How Vacation Ownership Is Succeeding Among High-Income Travelers
This key demographic is regularly exchanging to timeshare resorts.
A new report suggests that in certain categories, vacation ownership is outpacing the greater hospitality industry when it comes to attracting high-income travelers. Skift’s 2017 U.S. High-Income Traveler Survey reveals that in the past 12 months, 54 percent of high-income travelers took one or no extended leisure trips (defined as six or more nights), and that 46 percent of high-income travelers had not vacationed abroad. Respondents had a combined annual household income of $100,000 or more. On the other hand, members of RCI’s luxury-tier program, The Registry Collection®
Face time is one way timeshare resorts are reaching this valuable demographic. “While everyone is more connected today, our developer-affiliates report that whenever they can sit down with their affluent visitors and have a conversation about the offerings available, those travelers are interested in learning more,” says Gregg Anderson, global vice president of The Registry Collection® When face-time isn’t an option, Anderson says the virtual sales tool RCI® LiveStreamSM is a great alternative to interact with prospective owners as the tool’s functionality allows for the developer-affiliate to utilize web cam technology while simultaneously showing video or other onscreen graphics.
Another edge that timeshare has over the larger industry is the number of retirees among owners. Affluent travelers who choose not to go abroad may be concerned about time constraints, since international vacations often require two days for travel and therefore shorten a weeklong vacation to five days. But budgeting extra days isn’t a factor for a significant portion of timeshare owners. “Many of our members are wealthy retirees who have more free time for multiple vacations and the money to spend on new experiences,” Anderson says. He predicts international travel among high-income travelers will only grow: “As the global economy continues to strengthen, I believe that international travel for the affluent sector will both expand by the number of annual nights spent and into new destinations,” Anderson says.
Resorts looking to draw in more high-income travelers may want to expand their offerings to include tours and excursions. “The affluent will seek out experiential travel, and it is our job with The Registry Collection® program to ensure we provide those opportunities for them,” Anderson says.
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