Russia, Asian markets could offset time-share slowdown
Despite the financial crises engulfing the United States and the euro zone, time-share operators and developers in the Asia-Pacific region believe emerging markets such as Russia and Asian countries will enable the sector to maintain healthy growth in Tha
The issue is being addressed at the three-day “Alternative Ownership Conference Hotels and Resorts Asia Pacific” (AOCAP 2011) event, being held at the Shangri-La Hotel Bangkok until today.
AOCAP has gathered together more than 150 vacation experts and executives to provide a platform for resort developers and operators in Southeast Asia to discuss new concepts and marketing plans.
“At this moment, the financial crises in the US and Europe have not resulted in signs of a slowdown in time-share business in Thailand,” said Andrew Langdon, senior vice president of Jones Lang LaSalle (Thailand).
However, the real-estate agency expects to witness a more substantial impact on the industry next year, especially in regard to buyers from those troubled markets.
Langdon added that during last couple of years, the agency had seen an increase in demand from emerging countries such as Russia.
According to the Tourism and Sports Ministry, the Kingdom last year received 644,678 visitors from Russia, up 91 per cent from the 366,965 welcomed in 2009.
Thanks to Pattaya and Phuket being the most famous tourist destinations among Russian tourists, hotels and resorts in those areas have high potential for time-share operators and developers to boost their business, he added.
Meanwhile, Paul Dean, principal of Dean and Associates and an AOCAP advisory board member, said Phuket and Pattaya were also very interesting for both foreign visitors and investors, especially the international hotel chains that underline the time-share business.
He cited the Marriott Vacation Club, Starwood’s Vacation Ownerships and Wyndham Vacation Resorts as operating this kind of business as well as expanding their portfolios in the Kingdom.
Additionally, Asian markets such as Singapore and Hong Kong appeal to branded time-share operators and developers in Thailand because of the value-for-money prices of Bt1 million per unit.
Langdon said the number of new luxury condominiums as well as infrastructure development in Pattaya and Phuket were the crucial factors for time-share
operators.
“With these given factors, we strongly believe that the increased number of tourists from Russia, Singapore and Hong Kong could offset the slowdown from the US and the euro zone,” he added.
