Press release
Vacation Ownership (Timeshare) Market Set to Reach $26.14 Billion by 2029 with 7.81% Yearly Growth
Vacation Ownership (Timeshare) Market Size
In recent times, the vacation ownership or timeshare market has seen a robust growth in its size. The market value is predicted to increase from $17.9 billion in 2024 to $19.35 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.1%. Factors such as a surge in the demand for travel, rise in disposable income, more flexible timeshare options, better marketing tactics, and growing trust in reputable timeshare brands have contributed to the growth during the historic period.
The sector of holiday ownership, otherwise known as timeshare, is projected to witness significant expansion in the upcoming years, expected to rise to $26.14 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.8%. The factors that can contribute to growth during this forecast period include a surging interest in green and sustainable vacation ownership solutions, targeted strategies to attract younger demographics through modern and flexible offerings, tailor-made holiday experiences, the boost in remote working scenarios promoting extended stays as well as timeshare investments, coupled with actions designed to enrich the ownership experience. Key market trends during this forecast period encompass the increased utilization of technology for effortless reservation, administration, and digital encounters, incorporation of health and wellness facilities and schemes within timeshare properties, technological evolution, enhanced client support and services, along with the application of virtual reality and digital tours for property demonstrations to lure potential buyers.
What Are the Forces Behind the Rapid Growth of the Vacation Ownership (Timeshare) Market?
The growth of the vacation ownership (timeshare) market is set to be fueled by the burgeoning international tourism. This term signifies the practice of people visiting locations beyond their native country for various reasons, including leisure, business, or other objectives. The rise in international tourism can be attributed to elements such as an increase in disposable incomes, improved access to inexpensive travel, technological advancements that simplify booking processes, and an amplified emphasis on health and wellness. Vacation ownership (timeshare) bolsters international tourism by offering economical, pre-paid holiday plans that promote frequent travel to different locations. For instance, the Spain-based United Nations agency, United Nations Tourism, reported in May 2023 that international tourism receipts skyrocketed to USD 1 trillion in 2022. The same year saw over 960 million tourists, with 235 million visiting in the first three months of 2023, more than twice the same timeframe in 2022. Thus, the burgeoning international tourism is a significant driver for the expansion of the vacation ownership (timeshare) market.
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Who Are the Dominant Companies Influencing Vacation Ownership (Timeshare) Market Trends?
Major companies operating in the vacation ownership (timeshare) market are Marriott Ownership Resorts Inc., Grupo Vidanta, InterContinental Hotels Group (IHG), Hilton Grand Vacations Inc., Travel + Leisure Co., Wyndham Hotels & Resorts Inc., Westgate Resorts, Intrawest Resort Club Group, Bluegreen/Big Cedar Vacations LLC, RCI (Resort Condominiums International), Diamond Resorts International Inc, Interval International Inc., Grand Pacific Resorts, Welk Resort Group, Silverleaf Resorts Inc., Shell Vacations Club, Disney Vacation Development LLC, Anantara Vacation Club, Karma Resorts Pte Ltd, Raintree Vacation Club
How Is the Vacation Ownership (Timeshare) Market Evolving?
Leading firms in the vacation ownership (timeshare) market are embracing a partnership strategy to design sophisticated software for the initial distribution of timeshare-by-owner resources. These strategic collaborations entail companies harnessing their individual prowess and assets to mutually profit from unified objectives and boosted success, often resulting in inventive solutions and market expansion. For example, in May 2024, KOALA, a US-based timeshare rental marketplace, formed a partnership with Expedia Group Inc., an American travel technology corporation. This alliance introduces functionalities such as Vrbo connectivity for immediate distribution, KOALA PRO for enhanced management utilities, and an exclusive transformation engine for data integration. This partnership revolutionizes the timeshare rental procedure, improves access and visibility, and aligns with contemporary travel patterns, stimulating growth in the vacation ownership (timeshare) market by appealing to a larger user base.
What Are the Different Segmentations in the Vacation Ownership (Timeshare) Market?
The vacation ownership (timeshare) market covered in this report is segmented -
1) By Type: Fixed-Week Ownership, Floating-Week Ownership, Points-Based Ownership
2) By Location: Beach Resorts, Mountain Resorts, Urban Areas, Theme Park Resorts
3) By Ownership Model: Deeded Ownership, Right-To-Use Contract
4) By Application: Private, Group
Subsegments:
1) By Fixed-Week Ownership: Single Fixed Week, Multiple Fixed Weeks
2) By Floating-Week Ownership: Single Floating Week, Multiple Floating Weeks
3) By Points-Based Ownership: Vacation Points, Travel Club Points
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Which Region Is at the Forefront of the Vacation Ownership (Timeshare) Market?
North America was the largest region in the vacation ownership (timeshare) market in 2023. The regions covered in the vacation ownership (timeshare) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Vacation Ownership (Timeshare) Global Market Report?
- Market Size Analysis: Analyze the Vacation Ownership (Timeshare) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Vacation Ownership (Timeshare) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Vacation Ownership (Timeshare) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Vacation Ownership (Timeshare) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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