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| Timeshare: Recession no deterrent
Mumbai: At a time when the travel and tourism industry is going through a solemn phase, one of its segments, the timeshare industry, seems recession-proof.
Members continue to transact for their holidays even as both international and domestic transactions are growing for the industry.
Statistics from RCI, the global leader in exchange holidays, show transactions by its Indian members grew 28 per cent year-on-year from January to November, 2008.
“Transactions into India from our international members witnessed 39 per cent growth in November 2008 over the same month last year. For January, we are seeing 51 per cent growth over the same period last year,” Radhika Shastry, Managing Director, RCI India, told Business Line.
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“Timeshare is a family product, offers many holidaying options, gives its patrons flexibility in terms of exchanging destinations for a certain amount, and people are committed to holidays; all these features prevent the industry from getting hit during hard times, which may impact tourism in general,” said Shastry.
In fact, while there are fears of slowdown hitting tourism in Goa, RCI says it has seen a 40 per cent growth in confirmations from its international members for the destination between November 2008 and January 2009.
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“A total of 1,427 member families (close to 5,000 guests) from other countries will be holidaying in RCI resorts in India between November 2008 and January 2009. These are predominantly from South Africa, the US, the UK and Australia,” she said.
RCI has more than three million members worldwide.
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