A new report on US timeshare reveals a rise in sales, steady occupancy rates and a healthy outlook overall.
The State of the US Vacation Timeshare Industry Study which was conducted by Ernst & Young shows that vacation ownership, which tends to be more resilient than hotel occupancy rates during economic downturns, is faring well, with over half of buyers reported as being “new owners”.
The Study reports a rise in sales, stable occupancy levels and promising trends which include more flexible and innovative products as well as increasing interest from younger buyers.
The United States Study 2012 Edition confirms that sales of vacation products have increased slightly compared to last year. Nearly 80 percent of owners have continued to travel to their timeshare destination and it’s a figure which yet again outpaces traditional hotel occupancy at 60 percent in 2011 according to Smith Travel Research December 2011 report.
ARDA noted that some of the reasons timeshare remains stable during the current economy include factors such as spacious apartments and full self-catering facilities. Timeshare owners don’t have to spend extra money dining out during their holidays as they probably would if they were to stay in a traditional hotel instead.
The State of the US Vacation Timeshare Industry report also highlighted the findings that 58 percent of timeshare sales are “new owners” and almost three-quarters of resorts (72 per cent) have at least half of their sales from new owners.
Overall, the survey indicates a promising and positive outlook for the industry, with healthy consumer demand for expanded product offerings, steady occupancy rates, and continued success of rental programs.