Vacation ownership has become a big part of how people travel all around the world. While the USA and other popular travel destinations like Europe and the Caribbean have embraced the timeshare lifestyle and luxury ownership resorts, other areas of the world are still waiting for the growth and opportunities that timeshares bring.
That’s where one of the world’s largest economies comes into play. Timeshare in China remains an industry that has yet to fully blossom—while there are a handful of resorts scattered around the massive country in areas like Shandong and Yunnan, it doesn’t come close to the thousands that are around the United States. As timeshare ownership companies and resort developers look for areas to expand, China’s potential cannot be passed up.
China is home to the world’s largest population, as well as an emerging middle class that is forming an entirely new type of consumer. As more and more Chinese citizens begin to fall into the categorization of “middle class,” the number of Chinese tourists will also grow exponentially. This is the primary factor that many experts believe will lead to timeshare growth there in the following years.
One brand new timeshare organization seems to be blazing a trail. Shanghai Xihong Vacation Club is headquartered in Yantai, a coastal resort town in China’s Shandong province. Their main resort, the Best Western Yantai Hotel, offers right-to-use vacation ownership contracts that can be purchased in two, five, or ten year increments. While the Shanghai Xihong Vacation Club currently only features one property, they have aggressive expansion plans to meet demand, and are already planning one in the vicinity of Disneyland Shanghai.
By some estimates, there are more than a billion Chinese tourists that take vacations every year. China’s size and wealth of popular destinations bodes well for timeshare companies and clubs like Shanghai Xihong. Interval International’s vice president and executive director for Asia/Pacific, Joe Hickman, states “This type of vacation opportunity…and the Chinese consumer are a perfect match for one another. The growing middle class has the disposable income and desire to travel.”
With about 200 RCI affiliated resorts and 16 Interval International affiliates, China is continuing to expand its presence within the timeshare industry and is attracting timeshare exchanges from other owners around the globe. For more news and updates on Chinese timeshares and related news, stay tuned to the SMTN blog!