Vacation-ownership rental inventory expected to increase

Hotel & Motel Management, Sept 20, 2004 by William Atkinson

Just as the timeshare business in general is continuing to grow, rentals will do the same, according to Alex Fogel, senior v.p., resort management, for Fairfield Resorts.

"People are becoming a lot more interested in the comforts and conveniences that they offer," he said. Peter Giamalva, president of Holiday Network, agreed.

"The future is bright," he said. "Timeshare development is growing at a double-digit rate, so there will continue to be new inventory available."

Another reason for the increased popularity of rentals is that more hotel companies have gotten into the business, according to Howard Nusbaum, president of the American Resort Development Assn.

"Renting is also becoming a lot easier," he said. "Years ago, people had to do things such as call a local chamber of commerce to get names of places to stay. Now, they can research it all and make reservations online."

Probably the most important reason for the increased popularity of rentals, though, is a shift in demographics.

"More and more people are interested in renting condominiums for their vacation stays, rather than hotel rooms," Nusbaum said. "This is especially true of those who are traveling with their children and their parents."

Giamalva also noticed this trend.

"I call it multigenerational travel, where couples go on vacation with their children and their parents," he said.

According to Giamalva, vacation rental accommodations give these extended families privacy of a place to sleep and the comfort of being able to spend time as a family.

hmm@advanstar.com