RCI eyes 100% growth, biz expansion in five years

Global vacation exchange firm RCI today said that it is eyeing 100 per cent growth in five years, besides expansion of its presence in Jammu and Kashmir and north-eastern states.

"In the next five years, we are targeting to double our timeshare business in India. We are also very keen to foray into the north-east and states like Jammu and Kashmir and Madhya Pradesh," RCI Managing Director Radhika Shastry told PTI here.

RCI, a brand belonging to Wyndham Worldwide Corporation, is affiliated with 91 resorts across the country and has around one lakh timeshare owners, she said.

At a global level, RCI has more than three million members, Shastry added.

She said that the occupancy level in India is around 80 per cent, while it is around 82 per cent on the global front.

The overall timeshare business in the country generates around Rs 450-500 crore, growing annually at about 18-20 per cent. "I don't see it coming down," she said.

Despite the global economic turmoil, the timeshare business is growing as people have already paid for their holidays over 25 years, Shastry said.

Globally, the timeshare industry is growing at 12 per cent with revenue generation of about $14 billion. The target audience in India is mostly from the 35-65 age group, of which up to 70 per cent seek domestic exchange, she said.