Lesser-known TN destinations to be next big draw in time-share

Ramesh Ramanathan, MD, Sterling Holiday Resorts Ltd tells us, “Sterling has been a pioneer in the time-sharing business. We grew very strongly till 1996 with a membership base of around 85,000. The timeshare product which was being sold in perpetuity (like a house or property) was changed to a ‘right to ownership’ model and the location specific-nature of the product was also modified. In 2007, Bay Capital Partners was bought in as a PE. In 2011, during my second stint with Sterling, we had close to 1,100 un-furbished rooms. Today, we have close to 2,200 fully-furbished rooms. Close to 27 of our 29 resorts have a four-star rating on TripAdvisor. The global vacation exchange firm RCI has been an associate of ours for long. The company has been helping unlock the timeshare model by offering options across the country, or the across the world, with respect to your choice of vacation.” 

Sterling currently has 33 properties operating under it - 29 signature resorts and 4 Nature Trails resorts. Talking about the state, he says, “TN is the No 1 state in terms of domestic tourism, as per various statistics. We have close to 720 odd rooms in TN and one of the biggest footprints in India. There is enough scope to develop the beaches and hills of TN as tourist destinations, especially locations like Meghamalai, or Javadhu Hills or Kolli Hills. Unlike hotel companies, we don’t hesitate to explore lesser known destinations. We developed Anaikatti in TN, Karwar in Karnataka and Dindi in AP. Valparai and Madurai are locations we are closely looking at. We have been growing at a CAGR of more than 20 per cent over the last 5 years. In the next 3 years, we would like to double our number of rooms to 4,500.”

He adds, “We are tying up with the Gujarat, AP governments. We are also collaborating with TN govt on skill development in hospitality segment. We started a 6-month programme in F&B and admin in Kodaikanal and are following it in Ooty. We plan to expand it to other parts of the state too.”

Global vacation exchange firm RCI is targeting the fast-growing millennial segment and developing shorter duration products to attract them, a senior executive said. RCI India Managing Director Sabina Chopra said that the company has grown by 55 per cent over the last 5 years. She tells us that while RCI has affiliated hotels in Rameswaram, the company is also exploring options to have affiliated properties in the famed temple town of Thanjavur.