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Timeshare will increase tourism to Dubai
- September 24, 2005, 5:23 am
Timesharing will significantly help Dubai meet its tourism objectives over the next decade, according to David Clifton, Interval International’s managing director for Europe, the Middle East, Africa and Asia. He was speaking at the Timeshare and Resort Investment Conference (TRIC) in Dubai recently.
“Dubai and the Middle East have set a clear objective to become the next tourism destination of choice,” said Clifton.
“Developments all around the region testify the great determination of its governments to see this become a reality. Tourism will be one of the key drivers of this region’s economy and wherever tourism starts to flourish, timeshare becomes a key in the equation for success.
“The key factors are all there a cosmopolitan atmosphere, creativity, a strategic location at the crossroads between Europe and Asia as well as great shopping. Timeshare is a major piece of the puzzle that will help drive intra-regional as well as international visitors to Dubai and Arabia.”
Clifton explained that timeshare is a highly profitable industry for developers, pointing to financial opportunities.
“Timeshare developments have higher year-round occupancies and tend to be more resilient in economic downturns than most hotels. Integrating timeshare segments into mixed-use resorts provides developers with multiple profit centres.”
“Developers can generate substantial profits, speed up their cash flow, spread their risk and still receive the benefits of the asset, which reverts to them at the maturity of the timeshare programme.”
One of the key elements to making a timeshare project successful is having an international exchange component that gives the timeshare owner flexibility.
For example, Interval provides its customers with the ability to stay at about 2,000 resorts located in more than 75 countries and make their dreams come true.
More than 100 tourism leaders met to discuss the potential of timeshare in the region, as well as debate the implementation of timeshare developments across the Middle East. Sales in the industry are currently worth more than $10 billion, with 5,500 resorts with 7.5 million owners worldwide.
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