The American Resort Development Association (ARDA) today released the “U.S. Shared Vacation Ownership Owners Report: 2022 Edition,” published and sponsored by the ARDA International Foundation (AIF). The report details the products owned, vacation habits, attitudes toward timeshare, future vacation plans and demographics of timeshare owners. For an overview of key statistics and a link to the full report, click here.
The 2022 report found 90% of timeshare owners are happy with their overall ownership experience. Additionally, 84% of owners would purchase a timeshare product again, a significant increase from 77% in 2020, and 82% of owners would recommend timeshare in general.
“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 first began publishing the Owners Report in 2006, it has captured a steady youth movement regarding the overall age of timeshare owners and purchasers. According to the 2022 report, Gen Z and Millennials now account for more than half of all timeshare owners (57%), more than half of new sale purchasers (53%), and nearly two-thirds of resale purchasers (65%).
“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.”
Today’s timeshare products allow for flexibility in where owners go, for how long, and even provide the ability to take a cruise or embark on a different travel experience altogether. Owners are enjoying these options and continue to rate “overall flexibility” and “exchange opportunities” as their top reasons for purchasing a timeshare.
In 2021, owners took an average of 4.1 vacations, and 78% used, exchanged, or converted their timeshare. Looking ahead, more than 60% of owners plan to spend both more time and more money on vacations in 2022 – both up substantially from the approximately 30% who planned to in 2020.
The 2022 report noted a significant shift in where owners are interested in owning a timeshare. City/urban areas increased in attractiveness from 34% in 2020 to 44% in 2022, while beachfront/coastal areas declined in attractiveness from 47% in 2020 to 39% in 2022. However, this shift may be attributed to the coronavirus pandemic, which began in early 2020 and caused travelers to opt for vacations in outdoor settings rather than urban destinations. Now, in 2022, travelers may simply be returning to popular city-centered vacations.
The U.S. Owners Report is conducted every two years. The data in this report was collected via online methodology from March 13, 2022, through March 31, 2022. A total of 1,600 timeshare owners were identified and surveyed. To qualify, respondents had to be a minimum age of 18, self-identify as the primary household decision-maker for vacation planning, and own timeshare week(s) or points within North America.
Based in Washington, D.C., ARDA is the trade association for the timeshare industry. ARDA’s membership comprises over 500 companies (both privately held firms and publicly traded corporations), which house 5,000-plus individual ARDA members. ARDA’s active, engaged members have extensive experience in shared ownership interests in leisure real estate. To learn more, visit arda.org.
AIF began in 1982 as the International Foundation for Timeshare (ITF) to fulfill the research needs of the fast-evolving timeshare industry. In 1997, it was restructured as a 501(c)3 organization and acquired its current name. AIF meets the industry’s research and education needs through identifying consistent and ongoing benchmarks, expanding research, analyzing technological changes and impacts, and enhancing the public’s knowledge of the timeshare industry.