West Sands Enters Vacation Ownership Market
The integrated resort development West Sands in Mai Khao will be launching a vacation ownership program by October of this year according to Marketing Director Barry King. With 121 rai the project plan has 450 residential and lifestyle units ranging from ocean front and pool villas along with resort condominiums. Waterworld the themed amusement attraction will open later in the year and an Outrigger branded resort with 433 keys is also in the works.
Vacation ownership continues to be a strong mover on the island and industry estimates put revenue turnover at between 1 to 1.5 billon baht a year. Laguna Holiday Club, Marriott Vacation Club and Absolute who has teamed up with David Lloyd on a number of projects are the largest players.
Given significantly price points the vacation ownership market is continuing to develop a growing market share in the overall residential property industry. RCI and Interval International remain the two most popular worldwide exchange players in use. Expectations are that fractionals are going to enter the Phuket market more widely as the residential sales market remains soft and new products are needed to stimulate sales.