Showing posts with label aif. Show all posts
Showing posts with label aif. Show all posts

Timeshare Big Contributor to the U.S. Economy

8/17/2016 Unknown
Owners and industry professionals are aware of timeshare's benefits to the consumers, but timeshare also has a huge impact on both local and national economy. The recently released report, 2016 Economic Impact of the Timeshare Industry on the U.S. Economy, from ARDA International Foundation's (AIF), provides impressive figures on the actual size of timeshare's impact.

"It is not just the vacationers that benefit from the timeshare industry," said Howard Nusbaum, president and CEO of ARDA, in a recent press release. "This industry has a huge impact on local economies through jobs, spending by vacationers, and taxes."

Highlights

The report, conducted by Ernst & Young, illustrates that timeshare's influence on the U.S. economy goes far beyond timeshare resorts. It includes the sales and marketing offices, corporate operations, construction of new resorts and renovation of existing resorts. It has significant effects on vacationers’ expenditures during timeshare stays. Here are a few of the highlights of the report.
  • Economic Output
79.5 billion in consumer and business spending
16% increase over 2013
  • Employment 
511,782 full and part-time jobs
8% increase over 2013
  • Labor Income
$28.1 billion in salaries and wages
19% increase over 2013
  • Consumer Spending
$10 billion total spending by timeshare vacationers
$3.4 billion onsite, $6.6 billion off-site

Everyone in the timeshare industry has real reason to feel proud of these achievements. Not only does the industry provide millions of people a perfect vacation year after year, and many private sector benefits, it also provides substantial tax contributions that are a source of revenue for federal, state and local governments - $10.2 billion in 2015, a 21% increase over 2013.


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Youth and Diversity Top Influencers

7/27/2016 Unknown
It seems that for most industries, reaching youth and diversity demographics are at the top of their marketing efforts, and many think that millennials are the most important demographic influencers to reach. Even politicians consider it a primary concern - Ivanka Trump, a millennial woman herself, introduced her father at the convention last week.  Early in her speech, she emphasized that as a millennial, she doesn't follow the status quo, but votes her conscience.

Companies are eager to understand the traits of and quirks of millennials. Taco Bell recently incorporated a company feature at its headquarters called, "Millennial Word of the Week". The words are curated by a group of employees in their twenties. The purpose - to keep its employees up on the lingo of Millennials to better communicate with their young customers. 

Timeshare Reflects the Trend

Timeshare is no exception to the trend. Our industry is also reflecting a different age and diversity. The profile of the new owner has changed. Information from ARDA International Foundation's (AIF) newly released Shared Vacation Ownership Study shows that new owners are younger, have higher-incomes than current owners, and are more culturally diverse. Howard Nusbaum, president and CEO of ARDA, attributes the increase in timeshare sales (another positive in the study) to the new owners, "While existing owners continue to enjoy the lifestyle and purchase more timeshare, it's the new owners that are responsible for the majority of qualified sales".

What's changed?

  • Age: New owners are nearly 10 years younger than typical timeshare owners. Millennials actually give way to Gen X'ers here. Millennials, with a median age of 39 years, represent 30% of new owners. Gen X'ers represent 39% of new owners.
  • Ethnicity: Forty-two percent of new owners are African American or Hispanic. 
  • Education: New owners are highly educated. Seventy-two percent are college graduates and 23% of those have graduate degrees.
  • Income: The new owner has a median household income of $94,800 and disposable income to spare. Forty-seven percent made just a single payment to cover their purchase. Fifty-seven percent spent $10,000 or more on their timeshare.
  • Value: New owners are savvy consumers. They value long-term vacation savings and flexibility in timeshare. Thirty-six percent purchased timeshare to save on vacations and 31% bought for the flexibility timeshare offers. Seventy-five percent had some form of interaction with a timeshare resort before purchasing including staying as a guest at the resort where they bought or rented first. Before making a decision 35% attended multiple sales presentations.


Find more information at www.arda.org/foundation.

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State of the Industry: 6th Year of Growth!

7/20/2016 Unknown
The 2015 numbers are in and we are pleased to announce another great year of substantial growth in our industry! Here are some highlights from the 2016 State of the Timeshare Industry Study conducted by Ernst and Young for ARDA International Foundation (AIF).

