Fractional Ownership Development – Vancouver
Office: Horwath HTL, Miami
Project Overview:Fractional Ownership Development. The Vancouver, British Columbia market has a well-developed quarter-share fractional ownership market. Purchasers get one week per month and two weeks in the peak summer season to escape the city for a long weekend and enjoy the ski-areas and coastal forested towns within a two-hour drive of the city. A timeshare leader in the Pacific market established a quarter-share program in a newly-built high-rise in downtown Victoria. Unfortunately, not many resort-destination timeshare owners traded up to the fractional share in Victoria and the market of Vancouverites wanting to spend time regularly in Victoria was not as deep as had been hoped.
Horwath HTL Solution:Our market study suggested changes in the share size and pricing program and also recommended redirecting marketing efforts to residents of the colder inland provinces of Saskatchewan and Alberta, who would appreciate a break every few months to escape to the milder sunny weather of Victoria.