Millennials, by and large, are making spending decisions that choose travel and experiences over what we traditionally saw with previous generations at the same age. These millennials have yet to embrace vacation ownership in proportion to their parents and grandparents. As investors and developers, we must ask what the vacation ownership industry can do to capture more of these transient travel dollars and positively expose the millennial traveler to this lifestyle. Our belief is that we can start with the properties.
Current research has shown that the millennial traveler vacations 44% more per year than the average baby boomer. Research has also shown that the millennial traveler is substantially more conscious of the environmental footprint in their travel. As a set, they tend to place a premium on supporting businesses and properties with a well-defined environmental responsibility program that starts with environmentally responsible design, which specifically adheres to open and conserved space as well as “green” operations and environmental protection. This applies to new build properties as well as …
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