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Tue 14 Mar 2006 04:00 AM

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RCI announces timeshare symposium

RCI, the shared ownership and travel exchange company, is to host a two-day conference and workshop programme covering the timeshare and shared ownership sector.

RCI, the shared ownership and travel exchange company, is to host a two-day conference and workshop programme covering the timeshare and shared ownership sector. Under the theme of New Horizons in Shared Ownership, the event is co-hosted by RCI’s parent company, Cendant Vacation Network Group, and specialist industry consultants, Ragatz Consulting. Set to take place at the Burj Al Arab in Dubai from April 28-29, the event aims to attract business investors, real estate developers and specialists from the industry.

The shared leisure real estate market is booming globally and clearly possesses great potential for investors within the Middle East, Europe and Asia. Timeshare growth worldwide over the next five years is expected to be around 50%, but probably greater than that in the Gulf area, where so many major tourism developments are underway. RCI’s Middle East operation, now head- quartered in Dubai, aims to use the symposium as a means of explaining how the shared ownership sector can play a pivotal role in making these developments a success.

“There is tremendous real estate and tourism development here, the industry is booming here in Dubai. [Timeshare] is a brilliant business model for Dubai when you think of the volume of real estate. In this region, in 10 years time, I can see there being an additional 500-1,000 timeshare resorts,” Preben Vestdam, president and CEO for Europe and the Middle East, told Hotelier.

The first day includes an educational workshop aimed at those who have little or no experience of the industry. This offers an introduction explaining why shared ownership concepts are relevant to the local market.

The second day includes a comprehensive programme covering relevant aspects of the shared ownership sector. The format will include presentations and panel debates.

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