Do You Want to Resell Your Timeshare?
Monday, March 5, 2007
You may be surprised to learn who is buying timeshare today
If you are interested in reselling your timeshare, your timing couldn’t be better. According to a recent article published by Hotel Interactive (http://www.hotelinteractive.com/) entitled, “FutureTimeshare Buyers: Market Profile 2006,” more than 9 million households in the US expressed interest in buying a timeshare within the next two years.
Not only is the overall percentage of Americans interested in timesharing on the increase, but the demographic is expanding as well. While the majority of timeshare owners still fall into the category of middle age and middle income, research shows a high degree of interest in timesharing by the Generation X crowd (age 28 to 41) and even the under 27 age group sometimes referred to as the Echo Boomers because they are typically the offspring of the Baby Boom generation.
Where once primarily households with annual incomes greater than $50,000 made timeshare purchases, today’s purchaser may have an annual household income in the $30,000 and up range. Timeshare purchases by African-Americans and by Indian-Americans (first and second generation American citizens of Asian Indian heritage) are also increasing at a significant rate.
Perhaps more people are realizing that timeshares can offer incredible opportunities for easy-to-plan travel and vacation ownership. Data from the National Leisure Travel Monitorsm (developed by Yesawich, Pepperdine & Brown/Yankelovich Partners) also shows that among the average American’s personal goals, family time ranks higher than earning money ranks. Issues of political and economic uncertainty and prevailing global unrest have influenced public perceptions and values. In 2000, 26 percent of adults took their children with them on vacations. By 2005, that figure had seen a 10 percent increase, including 61 percent of parents who said they would take their children out of school in order to enjoy a family holiday or vacation time.
Statistics such as these should be reaffirming for the timeshare industry as a whole, whether viewed from the perspective of the seller or the buyer. If you have timeshare that you wish to sell, take heart because everything points to an ever-growing market of potential buyers. And if you are considering timeshare property to buy, then the news is all good for you too, as research clearly shows, this is an industry in a positive growth trend. Industry standards, new and diverse vacation products, and your own opportunity to someday resell, only look better and better all the time.