New construction starts support the results of the American Resort Development Association’s (ARDA) research findings showing the timeshare industry to be one of the fastest growing. ARDA’s 2012 World Wide Shared Vacation Ownership Report showed North America topping the timeshare global list with the most properties—2500 resorts or 46 percent of the total market. Timeshare companies are actively involved in building and acquiring new additions to their properties.
Breckenridge Grand Vacations Peaking Again
Breckenridge Grand Vacations is breaking ground this summer on a new resort on its Peak 8 property. Reportedly being called the pinnacle resort within the community, the exclusive 75 residence resort boasts 28,000 sq. ft. of amenity space and 4500 sq. ft. of space for resort operations.
Welk Resorts Celebrates 50 years in the Business with Further Expansion
This year, Welk Resorts is celebrating its 50th anniversary. Supported by capital obtained by the completion of a $158.67 million securitization last December, Welk has plans for more development. In June, Welk completed their multimillion dollar renovation of the Welk Resort Branson. In December, the Northstar Lodge was officially opened as a Welk Resort. In the works for 2015 are 123 luxury units in Breckenridge, and by 2018, 164 units in Poipu, Kauai.
More New Construction Rumored
Silverleaf Resorts is building a new sales center and reportedly bringing in award-winning companies like Architectural Concepts to design a more contemporary look for their resorts. Rumor has it that Westgate Resorts is on the lookout for new sites to construct in Northern and Southern California.
Future Growth Predicted in New Global Markets
The World Wide Shared Vacation Ownership Report research indicated that timeshare’s future will include more growth in the global timeshare market (now nearing 2%). The research reports 5300 resorts in 108 countries supporting more than 1.1 million jobs and generating over $45 million in direct economic output in 2010. Findings also show that ownership is likely to expand to numerous countries, particularly Brazil, Russia, India and China.