TIMESHARE HAS BRIGHT FUTURE IN CHINA
Beijing Conference highlights potential for timeshare
Miami, FL, February 17, 2006 — Timesharing has a major role to play in China's tourism future, according to Joe Hickman, Interval International's chief representative for China and executive director Asia Pacifc, who was speaking at the Timeshare & Resort Investment Conference (TRIC) held in Beijing earlier this week.
"Timeshare is still in its infancy in China, but the potential is there. In 2003, the World Travel & Tourism Council (WTTC) presented a report to the Government of China. Within the report it is predicted that China's travel and tourism (international and domestic) will experience a growth of 33.6 percent. It also stated that in the next 10 years there would be an average annual travel and tourism growth of 10.9 percent. Timeshare is seen by the WTTC as an important and integral component of that growth," says Hickman.
Hickman explained that timeshare is a highly profitable industry for developers, pointing to financial opportunities. "Timeshare developments have higher year-round occupancies and tend to be more resilient in economic downturns than most hotels. Integrating timeshare segments into mixed-use resorts provides developers with multiple profit centres. The key factor to making timeshare successful is to do it the right way. We hope that the conference demonstrated how to achieve that success."
"Developers can generate substantial profits, speed up their cash flow, spread their risk and still receive the benefits of the asset, which reverts to them at the maturity of the timeshare programme," adds Hickman. One of the key elements to making a timeshare project successful is having an international exchange component that gives the timeshare owner flexibility.
More than 90 tourism leaders met to discuss the potential of timeshare in the region, as well as debate the implementation of timeshare developments across Asia. According to the ARDA International Foundation and Interval International, the industry generates sales in excess of US$11 billion, with an estimated 5,700 resorts in 95 countries and 7.2 million owners worldwide.
Conference sponsors included Fountain Vacation Ownership, LPS and Marriott Vacation Club International. The endorsers were Absolute Private Residence, Elong, Horwath Asia Pacific, HVS International, Malaysian Holiday Timeshare Developers, Pacific Asia Travel Association, Thailand Vacation Ownership Association, TransAsia Lawyers, Urban Land Institute, Wimberley Allison Tong & Goo, and World Travel & Tourism Council.
Interval International is celebrating its 30th year leading the vacation ownership industry as the exchange company of quality and innovation. Interval has a global network of more than 2,000 affiliated resorts in over 75 countries, and serves its developer clients and nearly 1.8 million member families, worldwide vacation owners, through 28 offices in 19 countries. The company provides a variety of exchange services and year-round travel-related benefits to enhance members' vacation experiences. Headquartered in Miami, Florida, Interval International is part of IAC, which operates leading and diversified businesses in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask Jeeves, Citysearch, Entertainment Publications, HSN, LendingTree, and Ticketmaster.
For more information contact:
Adrian Bascombe, Interval International
Telephone: +44 208 336 9573 | Fax: +44 208 336 9110
E-mail: adrian.bascombe@intervalintl.com
Steven Anthony, Interval International
Telephone: +65 6318 2510 Fax: +65 6318 2510
E-mail: steven.anthony@intervalintl.com
