The US Vacation Ownership Market Continues to Evolve with AR & VR, Demand Rising Amidst Shifting Consumer Preferences- Arizton

CHICAGO, May 11, 2023 /PRNewswire/ — According to Arizton’s latest research report, the U.S. vacation ownership market will grow at a CAGR of 7.22% during 2022-2028 and reach USD 15.31 Billion by 2028.

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Browse In-Depth TOC on the US Vacation Ownership Market     

72 – Tables             
54 – Charts             
191 – Pages 

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.

The U.S. Vacation Ownership Market Report Scope

Report Attributes

Details

Market Size (2028)

USD 15.32 Billion

Market Size (2022)

USD 10.08 Billion

CAGR (2022-2028)

7.22 %

Base Year

2022

Forecast Year

2023-2028

Market Segmentation

Type, Occupancy, Owner Type, and Region

Geographic Analysis

U.S. (South, West, Northeast, and Midwest)

Market Dynamics

·  Significance of Point-based Vacation Ownership

·  Growth of Tourism & Hospitality Industries

·  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.

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Market Trends & Opportunities

High Occupancy Rate
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.

Virtual Reality & Augmented Reality in the Vacation Ownership Industry

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.

Significance of Point-Based Vacation Ownership
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.

Key Company Profiles

  • Wyndham
  • Marriott Vacations Worldwide
  • Hilton
  • InterContinental Hotels Group
  • Disney
  • Bluegreen Vacations Holding Corporation
  • Exploria Resorts
  • Breckenridge Grand Vacations
  • Westgate Resorts
  • VI Resorts
  • Somerpointe Resorts
  • Capital Vacations
  • Expectations Club
  • Royal Holiday
  • Raintree Vacation Club
  • Multi Resort Ownership Plan
  • Royal Aloha Vacation Club
  • Landex Resorts International

Market Segmentation

Type

  • Timeshare Ownership
  • Fractional Ownership
  • Club Ownership 

Occupancy

  • Owner Guest
  • Renter
  • Exchange Guest
  • Marketing Guest
  • Vacant

Owner Type

  • Generation X
  • Baby Boomers
  • Millennials
  • Silent Generation
  • Others

Region

  • The U.S.
    • South
    • West
    • Northeast
    • Midwest

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Table of Content

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

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 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

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 INTRODUCTION

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 MARKET OPPORTUNITIES & 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 TYPE

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 OCCUPANCY

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 OWNER TYPE

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 REGION

16.1 MARKET SNAPSHOT & GROWTH ENGINE

16.2 REGION OVERVIEW

17 SOUTH

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 WEST

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 NORTHEAST

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 MIDWEST

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 COMPETITIVE LANDSCAPE

21.1 COMPETITION OVERVIEW

22 KEY COMPANY PROFILES

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 OTHER PROMINENT VENDORS

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 REPORT SUMMARY

24.1 KEY TAKEAWAYS

24.2 STRATEGIC RECOMMENDATIONS

25 QUANTITATIVE SUMMARY

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 APPENDIX

26.1 ABBREVIATIONS

About Us:                     

Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.                   

We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.                    

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SOURCE Arizton Advisory & Intelligence

Originally published at https://www.prnewswire.com/news-releases/the-us-vacation-ownership-market-continues-to-evolve-with-ar–vr-demand-rising-amidst-shifting-consumer-preferences–arizton-301822108.html
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