What a great show and fabulous venue for ARDA World 2018 in Las Vegas! Fortunately, my top takeaways from the event strongly suggest that what happens in Vegas isn’t staying in Vegas: Trends point to continued good times for the vacation ownership industry and its customers.
1. Consolidation will continue in the vacation ownership industry
Expect more mergers and acquisitions. Case in point: Marriott Vacations Worldwide’s recent deal to buy Interval Leisure Group. The mature, well-capitalized industry and its growth prospects are driving consolidation, which brings more resources to bear to better serve timeshare owners.
2. Millennials represent a promising new market
The number of American millennials has surpassed the number of Baby Boomers, with the leading edge of millennials now entering prime timeshare buying years. They offer strong prospects for timeshare because they:
- Embrace the sharing economy.
- Prefer experiences to material possessions.
- Grew up taking timeshare vacations.
3. 2017 growth set a record
Preliminary results from the 2018 State of the Industry Report show that total timeshare sales in 2017 exceeded $9.6 billion, more than 4% higher than prior year, despite the impact of major hurricanes in Florida and the Caribbean.
4. The focus on customer journey and experience is rising
Fully aware that they are competing with everything from online booking sites to home-sharing vacation alternatives for consumer leisure travel dollars, vacation ownership companies aren’t resting on their laurels. There is a lot of interest in better understanding the timeshare customer journey and improving the overall owner experience. We had a sell-out crowd at the first-ever interactive forum called Lead to Loyalty: A Vacation Owner’s Journey, sponsored by Nordis Technologies.
Even as we look ahead, it’s appropriate to offer our appreciation for all of the good work that’s already been accomplished. So congratulations to the ARDA Circle of Excellence ACE Award winners!
About the Author
Bryan joined Nordis Technologies in 2016 to manage and grow the company’s already-large vacation ownership client base. He also is responsible for business development and market expansion in the healthcare and financial services markets. Before joining Nordis, Bryan spent more than 21 years with Interval International, a leading global provider of vacation ownership services. Bryan graduated from Northwestern University with a bachelor of science in political science.