Orlando, Florida – The ownership of shared resort real estate has become a preferred way to vacation for millions of Americans, according to the latest national research commissioned by timeshare giant Interval International.
The company said that an estimated 12 million adults now own what is commonly referred to as timeshare and among the most appealing attributes associated with shared ownership is the ability to exchange, cited by eight in 10 owners.
“The observations of this report, when viewed through the lens of current shared resort real estate owners, as well as non-owners who are interested in purchasing, will enable developers to compete more effectively in the broader lodging and hospitality sector,” said Peter Yesawich, vice chairman of MMGY Global, which carried out the report. “The implications suggest that the preferred product offerings and services will continue to evolve with the shifting social values of today’s leisure travellers. The results also reveal that the concept of shared ownership aligns well with marketplace trends, which bodes well for continued industry growth.”
He said the company believed the study would be useful for developers and marketers as it examined the changing travel habits, preferences and intentions of existing and prospective owners.
Survey findings
Notable findings of the survey, which was collected during June and July 2012 using a nationally representative panel of United States consumers, pre-qualified and screened for specific demographic and behavioural characteristics, included:
Leisure travellers interested in purchasing shared resort real estate tend to be married (63 per cent) and an average 42 years old. Approximately four in 10 report having children who live in their household full time.
Leisure travellers interested in purchasing shared resort real estate took an average of slightly more than three (3.4) leisure trips during the past 12 months and spent an estimated $1,730 on lodging accommodations.
Eight in 10 leisure travellers who are owners (80 per cent) and a comparable percentage of prospective purchasers (84 per cent) prefer a beach or lake experience on vacation.
Nearly nine in 10 prospective purchasers are interested in staying at a condominium-style resort during the next two years.
Mini-vacations and weekends at shared ownership resorts are, by far, the most highly rated incentives to participate in a sales tour, with eight in 10 leisure travellers who are prospective purchasers (83 per cent) citing their appeal.
These findings are from the newly-released Shared Resort Real Estate Ownership 2012: A Market Perspective, which was distributed at the 14th Annual Shared Ownership Investment Conference held from 18-20 September in Orlando.
The survey was conducted by MMGY Global with a nationally-representative sample of 810 active leisure travellers who met specific criteria with respect to their age and annual household income. Respondents were adults who took at least one trip for leisure purposes of at least 75 miles away from home that required overnight accommodations during the previous year; were between 25 and 64 years of age; reported a minimum annual household income of US$50,000.
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