Recent studies from the American Resort Development Association better known as ARDA recently published its 2016 worldwide shared ownership report. The verdict is in and the case study or report conclusively shows that timeshare sales are up globally and in specific key markets such as New York, Miami, Los Angeles, Orlando and more. Timeshares resales are experiencing a dramatic upswing, along with increased occupancy rates, and more and more families being interested in the overall vacation ownership model. The timeshare industry has really seen a coming of age scenario, where timeshare companies are attracting younger, more educated, more affluent timeshare buyers thanks to consumer changes in the industry. The timeshare industry continues to make vast improvements being more consumer friendly and more transparent, largely due major hospitality chains such as Wyndham Resorts, Hilton, Hyatt, Ritz-Carlton, Starwood, and Four Seasons. There has been a major shift in the age or demographic of market owners. Though the average median age of timeshare owners in 2015 was 51, this concept resounds loudly with younger people. New timeshare owners are younger, better educated, more affluent and diverse. These buyers are looking for ways to enhance their family vacations with more space, for everyone to truly unwind, and expect a lot of amenities and experiences for everyone in the family.
In 2014 the ARDA's report shows $17 billion in worldwide timeshares sales and 2015 over 19.5 billion. That is over 11% increase. The demand for timeshares have blossomed and occupancy rates are also hedging continuous growth. The study showed that 2014 occupancy rates were at 74% in 2014 and up slightly to 79% in 2015, combine these factors with 5,400 vacation ownership resorts in over 120 countries accounting for the increase in sales, occupancy rates, accompanied with diverse product offerings and overall experiences. Timeshare business was also responsible for stimulating the economy by creating over a million new jobs in 2015. The overall output has amassed to over $57 billion dollar a year industry, and contributes to promote the world’s global economy. It’s very clear and concise that this data proves the overall market is healthy and showing consistent growth. Vacationers are very aware of the value proposition to timeshare ownership. It gives the consumer freedom, time, and the ability to choose from multiple destinations all over the world. Timeshares give your family more accommodating spaces as an alternative to hotels which means more enjoyment. All while giving your family a platform for an investment opportunity.
The spike in timeshare sales, occupancy rates, and the overall growth of the timeshare industry shows it’s consistently performing in the black. In 2017, ARDA expects to see 91 new resorts which will create an estimated 7,300 new units. This will create a land grab type of scenario for consumers to buy affordably, easily and present owners more options for other locations which, in the end, means sales opportunities!