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The US Vacation Ownership Market Continues to Evolve with AR & VR, Demand Rising Amidst Shifting Consumer Preferences- Arizton
The US vacation ownership market is anticipated to grow owing to growth in the travel and tourism industries. In addition, a rise in focus on health and wellness, increased disposable income, the popularity of tourist places, and the adoption of point-based timeshare drive market growth. Furthermore, the market is expected to be driven by increased internet penetration, rapid urbanization, economic growth, and international travel. Moreover, technological innovation and favorable demographics are other factors that contribute to the market's growth.
· Significant Urbanization
Vacation ownership is a shared ownership model of vacation property where multiple owners have an exclusive right to use a property for a period. Furthermore, owning vacation ownership also means the owner has the right to sell it. Based on owner type, the market is segmented into Generation X, baby boomers, millennials, the silent generation, and others. In 2022, the Generation X segment was the largest and accounted for a share of 36.69%, followed by baby boomers, millennials, silent generation, and others with 27.61%, 17.66%, 10.73%, and 6.37% shares, respectively. The millennial segment is expected to grow significantly in the near future. The US vacation ownership market is popular due to Gen X and baby boomers. However, millennials and Gen Zs are anticipated to drive the US vacation ownership market in the upcoming years.
Hotel occupancy rate is a key performance indicator in the hotel industry. It represents the percentage of a hotel occupied or an average percentage of several hotels' occupancy within a region. In 2022, U.S. occupancy gains and rate performance outpaced that in 2021, supported by health and leisure travel demand. In 2022, the occupancy rate increased to 82.6% and exceeded pracademic levels of 80.8%. Furthermore, in March 2022 , the revenue per available room (RevPAR) increased compared with 2019 levels.
AR helps an individual experience the virtual elements in the real physical world. The technology is valuable to the hospitality industry since hotels fundamentally sell a physical environment that can be augmented through AR. Moreover, the significance of technology in the vacation ownership industry increased in line with the shift in target demographics. Millennials are the dominant consumer generation, likely to employ digital technology and invest in VR and AR devices. AR and VR have gained considerable momentum and are expected to provide new growth opportunities in the U.S. vacation ownership market.
A point-based timeshare is a progressively popular alternative to owning a traditional, fixed week. It offers flexibility and convenience to owners, who can plan their vacations according to their preferences. A point-based timeshare is also obligated to exceptional customer service, personalized concierge services, and hotel and dining selections granting vacationers maximum enjoyment from their investments. Point-based timeshare gives an opportunity to members to explore destinations globally.
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY TYPE
4.4.2 MARKET SEGMENTATION BY OCCUPANCY
4.4.3 MARKET SEGMENTATION BY OWNER TYPE
4.4.4 MARKET SEGMENTATION BY REGION
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
7.1 MARKET OVERVIEW
7.1.1 MARKET TRENDS
7.1.2 MARKET OPPORTUNITIES
7.1.3 MARKET ENABLERS
7.1.4 MARKET CHALLENGES
7.2 SEGMENT OVERVIEW
7.3 COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 APPLICATION
8.2.1 HOTELS & RESORTS
8.2.2 CONDOMINIUMS & APARTMENTS
8.2.3 CAMPING GROUNDS
8.3 CONTRACT TYPE
8.3.1 DEEDED TIMESHARES
8.3.2 RTU TIMESHARES
8.3.3 LEASEHOLDS
8.3.4 BIENNIAL AND TRIENNIAL TIMESHARES
8.4 ECONOMIC & DEMOGRAPHICAL ANALYSES
8.4.1 POPULATION
8.4.2 INCOME
8.4.3 GENERATION & AGE TRENDS
