The Alternative Ownership Conference for Resorts and Hotels – Asia Pacific (AOCAP) organised by Absolute World Group will run October 10-12 at Millennium Resort Patong in Phuket, Thailand.
The conference aims to highlight the growth of alternative ownership in the Asia Pacific region as a new revenue stream for hotel owners and property developers.
A recent study on shared ownership by hospitality consultant C9 Hotelworks reported a vacation ownership sales volume of THB722 million (US$23.48 million) and fractional property revenue of THB112 million (US$3.64 million) in the first half of 2009 in Phuket. The report also found that 2007-2009 saw 22,410 Vacation Ownership units and 70 fractional real estate units sold on Phuket.
The market in Thailand has grown since with a number of new Vacation Ownership and fractional offerings in Samui, Hua Hin, Pattaya and Phuket, while growth in the region continues specifically in Singapore, Malaysia and Bali.
“Following the success of the inaugural AOCAP conference in 2009, we are excited to announce AOCAP 2010 will take place 10-12 October in Phuket. Our goal is to introduce more delegates to the benefits of Alternative Ownership,”
said Bryan Lunt, Chairman and CEO Absolute World Group, founding sponsor of AOCAP.
This year’s conference will feature speakers from companies including Perspective International, The Registry Collection, RCI, Interval International, and the Australian Timeshare and Holiday Ownership Council. Workshops are planned in both English and Thai, and practical forums will be implemented using case studies. Networking opportunities have also been scheduled in the evenings giving delegates the chance to share experiences with others in the business.
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Some observers are concerned that the global financial crisis may affect the Thai real estate market. Generally, a real estate bubble occurs when property prices rise quickly in a short period, primarily from speculation – resulting in a supply-and-demand imbalance. When property prices are rising faster than the cost of money and banks continue increasing loan-to-value ratios, funding becomes easier – propelling additional speculation.
Being a developing country, the cost of property in Thailand is much lower than in the more developed European markets. But, on the other hand, prices for Thai property, in general, are rising at a much faster rate.