Sales Volume $8.6 Billion

Sales volume rose by nine percent in 2015 from $7.9 billion in 2014 to $8.6 billion in 2015. That’s the second largest increase percentage-wise since the recession!

Timeshare Resorts in U.S. at High of 1,547

In 2015 there were 1,547 timeshare resorts in the U.S. representing about 200,720 units. The average resort size was 130 units. Occupancy rates were up to nearly 80 percent, a two percent increase.  In comparison, the hotel occupancy rate was only 66 percent. Vacationers are loving their timeshares!

Average Sales Price for Timeshare at $22,240

That's a nine percent increase over 2014. Howard Nusbaum, President and CEO of ARDA was thrilled with our industry's performance in 2015 and said in a recent press release, "Timeshare offers a flexible vacation experience anywhere in the world. And with over 70% of the properties being two or more bedrooms, families are enjoying the space for everyone to actually relax and the privacy for individual or group time while on vacation."

Interesting Facts Quiz

Here’s a quiz to test your knowledge of the industry and see if you know the answers to some of the other interesting findings from the study. Don’t look at the answers before you choose!
  1. What is the most common type of resort? 
  2. Which resort has the highest occupancy?
  3. What state has the most resorts?
  4. What state has both the highest average occupancy and highest maintenance fees?
  5. What region has the lowest average maintenance fees?
  6. What state has the largest resorts?

Answers to Quiz

  1. Beach Resorts
  2. Theme Park Resorts
  3. Florida
  4. Hawaii
  5. Northeast ($690 per interval)
  6. Nevada (230 units on average)

For even more information, see ARDA's State of the Industry infographic at www.arda.org/foundation.

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Everything to Love About ARDA World 2015!

4/15/2015 Unknown
The Marriott World Center's pristine course was the
perfect kick-off for ARDA World 2015!
No one has ever said the Timeshare Industry is boring, and this year's events at ARDA World continue to prove it definitely isn't! And, no one has ever said the industry wasn't charitable, which it is. The industry kicked off its premier annual event, ARDA World 2015, by exhibiting both attributes. 

Charity Poker Event

Track Results helped to start the conference off right by hosting the Second Annual Poker Night on Saturday at the Marriott World Center in Orlando. The event raised $50,000 for the benefit of Send Me on Vacation, an organization that provides women with breast cancer once-in-a-lifetime trips with their loved ones. For some women these trips provide a chance to rejuvenate after months of battling the illness, for others, it may be the last chance they have to travel with their families. The poker tournament is a way for ARDA World attendees to enjoy a night playing poker, blackjack, or roulette while raising money to send more women on these life-changing trips.

AIF Golf Tournament

The ARDA International Foundation (AIF) led the way on Sunday, with its 14th Annual AIF Open Golf Tournament. Participants had a challenging but enjoyable time on the beautifully landscaped course at the Marriott World Center's Hawk's Landing Golf Club. AIF is the entity of ARDA that fulfills the industry’s research and education needs, including identifying consistent and ongoing benchmarks, expanding research, analyzing technological changes and impacts, and enhancing the public’s knowledge of the timeshare industry. AIF relies on fundraising events like the golf tournament to produce research, studies and educational programs that advance the industry.

ARDA World Kick-Off Party

Following the golf tournament Sunday was the ARDA World 2015 Kick-Off Party. The event featured plenty of food, drink and even outdoor games. During the Kick-Off Party, ARDA-WIN Advantage, one of the sponsors of the event, presented its WINspiration Award to Lani Kane Hanan, EVP Marriott Vacations Worldwide. ARDA-WIN advantage is a women-centric group that focuses on networking, mentoring and diversity/inclusion within the vacation industry. The WINspiration Award is given to the member that has shown excellence in philanthropic service, leadership, and in contributions and support made to WIN. 

ARDA World continues until Friday with educational sessions, committee meetings, an Awards Gala Dinner and the closing Breakfast of Champions featuring two-time NHL Stanley Cup Champion, Bill Clement. More information can be found directly on ARDA's website!

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Who’s Buying Timeshares Now?

