ARDA Reports Timeshare Industry Remains Steady
The 2011 edition of the report on the state of the timeshare industry in North America, which was commissioned by the American Resort Development Association (ARDA) and carried out by Ernst & Young, paints a positive picture that should please most resort developers and managers. Despite the slow pace of the economic recovery, during which occupancy rates at hotels in the USA have only reached 58%, nearly 80% of timeshare owners still elected to take a holiday in their property. The reason for this is suspected to be the more spacious accommodation that they enjoy, along with facilities such as fitted kitchens that enable guests to prepare meals in their home from home.
The rental market for timeshare units is also buoyant, with 10% of stays at such properties accounted for by customers that paid weekly rent. Continued innovation in the industry, with regard to new holiday products, has also been welcomed, with roughly 55% of owners surveyed reporting that they are members of some type of points-based programme. These programmes allow members more flexibility as to when and where they can stay, in contrast to the more traditional fixed weeks in specific holiday properties. Another popular product is biennial timeshare, a variant that allows owners to use their vacation weeks every other year rather than annually.
More news that appears to confirm how happy most owners are with their timeshare products is the fact that 45% of timeshare purchases were made by existing owners. Underpinning this strength is the ability of developers to attract lenders that has been demonstrated in recent years and ongoing efforts to educate consumers as to the real benefits that timeshare ownership has to offer.
For more information on how to buy, rent or sell timeshare, contact Visions of the World, your timeshare solution company.
Contact Information: Visions of the World Ltd Finance House, 20-21 Aviation Way, Southend on Sea, Essex, UK SS2 6UN +44 (0)870 442 8882