Timeshare In Caribbean Raked In $235M In Sales In 2000

MIAMI— The American Resort Development Association (ARDA) recently released the findings of a study on the timeshare industry in the Caribbean. The study showed that 33,000 timeshare intervals at more than 63 resorts generated approximately $235 million of vacation ownership sales during the year 2000. Survey results also suggested that the resort timeshare industry was responsible for generating more than $1.2 billion of economic impact during the same period throughout the Caribbean. The study was commissioned by ARDA-Caribbean, in conjunction with a $20,000 grant provided by the ARDA International Foundation, and was fielded by HVS Timeshare Consulting Services, a division of HVS International. Interval International, which has a global network of more than 1,900 resorts in 75 countries, was a major sponsor of this research. In other findings, the survey showed that the average number of units per resort in the region was 114 in 2000 and the estimated average sales price for a timeshare interval was around $ 8,900 per week/interval. Caribbean timeshare owners tend to be married couples (82%), between 45 and 54 years old (31%), highly educated (68%), empty nesters (40%) and have annual household incomes greater than $50,000 (98%), according to the survey. Nearly five in 10 Caribbean timeshare owners report annual household incomes in excess of $100,000, the survey indicated. Purchase motivations for Caribbean timeshare represent were also studied. While the concept of exchange is very important in the purchase decision to the majority of respondents, other leading factors include satisfaction with the resort’s units and amenities (80%), the assurance of a good value (72%) and the ability to save money on future accommodations (68%).