II recently announced that its travel subsidiary, Worldwide Vacation & Travel, Inc., has developed a short-term vacation program that will offer resort developer clients a more affordable product for consumers in today’s changing marketplace.
Developers are finding themselves in need of a less expensive product and Interval’s short-term vacation program will augment their traditional sales opportunities, “said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, the parent company of Interval International.
This new product can be utilized as an enhanced multi-year form of trial ownership that may include accommodations at the home resort and other properties and the ability to exchange through Interval’s worldwide network. In addition, the program will feature access to specially priced resort rentals and comprehensive year-round travel, leisure, and lifestyle benefits.
Developers’ have been doing what they call exit programs for many years. They are offered to clients after they have taken a tour and have not purchased a timeshare. It enables the developers a way to sell the client a smaller ticket item and part or the entire price goes towards that purchase of a timeshare. Win win for the developer.
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What is the difference between a normal timeshare and term vacation program .
Normal or ‘traditional” timeshare is where you vacation for one week at a time. Short term vacation program was recently introduced by Interval International, which entitles a gold member to vacation for 2-6 days at a time. These vacations are booked on line 30 days or less in advance. There is a $139 fee for the exchange. This means an II gold member can use his/her traditional week to take 2 or three vacations , with the short stay vacation program.
Hope this is helpful.
Syed