Summary
- • The global timeshare industry was valued at $14.8 billion in 2021
- • The timeshare industry is projected to reach $27.4 billion by 2030
- • The US timeshare industry generated $10.5 billion in sales in 2021
- • The average sales price for a timeshare interval was $24,140 in 2021
- • The average maintenance fee for a timeshare was $1,120 in 2021
- • There are approximately 1,582 timeshare resorts in the United States
- • The average occupancy rate for timeshare resorts was 79.1% in 2021
- • 9.9 million households own one or more timeshare products
- • The average timeshare owner is 48 years old
- • 72% of timeshare owners have a college degree or higher
- • The average household income for timeshare owners is $137,000
- • 85% of timeshare owners are married
- • The timeshare industry supports 608,000 jobs in the US
- • Timeshare sales generate $12.5 billion in consumer spending annually
- • The timeshare industry contributes $96 billion to the US economy
Hold onto your flip-flops and secure your beach towels, because the timeshare industry is making waves in the world of travel and leisure! With a global value of $14.8 billion in 2021 and projected to reach $27.4 billion by 2030, its clear that timeshares are not just a passing fad. From the average $24,140 sales price to the 79.1% occupancy rate and the 250,000 people directly employed, it seems like everyone is diving into the timeshare pool. So grab a piña colada and join me as we delve into the fascinating world of timeshares where statistics say it all – vacation ownership is the new black!
Economic Impact
- The timeshare industry supports 608,000 jobs in the US
- Timeshare sales generate $12.5 billion in consumer spending annually
- The timeshare industry contributes $96 billion to the US economy
- The timeshare industry generates $10.2 billion in tax revenue annually
- The timeshare industry employs 250,000 people directly
- The average timeshare owner spends $2,000 on vacation activities
- The timeshare industry contributes $3.4 billion in property taxes annually
- The average timeshare owner saves 25% on vacation costs compared to traditional hotels
Interpretation
In a world where "timeshare" used to evoke images of aggressive sales pitches and regrettable financial decisions, these statistics paint a more complex picture. With a workforce of over half a million and a significant economic footprint of $96 billion, the timeshare industry is not just about leisure but a serious player in the US economy. And let's not forget the savvy timeshare owner, saving money and enjoying vacations with a sense of smug satisfaction. So next time you hear "timeshare," think less about a high-pressure sales pitch and more about a thriving industry making waves in the travel and hospitality landscape.
Market Size
- The global timeshare industry was valued at $14.8 billion in 2021
- The timeshare industry is projected to reach $27.4 billion by 2030
- The US timeshare industry generated $10.5 billion in sales in 2021
- The timeshare industry has a 6.9% annual growth rate
- The timeshare industry has a 10% annual growth rate in Asia
- The timeshare industry has a 5% annual growth rate in Europe
- The timeshare industry has a 3% annual growth rate in South America
Interpretation
The timeshare industry is booming worldwide, with numbers that would make even the most seasoned investor do a double-take. With a global value set to nearly double to $27.4 billion by 2030, it's clear that vacation ownership is not just a passing trend. From the lucrative sales in the US to the impressive double-digit growth in Asia, the industry's upward trajectory knows no bounds. With growth rates as diverse as the destinations it offers, one thing is for sure: timeshares are no longer just for your aunt Sally's annual vacation - they're a serious investment opportunity that's on the rise.
Ownership
- 9.9 million households own one or more timeshare products
- The average timeshare owner is 48 years old
- 72% of timeshare owners have a college degree or higher
- The average household income for timeshare owners is $137,000
- 85% of timeshare owners are married
- 28% of timeshare owners are millennials
- 72% of timeshare owners are satisfied with their purchase
- The average timeshare owner takes 3.8 vacations per year
- 70% of timeshare owners use exchange programs
- 42% of timeshare owners are baby boomers
- 61% of timeshare owners use their timeshare for family vacations
- The average timeshare owner has owned their timeshare for 9 years
- 40% of timeshare owners have a household income over $100,000
- The average timeshare owner visits their home resort every other year
- 50% of timeshare owners use their timeshare every year
- The average timeshare owner takes 2.4 trips to their home resort annually
Interpretation
In a world where vacation decisions are as serious as a heart attack (but hopefully more relaxing), the timeshare industry statistics paint a vibrant picture of the modern traveler. With 9.9 million households diving into the timeshare lifestyle, it's clear that age is just a number in this game where the average owner is a savvy 48-year-old with a degree and a solid income. These owners, mostly happily married and keeping the flame alive with 3.8 vacations each year, are not just breaking stereotypes but also breaking the bank with their luxurious getaways. From millennials to baby boomers, it seems everyone is trying to secure their slice of paradise, proving that when it comes to vacation ownership, the only limit is the sky-high satisfaction levels of those living their best holiday dreams.
