Fourth Vacation Ownership Investment Conference ends on upbeat note as industry turns out in force

"We have identified the Middle East as having high potential for vacation ownership growth; intraregional tourism is flourishing and more international tourists are discovering the wide variety of tourism opportunities in the Middle East. It is only natural that timeshare will flourish here as it has across the globe," said David Clifton, Managing Director, Europe, Middle East & Africa, Interval International.

"At VOIC this week we have focused on fundamentals and major changes to the industry. The objective has been to help participants to learn more about the various aspects of this mainstream hospitality product," he explained.

VOIC 2008 also saw in-depth debate on the implementation of new vacation ownership regulations, approved by Dubai's Real Estate Regulatory Authority (RERA) in time for the event. A panel discussion, lead by Tom Bell, Vice President of Government Affairs, Interval International, provided an outline of what the new regulations contain and what this will mean for developers, marketers and the consumer.

Over 160 industry professionals attended the two-day educational and networking event at Arabian Court, One&Only Royal Mirage, making it the most subscribed to VOIC edition to date.

"The response to VOIC 2008 has been outstanding. We were at maximum capacity four weeks ago. Next year we may have to consider changing venue due to increased interest,"

Clifton admitted.

The two-day programme saw seminars delivered by industry chiefs from Hyatt Vacation Ownership Inc., Starwood Vacation Ownership, Arabian Falcon Holidays, Dubailand, Marriott Vacation Club International and Preferred Hotel Group.

In addition, interactive panel discussions took place, with key participants including Saudi Arabia's Supreme Commission for Tourism, Jumeirah Living, Emerald Vacation Club and Dubai Vacation Club.

The overall consensus from delegates and industry experts was that the Middle East presents a huge growth opportunity area for vacation ownership.

"No doubt vacation ownership is on the cusp of unprecedented growth. Interest in this dynamic sector is at an all day high and governments are rapidly recognising the positive contribution vacation ownership brings to their tourism goals and objectives," Clifton remarked.

"At VOIC 2008 we hope we have provided practical insights into the vacation ownership industry today and, more importantly, what we see as the potential for tomorrow," Clifton added.