During the economic crash of 2008, the timeshare market faced significant challenges, with sales being hit especially hard, plummeting to below $6 billion. However, in the years that followed, timeshares saw steady growth, with post-pandemic figures reaching 10.5bn.
Despite the 2008 crash and the Covid-19 pandemic, the timeshare industry has shown remarkable resilience. According to the American Resort Development Association (ARDA), the 2022 U.S. timeshare industry consisted of 1,541 timeshare resorts with approximately 201,600 timeshare units, sold in parts or ownership pieces, typically either as weekly intervals or points-based systems.
In 2022, sales volume increased by 30% to $10.5 billion, fully recovering to pre-pandemic levels. Average occupancy rates rose to 77.6%, significantly higher than hotel occupancy rates of 62.1% in the same year.
Since 2013, Timeshare Specialists has helped owners navigate the increasingly complex resale market, offering a range of services, including a Guaranteed Transfer Program, free advice, and the nation’s first Scam Hotline to report timeshare scams.
As we look back on the history of timeshares, it’s clear that the industry has faced significant challenges, some of its own doing, some not, but has always managed to adapt and thrive. The future of timeshares looks promising, with demographics and market trends continuing to favor growth.
The timeshare model continues to evolve; tomorrow’s industry is sure to have the right vacation options for those interested in unparalleled vacation experiences.
For free advice call Timeshare Specialists at 800-969-6565. You can also stay up to date on the timeshare industry and resale trends by following our Facebook Page.
The timeshare industry experienced a temporary downturn during the Covid-19 pandemic but quickly bounced back. By 2022, sales increased by 30%, signaling a strong recovery.
As of 2022, the timeshare industry in the U.S. consists of 1,541 resorts, 201,600 timeshare units, and achieved a sales volume of $10.5 billion, with occupancy rates of 77.6%.
The future of timeshares looks promising, with favorable market trends and demographics, suggesting continued growth for the industry.
The timeshare model continues to evolve, offering new vacation options for individuals seeking unique vacation experiences, with the industry expected to adapt and thrive.
When it comes to vacation property ownership, timeshares and fractional ownership are popular choices, but they cater to different needs and budgets. Check out the pros and cons of each to find out if a timeshare, fractional ownership, or hybrid option is the right fit for you.
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