Young Adults, Singles Become More Interested In Vacation Ownership

ORLANDO—Young adults and singles are becoming more interested in buying timeshare properties according to the latest study by Interval International. The new report, Future Timeshare Buyers: 2002 Market Profile, profiles prospective vacation-owning consumers and their leisure travel preferences, as well as emerging social trends impacting current consumer-purchasing behavior. The study was developed from data collected in The Yesawich, Pepperdine & Brown/Yankelovich Partners 2002 National Leisure Travel Monitor and focuses on the 16 percent of U.S. leisure travelers who indicate interest in purchasing some form of timeshare during the next two years. The majority of prospective purchasers as identified in the report are female (54 percent), white (77 percent), married (56 percent), age 37 or older (57 percent), and report annual household incomes of $50,000 or more (63 percent). However, one of the fastest-growing demographic groups expressing interest in the timeshare product is 23- to 36-year-olds. Additionally, singles represent another emerging demographic group. In addition, the report identified three social trends that are impacting today’s consumers: the “Affluent Attitude,” a renewed emphasis on personal relationships, and marketplace clutter. Prospective purchasers are significantly more likely to embrace the “Affluent Attitude,” a growing sense of entitlement to luxury touches and also to associate material objects and status with success and accomplishment, according to the study. At the same time, Americans in general are seeking less stress, more spirituality, and a heightened focus on family and friends. Prospective timeshare buyers place a high value on their vacation time with nearly four in 10 expressing a preference for an increase in vacation time over an increase in pay. Spending time with family and friends tops their list of leisure time activities. More grandparents are traveling with children, and as a result, prospective purchasers are significantly more likely to plan vacations with children. Meanwhile, friends are named as the traveling companion of choice, cited by 65 percent of prospective owners, compared to 53 percent who are interested in traveling with children who reside in their home. They are also more interested in traveling with extended family than leisure travelers in general. Prospective purchasers of vacation time, on average, travel with 2.6 adults (including themselves) and 2.2 children.