The future of the vacation ownership industry in the Maltese islands

Abstract

Vacation Ownership, also known as timeshare is an alternative type of accommodation arrangement offered to both locals and foreign tourists. The term Vacation Ownership means owning a unit within a resort that can be used for an agreed number of weeks over a specific period of time. In the past, timeshare used to be seen as a beneficial industry for many especially since demand for accommodation was not as high as it is nowadays. Over the years, different challenges surfaced that also caused the timeshare industry to suffer a negative reputation, leaving its future unsure. Several vacation ownership organizations were interviewed along with timeshare owners and the Malta Tourism Authority (MTA) in order to shed more light on the performance of the industry in Malta and understand where it will be heading in the future. The results proved that the timeshare industry will not remain as well-known as it was in the early years of its’ introduction. The timeshare model became harder to sell over the years and many companies are no longer seeing it a feasible market and are walking out. Nevertheless, there are still those that continue to see timeshare as a lucrative market. In order to succeed, these companies are investing in developing alternative holiday products and increasing their marketing. Those that are pro-active and are adapting to the changes are likely to succeed, causing the Vacation Ownership industry to shift from the traditional timeshare to a modern timeshare concept. In conclusion, the research suggests that more in-depth studies need to be done from companies involved along with more niche marketing. These companies shall also seek to expand their human resources and employ younger employees as the latter are able to bring in more fresh and innovative ideas that can help the Vacation Ownership industry to keep on moving forward.