Tools commonly used in the Vacation Time Sharing Plans industry for day-to-day tasks and operations.

• Timeshare management software
• Online booking systems
• Customer relationship management (CRM) software
• Property management software
• Accounting software
• Reservation management software
• Marketing automation software
• Online payment processing systems
• Inventory management software
• Customer feedback and review management software

Common products and services typical of NAICS Code 812990-31, illustrating the main business activities and contributions to the market.

• Vacation resorts
• Condominiums
• Beach houses
• Ski lodges
• Golf resorts
• Lakefront cabins
• Luxury villas
• Theme park resorts
• Mountain retreats
• Urban timeshares

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified Timeshare Professional (CTP): This certification is offered by the American Resort Development Association (ARDA) and is designed for professionals in the timeshare industry. It covers topics such as sales, marketing, and resort operations. The certification requires passing an exam and completing continuing education courses.
• Real Estate License: In some states, individuals who sell timeshares must hold a real estate license. This license is obtained by passing a state exam and completing pre-licensing education. The requirements vary by state.
• Registered Resort Professional (RRP): This certification is offered by the American Resort Development Association (ARDA) and is designed for professionals in the resort industry. It covers topics such as resort operations, finance, and marketing. The certification requires passing an exam and completing continuing education courses.
• State Business License: In most states, businesses are required to obtain a business license to operate legally. The requirements vary by state and may include registering with the state, obtaining a tax ID number, and paying a fee.
• Federal Trade Commission (FTC) Compliance: The FTC regulates the timeshare industry and has specific rules and regulations that companies must follow. These include providing accurate and truthful information to consumers, disclosing all fees and costs associated with the timeshare, and providing a rescission period for consumers to cancel their purchase.

A concise historical narrative of NAICS Code 812990-31 covering global milestones and recent developments within the United States.

• The vacation time sharing plans industry has its roots in the early 1960s when a ski resort developer in France came up with the idea of selling vacation ownership to guests. This concept was later adopted by other resorts in Europe and the United States, and by the 1970s, the industry had grown significantly. In the 1980s, the industry faced a downturn due to the economic recession, but it recovered in the 1990s with the introduction of new products and services. In recent years, the industry has seen a shift towards more flexible ownership models, such as points-based systems, and an increased focus on digital marketing and customer engagement. In the United States, the vacation time sharing plans industry began in the early 1970s when a developer in Hawaii started selling timeshares to vacationers. The industry grew rapidly in the 1980s and 1990s, with many new resorts and companies entering the market. However, the industry faced a decline in the early 2000s due to the economic recession and negative publicity surrounding some timeshare companies. In recent years, the industry has seen a resurgence with the introduction of new ownership models, such as vacation clubs and fractional ownership, and an increased focus on customer experience and satisfaction.

The anticipated future trajectory of the NAICS 812990-31 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The vacation time sharing plans industry in the USA is expected to experience growth in the coming years. The industry is expected to benefit from the increasing demand for travel and tourism, as well as the growing popularity of vacation ownership. The industry is also expected to benefit from the increasing use of technology, which is making it easier for consumers to book and manage their vacations. However, the industry is also facing challenges, such as increased competition from online travel agencies and alternative lodging options. Overall, the industry is expected to continue to grow in the coming years, but companies will need to adapt to changing consumer preferences and market conditions to remain competitive.

Recent groundbreaking advancements and milestones in the Vacation Time Sharing Plans industry, reflecting notable innovations that have reshaped its landscape.

• Vacation Ownership Clubs: These clubs allow members to purchase points that can be used to book vacations at a variety of properties. This model has become increasingly popular in recent years, as it allows consumers to have more flexibility and control over their vacations.
• Online Booking Platforms: Many vacation time sharing plans companies have developed online platforms that allow consumers to book and manage their vacations online. This has made it easier for consumers to plan and book their vacations, and has also helped companies to streamline their operations.
• Sustainable Tourism Initiatives: Some vacation time sharing plans companies have started to focus on sustainable tourism initiatives, such as reducing their carbon footprint and supporting local communities. This has become increasingly important to consumers, who are looking for more environmentally-friendly and socially responsible vacation options.
• Virtual Reality Experiences: Some vacation time sharing plans companies have started to offer virtual reality experiences, which allow consumers to preview properties and destinations before booking their vacations. This has become increasingly popular in recent years, as it allows consumers to get a better sense of what they can expect from their vacations.
• Mobile Apps: Many vacation time sharing plans companies have developed mobile apps that allow consumers to book and manage their vacations on-the-go. This has made it easier for consumers to plan and book their vacations, and has also helped companies to stay connected with their customers.