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Timeshare Owners Kick The Tires Before They Purchase
October 20, 2009 by Fractional & Shared Ownership Property News & Reviews · Leave a Comment
According to Study Half of Recent Purchasers Rented Timeshare Prior to Buying
According to Vacation Timeshare Owners Report, 2009 Edition by the ARDA International Foundation (AIF), recent timeshare purchasers are younger, wealthier and happy with their vacation product. Overall, more than six in ten timeshare owners are age 45 or older, with Baby Boomers ranked as the largest generation of timeshare owners (45 percent). However, recent purchasers are younger than timeshare owners in general, with 58 percent under the age of 45.
About half of recent purchasers rented a timeshare prior to buying (48 percent), and four out of five purchased from a developer or resort. The average household income for all owners is $92,405, and recent purchasers have an average household income of $94,933. Motivators for purchasing were the quality of accommodations, saving on future costs, and the credibility of the timeshare company. Over half say they purchased a timeshare to save money on future vacations.
“This study underscores the flexibility and value of vacation ownership products for a broad range of consumers and lifestyles. The value of timeshare that comes from its use gives people the discipline to have a better vacation year after year,” said Howard Nusbaum, ARDA president and CEO.
Other results from the study include:
• Timeshare owners spent an average of 8.18 days on timeshare vacations in 2008.
• On average, the total number of guests on a timeshare vacation was 3.71, including the owner.
• Eighty-six percent of all timeshare owners responded that owning a timeshare was an excellent, very good, or good experience.
• Sixty-nine percent of all owners would recommend their own resort or vacation club.
• On average, timeshare owners have owned their intervals for 8.26 years.
• Timeshare owners say that beaches (52 percent), attractions/entertainment (48 percent), and shopping (39 percent) are the most appealing resort characteristics.
• Eighty-one percent of all owners say that their timeshare offers a vacation home away from home.
For more information visit www.ARDA.org or download an executive summary of Vacation Timeshare Owners Report, 2009 Edition.
About ARDA
The American Resort Development Association is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has over 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners Coalition (ARDA-ROC). Visit ARDA’s consumer website at www.VacationBetter.org.
About AIF
The ARDA International Foundation (AIF) conducts research and develops education programming for the timeshare industry. The Foundation’s mission is to “support, conduct, and disseminate research and technical studies that will enhance and improve knowledge for the public and the industry, and develop educational resources that will optimize value, operations, acceptance, and service for the industry and the public.”
Methodology
This research was sponsored by the ARDA International Foundation and conducted by Penn, Schoen, and Berland Inc., a global market research firm. Interviews were conducted among a national sample of timeshare owners between May 8 and 15, 2009 — approximately 7 months after the U.S. financial crisis began in late 2008. The report is based on analysis of 945 “traditional timeshare owners,” including 195 “recent purchasers.” Recent purchasers are defined as owners who made a timeshare purchase in the United States in the past twelve months. Unlike the last study, which relied on a single panel provided by the research vendor, the 2009 Vacation Timeshare Owners Report sample draws from multiple email sample vendors operating in the U.S., resulting in a relatively more diverse, random sampling of timeshare owners.
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