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Darla S. Zanini RRP Executive Vice President. Agenda  Understanding key generations  Travel trends by generation  Approach to planning travel  Vacation.

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Presentation on theme: "Darla S. Zanini RRP Executive Vice President. Agenda  Understanding key generations  Travel trends by generation  Approach to planning travel  Vacation."— Presentation transcript:

1 Darla S. Zanini RRP Executive Vice President

2 Agenda  Understanding key generations  Travel trends by generation  Approach to planning travel  Vacation rentals  Connecting with consumers

3 Understanding Generations

4 A Generational Snapshot SilentBaby BoomersGeneration XGeneration Y 1926-19451946 – 19641965 -19821983 - 2001 68 – 87 years old49 – 67 years old31 – 48 years old12 – 30 years old 35 million78 million55 million84 million 12% of population26% of population18% of population28% of population SecurityIndividualitySelf-relianceDuty Self-sacrificeSelf-fulfillmentBalanceComplexity I owe itI deserve itI need itBecause I can WWII vets dying at a rate of 600 per day Every day 10,000 Boomers turn 65 Currently the dominant family-rearing generation First millennials turn 30 in 2013

5 Silent Generation Defining Events Farm Life Great Depression New Deal World War II GI Bill Korean War Values Discipline Hard Work Dedication & sacrifice Respect for authority Duty before pleasure Honor Patriotism Loyalty

6 Baby Boomers Defining Events Civil rights & women’s rights Rise of communism Space travel Political assassinations Woodstock Vietnam War & the draft Watergate Values Optimism Teamwork Conformity Opinions Personal gratification Personal growth Work/jobs

7 Generation X Defining Events High divorce rates Gulf War Space Shuttle Challenger Political assassinations AIDS epidemic The mall Internet Values Family Self reliance Entrepreneurialism Fun Informality Convenience Balance –Work to live, not live to work

8 Generation Y Defining Events Columbine Oklahoma City bombing Instant access technology Clinton - Lewinsky 9/11 Mid-East wars & terrorism Values Optimism Individualism Self-confidence Achievement oriented Respect for authority Respect for diversity Integrity Drawn to civic duty Education

9 Travel Trends by Generation

10 Mature Travel Trends Rural America Historical appreciation Botanical Luxury birding Extended stay

11 Baby Boomer Travel Trends Vacation clubs Open road Grandtravel Exotic destinations Second honeymoon Fantasy camps

12 Generation X Travel Trends Ritual free Functional hotels On the fly Camping Ruggedless adventure Babymoon Girls only

13 Generation Y Travel Trends Destination status Voluntourism Green Short burst Indulgent extras

14 One Word…

15 Silent & Boomers Established online players versus user- generated content for research Boomers more comfortable than Silents to make online purchase First generation travel Web sites for booking travel Still want the option to talk to a human with questions and concerns

16 Gen X and Gen Y Web 2.0 – want to know others’ experiences Enjoy booking travel themselves Treasure hunt for best deals Tend to window-shop

17 Blogs 3,796 Tourism 6,048 Vacation 56,253 Travel –5,169 family travel –1,490 adventure travel –1,096 beach travel –374 leisure travel –284 golf travel –219 exotic travel –160 eco/environmental travel –72 culinary travel –51 historical travel

18 Vacation Rental

19 Income Sources% of Income Maintenance Fees76% Unit Rental17.0% Housekeeping2.0% Developer Subsidy1.0% Food & Beverage1.0% Special Assessment1.0% Other2.0% Resort Income Sources Source: State of the Vacation Timeshare Industry: US Study 2013 Edition produced by Ernst & Young for ARDA International Foundation

20 20082009201020112012 % Rent77%85%82%86%74% Nights Rented8.25 M8.4 M7.9 M10.4 M9.6 M Avg. Price$170$153$156$162$163 Total Revenue$1.40 B$1.29 B$1.23 B$1.68 B$1.60 B Rental Source: 2013 State of the Vacation Timeshare Industry: United States Study, produced by Ernst & Young for ARDA International Foundation

21 Online Vacation Rentals US travelers booked $23 billion in vacation rentals in 2012 7% of US travel market 1/5 of lodging market US timeshare resort rentals totaled $1.6 billion in 2012 Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright

22 Online Growth Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright

23 Online Vacation Bookings By 2014, 3 in 10 US dollars spent on vacation rentals will be booked online. Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright

24 VRMCs Percentage of VRMCs that offer live online booking Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright

25 Everyone Shops Online Nearly 3 in 4 vacation rental guests shopped for a rental online in 2012 15% of vacation rental guests shopped for a rental on a mobile device Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright

26 Connecting with Consumers

27 Take Action Today Establish a rental program Searchable website Mobile friendly Social Media presence Engage your owners and guests

28

29 www.aif.org

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