Media company Fractional Life has released its predictions for the top ten trends in the shared ownership industry in 2010.
The list includes timeshare and whole ownership developers entering the fractional crossover market, dedicated fractional agents, and more industry partnerships and networking.
Fractional Life’s trend predictions in full:
1 Traditional timeshare operators launching fractional ownership products
More companies will follow the success of Seasons Holidays in selling all units at its Spanish fractional resort to timeshare customers.
2 Escapism
Consumers will tire of saving money and cutting back on luxury, instead occasionally splurging on big purchases.
3 More joint initiatives
Non-competing companies will form more relationships in an attempt to generate more leads and increase sale activity, eg Ritz Carlton’s partnership with Marquis Jets in the US.
4 Whole ownership operators adding fractional units to their resorts
Developers will face a difficult year in Europe, the UAE and US, encouraging more companies to offer a wider range of products, including fractional, at lower prices.
5 Boutique fractionals
Developers will favour more small, high quality resorts but with strong branding, following the likes of Marriott announcing they will scale back on fractional development.
6 Fractional real estate agencies
Agents dedicated to selling fractional property will emerge outside of the US for the first time.
7 Green fractionals
Developers will introduce more sustainable building and operating practices as pressure mounts for individuals, companies and governments to make they lifestyles and ways of running more environmentally friendly.
8 Fractional trade networking
Professionals, especially in small and medium businesses, will be under pressure to create more profitable relationships through online social networking sites such as LinkedIn and Xing.
9 Real-Time Reviews, Tracking and Alerting
More companies, products and services will become the subject of online, real-time reviews but consumers will also spend more time tracking them and alerting others to them.
10 “Collaborative consumption”
Consumers will shift towards “collaborative consumption” driven by a desire to receive the same benefits of ownership with fewer financial and environmental costs. (Basically a fancy way of saying more people will buy fractional.)