History of vacation ownership in Asia

The vacation ownership business appeared in Thailand in the 1990s but subsequently all but vanished due to credibility issues. Unfortunately, many Thai consumers had associated the vacation ownership business with the actions of a fraudulent pyramid-scheme company, and the credibility of respectable vacation ownership business operators also suffered as a result.

After efforts in the late-1990s and early-2000s to put more strict guidelines and standards in place, the vacation ownership business has now re-emerged and seen significant growth since 2000. In 2013, consumer protection laws were improved (with significant input from TVOA) to support and protect consumers while ensuring vacation ownership operators in Thailand were held to high international standards and ethical practices.

Current state of the vacation ownership industry in Thailand and Asia

Though still a relatively new practice in Asia, the region boasts some of the best vacation ownership programs in the world thanks to an array of enticing destinations, emphasis on gracious hospitality and high-quality accommodation. According to the ARDA (American Resort Development Association), between 2013 – 2015 Asia experienced the largest increase in sales worldwide with a compound annual growth rate of 9.3%. According to the association’s 2016 Worldwide Shared Vacation Ownership Report, Asia’s vacation ownership industry boasted an output of USD 5,250 million and employed more than 73,000 workers.

In Thailand, there are now more than 50 companies operating in the vacation ownership industry totaling 55 resorts with 1,600 holiday apartments producing 728,000 bed-nights a year. Within the country, vacation ownership offerings service 41,400 families a year and contribute a significant sum to the Thai tourism economy every year. It also significantly supports local tourism employment, with an estimated total contribution of over 1,800 jobs in Thailand, mainly in areas that have significant unemployment.*

Holidays through vacation ownership programmes are enjoyed by 91,000 consumers every year, with other consumers staying in resorts either as a result of trial memberships products or purely by renting accommodation, directly or indirectly through operators or travel agents.

*Figures are based on the activity of companies which are members of TVOA.