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Shifting Historic Industry Perception with Owner Data

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Shifting Historic Industry Perception with Owner Data 

By Peter Roth

myths busted

Data is an essential ingredient in any intelligent discussion, and thanks to the work of the ARDA International Foundation (AIF), I believe our industry has the right data to continue to shift away from old industry perceptions and tell our real story. 

The Shared Vacation Ownership U.S. Report: 2016 Edition was a study conducted by AIF that gave us a compelling set of data that allows us to tell our story through the experiences of more than 9.2 million owners. Using the data found in this study we can counter many “myths” our industry might carry from its past. Let’s take a look at six different “myths” we were able to debunk with this research:

Myth #1: Timeshare owners are mostly from an older generation.

Fact: 67% of timeshare owners are between the ages of 18 and 54, and 41% are ages 35-54. Only 33% of owners are over 55, and only 3% are older than 75. 

Myth #2: Timeshare owners are from lower income brackets.

Fact: In general, the incidence of timeshare ownership increases with household income. Approximately 6.9% of the U.S. population owns timeshare, and 10.9% of those owners have $100K+ of annual household income (compared to 5.3% earning under $50K annually).

Myth #3: Retirees make up the largest group of timeshare owners.

Fact: Only 19% of timeshare owners are retired as compared to 67% either hold a fulltime job or are self-employed.

Myth #4: Timeshare owners are not highly educated.

Fact: This could not be further from the truth. 42% of timeshare owners have a college degree and 21% hold a graduate degree—with only 12% having a high school degree or less.

Myth #5: Most timeshare owners want to get out of their contract.

Fact: 70% of owners would recommend timeshare ownership, and nearly three quarters would recommend their home resort to others, based upon their experience.

Myth #6: All timeshare owners disliked the buying experience.

Fact: More than seven out of 10 recent purchasers (71%) found their buying experience to be excellent or good.

It is important for individual brands and industry members to weave these facts into their stories to discredit the old “myths” of our industry.

 


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