Caribbean Leaders Told To Facilitate Timeshare
Vacation Ownership is the fastest growing sector within the hospitality industry and Caribbean leaders are being urged to enact legislature to facilitate and benefit from a business grossing millions in the United States annually.
Timeshare/vacation ownership is an alternative to purchasing a vacation home. It involves the sale of a vacation accommodation in increments of one-week periods and allows the typical vacationer the opportunity to holiday in condo-style accommodations with family while encouraging repeat vacations. Industry pioneers believe that timeshare is on the verge of taking off in the Caribbean, which is being described as the most sought after international destination. Robert Nusbaum of the American Resort Development Association spoke at the 9th annual Vacation Ownership Investment Conference in Orlando on Tuesday this week.
He told participants that niche markets in the region with an eco tourism demographic in penetrating the vacation ownership market because they offer more than a typical hotel experience. But he said local governments need policies in place for the industry to grow and expand - in parallel with developers and the natural beauty of the destination. Another major hindrance to timeshare in the Caribbean region is the airlift problems to several destinations. Industry experts say that air fare should be accessible and affordable to allow families to travel easily several times a year for timeshare to be successful. It's an industry which is highly profitable for both developers and buyers.
It is targeted toward the largest generation of Americans whom Nusbaum referred to as the "rational rich," who want a flexible vacation product and top-of-the-line services in spacious surroundings. Timeshare has various elements: fractional interest/ private residence clubs and destination clubs, which allows vacationers to strategize on what is best for them.
» Government Prepares Condominium Tax
» Developments And Enviroment In St.Maarten
» More buyers want studios and one-bedroom homes
