Welcome to our comprehensive exploration of the vacation ownership industry, often referred to as timeshares. The sector has made significant developments in recent years in response to changing consumer preferences, regulatory changes and global events. The global market, valued at USD 18.83 billion in 2023, is expected to show robust growth, increasing to USD 31.08 billion by 2030, registering a compound annual growth rate (CAGR) of 7.58% during the forecast period 2024-2030.One
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North America is the dominant force in the vacation ownership industry, accounting for a significant 77% share. It is closely followed by Europe and Asia Pacific, contributing around 20% to the market.
In 2023, timesharing sales in North America amounted to $14.48 billion, followed by $10.5 billion in the U.S., $3.77 billion in Europe, and $3.76 billion in Asia-Pacific, reflecting regional market share distribution. The top four players in the industry – Wyndham, Marriott Vacations Worldwide, Hilton Grand Vacations, and Holiday Inn Club Vacations – have proven their dominance in the market, generating over $10 billion in sales in the same year. Strategic partnerships have expanded market presence and local suppliers have responded to local preferences through innovative products and strategic alliances.
Solving the challenges of time-sharing turbulence
Despite promising growth, the vacation ownership industry faces significant challenges that pose obstacles to market stability due to economic uncertainty, regulatory complexity, prohibitive maintenance costs, and limited flexibility. However, industry players are showing resilience as they adapt their strategies to overcome challenges and sustain growth.
In 2020, timeshare sales temporarily declined due to the COVID-19 pandemic, resulting in a 45% year-over-year decline in sales. But the industry rebounded quickly, with sales surpassing pre-pandemic levels by 2022, driven by pent-up demand and growing consumer confidence in vacation ownership.