8.4.4 RACIAL/ETHNIC TRENDS
9.1 HIGH OCCUPANCY RATE
9.2 VIRTUAL REALITY & AUGMENTED REALITY IN THE VACATION OWNERSHIP INDUSTRY
10 MARKET GROWTH ENABLERS
10.1 SIGNIFICANCE OF POINT-BASED VACATION OWNERSHIP
10.2 GROWTH OF TOURISM & HOSPITALITY INDUSTRIES
10.3 SIGNIFICANT URBANIZATION
11 MARKET RESTRAINTS
11.1 COMPLEX MERGERS & ACQUISITIONS
11.2 COMPLICATIONS IN THE PROMOTION OF TIMESHARE BUSINESS
11.3 HIGH MAINTENANCE COST
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 US TIMESHARE INDUSTRY: ARDA
12.2.2 HISTORIC DATA
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 TIMESHARE OWNERSHIP
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY REGION
13.4 FRACTIONAL OWNERSHIP
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY REGION
13.5 CLUB OWNERSHIP
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY REGION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 OWNER GUEST
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY REGION
14.4 RENTER
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY REGION
14.5 EXCHANGE GUEST
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.5.3 MARKET BY REGION
14.6 MARKETING GUEST
14.6.1 MARKET OVERVIEW
14.6.2 MARKET SIZE & FORECAST
14.6.3 MARKET BY REGION
14.7 VACANT
14.7.1 MARKET OVERVIEW
14.7.2 MARKET SIZE & FORECAST
14.7.3 MARKET BY REGION
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 SILENT GENERATION
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY REGION
15.4 BABY BOOMERS
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY REGION
15.5 GENERATION X
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY REGION
15.6 MILLENNIALS
15.6.1 MARKET OVERVIEW
15.6.2 MARKET SIZE & FORECAST
15.6.3 MARKET BY REGION
15.7 OTHERS
15.7.1 MARKET OVERVIEW
15.7.2 MARKET SIZE & FORECAST
15.7.3 MARKET BY REGION
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 REGION OVERVIEW
17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.2.1 FLORIDA
17.2.2 SOUTH CAROLINA
17.2.3 TEXAS
17.3 MARKET SEGMENTATION
17.4 TYPE
17.4.1 MARKET SIZE & FORECAST
17.5 OCCUPANCY
17.5.1 MARKET SIZE & FORECAST
17.6 OWNER TYPE
17.6.1 MARKET SIZE & FORECAST
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.2.1 CALIFORNIA
18.2.2 HAWAII
18.2.3 NEVADA
18.3 MARKET SEGMENTATION
18.4 TYPE
18.4.1 MARKET SIZE & FORECAST
18.5 OCCUPANCY
18.5.1 MARKET SIZE & FORECAST
18.6 OWNER TYPE
18.6.1 MARKET SIZE & FORECAST
19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.2.1 MASSACHUSETTS
19.2.2 PENNSYLVANIA
19.2.3 NEW HAMPSHIRE
19.3 MARKET SEGMENTATION
19.4 TYPE
19.4.1 MARKET SIZE & FORECAST
19.5 OCCUPANCY
19.5.1 MARKET SIZE & FORECAST
19.6 OWNER TYPE
19.6.1 MARKET SIZE & FORECAST
20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.2.1 MISSOURI
20.2.2 WISCONSIN
20.2.3 MICHIGAN
20.3 MARKET SEGMENTATION
20.4 TYPE
20.4.1 MARKET SIZE & FORECAST
20.5 OCCUPANCY
20.5.1 MARKET SIZE & FORECAST
20.6 OWNER TYPE
20.6.1 MARKET SIZE & FORECAST
21.1 COMPETITION OVERVIEW
22.1 WYNDHAM
22.1.1 BUSINESS OVERVIEW
22.1.2 SERVICE OFFERINGS
22.1.3 KEY STRATEGIES
22.1.4 KEY STRENGTHS
22.1.5 KEY OPPORTUNITIES
22.2 MARRIOTT VACATIONS WORLDWIDE
22.3 HILTON
22.4 INTERCONTINENTAL HOTELS GROUP (IHG)
22.5 DISNEY
22.6 BLUEGREEN VACATIONS HOLDING CORPORATION (BVH)
23.1 EXPLORIA RESORTS
23.1.1 BUSINESS OVERVIEW
23.1.2 SERVICE OFFERINGS
23.2 BRECKENRIDGE GRAND VACATIONS
23.3 WESTGATE RESORTS
23.4 VI RESORTS
23.5 SOMERPOINTE RESORTS
23.6 CAPITAL VACATIONS
23.7 EXPECTATIONS CLUB
23.8 ROYAL HOLIDAY
23.9 RAINTREE VACATION CLUB
23.10 MULTI RESORT OWNERSHIP PLAN
23.11 ROYAL ALOHA VACATION CLUB
23.12 LANDEX RESORTS INTERNATIONAL
24.1 KEY TAKEAWAYS
24.2 STRATEGIC RECOMMENDATIONS
25.1 TYPE
25.2 OCCUPANCY
25.3 OWNER TYPE
25.4 REGION
25.5 SOUTH
25.5.1 TYPE
25.5.2 OCCUPANCY
25.5.3 OWNER TYPE
25.6 WEST
25.6.1 TYPE
25.6.2 OCCUPANCY
25.6.3 OWNER TYPE
25.7 NORTHEAST
25.7.1 TYPE
25.7.2 OCCUPANCY
25.7.3 OWNER TYPE
25.8 MIDWEST
25.8.1 TYPE
25.8.2 OCCUPANCY
25.8.3 OWNER TYPE
26.1 ABBREVIATIONS
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