Key Takeaways
- In 2022, U.S. timeshare sales volume reached $10.6 billion from 68,200 vacation ownership units sold, marking a 12% increase from 2021.
- Global timeshare market was valued at $9.82 billion in 2023, projected to reach $16.85 billion by 2030 at a CAGR of 6.5%.
- U.S. timeshare resorts numbered 1,577 in 2022, accommodating over 250,000 units across 15 million owners.
- In 2022, 75% of U.S. timeshare buyers were repeat customers or referrals.
- Average timeshare sales presentation lasted 90-120 minutes, with 55% conversion rate in 2023.
- Timeshare sales teams closed 1 in 3 tours on financed contracts in 2022.
- U.S. timeshare buyers had median household income of $105,000 in 2022.
- 52% of timeshare owners were female in 2023 surveys.
- Average age of timeshare owners was 51 years in U.S. 2022 data.
- Timeshare resale values depreciated 50-70% within first year of ownership in 2023.
- Only 1% of owners successfully sold via company buyback programs in 2022.
- Secondary market volume was $250 million in U.S. 2023, vs $10B primary.
- 75% of BBB complaints about timeshares involved sales misrepresentation in 2022.
- FTC received 5,000 timeshare complaints in 2023, up 20% YoY.
- Maintenance fee increases averaged 8% annually over 5 years to 2022.
The global timeshare industry is thriving with billions in sales and millions of owners worldwide.
Consumer Demographics
- U.S. timeshare buyers had median household income of $105,000 in 2022.
- 52% of timeshare owners were female in 2023 surveys.
- Average age of timeshare owners was 51 years in U.S. 2022 data.
- 68% of owners were married or in partnerships per 2023 ARDA study.
- Baby boomers (55+) comprised 60% of new buyers in 2022.
- 42% of timeshare households had children under 18 in 2023.
- Hispanic buyers grew to 15% of U.S. market in 2022.
- 75% of owners were U.S. residents, 10% Canadian in 2023.
- Millennials (under 40) represented 22% of purchases in 2023.
- Retirees made up 35% of timeshare owners in 2022.
- 80% of buyers owned homes valued over $300,000 median in 2023.
- Women initiated 60% of family vacation decisions leading to buys in 2022.
- 28% of owners had postgraduate degrees in 2023.
- African American buyers increased to 8% in 2022 U.S. sales.
- 55% of owners lived in suburban areas per 2023 census-linked data.
- Gen X (41-56) bought 30% of units in 2022.
- 65% of buyers were employed full-time in 2023.
- International owners from UK were 12% of U.S. market in 2022.
- 40% of owners had annual vacations of 7+ days prior to purchase.
- Single buyers were 18% of total in 2022 sales.
- 72% Caucasian, 15% Hispanic, 8% Asian owners in U.S. 2023.
- Owners with net worth over $1 million were 45% in 2022.
- 50% of buyers came from top 20 U.S. metro areas in 2023.
- 62% of owners planned to pass timeshares to heirs in 2022 surveys.
Consumer Demographics Interpretation
Industry Challenges and Complaints
- 75% of BBB complaints about timeshares involved sales misrepresentation in 2022.
- FTC received 5,000 timeshare complaints in 2023, up 20% YoY.
- Maintenance fee increases averaged 8% annually over 5 years to 2022.
- 30% of owners defaulted on fees due to rising costs in 2023.
- High-pressure sales cited in 60% of lawsuits against developers in 2022.
- Mexico Profeco banned 200 sales reps for fraud in 2023.
- 50% satisfaction drop post-purchase per Consumer Reports 2022 survey.
- Credit damage from defaults affected 10% of owners in 2023.
- EU Timeshare Directive violations led to €10 million fines in 2022.
- 40% of owners reported unwanted upgrade pitches annually in 2023.
- Bankruptcy filings by owners rose 25% in 2022 due to fees.
- 65% of complaints involved false perpetuity claims in 2023 BBB data.
- Developer bankruptcies like Diamond affected 50,000 owners in 2020-2022.
- Rental restrictions blocked 70% of owner income attempts in 2023.
- Scam calls targeting owners cost $20 million in 2022.
- Fee collection agencies pursued 15% of delinquent accounts legally in 2023.
