1. A case of time share industry
Somnath dixit
(student)
Indian Institute of tourism and travel
2. Introduction
A house or apartment that is shared by two or more owners, each with
the right to live in it at different times of the year, or
the legal arrangement for sharing the property (cambridge Distioniaries .
Share of single property into different owers for limited period of
time .
In the early 1960s expanding on a vacation system that became
popular after World War II Vacation home sharing, also known
as holiday home sharing, involved four European families that
would purchase a vacation cottage jointly, each having
exclusive use of the property for one of the four seasons.
3. The department of
statistics and
economic of tourism
of the world tourism
organization invites
stake holders in the
time share business
and export in national
account.
4. • Time share rentals.
• Time share rental is depended on time share contract .
• There are third parties that will rent timeshares on behalf of
their owners , one-time event and annual occurrence. Broker
will find a suitable renter in exchange for fees and
commissions. In addition to a hands-off experience for the
owner, third parties typically handle the money transfer as
well.
5. • Time share industry comes on secondary market.
• In time share industry, resale transaction involve the owner
permanently transferring his or her deed or right to their
timeshare to another party.
Rental involves the owner temporarily transferring all or part
of their week or interval to another party, without the transfer
of ownership.
6. Some types of time share
• Fixed-week ownership:- According fixed week; the resort will
have a calendar enumerating the weeks roughly starting with the first
calendar week of the year. An owner may own a deed to use a unit for a
single specified week. For example, week 26 normally includes the Fourth
of July holiday , week 51. If an owner owned at a resort he or she could
use that week every year.
• Floating-week ownership:-Sometimes units are sold as floating
weeks. The ownership will be specific on how many weeks the owner
owns and from which weeks the owner may select for the owner's stay.
7. • Rotating ownership:-They are sold as rotating weeks and
commonly referred to as flex weeks. In an attempt to give all owners a
chance for the best weeks and the weeks are rotated forward or backward
through the calendar so in 1 year the owner may have use of week 25
then week 26 in 2 year and then week 27 in 3 year . This method give each
owner a fair opportunity for prime weeks but it is not flexible.
• Vacation clubs:- Major hotel chains are as Hilton Accor,
and Marriott have introduce their own Vacation Ownership Programs.
which are based on point systems and the share of membership sold is
either deeded or with right to use the club's services for a certain number
of years.
8. In India
• In India , time share industry growing with good growth.
• According economic Times, time share industry riped grow in 2001-
2014.
• Timeshare holidaying takes new contours:- Girish Rao, TNN Apr 23,
2004, 02.28am IST
BANGALORE: Western influence on Indian timeshare holiday
makers and the business model as a whole appears to be on the
rise. Gifting holidays to parents and newly married friends, and
family reunions, are being noticed more often among timeshare
members here. There is serious interest among developers to offer
their properties, especially service apartments, to timeshare
business closer to the city centre, because of the increasing
demand by members.
9. • Another trend is the sharp contrast between the destinations
chosen by conducted or package tour Travellers and timeshare
holiday makers. The US, which is predominantly a business
Travellers destination, from India, figures at the top of the
timeshare holiday maker's demand list (2002, 2003 and advance
booking indications in 2004). Orlando, Las Vegas, Toronto and
Montreal among others, are hugely popular, and account for nearly
a fourth of the time share members who head overseas.
• Asia comes second only to North America, while Australia and New
Zealand are growing in demand now. Europe gets only 15-18% of
the time share holidaymakers, compared to the holiday package
buyers where it is the leader by a huge margin.
10. • Time-share may be a better pick for investors than hotels
Rajesh Naidu, ET Bureau Mar 29, 2013, 06.46AM IST.
• Investors planning to take an exposure to the hospitality sector may be
better growing their holdings in time-share and vacation ownership
resorts companies and given their dependence on domestic travel and the
strong potential for growth in the coming quarters.
• At a time when other segments in the hospitality industry are struggling,
vacation ownership resort companies have performed reasonably well.
Mahindra Holidays, which has a 72% market share of India's vacation
ownership market has reported a better growth than hotels companies.
11. AIRDA
(All India Resort development Association)
• Timeshare first made its entry into India a little over twenty
years ago, bringing in the never-before concept of long-term
vacation ownership. Initial formats were just a roof over your
head, in a holiday setting – the attraction those days was a
one-time purchase that gave you free holidays, year after year
after year.
• Today, there’s more to it than a long term calendar. The
timeshare space is fast changing colour with a spectrum of
offerings – exotic locations, modern amenities, theme cuisines
and professional sport and fitness gurus as holiday
evangelists. You even have locations that offer golf and
extreme sport as part of the package.
12. All India Resort Development Association.
AIRDA is an independent, non-profit advisory dedicated
to the timeshare and vacation ownership industry.
• The AIRDA working blueprint operates at three levels. At
Level One, it offers resort developers a constructive
platform to share ideas and strategies on the running and
promotion of timeshare. It also works with developers to
cut a clean image in the industry and offer fair value on
holiday packages to customers.
13. • Level Two is where AIRDA plays an advisory role with end-
customers and users of vacation ownership and timeshare -
offering guidelines and tips on choosing the right timeshare
packages. A key objective here is to raise awareness levels of
consumer rights and responsibilities - where AIRDA could also
play the role of an ombudsman, on disputes between
developers and customers.
• At Level Three, AIRDA can act on behalf of members and
represent its concerns to influencer circles and government
departments that have timeshare and vacation ownership
under their purview.
14. Example of time share.
Pankaj Gupta loved his annual
vacation. The Bangalore-based
businessman's favourite
destination was the Nilgiri hills on
the Karnataka-Tamil Nadu border.
In 1996, when he heard of the
concept of timeshare vacations,
pioneered in India by Sterling
Holiday Resorts Ltd, he bought
into it. He paid close to Rs 1 lakh,
which allowed him a week each
year in any of Sterling's 11 resorts
in the country, for the next 25
years. For him, the added
attraction was that Sterling had
two resorts in Ooty - Fern Hill and
Elk Hill. But his first timeshare
holiday in the summer of 1997
was a nightmare.(business today
in.)
15. Review of literature
• The world tourism organization, focus on time share
Industry because it’s a long term business.
• In Indian ,Time share industry gives benefits
in financial and good source of revenue. gao and
south india states work on time share industry.
16. • Conversion of old hotel into new property
which is good source of earning.
• A timeshare industry creates jobs for long
term period.
• A timeshare industry great contribute to
developed infrastructure of country .
