Millennials – the new vacation ownership generation

Millennials – the new vacation ownership generation

The much-maligned millennial generation gets a bad rap for a lot of things – said to be entitled, narcissistic and totally immersed in a world of digital wonder.

However, what this generation has actually got right and could teach their Boomer and Gen X counterparts a thing or two about is working to live, not living to work. Travel has become a top priority for this generation. They’re into experiences, not things and love to travel in groups.

There’s a definite trend emerging from millennial quarters in terms of interest invacation ownership, according to the Canadian Vacation Ownership Association (CVOA) – a trend that we anticipate will filter to South Africa sooner rather than later as South African seek value-for- money travel experiences and increasingly opt for “staycations”.

The rand aside, there are several additional reasons why the vacation ownership model is ideally suited to the millennial market:

Experience vs possessions

Millennial travel trends are characterised by their uniqueness. For this generation, the travel experience means far more than luxurious trimmings. Travel is based on three key interests – experiential travel, authenticity and local interaction. Timeshare providers need to keep this in mind when targeting this market. Luxury facilities are less important than included experiences like rafting, ziplining, mountain biking etc. They want to experience a destination on their own terms and vacation ownership allows them to do so.

Multi-generational travel

While the concept of multi-generational travel certainly isn’t new, it has become an increasing trend and this is where the needs of the different generations collide.

Vacation ownership providers offer a vast selection of different types of accommodation – especially self-contained units with multiple bedrooms and self-catering facilities, which present the perfect base for family groups wanting to travel together and enjoy a home-away- from home experience.

When ownership is not an option

For the millennial generation, access outweighs ownership and they want choice so the days of going to the same beach holiday destination year in and year out are over.

Vacation ownership is appealing because it offers choice and access to global and local accommodation at an affordable cost. They have a wide variety of destination and types of accommodation from which to choose at a price they can afford.

By Sharmila Ragunanan, Dream Hotels and Resorts Group Marketing Manager

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Taking place in Cape Town, South Africa, nearly 5000 travel industry professionals attend Africa’s leading and only business to business (B2B) exhibition for inbound and outbound Africa travel and tourism markets.

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