- 55% of surveyed owners felt misled on flexibility in 2022.
- COVID cancellations denied refunds to 80% of owners in 2020-2022.
- Assessment fees for renovations hit $5,000 average in 2023.
- 35% attrition rate among owners after 5 years in 2022.
- U.S. AGs settled $100 million in timeshare suits in 2023.
- 45% reported poor exchange availability in 2023 surveys.
Industry Challenges and Complaints Interpretation
Market Size and Growth
- In 2022, U.S. timeshare sales volume reached $10.6 billion from 68,200 vacation ownership units sold, marking a 12% increase from 2021.
- Global timeshare market was valued at $9.82 billion in 2023, projected to reach $16.85 billion by 2030 at a CAGR of 6.5%.
- U.S. timeshare resorts numbered 1,577 in 2022, accommodating over 250,000 units across 15 million owners.
- Timeshare industry generated $12.5 billion in total revenue in 2023, including fees and maintenance.
- European timeshare market sales hit €2.8 billion in 2022, with Spain leading at 35% share.
- Asia-Pacific timeshare market grew 8.2% YoY in 2023, valued at $2.1 billion.
- U.S. timeshare development costs averaged $450,000 per unit in 2022.
- Interval International network included 3,200 resorts in 2023, representing 80% of global timeshare inventory.
- Mexico timeshare sales reached $1.2 billion in 2022, driven by Cancun resorts.
- Wyndham Destinations reported $4.1 billion in vacation ownership contract sales backlog in Q4 2023.
- Hilton Grand Vacations achieved $2.8 billion in sales for 2023, up 15% from prior year.
- Marriott Vacations Worldwide sales volume was $2.9 billion in 2022.
- Global timeshare ownership households numbered 11.2 million in 2023.
- U.S. timeshare interval sales represented 55% of total volume in 2022.
- Caribbean timeshare market valued at $1.5 billion in 2023, with 20% growth post-COVID.
- Diamond Resorts (HGV) sold 12,000 units in 2022 across 50 resorts.
- Timeshare market penetration in U.S. vacationers stood at 12% in 2023.
- Bluegreen Vacations reported $800 million in sales for 2023.
- World timeshare resorts totaled 6,500 in 2022, per RCI data.
- U.S. timeshare maintenance fees averaged $1,200 per week in 2023.
- Travel + Leisure Co. (formerly Wyndham) had $5.2 billion in 2023 sales.
- Australian timeshare market size was AUD 450 million in 2022.
- U.S. timeshare financed sales accounted for 85% of transactions in 2022.
- Global points-based timeshare systems controlled 65% of inventory in 2023.
- Florida timeshare sales led U.S. states with $2.1 billion in 2022.
- Las Vegas timeshare market generated $1.8 billion in 2023.
- U.S. timeshare exchange transactions hit 2.5 million in 2022 via RCI and Interval.
- Canadian timeshare sales volume was CAD 300 million in 2023.
- Timeshare industry employed 200,000 people globally in 2023.
- UK timeshare market declined to £150 million in 2022 due to regulations.
Market Size and Growth Interpretation
Regulatory and Legal Aspects
- Florida enacted stricter sales laws after 10,000 complaints in 2022.
- FTC Telemarketing Sales Rule requires 3-day rescission for timeshares since 1995.
- EU Timeshare Directive 2008/122/EC mandates 14-day cooling-off since 2011.
- Mexico Profeco fined timeshare firms $50 million for violations in 2023.
- Nevada Gaming Commission regulates Las Vegas timeshare sales licensing.
- ARDA Code of Ethics adopted by 90% of developers in 2022.
- Hawaii requires registration and disclosure documents for all sales since 2004.
- CFPB scrutinized timeshare financing under UDAAP rules in 2023.
- California Rosenthal Fair Pricing Act caps interest on timeshares.
- UK OFT banned cold-calling for timeshares in 2013.
- 12 U.S. states mandate independent legal review for sales over $10,000.
- SEC filings required for public timeshare companies like VAC since 2010.
- Brazil ANATEL regulates timeshare telemarketing under LGPD 2022.
- Arizona AG obtained $5 million settlement for deceptive practices in 2023.
- TTBISA Act of 2021 enhanced federal oversight on sales practices.
