ARDA Reports Nine Years of Consecutive Growth for Timeshare Industry
According to the State of the Vacation Timeshare Industry: United States Study 2019 Edition, the timeshare industry has seen growth in the U.S. market for the ninth consecutive year. The study, conducted by EY for the ARDA International Foundation (AIF), reported that in 2018 the average occupancy rate of a timeshare was stable at 80.8%, but still exceeds the average occupancy rate of hotels which was 66.2%. The report also stated that sales volume increased from 9.6 billion to 10.2 billion with almost a 7% increase from the previous year. And finally, rental revenue increased from 2.3 billion to 2.4 billion in 2018.
The timeshare industry has 1,580 resorts in the U.S. and 5,300 resorts worldwide with high brand standards for their guests to enjoy their vacation experience.
"Our members continue to evolve their product and strive to provide owners and guests unique and experiential vacations at a great value," says President and CEO of the American Resort Development Association, Jason Gamel.
Gamel believes the higher occupancy rate in timeshares over hotels is due to the evolving wants and needs of today's vacationers, who wants more than just resort amenities, but special experiences both at the property and around the local community.
"The combination of our on-site staff that are rooted in the community and our single focus on hospitality, enables us to provide guests with the knowledge to experience the local culture and unique activities, whether that be through an immersive cooking class on property or a first-hand recommendation of the area's best kept secrets," says Gamel.