Fee waiver to woo timeshare clients

Waiving the fees is expected to attract 2,000 new members this year.

The company, a joint venture between Australian-based timeshare operator Dial an Exchange and the UK's Hutchison and Co Trust, began operations in Thailand last year.

Business-development manager Nutpon Bunbusakorn said the timeshare business was growing in Thailand and neighbouring countries like Malaysia, so it wanted to tap the emerging markets.

He said the company already had 700-800 Thai members and 14 resort partners located mostly in Bangkok, Pattaya and Phuket.

"The company has targeted 2,000 new members this year plus an increase of 20 hotels and resorts in the number of vendors," said Nutpon.

To reach this target, the company is offering to waive entry and annual fees. Moreover, it is featuring 15-20-per-cent cheaper vacation fees compared with major rivals Resort Condominium International and Interval International. Both are based in the US.

This year, the company expects revenue of US$500,000 (Bt16 million), up 150 per cent from $200,000 last year.

"Over the next two years, the company hopes to be the market leader in terms of member numbers and vendors," said Nutpon.

The timeshare business in Thailand is valued at Bt200 million a year, with estimated annual growth of 15-20 per cent. However, the business is not yet as popular here as it is in developed countries.