timeshare projects are forecasted to open, having 3,998 dedicated timeshare units while ’07 will have 27 projects/3,699 units.
The total timeshare pipeline currently contains 111 projects being actively pursued by developers with 15,360 units. 56 of those projects are currently under construction, 41 are scheduled to start in the next 12 months, and 14 are in various stages of early planning. 41 of the projects contain a total of 3,074 fractional units. 63% of all pipeline projects are for new ground-up construction, while 37% are for the unit expansion of existing open and operating timeshare projects.
Casino destination areas are the most popular locations for development with 4,244 units in the pipeline, or 28% of the total. Oceanside vacation areas and theme park destinations follow, each having 17% of all pipeline units, then mountain and ski areas with 16%. Las Vegas is the most popular market with 26% of all pipeline units, followed by Orlando with 17%.
Marriott’s Vacation Club has 12 company-owned projects with 2,413 units in the pipeline, while Hilton has four projects with 1,108 units. Cendant’s two brands – Worldmark and Fairfield have a combined 14 projects/1,327 units. Patrick Ford, President of LE, commented, “Although the branded vacation clubs are developing most of the large projects, Timeshare is still pretty much a fragmented industry with 74 out of 111 projects in the Pipeline being constructed by smaller local and regional developers.”
The total timeshare pipeline currently contains 111 projects being actively pursued by developers with 15,360 units. 56 of those projects are currently under construction, 41 are scheduled to start in the next 12 months, and 14 are in various stages of early planning. 41 of the projects contain a total of 3,074 fractional units. 63% of all pipeline projects are for new ground-up construction, while 37% are for the unit expansion of existing open and operating timeshare projects.
Casino destination areas are the most popular locations for development with 4,244 units in the pipeline, or 28% of the total. Oceanside vacation areas and theme park destinations follow, each having 17% of all pipeline units, then mountain and ski areas with 16%. Las Vegas is the most popular market with 26% of all pipeline units, followed by Orlando with 17%.
Marriott’s Vacation Club has 12 company-owned projects with 2,413 units in the pipeline, while Hilton has four projects with 1,108 units. Cendant’s two brands – Worldmark and Fairfield have a combined 14 projects/1,327 units. Patrick Ford, President of LE, commented, “Although the branded vacation clubs are developing most of the large projects, Timeshare is still pretty much a fragmented industry with 74 out of 111 projects in the Pipeline being constructed by smaller local and regional developers.”
# posted by John @ 4:56 AM 