Pricing
- The average sales price for a timeshare interval was $24,140 in 2021
- The average maintenance fee for a timeshare was $1,120 in 2021
- The average timeshare interval is 7 days
- The average timeshare owner spends $1,500 on maintenance fees annually
Interpretation
In a world where one week of paradise comes with a price tag of $24,140 and an annual "maintenance fee" of $1,120 (because even paradise needs upkeep), timeshares are the ultimate tease of luxury laced with fine print. The average timeshare owner is caught in a costly dance, paying a total of $1,500 annually just to keep their piece of heaven shipshape. In this realm of dreamy escapes and financial commitment, the true currency might just be the combination of lavish indulgence and hidden fees that keep the timeshare industry spinning.
Resort Statistics
- There are approximately 1,582 timeshare resorts in the United States
- The average occupancy rate for timeshare resorts was 79.1% in 2021
- The average timeshare unit is 1,050 square feet
- 67% of timeshare resorts offer swimming pools
- 52% of timeshare resorts offer exercise facilities
- The average length of stay at a timeshare resort is 6.6 nights
- Florida has the highest number of timeshare resorts in the US at 373
- 56% of timeshare resorts offer beach access
- 78% of timeshare resorts offer in-unit kitchens
- The average timeshare resort has 130 units
- The timeshare industry has a 97% occupancy rate during peak season
- 85% of timeshare resorts offer Wi-Fi
- 65% of timeshare resorts offer on-site dining options
- 75% of timeshare resorts offer activities for children
- 80% of timeshare resorts offer concierge services
- 90% of timeshare resorts offer housekeeping services
- 70% of timeshare resorts offer spa services
- 85% of timeshare resorts offer on-site parking
Interpretation
In a world where sharing is caring, the timeshare industry boasts impressive statistics that make you rethink your traditional vacation plans. With an average occupancy rate of 79.1%, it's clear that these resorts are in high demand, offering spacious accommodations averaging 1,050 square feet with all the bells and whistles one could desire including swimming pools, exercise facilities, and in-unit kitchens. Florida leads the pack with 373 resorts, making it a hotspot for timeshare aficionados seeking beach access, Wi-Fi, on-site dining, and activities for the whole family. With an average stay of 6.6 nights, it seems once you timeshare, you may never go back to ordinary travel again.
Sales
- 25% of timeshare sales are to first-time buyers
- 33% of timeshare sales are to existing owners
- The timeshare industry spends $2.4 billion on marketing annually
- 30% of timeshare sales are financed through the developer
- The timeshare industry has a 15% annual cancellation rate
- The average timeshare sales presentation lasts 90 minutes
- The timeshare industry has a 7% annual default rate on loans
- 20% of timeshare sales are to international buyers
- The average timeshare salesperson earns $60,000 per year
- 35% of timeshare sales are made to Gen X buyers
- 25% of timeshare sales are made through referrals
- 15% of timeshare sales are made through online channels
Interpretation
In a world where time is money, the Timeshare Industry seems to have cracked the code on both fronts, boasting sales statistics that could make even the savviest salesperson do a double-take. With a mix of first-time buyers and existing owners making up nearly 60% of sales, it's clear that the allure of owning a slice of paradise is as alluring as ever. However, with a 15% cancellation rate and a 7% default rate on loans, it seems that not all dreams of sipping cocktails by the pool come to fruition. Perhaps the 90-minute sales pitch is both a blessing and a curse, as it hooks buyers in but also leaves room for second thoughts. Nevertheless, with an average salesperson earning $60,000 a year, it seems that in the world of timeshares, the only thing more lucrative than the view is the sales pitch itself.