The Face of Todays Potential Timeshare Owner and New Buyer
Tuesday, September 25, 2012
Among the many insights and the extensive information gained by those attending the 14th Annual Shared Ownership Investment Conference (SOCIC) last week in Orlando, Florida, was information about the changing demographic of today’s timeshare owner. A very helpful overview of current buyers and owners was revealed in the Shared Resort Real Estate Ownership 2012: A Market Perspective.
This report covers a survey conducted by MMGY Global, involving 810 active leisure travelers who are considered to be a nationally representative sampling, and who met specific criteria regarding age and annual household income. The survey was conducted during this past June and July (2012). Among those surveyed, the average minimum annual household income was $50,000; they were between the ages of 25 and 64, and had traveled at least once for leisure purposes this past year, staying overnight, and going 75 miles or more from their home.
Peter C. Yesawich, Ph.D., vice chairman of MMGY Global said this of the report, “The implications suggest that the preferred product offerings and services will continue to evolve with the shifting social values of today’s leisure travelers. The results also reveal that the concept of shared ownership aligns well with marketplace trends, which bodes well for continued industry growth.”
So who really is today’s potential timeshare owner and new buyer?
Here’s a profile of leisure travelers interested in buying timeshare, vacation ownership, or fractional ownership real estate:
- Average age is 42.
- 63 percent are married.
- 40 percent have children who reside in the household full time.
- He or she vacations, on average, 3.4 times per year (based on the past 12 months).
- Typically sends $1,730 on lodging accommodations for leisure travel.
- 80 percent of those surveyed who where current timeshare owners, preferred a beach or lake destination for vacationing.
- 84 percent of those surveyed who where perspective timeshare buyers, prefer a beach or lake destination for vacationing.