Every year one of the most notable organizations in the timeshare industry, the American Resort Development Association, releases a report entitled Vacation Timeshare Owners Report. The report is a study of timeshare owners across the United States and gives people in the industry a snapshot of timeshare owners and any new trends. The report found 6 out of every 10 timeshare owners were age 45 or older and reported an annual household income of $92,405, however the study indicated that 58% of all new timeshare owners were under the age of 45 showing timeshares are not just for baby boomers and retired travelers, they also appeal too a new generation of vacation seekers. Timeshare owners who purchased a timeshare recently stated they decided to buy a timeshare for a number of different reasons including condition of resort accommodations, reputation of timeshare company, and to save money on future vacations. The report also indicated that travelers are renting from a timeshare resort before they decide to buy, basically testing the product instead of purchasing site unseen. Of the new owners surveyed 4 out of 5 purchased a timeshare directly from the resort.

The Good and Bad
There are a couple of trends that I find encouraging for the timeshare industry and timeshare buyers alike. The report indicates that more people below retirement age are beginning to see the benefits of owning a timeshare and deciding to buy a timeshare. This means there is a whole new generation of travelers that will be interested in timeshares and searching for bargains around the world, opening up numerous possibilities for both resorts and the secondary market. I was also pleasantly surprised to find that many of the new owners had decided to rent a timeshare at the resort they were considering before actually purchasing a week. For years I have been telling potential buyers to not only search reviews on the internet but visit the resort itself and view all of the amenities with your own eyes before purchasing. When visiting the resort be sure to note all amenities, likes and dislikes, and services offered by the resort, this will help buyers make an informed decision and be less likely to experience buyer’s remorse when they do finally decide on the resort.

The summary of this report indicated that 4 out of 5 new timeshare owners were still purchasing a timeshare directly from the resort. This shows that travelers are still overpaying for timeshare units and made to believe that purchasing from a timeshare resort is the best option. However, in the resale market the same unit can be purchased for a fraction of price, regular readers of this blog know how big a mistake these new owners are making by purchasing from the resort. One of the main reasons those surveyed gave for purchasing the timeshare was cost savings in the future, why not purchase a timeshare resale and save thousands of dollars from the very beginning of the experience. This shows many people do not know about purchasing a timeshare in the secondary market before it is too late.

Overall timeshare owners have been happy with their experience as 86% of them said that owning a timeshare was an excellent, very good, or good experience. What do you think, how has your timeshare experience been?

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