Unlocking Opportunities in the Vacation Ownership Market: 2025-2034 Forecast Report

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What Will the Vacation Ownership Industry Market Size Be by 2025?_x000D_
In recent times, the vacation ownership market has seen robust growth. The market, pegged at $19.03 billion in 2024, is projected to reach $20.75 billion in 2025, with a compound annual growth rate (CAGR) of 9.1%. This growth trend during the historical period can be traced back to factors such as improved understanding of the advantages of vacation ownership, an increasing millennials' interest in travel, the proliferation of vacation ownership resorts, the escalating trend of fractional ownership, and the rise in leisure time._x000D_
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What's the Long-Term Growth Forecast for the Vacation Ownership Market Size Through 2029?_x000D_
The market for vacation ownership is predicted to witness significant expansion in the forthcoming years, scaling up to $28.97 billion in 2029 at a CAGR of 8.7%. A surge in disposable income, an expanding middle-class demographic, growth in the travel and tourism sector, rising demand for luxury and comfort in vacation experiences, and increasing urbanization are driving this growth. Key trends for the forecasted period involve technological advancements, a consumer shift towards experiential travel, availability of finance options, synergy between the hospitality and real estate sectors, and the emergence of new business models._x000D_
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What Are the Key Growth Drivers Fueling the Vacation Ownership Market Expansion?_x000D_
The growth of the vacation ownership market is expected to be fueled by the surge in international tourism. International tourism involves individuals traveling to foreign countries for pleasure, business, or any other reasons, and encompasses the entire process from planning and traveling to the activities and services enjoyed while in the foreign country. The rise in international tourism is due to enhanced global connectivity, increased disposable income, and a growing fascination for diverse cultures and travel experiences. Vacation ownership plays a crucial role in international tourism as it provides cost-effective and adaptable high-quality accommodations in popular destinations, ensuring a uniform and pleasing experience. For example, a report issued by the United Nations World Tourism Organization, a specialized agency based in Spain, revealed that in the first quarter of 2023, international tourist arrivals jumped to 80% of the levels before the pandemic, reaching approximately 235 million travelers. This is more than double compared to the same period in 2022. The tourism sector demonstrated remarkable resilience, with updated figures for 2022 showing that over 960 million international tourists traveled overseas, which is a recovery of 66% of the numbers prior to the pandemic. As a result, the vacation ownership market is being driven by the rise in international tourism._x000D_
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What Are the Key Trends Driving Vacation Ownership Market Growth?_x000D_
Major firms in the vacation ownership market are building technologically sophisticated platforms, such as proprietor acknowledgement systems, to improve customer satisfaction and optimize administrative procedures. These platforms are essentially systems built to recognize and award ownership rights and status of individuals, common in the vacation ownership, real estate, and loyalty program industries, with an objective to deliver customized services and benefits. For example, in July 2024, Marriott International Inc., an American hospitality firm, introduced the ONVIA, a platform specially designed to recognize residence owners. The ONVIA platform is a fully exhaustive residence owner recognition system aimed to enrich experiences in various scenarios, i.e., stays at Marriott Bonvoy hotels, The Ritz-Carlton Yacht Collection, and day-to-day living within their residences. ONVIA not only expands on the benefits existing for homeowners, it also adds a variety of customized offerings, promising an exclusive and enhanced level of service._x000D_
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How Is the Vacation Ownership Market Segmented?_x000D_
The vacation ownership market covered in this report is segmented - _x000D_
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1) By Type: Fixed Week, Floating Week, Points-Based System_x000D_
2) By Tour Type: Domestic, International_x000D_
3) By Booking Channel: Phone Booking, Online Booking, In-Person Booking_x000D_
4) By Application: Private, Group_x000D_
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Subsegments:_x000D_
1) By Fixed Week: Single Fixed Week, Multiple Fixed Weeks _x000D_
2) By Floating Week: Single Floating Week, Multiple Floating Weeks _x000D_
3) By Points-Based System: Vacation Points, Travel Club Points_x000D_
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Which Companies Are Leading the Charge in Vacation Ownership Market Innovation?_x000D_
Major companies operating in the vacation ownership market are Marriott International Inc., Accor Vacation Club, Hilton Grand Vacations Inc., InterContinental Hotels Group (IHG), Travel + Leisure Co., Wyndham Hotels & Resorts Inc., Grupo Vidanta, Westgate Resorts, Bluegreen Vacations LLC, The Ritz-Carlton, RCI (Resort Condominiums International), Vistana Signature Experiences Inc., Diamond Resorts International Inc., Holiday Inn Club Vacations Inc., Interval International, Inc., Central Florida Investments Inc., Grand Pacific Resorts Inc., Welk Resort Group, Shell Vacations LLC, HV Global Management Corp., Silverleaf Resorts Inc., Disney Vacation Club, Karma Resorts Pte Ltd., Four Seasons Residence Club, Sierra Corp. _x000D_
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Which Regions Are Leading the Global Vacation Ownership Market in Revenue?_x000D_
North America was the largest region in the vacation ownership market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vacation ownership market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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