Newstrack

RCI to diversify portfolio

Priya Krishnaswamy - Bangalore

Resorts Condominium International (RCI), one of the leading players in the world in the timeshare market, is diversifying its portfolio to scalable heights. The company aims to bring in cruises, condominium, service apartments, heritage properties, ski centres and beach properties under their portfolio.

Talking about the India operations to Express Hospitality, Radhika Shastry, director-global business group, RCI India, said, "We are looking to broaden our area of networking beside hotels and resorts alone. In India especially, we are considering various other options. The Indian market is very exciting and that paves way for a lot of other forms of  business."

She adds further, "In the United States of America, the caravans are a best seller, but that would take time to grow in India, because we do not have adequate infrastructure. We would be happy to introduce caravans into the country, but the lack of basic amenities is holding us back." RCI introduced rental holiday options in January 2006 in a tie-up with about 20,000 hotels worldwide. Presently, the company has sold up to 2000 room nights. RCI also actively manages a lot of resorts in USA. However, managing the resorts in India is still in its premature stages. Commenting on the current scene, Radhika says, "In an attempt to restrict the outflow of funds, a lot of inexperienced people want to manage their own resorts and do not want to outsource it to anyone. However, we are open to such management plans in India."

Currently RCI has about 4000 hotels affiliated to it worldwide, with about 67 from India.