What is a timeshare? A timeshare is also referred to as a vacation ownership property or a shared vacation. A timeshare is where there are multiple owners that use the same vacation property for a certain amount of time each year. The vacation ownership property is paid for with a financial arrangement. A timeshare is a wonderful way that people can plan and pay ahead for their vacations. The timeshare owners have the right to stay at the timeshare property for a set time each and every year. Usually, there are approximately twenty-five to fifty two timeshare owners, which means that each timeshare owner can spend one to two weeks each year at the timeshare property. If you want to learn about the historical stats on timeshares, then continue to read below.
More Prospective Timeshare Buyers
There are more prospective timeshare buyers along with current timeshare owners that want to have more choices and flexibility with their vacations. The timeshare buyers and owners don’t want to have only one vacation property that they have to use, and they want to have a variety of choices for their vacations, while still enjoying high quality services and amenities that timeshares can provide for them. Timeshare companies understand these preferences and consequently, they are developing more timeshare exchange programs with other resorts, so timeshare owners can use their timeshare vacation time at numerous timeshare resorts that are associated with their timeshare company and group. This ensures that timeshare owners will have the flexibility and choice with their timeshare vacation time.
Timeshare Exchange Fees and Incentives
Sometimes the timeshare company will charge their members an extra fee to use the timeshare exchange, but there are some timeshare companies that are now using a point based system that allows timeshare owners to save their points so they can plan ahead for vacations at another resort or for added activities, tours, and meals. Timeshare members will have to go over the rules with their timeshare company as sometimes the points can only be used at certain times of the year.
Timeshare Industry Statistics
The timeshare industry continues to be a very successful market, despite timeshare ownership drawbacks. In 2007, over ten billion dollars was spent in timeshare sales, then in 2009 a substantial decline occurred and timeshare sales decreased to 6.3 billion dollars. Since 2009 when the timeshare industry hit a record low, timeshare sales have been steadily increasing each year, but 2007 is still the year that timeshare sales had an all-time record selling year.
Recent Timeshare Sales
In 2014 in the United States, approximately 7.9 billion dollars were spent for timeshare sales and there were nearly 400,000 timeshare membership purchased. During that time, the average price of a timeshare membership was approximately $20,000. Have you ever wondered how many individuals that attended a timeshare presentation actually bought a timeshare membership? Generally, 15% of the individuals purchased a timeshare membership that attended a timeshare presentation.
Have you enjoy reading the historical stats of timeshares?