ORLANDO- At a flagship panel entitled “Meet The Leaders” at the Timeshare Investment Conference here, panelists agreed that as brands continue to invade timeshare, the vacation ownership and hotel industries will become one.
“I can see where the timeshare industry in 10 years will be bigger than the hotel industry – actually, I think it will be one industry,” predicts David Siegel, president/chairman of the board of Central Florida Investments & Westgate Resorts.
According to the panel, this will occur as a direct result of hotel brands having taken notice of the growth of the timeshare industry and deciding to enter that business. Because each is a logical extension of the others core competencies, becoming one branded business is inevitable, experts said.
In addition, the melding together will be necessary due to a growing labor shortage. “The labor pool has become a labor puddle,” said Stephen Weisz, president of Marriott Vacation Club International. He added that Marriott routinely divests employees between the industries, particularly on the operations side. Siegel agreed with the labor issues saying, “every time Disney opens a new hotel, we lose 10% of our workers. (10/26/00) – Jay Nussbaum