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Market
Specific
By Jacquelyn Kalis
In business, there is no one-size-fits-all key to success.
Take global food titan McDonald’s, for example, which strives to tailor its
products to the desires of each market it enters, all while maintaining
consistent standards. Beneath the golden arches, from America to
Argentina, you can expect to find its oft-praised fries and numerous
takes on a burger. But there’s also the McAloo Tikki (a spiced potato-
croquette sandwich) in India and breakfast with cucumbers, tomatoes,
and olives in Turkey. Chicken porridge in Malaysia; empanadas in Chile.
The list goes on, and is constantly changing.
This same approach holds true for the vacation ownership industry.
Smart development and ongoing improvements take into account the
cultural differences, desires, and travel patterns of target markets,
which can distinctly vary — or prove surprisingly congruous — from
region to region, says Sharon Freed, Interval’s senior vice president of
consumer marketing. Recognizing the importance of up-to-date data
on an international scale, Interval commissions research to provide a
valuable resource for industry partners.
“When developers sell to a global audience, they need to under-
stand that there are similarities and differences that exist around the
world,” says Freed. “Interval’s consumer research serves as an invalu-
able tool to gain insight into the key factors that drive timeshare
purchases in each region.”
Interval’s most current statistics include findings from its first-ever
surveys of members in the Asia/Pacific and Australia/New Zealand
regions. Together with Interval’s recent U.S., U.K., and Latin America
membership profiles, produced by hospitality consulting firm HVS, the
results offer important information for resort developers directly from
timeshare owners. The data run the gamut from who members are and
what they own to what they look for in a timeshare purchase and how
they like to vacation.
Among the key findings: Satisfaction with timeshare ownership is
high across all markets surveyed, ranging from 75 to 85 percent.
Demographics were similar across the board, as well: The vast majority
of members are married, with average household incomes in excess
of US$100,000. Yet stark differences arise when it comes to travel
patterns, with the overall amount of leisure-travel days and lengths of
vacations varying significantly in different regions.
Interest in purchasing additional timeshare also differed, with less
demand in the U.S. and the U.K., where multiple-week ownership was
already common among those surveyed. However, Latin America mem-
bers showed the greatest interest in purchasing additional timeshare
(34 percent) — particularly notable given that 49 percent already own
two or more weeks. Demand in Asia was close behind, with one-third
expressing interest in buying additional vacation ownership property.
RESORTDEVELOPER.COM
vacation industry review
JANUARY – MARCH 2015
12
INSIDER
Global Insight from Interval’s Membership Studies
Randy Faris/Corbis