Key Findings for 2007
General characteristics of the timeshare industry in Europe
- In 2007 1.5 million European households owned timeshare.
- The UK and Ireland form the largest market having 589,653 timeshare owners, followed by Germany and Italy.
- Most resorts are concentrated in Spain, with 26.3% of the total, 14.94% in Italy and 11.05% in the UK & Ireland
- There were a total of 1,312 resorts in Europe.
- The total number of units in European resorts is 73,540, resulting in 67,590 million bed nights.
- Average occupancy levels across completed European resorts was 71.7%.
Economic impacts of the timeshare industry in Europe
- € 3.2 billion of expenditure was generated by the European timeshare industry in 2007.
- European timeshare owners spent € 1.6 billion during their timeshare vacation, plus
- € 957 million on timeshare purchases and € 618 million on timeshare maintenance fees.
- The top spending market is the UK generating almost € 1.4 billion (about half the total expenditure) in timeshare.
- The average expenditure in 2007 per trip (or vacation) was € 1,588 per family, which was mainly spent on restaurants, car rental, parking and petrol, groceries, accommodation and gifts, souvenirs and clothes.
- In terms of employment, a total of 69,836 jobs are directly sustained by the timeshare industry.
- The overall employment costs for the timeshare developers sector across all resorts is € 1.28 billion (€ 1.06 billion if considering only resorts on the twelve European countries of this study).
European Timeshare Owners
- 86.6% of the owners reported that they were satisfied with their timeshare holiday and, 55.6% of them stated that they were very satisfied.
- 73% of the owners felt that their timeshare accommodation was better than other self-catering holidays they had taken, whilst 50.9% of all owners stated that their timeshare was much better than other self catering holidays.
- 32.2% of European timeshare owners own timeshare in their own country of residence, whilst two thirds of owners own timeshare abroad.
- Quality of accommodation, exchange opportunities and the credibility of the company are the three most important attributes and features in the owner’s purchase decision.
- The average age of timeshare owners in Europe is 55 years.
- The average level of pre-tax household income of the European timeshare owners is € 60,475.
European Timeshare Developers
- 60% of developers described their resorts as ‘built and marketing’.
- 21% of developers described their resorts as ‘built and sold out’, and a further 19% as ‘under construction and marketing’.
- The average number of completed resort projects between 2002 and 2007 is 4.1 projects per developer.
- Almost half of the timeshare developers plan to sell out the completed resorts by 2015.
- 84% of timeshare developers do not have plans to build more units or new resorts.
- In 2007 in-house/hotel marketing programmes accounted for 32% of developers’ marketing expenditure, while direct marketing represented 23%.
- 98.3% of all developers state that their organisation handles both the sales and marketing process of their timeshare development.