Vacationers are loving their timeshares! The U.S. timeshare industry enjoyed a sixth straight year of steady growth in 2015, according to the State of the Vacation Timeshare Industry: United States Study 2016 Edition, conducted by Ernst & Young for the ARDA International Foundation. Here are a few of the highlights from the research:
When comparing 2015 to 2014:
- Sales volume increased by nine percent, to $8.6 billion, the second largest increase since the recession and a 9% increase over last year.
- There are 1,547 timeshare resorts in the United States, representing about 200,720 units.
- The average sales price was $22,240.
- Occupancy increased two percent, up to almost 80 percent, compared to a 661 percent hotel occupancy rate.
There were some other interesting facts to note as well:
- 70% all timeshare units are two bedrooms or more. An average one-bedroom unit is 700 square feet; an average two-bedroom unit is 1,180 square feet and an average three-bedroom unit is 1,660 square feet—compared to the average hotel room size of 350 square feet.
- Beach resorts are the most common type of resort.
- Theme park resorts have the highest occupancy.
- Florida has the most resorts—24% of the national total.
- Nevada has the largest average resort size—230 units on average.
- Hawaii has the highest occupancy rate for a region, at 86.7%.