Timeshare Industry Continues To Grow Annually
Thursday, April 27, 2017
According to the ARDA International Foundation (AIF) in their 2016 U.S. Shared Vacation Ownership Consolidated Owners Report from, the timeshare industry maintains a healthy existence. The report shows owners becoming increasingly engaged with their timeshares, with about 9.2 million households in America currently owning a timeshare with an average length of ownership being nine years.
“There are countless reasons we continue to attract new buyers, but ultimately it breaks down to three core benefits,” said Howard Nusbaum, president and CEO of ARDA. “These owners love the location of their resort, they appreciate the value proposition that owning a timeshare provides and they know it will help ensure that they will take vacation every year.”
According to statistics, timeshare owners in the U.S. are ethnically diverse, with 60% being White, 20% being African-American, and 14% being Asian-American. Timeshare owners are highly educated; about 63% having at least a four-year college degree. The median household income for timeshare owners is $81,311, which is much higher than the median household income for $54K for the U.S. on average.
53% of owners spent $10,000 or more on their timeshare. When shopping around for a timeshare resort, 48% of timeshare owners said that Wifi mattered the most to them, while 46% of timeshare owners said that restaurants nearby was the most crucial selling point.
Seven out of 10 current timeshare owners reported that they would highly recommend timeshare ownership based on their experience. 71% also found the buying experience for their timeshares to be easy and hassle-free, reporting the transactions as being “excellent” or “good”.
“This is a lifestyle that appeals to a wide demographic,” Nusbaum said. “Our buyers are happy with their purchases and they want to share that enthusiasm.”
Owners are statistically dedicated vacationers. On average, timeshare owners took more than three vacations in 2015, and nearly 60% of timeshare owners either used their timeshare personally or banked/deposited their timeshare in 2015 for later use. Over three-quarters of timeshare owners (77%) took a vacation at a timeshare resort during 2015, predicting an optimistic future for timeshares.
For a copy of the full study or to see ARDA’s infographic presenting the statistics, visit the foundation’s website for more details.