Australian Holiday Ownership Remains Strong In Spite Of Challenging Economic Climate
September 10, 2009 by Perspective Magazine | Timeshare & Fractional ReviewsDespite the current global financial climate, Australia’s holiday ownership industry continues to hold steady with strong occupancy rates according to RCI, the global leader in vacation exchange and one of the Wyndham Worldwide family of companies (NYSE: WYN).
Geoff Ballotti, president and CEO of Group RCI, will deliver the keynote address Monday, September 14 during the 2009 Australian Timeshare and Holiday Ownership Council (ATHOC) conference. Mr. Ballotti will discuss current global trends in holiday ownership and the stability and optimism for the future growth of the timeshare industry.
“While tourism overall has seen a decline in these recent economic times, timeshare occupancy rates remain strong, with almost 95 percent occupancy at Gold Coast timeshare resorts. This is compared to domestic hotel room occupancy levels around 74 percent,” Mr. Ballotti said. “These figures demonstrate the value consumers find in owning timeshare and being part of a global timeshare exchange company like RCI, which gives them access to more than 4,500 affiliated resorts in top holiday destinations around the world.”
According to ATHOC general manager Laura Younger, Australia is experiencing a resurgence of holiday ownership and is the second fastest growing tourism industry in the country.
“The growth of holiday ownership in Australia is second only to cruises, and the Gold Coast is a major regional hotspot,” Ms. Younger said. “The economic significance of Gold Coast timeshare is a direct and indirect output of $318.3 million a year for the local economy.”
Approximately 164,000 inbound international passengers conducted availability searches for Australian exchanges last year, according to RCI.
“Domestically, RCI’s more than 70,000 member families account for over 40 percent of the Pacific timeshare market and booked over a quarter million in domestic room nights in 2008,” said Charisse Cox, managing director of RCI Pacific. “In 2008 alone, more than 1.6 million holiday exchanges were facilitated by Group RCI globally, and the current rate of member holiday searches and confirmations indicates this figure will continue to grow.”
RCI continues to add more affiliated resorts to its exchange system, welcoming more than 60 new affiliations globally in 2009 and enabling RCI members to benefit from the world’s largest holiday exchange network offering a wider choice of holiday options.
Most recently, RCI announced the addition of Wyndham Vacation Resorts Asia Pacific Sydney and Seven Mile Beach, Tasmania to the RCI network through the affiliation of the WorldMark South Pacific Club.
“Holiday ownership ultimately has a beneficial flow on effect through to every sector of the local economy creating employment opportunities and increasing retail sales,” said Ms. Younger.
About Group RCI:
Group RCI, part of the Wyndham Worldwide family of companies, (NYSE: WYN) is the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 73,000 vacation properties in approximately 100 countries. The company is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection® program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals®, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, an international leader in providing a full spectrum of advisory, research, and asset management services. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit www.grouprci.com or the media center of www.wyndhamworldwide.com.
For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com
