darla s. zanini rrp executive vice president
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Darla S. Zanini RRP Executive Vice President . Agenda. Understanding key generations Travel trends by generation Approach to planning travel Vacation rentals Connecting with consumers. Understanding Generations. A Generational Snapshot. WWII vets dying at a rate of 600 per day . - PowerPoint PPT PresentationTRANSCRIPT
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Darla S. Zanini RRP
Executive Vice President
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Agenda
Understanding key generations Travel trends by generation Approach to planning travel Vacation rentals Connecting with consumers
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Understanding Generations
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A Generational Snapshot
Silent Baby Boomers Generation X Generation Y1926-1945 1946 – 1964 1965 -1982 1983 - 2001
68 – 87 years old 49 – 67 years old 31 – 48 years old 12 – 30 years old
35 million 78 million 55 million 84 million
12% of population 26% of population 18% of population 28% of population
Security Individuality Self-reliance Duty
Self-sacrifice Self-fulfillment Balance Complexity
I owe it I deserve it I need it Because I canWWII vets dying at a rate of 600 per day
Every day 10,000 Boomers turn 65
Currently the dominant family-rearing generation
First millennials turn 30 in 2013
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Silent GenerationDefining Events• Farm Life• Great Depression• New Deal• World War II• GI Bill• Korean War
Values• Discipline• Hard Work• Dedication & sacrifice• Respect for authority• Duty before pleasure• Honor• Patriotism• Loyalty
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Baby BoomersDefining Events• Civil rights & women’s rights• Rise of communism• Space travel• Political assassinations• Woodstock• Vietnam War & the draft• Watergate
Values• Optimism• Teamwork• Conformity• Opinions• Personal gratification• Personal growth• Work/jobs
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Generation XDefining Events• High divorce rates• Gulf War• Space Shuttle Challenger• Political assassinations• AIDS epidemic• The mall• Internet
Values• Family• Self reliance• Entrepreneurialism• Fun• Informality• Convenience• Balance
– Work to live, not live to work
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Generation YDefining Events• Columbine• Oklahoma City bombing• Instant access technology• Clinton - Lewinsky• 9/11 • Mid-East wars & terrorism
Values• Optimism• Individualism• Self-confidence• Achievement oriented• Respect for authority• Respect for diversity• Integrity• Drawn to civic duty• Education
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Travel Trends by Generation
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Mature Travel Trends• Rural America• Historical appreciation• Botanical• Luxury birding• Extended stay
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Baby Boomer Travel Trends• Vacation clubs• Open road• Grandtravel• Exotic destinations• Second honeymoon• Fantasy camps
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Generation X Travel Trends• Ritual free• Functional hotels• On the fly• Camping• Ruggedless adventure• Babymoon• Girls only
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Generation Y Travel Trends• Destination status• Voluntourism• Green• Short burst• Indulgent extras
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One Word…
Internet
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Silent & Boomers• Established online players versus user-
generated content for research• Boomers more comfortable than Silents to
make online purchase• First generation travel Web sites for booking
travel• Still want the option to talk to a human with
questions and concerns
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Gen X and Gen Y• Web 2.0 – want to know others’ experiences• Enjoy booking travel themselves• Treasure hunt for best deals• Tend to window-shop
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Blogs• 3,796 Tourism• 6,048 Vacation• 56,253 Travel
– 5,169 family travel– 1,490 adventure travel– 1,096 beach travel– 374 leisure travel– 284 golf travel– 219 exotic travel– 160 eco/environmental travel– 72 culinary travel– 51 historical travel
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Vacation Rental
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Income Sources % of Income
Maintenance Fees 76%
Unit Rental 17.0%
Housekeeping 2.0%
Developer Subsidy 1.0%
Food & Beverage 1.0%
Special Assessment 1.0%
Other 2.0%
Resort Income Sources
Source: State of the Vacation Timeshare Industry: US Study 2013 Edition produced by Ernst & Young for ARDA International Foundation
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2008 2009 2010 2011 2012
% Rent 77% 85% 82% 86% 74%Nights Rented 8.25 M 8.4 M 7.9 M 10.4 M 9.6 MAvg. Price $170 $153 $156 $162 $163Total Revenue $1.40 B $1.29 B $1.23 B $1.68 B $1.60 B
Rental
Source: 2013 State of the Vacation Timeshare Industry: United States Study, produced by Ernst & Young for ARDA International Foundation
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Online Vacation Rentals
US travelers booked $23 billion in vacation rentals in 2012
7% of US travel market
1/5 of lodging market
US timeshare resort rentals totaled $1.6 billion in 2012
Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright
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Online Growth
2007 2012
12%
24%
Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright
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Online Vacation Bookings
By 2014, 3 in 10 US dollars spent on vacation rentals will be booked online.
Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright
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VRMCs
< 1 in 2
7 in 10 2012
2008
Percentage of VRMCs that offer live online booking
Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright
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Everyone Shops Online
Nearly 3 in 4 vacation rental guestsshopped for a rental online in 2012
15% of vacation rental guestsshopped for a rental on a mobiledevice
Source: 2013 The Rise of U.S. Online Vacation Rentals produced by PhoCusWright
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Connecting with Consumers
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Take Action Today• Establish a rental program• Searchable website• Mobile friendly• Social Media presence• Engage your owners and guests
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THANK YOU!
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