MIAMI? As part of Interval International?s vacation ownership benchmark study, VO2000, consumer awareness of exchange privileges and desired resort attributes were explored. The study revealed that while the majority of consumers know about exchanges, their understanding of exchange fundamentals remains unclear. When asked if consumers knew about exchange privileges, 76% of respondents answered yes, while 24% said no. A smaller percentage of consumers understood exchange options at other resorts, according to the survey. A large marketing effort is underway at ARDA, the American Resort Development Association, to educate consumers on timeshare flexibility. During the recent ARDA conference, several seminars were dedicated to the concept. In addition, ARDA has created new marketing programs that address exchange options. About one-fourth of respondents, 27%, understood the concept of exchanging weeks/time with someone else at another resort. However, less than one quarter, 22%, understood the concept of exchanging timeshare locations. According to the survey, 13% of respondents had a full understanding of exchanging time and resort and 11% understood that they could trade with other people. Eight percent said they understood the concept of exchanging time and resort for a fee and 5% were aware of exchanging time and resorts of the same value. The currency of timeshare exchange privileges and ?banking? of points, etc. was not as clear for potential timeshare owners. About 2% understood the points system/timeshare with points, banking weeks/time, and trading by color, according to the survey. When it came to the kinds of attributes liked most about timeshare resort accommodations by consumers, the majority responded features/amenities, 53%. This would account for the addition of many new amenities to timeshare resorts such as spa facilities and pools/waterparks, as well as their proximity to attractions such as the Las Vegas strip, mountain skiing or the beach. The next most desirable attributes were features like home, 39%, and activities, 14%. Controlled costs related to a timeshare vacation was attractive to 8%, while locations offered by timeshare resort accommodations appealed to 7%. In many instances, location is the key factor in the decision to invest in vacation ownership. Summer is the prevailing season of choice for timeshare vacation excursions. This could be due to the preponderance of families with children that have summer vacation since most respondents include their children on these types of vacations. More than one-third of respondents, 38%, said that summer is of greatest interest to them to own a timeshare. Winter followed, with 23% of respondents selecting that season for a vacation ownership vacation. Fall was of interest to 22% of potential timeshare owners, while spring was of interest to 17%.
