GOLD COAST, QLD, Australia (April 8, 2015) — Vacation ownership heavyweight Wyndham Vacation Resorts Asia Pacific has hit a major industry milestone, welcoming the 50,000th owner to its WorldMark South Pacific Club.
A multi-billion dollar global industry, vacation ownership has seen a rapid rise in popularity over the past decade as cost-conscious consumers switch to club vacations as a way to save dollars over a lifetime of holidays.
The Wyndham Vacation Resorts Asia Pacific model grants Club owners yearly vacation credits to access holiday accommodation across a network of WorldMark South Pacific Club resorts, for the life of the Club (until 2080). These credits can be used to access accommodation at any of the 26 resorts throughout the Asia Pacific region that are in the Club’s portfolio.
The ownership milestone comes as the company also celebrates its 15th anniversary.
“We have grown from just one resort in Denarau Island, Fiji, in 2000 when we welcomed our very first vacation owner to the WorldMark South Pacific Club, to the company we are today with a portfolio of 26 Club resorts and 50,000 Owner families,” said Wyndham Vacation Resorts Asia Pacific President and Managing Director, Barry Robinson. “This significant milestone is the result of 15 years’ hard work and is testament to the popularity of this industry, which continues to grow in Asia and the South Pacific.”
Based on Australia’s Gold Coast, Wyndham Vacation Resorts Asia Pacific has grown to be one of the city’s largest private employers with more than 1,000 Gold Coast staff based at the Wyndham Corporate Centre in Bundall and across three Gold Coast resorts. Together with sister company, Wyndham Hotel Group – South East Asia and Pacific Rim, also based on the Gold Coast, the two companies employ more than 4,000 employees across five countries.
A far cry from the timeshare models of the seventies and eighties, which offered one-week a year in the same resort, vacation ownership as offered by Wyndham, is a flexible form of timeshare, which allows consumers to purchase access to a network of resort accommodation in advance for the cost of an up-front acquisition fee and an annual maintenance levy.
Depending on the number of vacation credits owned, and subject to availability and seasonal guidelines, holidays can be taken at any time during the year, in a variety of accommodation sizes.
“By purchasing vacation credits for your holidays in advance, you are securing your holiday accommodation against inflation, rental accommodation price increases and seasonal price swings, over a lifetime of holidays,” Mr Robinson said. “In Australia, rented holiday accommodation requires the payment of GST. Consumers do not pay GST on the purchase of Vacation Credits.”
Wyndham Vacation Resorts Asia Pacific also offers additional benefits to Club Owners, including access to its affiliate’s network and more than 4,000 resorts all over the globe through vacation exchange.
Research from AEC Group in 2013 calculated the Australian vacation ownership industry’s 2012 economic output at $616.5 million. The data illustrates a tourism sector outstripping the broader industry on key growth metrics including occupancy, visitor spend and satisfaction and domestic visitation.
The industry’s 2012 economic output grew 22.3% from 2009 and includes an incredible 48.4% growth in Gross Value Add, timeshare’s ‘bottom line’ economic injection.
Other key Australian timeshare industry facts include:
- Timeshare occupancy for 2012 was 90.4%, ahead of the industry average 70.9% (Source: Australian Bureau of Statistics Tourist Accommodation, Small Area Data, Australia, Mar 2012 to Dec 2012. Cat. No. 5506.0, Canberra)
- The number of Australian timeshare owners holidaying domestically grew 17% from 2009 to 2012, far ahead of the national domestic tourism growth of 9% (Source: Tourism Forecasting Committee, 2012)
- An annual visitor spend of $211.6 million in 2012 (on an average spend of $1,954 per party per trip), an 11% growth from 2009, while average spend industry-wide grew only 1% (Source: ibid)
- 90% of timeshare owners reported satisfaction with their most recent timeshare accommodation and 77% believed their ownership had already saved them money or would do so in the future.
PRESS RELEASE SOURCE: Wyndham Vacation Resorts Asia Pacific