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Chapter 1

The document discusses the history and development of the resort industry. It identifies factors like transportation that influenced resorts and how resorts have adapted over time. It also classifies different types of resorts based on location, amenities, and lodging properties like timeshares, condo hotels, and destination clubs.

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Chau Anh
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17 views

Chapter 1

The document discusses the history and development of the resort industry. It identifies factors like transportation that influenced resorts and how resorts have adapted over time. It also classifies different types of resorts based on location, amenities, and lodging properties like timeshares, condo hotels, and destination clubs.

Uploaded by

Chau Anh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 11

Copyright © 2012 John Wiley & Sons, Inc.

Photograph Courtesy of SuperStock

RESORTS:
AN INTRODUCTION
Learning Objectives
Identify the major factors influencing the
development of the resort industry.
Identify the various ways resorts can be classified.
Place different types of resort offerings on a time-
equity continuum.

Copyright © 2012 John Wiley & Sons, Inc.


21st Century
Lodging, Recreation and Entertainment concepts are
merging.
Long weekends are replacing long vacations.
Increased popularity of multi-generational family
gatherings.
More multi-use resort destinations.
Resort waterparks are growing and getting bigger.

Copyright © 2012 John Wiley & Sons, Inc.


21st Century
Adventure sports are going mainstream.
Movement from natural to man-made facilities.
Every outdoor sport will have an indoor version.
New structures and enclosures cover large spaces
affordably.

Copyright © 2012 John Wiley & Sons, Inc.


Lessons
The history of transportation has, to a large extent,
determined where, when, and what types of resorts have
evolved.
The desire for pleasure travel is deep-rooted.
Resorts began as seasonal operations. To minimize the
risk of relying on one season of the year, resorts developed
year-round attractions and appealed to the group market.
Resorts develop through life cycles. To be successful,
resorts have had to adapt to changes in transportation,
consumer tastes, demographics, and competition.

Copyright © 2012 John Wiley & Sons, Inc.


Types of Resorts
Proximity to Primary Market
Setting and Primary Amenities
Residential and Lodging Properties
traditional lodging
timeshare or vacation ownership
condominium hotels
destination clubs

Copyright © 2012 John Wiley & Sons, Inc.


Timeshare
Locations
Growth
Attractive to hotel companies
Europe
Important features
Purchase motivation

Copyright © 2012 John Wiley & Sons, Inc.


Timeshare Options
Fixed week option
Floating week option
Points-based memberships
Club concept

Copyright © 2012 John Wiley & Sons, Inc.


Condominium Hotels
Guests buy fee-simple equity in the unit
Ownership structure
Mixed-use project with a hotel and a primary residence
piece
Mixed-use in a resort area with a hotel where the condo
can be used as a second home

Copyright © 2012 John Wiley & Sons, Inc.


Other
Destination Clubs
Mixed-Use Developments
high cost of amenities.
Second-Home Developments
primarily of second homes and does not include a resort
hotel.
 Resort condominiums.
 Small, low-density residential communities
 Single-family developments
 Large planned communities

Multiuse Resort Communities


Combines two or more of the above categories of
facilities
Fractional ownership

Copyright © 2012 John Wiley & Sons, Inc.


Time-Equity Continuum
PURE TIME
 No equity – no responsibility
 Vacation rental
 Time share
 Destination club
 ______________________________________________________
 Fractional and Private Residence Club
 Elite Fractional
 Pure Ownership
PURE EQUITY
 100 percent real estate ownership – 100 percent responsibility
 

Copyright © 2012 John Wiley & Sons, Inc.

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