Global vacation exchange firm RCI is targeting the fast growing millennial segment and developing shorter duration products to attract them, a senior company executive has said.
"The millennial segment presents a huge opportunity. To attract them, we are looking into developing shorter products, which are not less than three days, as millennials are more into long weekends and interested to take several small breaks in a year," RCI India Managing Director Sabina Chopra told PTI here.
The company will soon, in 2-3 months, come out with products for millennials, she added.
RCI, with over 4,500 affiliated resorts in nearly 110 countries, has always been focused on the family segment and will continue to do so, she said.
The company, she said, also looks forward to tap the senior citizen market, which provides huge potential.
"We also find a lot of potential in the senior citizen segment as there is a growing population of people who after retirement want to travel and enjoy varied experiences," Chopra added.
In every category, she said, the company targets people who will invest in holidays.
"We cannot target every one. We look at those people who are committed to taking holidays every year, people who are ready to invest in holidays for a longer period of time," she added.
In India, RCI has affiliation with 160 resorts with close to four lakh memberships.
"We are looking at over 10 per cent growth in membership in India in 2018. We are also planning to add 40 more tie-ups in India to provide more options to members," Chopra said.
She said, Indian is one of the largest markets in Asia for RCI and one of the focus markets of the company along with Japan.
India is also RCI's fastest growing market, mainly driven by leisure segment, Chopra said.
Going forward, she said, "Leisure destinations as well as the metro cities will be the main growth drivers in India."
The US is the biggest market of RCI followed by Europe and Australia.
RCI has affiliated resorts in over 60 destinations across the country, giving holiday makers access to more than 200 resorts in India as well as overseas.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)