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PussyLover 69
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Report from The Nation dated Monday 28 May 2007 ;-
Time-shares take off in Asia
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The business of hoilday time-sharing is on the rise in Asia while it has slowed to stable one-digit growth in Europe and the United States, where it has existed for 30 years.
Time-sharing is a form of holiday ownership that gives members of a group the right to use a house or other accommodation at a holiday resort, typically for a week each year, for 10 to 50 years. In Thailand, the cost for joining such a group averages Bt300,000 with an additional annual fee, which is usually US$300 (Bt10,400).
To serve the growing demand for time-sharing in Thailand, three associations - the Thai Vacation Ownership Association, the Australian Timeshare & Holiday Ownership Council and the Malaysian Holiday Timeshare Developers' Federation - have joined hands to form what is expected to be called the Asia-Pacific Timeshare Federation.
Vittayen Muttamara, president of the Thai Vacation Ownership Association, said the three associations planned to draft a code of conduct for the sector in July and officially establish the federation in November.
Joseph Hickman of Interval International said Asia had seen dramatic growth in time-sharing since 1995 as the result of restrictions on the business in the West, especially in Europe. He also said the US had tightened its regulations for travellers, while the Middle East struck many Asians as dangerous.
Gonzalo Maqueda Cornejo, a travel-industry executive in Singapore, said several factors were driving the growth of time-share plans in Asia: the rise of middle-class families throughout the region, but especially in China and India; a desire by experienced travellers to stop buying packages from travel agents; and the rapid growth of low-cost airlines in the region.
Vittayen is a senior executive at the Quality Vacation Club. He said the club expected to gain 3,000 new members by the end of the year, which will be 100-per-cent growth from last year. The club has arrangements with eight hotels, resorts and serviced apartments in Bangkok, Pattaya, Samui and Phuket.
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Posted on: 9:38 pm on May 27, 2007
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