PROPERTY
Alternative ownership gaining momentum
- Published: 14/09/2010 at 02:28 AM
- Newspaper section: Business
Alternative ownership of property has gradually gained popularity in Asia-Pacific, where more hotel owners and real estate developers seek new revenue streams, according to Bryan Lunt, chairman and CEO of Absolute World Group, which pioneered the fractional real estate in Phuket.
The interest in alternative ownership _ vacation or fractional ownership and private residence clubs _ has been especially notable in Thailand which has a high-growth tourism industry.
In a recent report on shared ownership by the hospitality consultant C9 Hotelworks, vacation ownership sales volume totalled 722 million baht in the first half of 2009 and fractional property transactions 112 million baht on Phuket.
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