This report bodes well for the timeshare industry, indicating steady growth in 2014.
WASHINGTON – July 16, 2015 – The U.S. timeshare industry enjoyed steady growth in 2014, according to the State of the Vacation Timeshare Industry: United States Study 2015 Edition, conducted by Ernst & Young for the ARDA International Foundation. Compared to 2013, sales volume increased by more than four percent and occupancy is up by two percent.
“Seeing an increase in our key metrics demonstrates that timeshare is poised for a bright future,” said Howard Nusbaum, president and CEO of the American Resort Development Association (ARDA). “And one of the main reasons is that vacationers love what timeshare vacations offer, including the fact that over 70% of units are two-plus bedrooms and an average 1,160 square feet of living space—most with full kitchens!”
There were 1,555 timeshare resorts in the United States in 2014, representing about 198,490 units for an average resort size of 128 units. The sales volume rose from $7.6 billion in 2013 to $7.9 billion in 2014, a four-percent increase. Occupancy increased two percent, up to 78 percent, compared to a 64 (1) percent hotel occupancy rate.
Other interesting findings from the study include: beach resorts are the most common type of resort, with theme park resorts claiming the highest occupancy. Island resorts have the highest average sales price and Florida has the most resorts (23% of the national total). Nevada has the largest average resort size (182 units on average), and the Midwest has the lowest average maintenance fees ($645 per interval), while Hawaii has the highest occupancy rate (85.3%).
The report was conducted by Ernst & Young and commissioned by the American Resort Development Association (ARDA)