The number of U.S. households owning timeshares has reached 1,767,000, with a compounded annual growth rate of 9 percent, according to a study released by the American Resort Development Association. The group also said that in 1996, 218,000 interval weeks sold at an average price of $10,000 a week.
U.S. timeshare inventory includes 1,204 timeshare resorts and an estimated 64,300 individual timeshare units.
The opportunity to exchange was ranked as the most important motivation for purchasing by owners surveyed. Nearly half (42 percent) of owners surveyed exchange their timeshare for time at another resort. Quality of accommodations, good value, desirability of the timeshare unit, resort amenities and features, and the ability to exchange to non-U.S. resorts were cited by owners as other highly rated reasons for purchasing.
Median annual income of U.S. timeshare owners was reported at $71,000, with 10.6 percent of owners reporting household incomes under $40,000 and 11.6 percent reporting incomes of $125,000 or more.
The study was based on a national survey of 729 U.S. timeshare resorts and 2,653 U.S. timeshare-owner households.