The timeshare industry is much larger than you might realize. It is also very lucrative for a number of operators who have honed their selling skills and managed to successfully share the dream of vacation ownership to an ever-growing number of people.

It is also an industry that has a reputation for its fair share of sharp practices and pressurized selling tactics. Not everyone is dissatisfied with the timeshare deal they have signed up for, of course, but some find they would like to reverse their original decision.

You can always get a free timeshare cancellation consultation if you are exploring options on how to extricate yourself from an expensive or unwanted contract.

Most of us know what a timeshare is and what it involves. However, it is interesting to drill deeper and learn about some of the key statistics and trends that drive the burgeoning timeshare industry forward.

How many owners are there in the US?

A good starting point would be to look at ownership trends in one of the biggest timeshare customer markets in the world, the United States.

Almost 10 million households have a registered owner of some form of timeshare.

There are various timeshare products that are included in this number. These include schemes such as timeshare weeks, fractional ownership arrangements, points-based schemes, and private residence clubs.

Whichever way you look at this huge number, it demonstrates that despite its reputation for being a product that is sometimes subject to pressurized selling tactics, it maintains an enduring appeal to many and there is extensive interest in buying some form of vacation option.

Key financial insights

There are several major financial decisions you often make in your life, such as buying a home and starting a family. Buying a timeshare is also a big financial commitment and the industry generates a huge amount of revenue.

It is estimated that timeshare guests spend over $11 billion annually during their stays, with almost $3 billion of this sum being spent directly at the host resort.

The remaining figure of about $8 billion is estimated to be spent within the communities that serve the timeshare resort.

What are typical occupancy rates for a timeshare?

As you might expect, occupancy rates can vary greatly between resorts. Some venues are extremely popular and enjoy almost maximum occupancy rates, whereas others may not be as busy.

The overall trend is for an average occupancy rate that is close to 80%. This is an important number to focus on if you are buying a timeshare and want to know how easy it will be to generate accommodation revenue.

The high overall occupancy rate percentage suggests that there is sustained interest in timeshare opportunities and rentals.

How is the timeshare industry responding to economic challenges?

Significant challenges such as the global pandemic certainly had an impact. However, recent figures suggest sales grew by 7% in the last year.

This growth is an indication of how the industry has had to innovate in order to continue to generate revenue and attract new buyers to timeshare opportunities.

Despite the continued popularity of timeshares, as highlighted by the industry figures, it is always vital to fully understand the true cost of timeshare ownership and the financial implications attached to making that decision to buy.

Published: 2023-10-18 14:16:53