Timeshare Sales Rocket Upward
Last year was another fantastic one for the timeshare business, as sales in the U.S. climbed a whopping 21.4 percent to $7.87 billion. A study conducted by American Economic Group on behalf of the ARDA International Foundation also showed increases in the number of new owners, new resorts and units.
As of January 1, there were 1,668 vacation ownership resorts in the U.S., up 78 properties over the two previous years. The number of owners jumped by 16.2 percent to 3.87 million.
According to the study, there are 157,518 timeshare units, 70 percent of which have two bedrooms. During 2005, 18,561 units will come on line, and another 31,000 units are in the development pipeline.
The top 10 timeshare states account for 65 percent of all properties. Florida leads the way with 378 resorts (23 percent of the total), followed by South Carolina, California, Hawaii and Colorado. The average price in 2004 for a timeshare interval or points equivalent was $15,789.
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