INTERVAL INTERNATIONAL IDENTIFIES KEY CHARACTERISTICS AND TRAVEL PATTERNS OF U.S. MEMBERS
Miami, FL, April 2, 2007- Interval International, a leading global vacation exchange company and operating business of IAC (Nasdaq: IACI), today released the findings of its 2006 U.S. Membership Profile. The research, conducted in the fourth quarter of 2006 by Simmons, an Experian Company, confirms that Interval’s U.S. timeshare-owning members are avid leisure travelers who plan their vacations well in advance and seek out a wide range of activities at those destinations. The new report, which expands upon previous research conducted in 2003, reveals in-depth information about the travel habits, preferences, and demographic characteristics of Interval’s members.
These vacation owners are more upscale than the general population in key demographic indicators, including income and home ownership. The average U.S. resident member is approximately 50-years-old, married, and lives in a household with three people. When compared with the general U.S. adult population, Interval’s members are nearly one-and-one-half times more likely to be married, and almost 1.6 times as likely to fall into the 45- to 64-year-old age group.
Approximately 45 percent own more than one vacation week, as 28 percent report owning two vacation weeks, and 17 percent owning three weeks or more. Approval among Interval’s U.S. membership remains high, as nearly nine out of 10 members indicate they are satisfied with their timeshare purchase. In addition, nearly one-third indicate that they are somewhat or very likely to consider the purchase of additional vacation time in the future.
“The findings of this research clearly underscore the importance of vacation time among our members, reinforces their high levels of satisfaction, and the value proposition associated with owning multiple weeks,” said Howard Bendell, director of market research and analysis for Interval International.
Interval Members Enjoy Vacationing and Plan Ahead
In 2006, Interval’s U.S. members spent approximately 35 nights away from home traveling solely for leisure purposes, and spent on average, 12 nights in timeshare accommodations and 12 nights in a hotel or motel. In addition, about 23 percent of Interval’s U.S. members report extending their timeshare or exchange vacations. Those who extend their timeshare or exchange vacations add, on average, approximately four-and-one-half additional nights to their trip.
A significant portion of Interval’s U.S. membership plans their activities before the vacation begins. The Internet is the most heavily used source to research vacation activities and information, cited by fully three-quarters of Interval U.S. members. Travel-related guidebooks, such as Fodors, AAA, and Mobil, are utilized by more than half, while other travel-related publications are relied upon by approximately one-third.
Where They Want to Visit and What They Want To Do
Nearly 95 percent of U.S. timeshare owners intend to take a leisure domestic trip of more than 100 miles away from home during the next two years and fully three-quarters expect to travel internationally. Florida continues to be the most frequently cited domestic locale for leisure vacations among Interval’s U.S. members. California, Hawaii, Arizona, and New York round out the top five preferred states members plan to visit within the next two years. With regard to future international leisure travel, two-thirds of Interval’s U.S. members report a desire to visit the Caribbean, while more than 40 percent wish to visit Europe. About one-quarter intend to vacation in Mexico.
Interval’s U.S. membership remains an extraordinarily active group and enjoys a wide array of vacation activities while traveling for leisure purposes. Activities most frequently cited include shopping, sightseeing, swimming, attending plays and concerts, spa services, and working out in health facilities.
Cruising on the High Seas and the Highways
Interval’s U.S. members are approximately three times more likely than the typical U.S. adult to have taken a cruise vacation in the past three years, with the average member having taken an estimated two cruises over that span. Slightly more than 10 percent of Interval’s U.S. members took a three- or four-night cruise, 23 percent took a cruise of seven nights, and about seven percent took a cruise vacation of 10 nights or more. Of those who have cruised in the past, nearly half of Interval U.S. members intend to take a cruise vacation in the future. They also are nearly three-and-one-quarter times more likely than the typical U.S. adult to rent a car, as nearly 67 percent did so in the past year. Nearly 60 percent rented an automobile solely for leisure purposes, which is a rate nearly four times greater than the general U.S. adult population.
“Leisure travel among Americans is a highly valued component of family living and Interval’s U.S. members are no exception,” said Bendell. “Understanding their travel habits, attitudes, and preferences creates competitive advantage for resort developers as they strategize their future sales and marketing initiatives.”
About Interval International
For more than 30 years, Interval International has led the vacation ownership industry with its commitment to providing quality exchange services and other value-added programs to its vacation-owning members and resort developers worldwide. Based in Miami, Florida, Interval has a network of more than 2,200 resorts in 79 countries and serves its clients and nearly 1.9 million members through 28 offices in 19 countries. Interval is part of IAC, which operates leading and diversified businesses in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, Citysearch, Entertainment Publications, HSN, LendingTree, and Ticketmaster.