11/26/2014 Unknown
New timeshare buyers are a diverse group according to a recent Shared Vacation Ownership study from ARDA International Foundation (AIF). Younger and culturally diverse, these new buyers are fueling the timeshare industry's current growth mode of 7.9 percent up from 7.2 percent in 2012. 

What Defines the New Buyers?

Howard Nusbaum, president and CEO of ARDA says, "We're excited not only about the fact that sales are up in our industry, but also about why they are up. While existing owners continue to enjoy the lifestyle and purchase more timeshare, it's the new owners that are responsible for the majority of qualified new sales." Statistics from the Shared Vacation Ownership study show just who these new buyers are and the reasons they can qualify for a timeshare purchase.

They are younger and more diverse 

  • Almost 10 years younger than conventional owners - median age of 39
  • 42% are African American or Hispanic

They are highly educated, employed, have families, own homes 

  • 72% are college graduates
  • 79% are married or in a committed relationship 
  • 51% have children under age 18
  • 72% are employed full-time
  • $94,800 is median household income
  • 91% own a home

They do their research before they purchase

  • 75% had some form of experience with timeshare before purchasing
  • 35% attended multiple sales presentations
  • 44% vacationed at the resort before they bought
  • 42% experienced timeshare by renting first

They understand value

  • 36% bought their timeshare to save money on vacations
  • 31% bought a timeshare for the vacation flexibility it offers

More Good Signs

Other trends from the Shared Vacation Ownership study showed that the overall purchase price of a timeshare rose to an average of nearly $20,000. Timeshare owners are spreading their vacations evenly between summer, fall and spring, and 40% are as likely to travel under 500 miles as they are to travel 1000 miles or more. Though 75% of owners vacationed at a timeshare resort, the study showed 16% converted their timeshare to a different type of vacation-related purchase such as a cruise or airline ticket. 

Sources





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ARDA International Foundation Promotes Professional Growth for Success

11/05/2014 Unknown
ARDA kicks off its fall conference on November 12th in Washington, D.C. It;s sure to offer many opportunities for attendees to learn about key timeshare issues, set goals for the future and network with colleagues, but ARDA is not just about conferencing a few times a year.  ARDA International Foundation (AIF) offers a continuing source of education programs. What began in 1982 as a research tool to keep up with the rapid growth and change of the timeshare industry now has evolved into much more. AIF offers timeshare industry members multiple opportunities for professional growth.

AIF Education 

Timeshare professionals who are looking to gain expertise in a certain area of the industry need look no further than AIF's education programs. Through AIF, education participants can increase their industry knowledge, develop skills and earn professional designations including the Associate Resort Professional (ARP), Registered Resort Professional (RRP) and Certified Timeshare Supervisor (CTS).  

University Partnerships = More Industry Awareness

As a means of bringing new people into the timeshare industry, AIF partners with universities to provide resources to build course curricula, and internship programs to familiarize students with the industry. AIF's scholarship programs offer networking opportunities for both students and professors that help to bring them closer to the timeshare community on a personal level.

Suppliers also Benefit

Those supplying goods and services to the timeshare industry can earn AIF's Supplier Certification designation. It's a win-win situation. Suppliers become more knowledgeable of the industry, the characteristics of timeshare buyers, and trends and legal issues. Timeshare buyers gain savvy suppliers who know what the industry needs and can provide the best services.

Easy and Convenient Access to Learning

AIF offers easy and convenient access to professional development opportunities through its online learning platform.  Professionals may participate in self-study-courses, downloadable research, and webinar presentations accessible through computer or smart phone. Courses like Timeshare 101 teach the basics to industry newbies. Partnership Strategies helps timeshare professionals strengthen their customer skills with new ways to market and service the timeshare product.

Leadership Development

ARDA LEAPS is a program specifically designed to nurture and develop future ARDA leaders. The one year program requires nomination by an organization. As part of the selection process, nominated candidates must submit a 500 word document on why they should be in the program. After completion of the year long program, ARDA LEAP's candidates are encouraged to continue service to the industry such as mentoring new LEAP candidates, and participating on an ARDA committee.

Future of the Industry

As the timeshare industry continues to grow and evolve, it is important that those of us working in the industry continue to grow and evolve too. Professional development opportunities for industry professionals and education partnerships that develop awareness of our industry, help to keep the industry growing and thriving.


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