The statement of Geoff Ballotti, president and CEO of Group RCI that Australia is the most sought-after timeshare location these days is making waves for the Australian timeshare market. He made the said statement during his address in the 2009 Australian Timeshare and Holiday Ownership Council (ATHOC) conference.
Out of the 4400 resorts that RCI own, it is in Australia that timeshare owners would like to go for their vacation. The said information is yet to be validated but it surely shows that timeshare developers are looking at strengthening timeshares in Australia.
Once timesharing is furthered in Australia, the possible market that can be developed in the country may be big enough to assist the timeshare business in other countries. It may demonstrate that the market of timeshares in the US and other European cities is close to saturation. And advancing timesharing in Australia expands the overall market of timeshares.
One good thing about the Australian timeshare market is the readiness of the Australian Securities and Investments Commission to safeguard its people from fraudulent companies. Laura Younger, the general manager of the Australian Timeshare and Holiday Ownership Council, stated that the timeshare industry is one of the industries that is strictly regulated by the investments commission of the country. They require companies to have financial services license and clear paper work and sales presentations.
With the said system on hand, timesharing in Australia should be much safer for vacation goers. At the same time, the jury is still out as to the resale ability of the Australian timeshare market . The industry will surely examine closely what happens in this burgeoning marketplace.
Filed under: Timeshare Industry, Timeshare News | Tagged: Australian Timeshare and Holiday Ownership Council, RCI, timeshares in Australia |