Dubai can pioneer timeshare industry in the Middle East

"Dubai and the Middle East have set a clear objective to become the next tourism destination of choice," said Clifton. "Developments all around the region testify the great determination of its governments to see this become a reality. Tourism will be one of the key drivers of this region's economy and wherever tourism starts to flourish, timeshare becomes a key in the equation for success.

"The key factors are all there - a cosmopolitan atmosphere, creativity, a strategic location at the crossroads between Europe and Asia as well as great weather and shopping. Timeshare is a major piece of the puzzle that will help drive intra-regional as well as international visitors to Dubai and Arabia."

Clifton explained that timeshare is a highly profitable industry for developers, pointing to financial opportunities. "Timeshare developments have higher year-round occupancies and tend to be more resilient in economic downturns than most hotels. Integrating timeshare segments into mixed-use resorts provides developers with multiple profit centres."

"Developers can generate substantial profits, speed up their cash flow, spread their risk and still receive the benefits of the asset, which reverts to them at the maturity of the timeshare programme." One of the key elements to making a timeshare project successful is having an international exchange component that gives the timeshare owner flexibility. For example, Interval provides its customers with the ability to stay at over 2000 resorts located in over 75 countries and make their dreams come true.

More than 100 tourism leaders met to discuss the potential of timeshare in the region, as well as debate the implementation of timeshare developments across the Middle East. Sales in the industry are currently worth in excess of US$10 billion, with 5,500 resorts with 7.5 million owners worldwide.

Clifton explained: "Ultra-creative mega projects are now the norm in Dubai and we are seeing world-class concepts also being developed in areas like Bahrain, Qatar and Jordan. The increasing number of mixed-used resorts under construction will provide new opportunities for potential timeshare developers hence allowing more growth prospects for developers.

On the agenda for discussion at TRIC were case studies from Marriott Vacation Club International, one of the largest timeshare operators in the world. Also, Al Futtaim Capital, the developers of Dubai Festival City discussed their large mixed use mega project on Dubai Creek and why timeshare is a key component of it. HVS International presented a detailed plan on how to make timeshare pay in the Middle East.

Platinum sponsors include Arabian Falcon Holidays, Dar El Karam, Dubailand, and Sun House Vacation Company. Gold sponsors are Aramex International, First National Trustee Company (FNTC). The endorsers are HVS International, Marriott Vacation Club International, PriceWaterhouseCoopers, Urban Land Institute, Wimberley Allison Tong & Goo, and World Travel & Tourism Council. Travel & Tourism News is the media sponsor.