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Saturday, September 11, 2010

Transfer Smart News: Hawaii’s Timeshare Industry Shows Resiliency

Although the recent years depict a number of challenges for the timeshare industry, it still showed resiliency. Some of the common challenges include the increasing number of owners trying to get out of their timeshares and the negative perception of many consumers about it. Despite these, Hawaii’s timeshare inventory will continue to grow with another 4,881 units in the pipeline. It shows that the concept of vacation ownership has remained resilient throughout the economic downturn. This is according to an industry survey conducted by the Hawaii chapter of the American Resort Development Association.

In 2009, capital expenditures in Hawaii for the timeshare industry totaled $138.7. According to the survey, it will close out at $64.3 million this year. Among the newest timeshare properties opening later this year is the Wyndham Royal Garden at Waikiki which is the latest addition to Wyndham Vacation Ownership’s Hawaii portfolio.

According to Eric Penningroth, Wyndham’s regional vice president for the Hawaii, the first phase of the Wyndham Royal Garden which will include approximately 140 time-share units and 68 condominiums, will open in mid-November with a grand opening scheduled for February.

On the other hand, the American Resort Development Association which represents vacation ownership and resort development interests stated that Hawaii’s timeshare industry posted $400 million in sales last year and grew to 8,601 timeshare units in 87 properties.

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