US leisure travellers more familiar with time-sharing and its benefits
MIAMI, FL:
Interval International, a leading provider of vacation services
and an operating business of IAC (Nasdaq:IACI), recently released
its Future Timeshare Buyers: Market Profile 2007 that revealed significant
growth in familiarity with the concept of time-sharing among U.S.
leisure travelers since the study was first conducted in 1999. In
fact, 91 per cent of these travelers indicated awareness of time-sharing
today in comparison with 68 per cent seven years ago.
"Consumer awareness of time-sharing has grown at a remarkable
rate since 2000, driven by the aggressive development of timeshare
resorts and more extensive media coverage of the benefits of ownership,"
said Peter C. Yesawich, chairman and chief executive officer of
Ypartnership, co-author of the annual survey with Yankelovich, Inc.
The annual study, developed exclusively for Interval International,
is prepared from data collected for the YPB&R/Yankelovich, Inc.
2007 National Leisure Travel MONITORSM, a closely watched annual
survey of the travel habits, preferences, and intentions of Americans
that offers resort developers and marketers unique insights into
the emerging lifestyles and travel trends of Americans who are interested
in owning vacation time. The results were announced at the 9th annual
Vacation Ownership Investment Conference held in Orlando, Florida.
According to the study, leisure travelers interested in purchasing
vacation time have a strong commitment to their values, personal
needs, and lifestyles. This commitment is evident in their demand
for personalisation and customisation. They also are known for seeking
originality, trying new products ahead of other people and are more
likely to associate having a balance between work and personal life
with success and accomplishment.
seeking new opportunities
"Leisure travellers are actively seeking new opportunities
to re-connect with family, by combining new and engaging experiences
with the comforts and spaciousness of home. Today's resort timeshare
product and the breadth of vacation experiences and destinations
it offers satisfies their travel and holiday demands, while simultaneously
adding to their own personal image of success and self worth,"
noted Howard A. Bendell, director of market research and analysis
for Interval International.
Another impressive finding: growing 57 per cent from the number
of respondents who reported familiarity with the concept of time-sharing
eight years ago, nearly six in 10 U.S. pleasure travelers now consider
themselves to be knowledgeable about the main features of time-sharing.
What's more, these travelers are very interested in attending a
timeshare presentation or taking a two- to three-day mini-vacation
that includes a sales presentation (76 per cent), and are more likely
to stay at a vacation ownership resort (62 per cent).
The typical U.S. leisure traveler interested in purchasing vacation
time is white (79 per cent), married (63 per cent) and has an annual
household income of $50,000 or more (66 per cent). Nearly four in
10 have completed four years of college education (39 per cent),
are part of the Baby Boomer generation (36 per cent between 42 to
60 years of age) and have white-collar professional occupations
(36 per cent). Generation Xers (28 to 41 years old) represent a
market of emerging potential purchasers for developers because of
their increasing interest in vacation time.
planning vacations
Among the future leisure travel patterns and preferences measured,
the study found that nearly all leisure travellers who are interested
in purchasing vacation time are planning to take one or more leisure
trips during the next 12 months. Weekend trips remain the most popular.
Nearly two-thirds of prospective timeshare buyers intend to take
a cruise during the next two years. Also, their preferred vacation
destinations are Florida (34 per cent), Hawaii (29 per cent), and
California (27 per cent). Europe (58 per cent) remains the preferred
international destination of choice among leisure travelers interested
in purchasing timeshare, followed by Australia (23 per cent) and
the Caribbean (16 per cent).
"The results of the 2007 survey reveal, once again, that time-sharing
has gone mainstream among U.S. leisure travellers, and this evolving
consumer sentiment augers well for the continued growth of the industry,"
concluded Yesawich.
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