While the next generation sharing economy learn how to play in a world of shared assets, timeshare continues to build on an established $146 billion global industry with decades of experience in the sharing concept. As one of the earliest and largest examples of collaborative consumption, this successful model has made it possible for millions of families across the globe to enjoy the benefit of quality and luxury holidays.
The rise in inflation in the 1970’s propelled the growth of timeshare in South Africa as a more affordable way to vacation and now 50 years on, it still makes perfect sense!
The traditional high demand holiday destinations remain the most popular – namely the beach, berg and bush. Due to the favourable climate, particularly on the east coast, timeshare beach properties run at year-round occupancies in the 90% range with the bush and berg occupancies close behind.
Cream of the crop
And when it comes to the “cream of the crop” in accommodation, timeshare still offers more availability and choice. A study conducted by VOASA revealed that timeshare comprises 63% of the beachfront apartments in uMmhlanga, 60% of the apartments in the Drakensberg and 70% of the apartments in the Hazyview / Kruger Park area.
There’s also been a change in the travel patterns of timeshare owners and club members as more frequent, shorter vacations takes preference over the annual weeklong holiday. Looking ahead, timeshare will continue to reinvent holiday products and services backed by an industry that is passionate about creating quality vacations.