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Topics Concept of vacation ownership Various vacation ownership products Resort life-cycle theory
1983 first timeshare law passed in Fla, USA 1980s lots of unethical developers selling non-existent properties
1970s converted hotel projects in USA 1964 Ski resort in the Alps
By Legality
Deeded
By Facility
Mixed-Use Timeshare Resorts
Fractional Timeshare Resorts Private Residence Clubs
Fixed Week
Right to Use
Float Week
Leasehold
Point Purchase
Float Week
Consumer has access rights to a specific unit for a specified range of weeks within a year
Float unit
Consumers usage period (week) is fixed but the actual unit used may vary, but must be of same class/type (i.e. one bedroom) as per contract
Fixed week
Consumer has access to vacation accommodation and resort useage for a set week each year for duration of contract
Leasehold
Similar to Right to Use At end of lease property reverts back to developer Leasehold period of use is shorter than Right to Use
Golf oriented resort units have 2 bedrooms with 2 beds each to accommodate foursomes
Rejuvenation
Sustainable Growth
Involvement
Decline
Exploration
Involvement
The developer refines their marketing and sales approach to increase the identified potential customer to the area Includes onsite and offsite marketing programs
Consolidation
Market has now matured in both level of competition and consumer demand Marketing is key to developers success Tactics include product differentiation, lower pricing
Decline
This phase can be impacted both positively and negatively depending on previous competition levels Developer may introduce new versions of product, new distribution methods, price reductions to rejuvenate interest If these are not successful then arrival levels to area will drop
Quality
$9,000 - $17,000 One room unit, 800 sq ft or two room unit, 1,400 sq ft
Up-market
$15,000 - $25,000 One room unit 1,000 sq ft or two room unit 1,800 sq ft
Value
$7,000 - $10,000 One room unit, 800 sq ft or two room unit, 1,000 sq ft
Economy
$5,000 - $8,000 Studio, 600 sq ft, one room unit, 900 sq ft