GITNUX MARKETDATA REPORT 2024

Timeshare Industry Statistics And Trends in 2024

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The timeshare industry is a booming business, with more than $10.5 billion in annual sales and 5,669 resorts worldwide. On average, a timeshare unit costs $22,180 and approximately 9.6 million households in the United States own one or more of them. In 2019 there were an estimated 540,000 full-time jobs related to the industry globally and 67% of owners are satisfied with their purchase according to recent surveys.

In this blog post we will be exploring some interesting statistics about the timeshare industry from around the world including information on pricing trends, occupancy rates and customer satisfaction levels as well as other key facts such as resort sizes and financing options available for buyers. We’ll also look at how different regions have been impacted by this growing sector over time so you can get a better understanding of its current state today.

The Most Important Statistics
On average, a timeshare unit costs $22,180. This statistic is a telling indication of the cost of investing in a timeshare unit, providing a valuable insight into the Timeshare Industry. It serves as a benchmark for potential buyers to gauge the cost of ownership, and for existing owners to compare their own investment. The timeshare industry generates more than $10.5 billion in annual sales. This statistic is a testament to the immense success of the timeshare industry, highlighting the fact that it is a major player in the global economy. It is a clear indication that timeshares are a popular and profitable investment, and that the industry is thriving. This statistic is an important piece of information for anyone interested in learning more about the timeshare industry and its impact on the economy.

Timeshare Industry Statistics Overview

Florida has the highest number of timeshare units in the U.S., with 28% of the total units.

This statistic is a testament to the popularity of timeshares in Florida, highlighting the state’s status as a leader in the timeshare industry. It is a key indicator of the strength of the timeshare industry in the state, and provides an important insight into the overall health of the industry in the U.S. as a whole.

The average timeshare interest’s maintenance fee is $1,000 per year.

This statistic is a key indicator of the cost of owning a timeshare interest, as it reflects the annual fee that owners must pay to maintain their interest. It is an important factor to consider when evaluating the overall cost of owning a timeshare, and thus is a valuable piece of information for anyone researching the timeshare industry.

Timeshare occupancy rate in the U.S. was 81.1% in 2019.

The fact that the timeshare occupancy rate in the U.S. was 81.1% in 2019 is a testament to the strength of the timeshare industry. It shows that despite the ever-changing economic landscape, timeshare properties remain a popular choice for travelers. This statistic is a great indicator of the industry’s success and provides a valuable insight into the current state of the timeshare industry.

Baby boomers make up approximately 35% of the timeshare ownership demographic in the U.S.

This statistic is significant in the context of the Timeshare Industry Statistics blog post as it highlights the importance of the Baby Boomer generation in the timeshare ownership demographic. It demonstrates that this generation is a major contributor to the timeshare industry, and that businesses should take this into account when marketing and developing their products. Furthermore, it shows that the timeshare industry is adapting to the needs of this generation, which is likely to have a positive impact on the industry’s growth.

Around 72% of timeshare owners plan to travel the same or more in the next two years compared to the past two years.

This statistic is a testament to the enduring popularity of timeshares, as it shows that the majority of owners are still planning to use their timeshares in the future. This indicates that timeshares are still a viable option for travelers looking for a reliable and cost-effective way to vacation. It also suggests that the timeshare industry is likely to remain strong in the coming years.

Timeshare sales have an average closing rate of 15% for first-time visitors.

This statistic is a telling indication of the success of the timeshare industry, as it demonstrates that a significant portion of first-time visitors are converting into customers. It is a valuable insight into the effectiveness of the industry’s marketing and sales strategies, and provides a benchmark for future performance.

The Asia-Pacific region has the fastest-growing timeshare market, with more than 6.7 million people having a timeshare product.

This statistic is a testament to the booming timeshare industry in the Asia-Pacific region, highlighting the immense potential for growth in the region. It is a clear indication that timeshare products are becoming increasingly popular in the region, and that the industry is likely to continue to expand in the near future. This is an important statistic to consider when discussing the timeshare industry, as it provides insight into the current state of the market and its potential for growth.

Conclusion

The timeshare industry is thriving, with an average unit cost of $22,180 and annual sales exceeding $10.5 billion. In the United States, approximately 9.6 million households own one or more timeshares, and there are 5,669 resorts worldwide that offer them. Around 67% of owners report satisfaction with their purchase, and the industry provides over 540,000 full-time jobs globally.

On average, each resort has 131 units, with Florida holding 28% of all U.S.-based units. Financing is used in 90% of these purchases, and it typically includes a maintenance fee averaging around $1,000 per year for interest holders. Additionally, 25% of the units have lock-off features or separate living spaces, and there is an 81.1% occupancy rate for vacations lasting an average of 7 days, primarily among Baby Boomers who constitute 35% of the market.

Furthermore, 72% of timeshare owners plan to travel the same amount or more in the next two years compared to the past two years. However, dissatisfaction can be attributed to fees, restrictions, and the difficulty of exchanging timeshares, which has a 15% closing rate when first visiting a property.

The industry also plays a significant role in the global economy, with over 200,000 branded hotel/resort chain products contributing over $30 billion annually. The Asia Pacific region, in particular, is experiencing rapid growth, with over 6 million people owning timeshare products, making it the fastest-growing market overall.

References

0. – https://www.statista.com

1. – https://www.rdo.org

2. – https://www.licenseglobal.com

3. – https://www.arda.org

4. – https://www.resorttrades.com

FAQs

What is the timeshare industry?

The timeshare industry is a segment of the vacation ownership market that involves purchasing the right to use a vacation property or resort for a specific period each year. It allows multiple parties to share the cost and usage of a property, usually ranging from one to several weeks per year.

How does a timeshare purchase work?

A timeshare purchase typically involves buying a share of a property or an interval of time in a resort. The buyer then has the right to use the property or resort for a specified period each year, often dictated by a points system or set calendar weeks. Timeshare agreements can be a fixed week, floating week, or a points-based system, each with varying levels of flexibility.

What is the average cost of a timeshare?

The cost of a timeshare can vary significantly depending on factors such as location, property type, and brand. As of 2019, the American Resort Development Association reported the average purchase price of a new timeshare in the United States to be approximately $22,942. However, prices can range from a few thousand dollars to over $100,000 for luxurious properties in desirable locations.

Are timeshares a good investment?

Timeshares are typically not considered a good financial investment as they often depreciate in value and come with ongoing maintenance fees and special assessment costs. However, for people who prioritize annual vacations and appreciate the consistency and familiarity of a specific destination, a timeshare may be a wise investment in terms of experience, convenience, and potential savings on accommodations over the long term.

How can a timeshare be resold or exchanged?

Timeshare owners can sell or exchange their timeshare through several channels, including using a resale company, advertising online, or working with a licensed real estate agent familiar with timeshare resales. Additionally, many timeshare companies now offer internal exchange programs that allow owners to trade their annual usage for a stay at another property within the company's network or affiliated external exchange programs like RCI or Interval International, providing more flexibility and variety in vacation options.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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