Tens of millions of dollars pre-booked and waiting to be spent in Australia’s domestic tourism industry - report
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Tens of millions of dollars pre-booked and waiting to be spent in Australia’s domestic tourism industry - report
Hundreds of thousands of Australians are desperate to travel to their favourite holiday destinations within Australia, according to the Australian Timeshare Holiday Ownership Council (ATHOC).
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Wyndham Destinations Asia PacificRamada Resort by Wyndham Golden Beach.
A new report has shown a spike in bookings for timeshare properties across the country as domestic tourism demand continues to rise in the wake of COVID-19.
Occupancy forecasts within the Australian Timeshare Holiday Ownership Council's latest economic impact report indicates strong pent up demand across all states, with Queensland proving the most popular, recording timeshare bookings at 73.5 per cent for September and 75 per cent for October.
According to the report, some timeshare resorts in Queensland are pre-booked at over 93 per cent for October alone, while in NSW, timeshare bookings are 67 per cent in September and 70 per cent in October.
At a glance:
- The Australian Timeshare Holiday Ownership Council's latest economic impact report indicates strong pent up demand in all states for timeshare properties.
- Occupancy forecasts in the report show Queensland leading the way with timeshare bookings now at 73.5 per cent for September and 75 per cent for October.
- The Economic Impact report, conducted in conjunction with the AEC Group, found the timeshare industry contributed total direct revenues of over $958 million to the Australian economy in 2019, a 34.6 per cent increase in direct contribution to national GDP since 2016.
Speaking at the launch of the report, ATHOC General Manager Laura Younger said the combination of a summer disrupted by bushfires followed by the pandemic lockdowns had created very high demand for domestic holiday travel.
“Requests for bookings at timeshare properties have spiked when lockdown restrictions were eased, and demand has been particularly high in regional centres," she said.
Sandy Point Beach Resort. Source: Classic Holidays
"This is important for regional towns that rely on tourism to survive but have been starved of revenue following the summer bushfires and the COVID-19 restrictions.
“Places like Port Douglas and Mount Hotham rely on tourism for their very survival. Dinner Plain at Mount Hotham, which was evacuated during the recent bushfires, became a year-round destination after the introduction of timeshare.
"Prior to COVID-19 tourist visits outside of ski season led to new businesses opening up at Mount Hotham, and the local economy grew as a result."
Grand Mercure Basildene Manor. Source: Accor
The Economic Impact report, conducted in conjunction with the AEC Group, found the timeshare industry contributed total direct revenues of over $958 million to the Australian economy in 2019, a 34.6 per cent increase in direct contribution to national GDP since 2016.
Expenditure by timeshare guests/owners grew to $493.3 million in 2019, a 67 per cent increase from 2016. This equates to an average expenditure of $3,538 per party per trip.
Ms Younger said the timeshare industry remained hopeful restrictions would continue to ease, allowing as many Australians as possible to travel domestically.
“Our industry is desperate to help the Australian economy by helping facilitate tourism to some of the hardest hit areas," she said.
"Our members love the towns and regions they visit through timeshare.
The Lagoon Pool at Marriott Vacation Club. Source: Marriott
“Once state border restrictions are fully lifted, we are hopeful the Commonwealth Government will support this by allowing travel, tourism and hospitality operators, including timeshare, to trade as freely as possible.
Ms Younger added the timeshare industry had assisted members where possible when they had been faces with financial or health-related hardships during the pandemic.
“Timeshare owners buy into a community when they join our members," she said.
"As such the industry has been rallying around owners offering various forms of support from financial, to free physical and mental health information, meditation and yoga classes as well as other benefits," she said.
"We’re doing what we can to help timeshare owners manage through the pandemic.”
Click here to download a summary of the report.
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