Timeshare Users Group Advice - RCI Industry Facts and Figures 2 - Resort timeshare industry in the Caribbean

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Your Location: Timeshare Users Group Advice: RCI Industry Facts & Figures - Caribbean Timeshare Industry |updated: 1/29/08

THE RESORT TIMESHARE INDUSTRY IN THE CARIBBEAN: 1998

Resort timesharing has existed in the Caribbean since the 1970s. During the past few years, it has been one of the fastest-growing vacation and real estate industries in the region.

Characteristics of timeshare properties

There are 128 timeshare projects in the Caribbean on five islands. These projects contain 8,150 built timeshare units with an average of 64 units per project. Thirty-four projects contain fewer than 25 units (26.5 percent) while 21 (16.4 percent) contain more than 100. The percentages of timeshare units are located on the following islands:

Aruba with 30.4 percent
St. Maarten with 18.3 percent
Dominican Republic with 13.3 percent
Bahamas with 11.3 percent
U.S. Virgin Islands with 6.1 percent

The average annual maintenance fee is $379 per interval, and the average current interval price is $9,881. About 26.7 percent of the units contain two or more bedrooms, 41.3 percent contain one bedroom, and 32 percent are either hotel rooms or studio units.

Owner Characteristics

Residents of the United States account for about 75 percent of all timeshare purchasers in the Caribbean. Nearly one-third (33.1 percent) of all purchasers reside in four states¾ New York, New Jersey, Massachusetts and Florida. Europeans account for 11.7 percent and Canadians for 5.7 percent of all purchasers.

Demographics

85.7 percent represent married households

68.2 percent have no children living at home

The average age of the head of household is 52 years old

Median household income is about $88,765

Satisfaction Ratings

80 percent are either satisfied or very satisfied

81.5 percent say their purchase has either matched or exceeded their expectations

73.3 percent say that timesharing has had a positive impact on their lives

62.1 percent say that timeshare ownership has saved them money on vacations

Timesharing and the economy

The timeshare industry contributes significantly to the region’s economy. During the next 10 years, the average timeshare owner expects to return to the Caribbean 7.5 times. This average would have been only 3.9 times if not owning timesharing in the region. In 1998, the year-round occupancy rate in resort timeshare projects in the Caribbean was 83.3 percent compared to about 66.7 percent (1997) in the hotel industry.

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Homepage updated Jan 29, 2008 by B. Rogers - Send email regarding this page to tug@tug2.net