A timeshare, also known as a shared vacation or vacation ownership property, is a financial arrangement where multiple owners have the right to use a vacation property for a specified time period each year. It is a great way to plan ahead for your vacation accommodation costs by investing in a timeshare or vacation ownership property. Timeshare owners have a claim to a portion of the vacation property and they can stay in the property for a set time each year. In general, most timeshares are owned from between twenty-five to fifty-two owners. This means that timeshare owners typically spend one to two weeks each year at their timeshare unit. Continue reading below to learn more about timeshare statistics and trends in recent years.
Timeshares: More Flexibility and Choice
Currently, more prospective timeshare buyers and legitimate timeshare owners want additional flexibility in their vacation choices. Instead of being tied down to one individual vacation property, they prefer to spread their wings and have more choice in their vacation plans, yet also maintain a high level of service and consistent comfort that timeshare ownership can provide. Due to this need, more and more timeshare companies are creating timeshare exchange programs or they are linking up with other resorts to create a multi-resort timeshare provider. The result is that timeshare owners can now use their allocated vacation time at multiple timeshare resorts within the exchange program or timeshare group, so they get the mix of flexibility and comfort they crave.
Timeshare Exchange and Points Programs
From time to time an extra fee is charged by the timeshare company in order to facilitate a timeshare exchange. Some timeshares use a points based system where owners can accrue points to plan ahead for multiple vacations, meals and activities or even tours. Depending on the rules of the timeshare provider, often times the points can only be used at certain times of the year so make sure you check directly with your timeshare provider to clarify.
Very Successful Timeshare Market
Despite some of the drawbacks to timeshare ownership, it is still a very successful market. While the pinnacle of timeshare sales occured in 2007 when 10.9 billion dollars was earned, in 2009 the timeshare industry encountered a substantial decline in timeshare sales when 6.3 billion dollars was earned. However, since record low in 2009, timeshare sales have been enjoying steady increases annually although 2007 remains the year for all time high timeshare sales.
Timeshare Sales Averages
In the United States in 2014, timeshare sales averaged 7.9 billion dollars and more than 397 thousand timeshare units were purchased. At that same time, the average sales price of a timeshare unit was $20,020 dollars. Did you ever wonder out of how many people that attend a timeshare presentation actually end up buying a timeshare? On average, it is estimated that 15 percent of people who attend a timeshare presentation end up purchasing a unit.
We hope you enjoyed reading this article so you can learn more about timeshare facts and statistics.