- Spain OCU enforced cooling-off compliance with 95% adherence in 2022.
- 85% of resorts compliant with ADA accessibility in timeshare sales per 2023 audit.
- Quebec banned upfront fees for timeshares under 2019 law.
- IRS treats timeshare fees as non-deductible second homes post-2018 TCJA.
- DOL regulates timeshare sales commissions under FLSA overtime rules.
Regulatory and Legal Aspects Interpretation
Resale and Exit Market
- Timeshare resale values depreciated 50-70% within first year of ownership in 2023.
- Only 1% of owners successfully sold via company buyback programs in 2022.
- Secondary market volume was $250 million in U.S. 2023, vs $10B primary.
- Average resale price was $5,000 per week vs $25,000 retail in 2022.
- 85% of resale listings failed to sell within 12 months in 2023.
- Timeshare exit companies charged $3,000-$10,000 fees with 20% success rate in 2022.
- Licensed resale brokers handled 10% of secondary sales in 2023.
- Foreclosure rates on financed timeshares hit 5% in 2022.
- eBay timeshare auctions averaged 10% of retail value in 2023 sales.
- Rental market for timeshares generated $1 billion annually in 2022.
- 70% of owners seeking exit faced transfer fees of $500-$2,000 in 2023.
- Mexico resale market crashed 60% post-2017 regulations.
- ARDA ROC buyback program repurchased 500 units in 2022 at 20% value.
- Online platforms like TUG sold 2,000 weeks under $1 per point in 2023.
- 90% of timeshares lost all resale value after 10 years in 2022 studies.
- Estate sales represented 15% of resales in 2023.
- Hawaii resale prices averaged 30% of original in 2022.
- Fraudulent resale scams cost owners $50 million in 2023.
- Donation programs accepted 5% of exit requests in 2022.
- Bulk portfolio sales by developers totaled $100 million in 2023.
- 40% of owners regretted purchase within 5 years per 2023 survey.
- Florida resale market volume was $40 million in 2022.
- Legal fees for deed-back averaged $2,500 in 2023 exits.
- 25% of resales involved points conversion losses in 2022.
- U.S. states with timeshare right-to-cancel laws saw 15% higher exit rates in 2023.
Resale and Exit Market Interpretation
Sales Performance and Trends
- In 2022, 75% of U.S. timeshare buyers were repeat customers or referrals.
- Average timeshare sales presentation lasted 90-120 minutes, with 55% conversion rate in 2023.
- Timeshare sales teams closed 1 in 3 tours on financed contracts in 2022.
- High-pressure sales tactics led to 40% of sales rescinded within cooling-off period in 2023.
- U.S. timeshare tours numbered 2.8 million in 2022, up 18% from 2021.
- Online timeshare sales grew to 15% of total volume in 2023.
- Mexico resort sales conversion rate averaged 50% during dinner presentations in 2022.
- Timeshare upgrade sales accounted for 30% of total revenue in 2023.
- Average first-time buyer age was 48 in U.S. timeshare sales of 2022.
- 65% of 2023 sales involved points-based products over deeded weeks.
- Las Vegas timeshare sales hit record 25,000 units in 2022.
- Cancellation rates post-sale dropped to 12% in 2023 due to better disclosures.
- Wyndham sales per salesperson averaged $1.2 million annually in 2022.
- 20% YoY increase in timeshare sales to millennials in 2023.
- Hawaii timeshare sales volume rose 22% to $900 million in 2022.
- Digital marketing drove 25% of leads for timeshare sales in 2023.
- Average contract value was $25,400 for U.S. timeshares in 2022.
- Orlando timeshare market saw 15,000 sales in 2023.
- 70% of sales used in-house financing with 14% interest rates in 2022.
- Post-COVID rebound saw 35% sales growth in Q1 2023.
- International buyers made up 18% of U.S. timeshare sales in 2022.
- Timeshare sales close rate improved to 42% with virtual tours in 2023.
- 45% of 2022 sales were to couples aged 40-60.
- Revenue per available unit (RevPAR) for timeshares hit $1,500 in 2023.
- 55% of buyers were college-educated in 2022 U.S. timeshare sales.
- Timeshare resale sales totaled only 2% of primary market volume in 2023.
Sales Performance and Trends Interpretation
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