CRTA INSIDER Vacation Ownership News & Updates

Canadian Resort & Travel Association

CRTA MEMBER NEWS

The U.S. Vacation Ownership Industry: Commoditization, Sustainable Competitive Advantage & Brand Differentiation

Source: Resort Trades

The consolidation in the U.S. timeshare and vacation ownership industry over the past decade has shifted control to a few major players. This shift brings the risk of commoditization, where products and services become indistinguishable, eroding profit margins and customer loyalty. To combat this, these companies have adopted strong brand differentiation strategies, leveraging personalization, technology, unique offerings, and robust loyalty programs.

Travelers Are Experiencing Growing Anxiety

About Their Autumn Trips

Source: Travel Pulse

As the 2024 fall travel season approaches, a high proportion of travelers are experiencing heightened anxiety about their upcoming trips. This uptick in worry is assumed to be due to a combination of factors, including the anticipation of flu season, frequent airline disruptions and a record-breaking hurricane season.
A recent survey by leading travel insurance marketplace Squaremouth.com reveals that a whopping 75 percent of respondents are more concerned about protecting their trip costs this autumn in comparison with years past.

Jasper wildfire caused $880M in insured losses:

Insurance Bureau of Canada

Source: CBC News

The wildfire that ripped through Jasper National Park this summer and destroyed a significant portion of the Jasper townsite is Canada's ninth most expensive disaster for insurance payouts, according to the Insurance Bureau of Canada.

The IBC estimates the insured damages — including homes, businesses, their contents and vehicles — to be $880 million. IBC says the wildfire is the costliest insurance event in Canada's national park history.

This Low-cost Carrier Has Flights to Canada Starting at $1 

Source: Travel+Leisure

Airfare sales are nothing new, but one low-cost carrier is taking it to an extreme.

Flair Airlines, a low-cost Canadian airline, recently announced it would be discounting their base fares to just one (Canadian) dollar on select routes from Cancun, Orlando, Las Vegas, and Puerto Vallarta to Canada.

Canada's economy grows by 2.1% annualized in second quarter, beats forecast

Source: Reuters via MSN

The annualized gross domestic product on a quarter on quarter basis rose 2.1%, Statistics Canada said, adding, however, that on a per capita basis the GDP continued to contract for a fifth consecutive quarter.
The GDP figure is the last data before the Bank of Canada's monetary policy decision announcement next week when it is widely expected to cut its benchmark rate for the third time in a row

Air Canada offers flexible rebooking ahead of possible pilot strike

Source: Global News

Air Canada is offering passengers who have booked flights around the date of a possible pilot strike next month some increased flexibility in rebooking their travel.
The airline says progress has been made in its negotiations and it hopes to reach a deal, but it still faces the possibility of a strike by its 5,400 pilots as early as Sept. 17.

The Michelin Guide Announces Its Expansion Into Canada's Largest Province

Source: Tasting Table

The addition of Quebec follows hot on the heels of Canada's other two Michelin Guide destinations; both Toronto and Vancouver were brought into the program in 2022. Whether that means we can expect more Canadian destinations to be added to the list in the next few years is pure speculation, but the northern country has certainly garnered some interest from the Guide.

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