Evaluating the value proposition of developing a vacation ownership resort: the case of Florida and Hawaii

Purpose This paper aims to examine the value proposition of developing a vacation ownership project in Florida and Hawaii by analyzing actual company data. Design/methodology/approach The study is based on a net present value model approach that was used for analysis of the company financial data. Findings Results suggest that the vacation ownership alternative produces better financial performance than traditional hotel development. Research limitations/implications Research is limited to the case of a company in two main destinations. Practical implications The paper helps practitioners by presenting a current approach to consider in their understanding and perception of vacation ownership. Social implications Research is limited to the case of a company in two main destinations. Originality/value This study is one of the few investigations about applying real company data and comparing the main timeshare markets.

Timeshare research: a synthesis of forty years of publications

Purpose This paper aims to facilitate an immediate immersion of academic literature in the timeshare/vacation ownership industry. Through a synthesis of 92 articles published in academic journals over the past 40 years, the authors demonstrate the breadth of the current research. Topical areas, methodologies and findings are presented, as well as opportunities for further investigation. This paper also provides the reader with a robust consolidation of literature in a tabular form to include authors, publication dates, sources and titles. Design/methodology/approach Through a comprehensive search of multiple academic research databases, university catalogues and references of existing literature and conference proceedings, the authors compiled a review of timeshare research with the aim of classifying the various components and issues that have been examined to date. Findings The timeshare segment of the greater lodging industry is unique due to its real estate ownership component, complex management characteristics and regulatory environment. The unique nature appeals to researchers and provides an opportunity for investigation of generally accepted theories and principles. The literature follows industry advances in the segment, with the majority of research focused on sales and marketing practices, and resort services and operations. An abundance of future research opportunities is identified in the literature, to which only a few have been addressed. Originality/value A synthesis of timeshare literature has not been published to date, either in hospitality literature or in other fields of study, i.e. real estate. Therefore, the authors provide a foundation for researchers, academics and students to utilize in further study and investigation.

Examining the effects of vacation ownership product attributes on customer satisfaction

Purpose – This research aims to propose a model that may be used to classify product attributes according to their effect on customer satisfaction within the services industry. It also aims to apply the model to vacation ownership products and to explore attributes related to both the purchase and use of the product: an owned luxury product. Design/methodology/approach – Data from 3,231 vacation ownership customers of multiple international companies were analyzed using a modified Kano model and related questionnaire. Findings – This study reveals the effect that specific product attributes have on customer satisfaction. It addresses previously unexplored attributes (i.e. sales techniques and hotel program benefits), confirms others previously identified with customer satisfaction (i.e. amenities, exchange benefits, hotel affiliation and vacation counselors) and reveals those that had no incremental effect on overall satisfaction (i.e. financing and activities). Practical implications – Results of this study suggest that attributes have varying effects on customers’ overall satisfaction and submit that companies may wish to focus their efforts in particular areas to maintain or improve overall satisfaction. Doing so may create opportunities for companies to increase satisfaction, operate more efficiently or distinguish themselves within the marketplace. Originality/value – This research is the first comprehensive examination of customer satisfaction related to the purchase and consumption of an owned luxury vacation product, reveals misconceptions related to certain product attributes, uncovers previously unidentified attributes, provides a model for examining customer satisfaction that could be applied across lodging products and provides a benchmark for future studies.