If a well-deserved annual break conjures images of exciting getaways, holiday bonhomie, large family re-unions and activities that take your mind off work, it’s time to explore the wonderful world of timeshare. Today’s timeshare products are designed around the many profiles of vacation seekers and their holiday preferences. More importantly, timeshare today comes with a reliability tag that protects the customer in more ways than one.

In India, timeshare first made its presence in the mid-eighties. The early years saw many entrants who were more interested in leveraging the business opportunity behind it, than nurture an exciting new concept with the right commitment levels. Those early day detractions are long behind us now, and timeshare is here to stay in the country.

Timeshare in India is clearly a front runner in the travel and hospitality industry. Looking at a share in the pie, the timeshare resort base has grown by over 50% over the last six years. We have 5,00,000 families subscribing to timeshare in India and the estimated market exceeds 3.5 million.

Now in many desi flavours

Over the years, we have seen many international product concepts being adapted to Indian markets and customer preferences. Timeshare is another example of how a whole new vacation format successful in Europe and America, gave vacation seekers in India something exciting to look forward to.

In fact, timeshare has visibly changed colours to suit Indian conditions, transforming habits and vacation patterns in the country.

• Timeshare converted the reluctant Indian stereotype who would look at holidays as an intrusion into workspace. It also convinced him through logical dialogue about investing upfront in a concept that gave him a vacation plan, for 25 years or more. Something that was unheard of before for the average Indian prospect who has always been cautious, circumspect and playsafe. On the other hand, the younger set of customers these days don’t think twice about “paying now, holidaying year after year”.
• Timeshare has also blended into the Indian cultural landscape – embracing centres of pilgrimage, historic and heritage sites and other locations of unique tourist interest - such as backwater holidays, plantation visits, traditional ayurvedic health farms, and other outdoor experiences that are unique to the geography and landscapes of India. Timeshare is now part of this picture.
• Timeshare has brought into the country path-breaking international methods and practices for the hospitality sector. It has raised the bar on product, facilities, and the quality of service delivery – giving the international traveler and vacation seeker an “India Experience” that compares with the best with the world. If international timeshare players are opening their doors to us, our standards have to reflect the same concerns for comfort and convenience.
• Another global evolutionary trend we have successfully adopted is the concept of a self-regulated advisory body of resort owners and stakeholders in the industry joining hands to standardize processes, procedures, and share a common concern for the betterment of the industry. Looking at things from one point of view, the coming together – under AIRDA - also placed a focus on being fair to the customer.
• Timeshare also redefined customer profiles, from scratch. Industry leaders in the sector have worked hard to address the needs of the young, upwardly mobile professional who works hard and plays hard - with a product that is attractive in more ways than one. Today’s young professional is curious, outgoing, daring and wants to explore the world around him - he also wants to share his vacation time with people close to him. And that’s the kind of door we can knock on with a timeshare proposal.
• Along with orienting a fast-growing customer base, timeshare has also appealed to businesses already in the hospitality business, and entrepreneurs who are interested in looking at a timeshare resort, from scratch. So, on the one had you have existing players looking at mixed use or extending the product pie; on the other you have startups looking at timeshare as a viable new business opportunity.
• With timeshare taking root in the hospitality industry and showing encouraging signs of growth, it was a matter of time before large, international exchange companies set up base in India – to network with Indian timeshare companies and place India on the world map. This was a major step forward – giving timeshare owners in the country an opportunity to experience timeshare in other parts of the world, and give the international traveler a window to the myriad holiday experiences in India.

The horizon seems bright

Another significant trend we have seen is the shared inventory model – where timeshare and hotels extend unused inventory through mixed-use offerings. According to Mr BS Rathor, Advisor & Member Executive Committee, AIRDA, “The timeshare landscape in India will see radical changes with the advent of the global brands who would like to participate in India’s growth in the coming decade. Almost all major global hotel chains - Marriott, Starwood, Hyatt, Holiday Inn, and others have timeshare in their inventory.”

We have also witnessed serving up of new flavours, as part of the evolution curve of timeshare in India. This ranges from enhanced experiences that new age global travellers seek to setting up of timeshare resorts in undiscovered locations which have not been on popular tourist map. From Mr Rathor's future forecast, “Current and future growth will be in unchartered territories and undiscovered locations with great tourist potential - where timeshare activity will contribute to local commerce, employment and economic activity. There are visible changes in the delivery models of timeshare experiences – it is no longer just the location, but value adds around the holiday such as golf, trekking, river rafting, jungle safaris and new-adventure sport.