According to a study by ARDA International Foundation, in 2020, the sales volume of timeshares was at $4.9 billion and in 2021 rose to $8.1 billion.
The average sales volume wasn’t the only increase in the industry. Average occupancy rose from 49.2% to 73.1%, and rental revenue was up to $2.2 billion. The timeshare industry has experienced colossal revenue growth since the world opened up, and travel has become an option. In 2021, the timeshare industry took significant strides to return to normalcy.
Why Timeshares Are Experiencing a Comeback
Timeshares are making a comeback after COVID-19 protocols, and safety restrictions prevented people from traveling. Now that everyone can get back into traveling, timeshares are an alternative in lieu of buying a second vacation home to ensure a vacation year after year. As the name implies, a timeshare is a resort offered to owners as a unit in which they can use an increment of time for vacation every year. So, you are sharing a unit with others but “own” an assigned week. In the past, owners of timeshares received a fixed week at their resort every year. Today, the best vacation clubs and brands use a points-based system, enabling greater freedom and flexibility. In the United States, there are over 1500 timeshare resorts with over 270,000 units. Various hospitality companies, such as Marriott, Hilton, Wyndham, and even Disney, own timeshare resorts around the world, allowing their owners to travel to almost any destination, especially when they have an exchange membership. By joining a vacation club, you get access to traveling to different resorts. Points are distributed to owners each year. Allotment amounts give owners flexibility and control over when and where they book, giving them access to hotels and resorts of all sizes, during different seasons, and for varying lengths of stay.
Rental Timeshare Properties
Anyone can rent a timeshare from owners. Not to mention, you can find incredible deals on timeshares for rent by the owner. Renting a timeshare is the perfect solution before buying or simply finding a steal on vacation. For maximum comfort, timeshare resorts offer more space than a traditional hotel room, complete with a fully equipped kitchen and a private bedroom. As well as paying less than the average traveler, timeshare guests also have extra amenities. Additional amenities include a washer/dryer, housekeeping, concierge, on-site staff, pools, spas, fitness centers, events and activities.
Timeshares Are Preferred Over Hotels and Home Vacation Rentals
Travelers prefer timeshares over hotels, and they have even preferred them over home vacation rentals because of the amenities and security. Before and after the pandemic, timeshares have had a higher occupancy rate than hotels. Over 85% of all travelers rate their timeshare experience as excellent, very good or good. ARDA estimates that a timeshare unit has an average size of 1030 square feet, which is greater than the average apartment. In addition, 61% of timeshares have two bedrooms. Over a lifetime, timeshares are proven to cost tens of thousands of dollars less than hotels or vacation rentals because of their outstanding amenities and spacious units.
Purchase a Timeshare
With so many people itching to get back into traveling, it is no surprise that travel prices have increased on flights, hotels, gas and more. Purchasing a timeshare can ensure that you won’t have to worry about inflation by paying for a lifetime of vacations upfront. For those interested in buying a timeshare to save on vacations and beat inflation, resales offer great deals. In addition, owning a timeshare secures owners a place to stay on vacation year after year with no change in cost.