Interest in timeshare ownership on the upswing
May 9, 2007
Filed under Timeshare News
May 7, 2007
By: Christine Blank
Hotel & Motel Management
ORLANDO—The news about timeshare keeps getting better.
Not only is it a profitable industry, but consumers are more interested in owning timeshare properties than before, according to new research released at the American Resort Development Assn.’s 2007 Conference & Expo, held here in March.
The U.S. timeshare industry contributed an estimated $92 billion to the country’s economy in 2005, according to PricewaterhouseCoopers’ latest research. Timeshare owners took about 5.7 million timeshare vacations in 2005, contributing $410 billion in local spending.
“The economic benefits the timeshare industry conveys to communities surrounding resorts and the nation as a whole are documented and substantial,” said Rip Gellein, ARDA chairman and president, global development group, Starwood Hotels & Resorts Worldwide.
In addition, the industry achieved significant growth of 24 percent over the past three years in salaries, wages and related income for its employees, and timeshare employment increased 11.5 percent from 2002 to 2005. [more]
