ARDA, the American Resort Development Association, has released the “U.S. Shared Vacation Ownership Owners Report: 2022 Edition,” published and sponsored by the ARDA International Foundation (AIF).
The research provides information on timeshare ownership products, vacation habits, views about timeshare, upcoming travel plans, and demographics.
According to the 2022 research, 90 per cent of timeshare owners are satisfied with their ownership experience in general. In addition, 82 per cent of owners would recommend timeshare in general, and 84 per cent of owners would buy a timeshare product again, up significantly from 77 per cent in 2020.
“With an extraordinarily high satisfaction rate, the 2022 Owners Report confirms that the timeshare industry is delivering for its owners,” said Jason Gamel, President and CEO of ARDA. “Through great vacation experiences and flexible options, backed by the largest and most trusted brands in the hospitality industry, at top vacation destinations around the country, timeshare continues to be a top option for consumers.”
Since AIF started releasing the Owners Report in 2006, it has shown a consistent upward trend regarding the average age of timeshare buyers and owners. Gen Z and Millennials already make up more than half of all timeshare owners (57 per cent), more than half of buyers in new sales (53 per cent), and over two-thirds of resale purchasers (65 per cent), according to the 2022 research.
“To continue to appeal to younger travelers, the timeshare industry has made it a priority to innovate and evolve to ensure it is meeting ever-changing consumer lifestyle needs and vacation preferences,” added Gamel. “The results clearly speak for themselves as younger generations find timeshare to be the perfect fit for their vacation needs.”
With today’s timeshare products, travelers have more freedom over where they go and how long they stay. They can even take a cruise or choose an entirely different kind of vacation. These choices are popular with owners, who still cite “overall flexibility” and “exchange opportunities” as the main justifications for buying a timeshare.
Seventy-eight per cent of owners used, exchanged, or converted their timeshare in 2021, during which they took an average of 4.1 trips. Looking ahead, more than 60 per cent of owners anticipate increasing their vacation time and spending in 2022, up significantly from the 30 per cent who expected doing so in 2020.
The 2022 research identified a dramatic shift in timeshare owners’ preferences. While beachfront/coastal locations saw a decrease in attraction from 47 per cent in 2020 to 39 per cent in 2022, city/urban areas saw an increase in appeal from 34 per cent in 2020 to 44 per cent in 2022.
The coronavirus outbreak, which started in early 2020 and led tourists to choose outdoor holidays over urban ones, might be to blame for this shift. But on the other hand, travelers may just be returning to well-liked city-center vacations in 2022.
The U.S. Owners Report is produced every two years. The information in this research was gathered online between March 13 and March 31, 2022. Researchers surveyed 1,600 timeshare owners in total. Respondents needed to be at least 18 years old, identify as the household’s principal vacation planner and own timeshare weeks or points in North America to be eligible.
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