TODAY’S U.S. LEISURE TRAVELERS SIGIFICANTLY MORE FAMILIAR WITH TIMESHARING AND ITS MAIN FEATURES
Miami, FL, October 5, 2007 – Interval International, a leading provider of vacation services and an operating business of IAC (Nasdaq:IACI), recently released its Future Timeshare Buyers: Market Profile 2007 that revealed significant growth in familiarity with the concept of timesharing among U.S. leisure travelers since the study was first conducted in 1999. In fact, 91 percent of these travelers indicated awareness of timesharing today in comparison with 68 percent seven years ago.
“Consumer awareness of timesharing has grown at a remarkable rate since 2000, driven by the aggressive development of timeshare resorts and more extensive media coverage of the benefits of ownership,” said Peter C. Yesawich, chairman and chief executive officer of Ypartnership, co-author of the annual survey with Yankelovich, Inc.
The annual study, developed exclusively for Interval International, is prepared from data collected for the YPB&R/Yankelovich, Inc. 2007 National Leisure Travel MONITORSM, a closely watched annual survey of the travel habits, preferences, and intentions of Americans that offers resort developers and marketers unique insights into the emerging lifestyles and travel trends of Americans who are interested in owning vacation time. The results were announced at the 9th annual Vacation Ownership Investment Conference held in Orlando, Florida.
According to the study, leisure travelers interested in purchasing vacation time have a strong commitment to their values, personal needs, and lifestyles. This commitment is evident in their demand for personalization and customization. They also are known for seeking originality, trying new products ahead of other people and are more likely to associate having a balance between work and personal life with success and accomplishment.
“Leisure travelers are actively seeking new opportunities to re-connect with family, by combining new and engaging experiences with the comforts and spaciousness of home. Today’s resort timeshare product – and the breadth of vacation experiences and destinations it offers – satisfies their travel and holiday demands, while simultaneously adding to their own personal image of success and self worth,” noted Howard A. Bendell, director of market research and analysis for Interval International.
Another impressive finding: growing 57 percent from the number of respondents who reported familiarity with the concept of timesharing eight years ago, nearly six in 10 U.S. pleasure travelers now consider themselves to be knowledgeable about the main features of timesharing. What’s more, these travelers are very interested in attending a timeshare presentation or taking a two- to three-day mini-vacation that includes a sales presentation (76 percent), and are more likely to stay at a vacation ownership resort (62%).
The typical U.S. leisure traveler interested in purchasing vacation time is white (79 percent), married (63 percent) and has an annual household income of $50,000 or more (66 percent). Nearly four in 10 have completed four years of college education (39 percent), are part of the Baby Boomer generation (36 percent between 42 to 60 years of age) and have white-collar professional occupations (36 percent). Generation Xers (28 to 41 years old) represent a market of emerging potential purchasers for developers because of their increasing interest in vacation time.
Among the future leisure travel patterns and preferences measured, the study found that nearly all leisure travelers who are interested in purchasing vacation time are planning to take one or more leisure trips during the next 12 months. Weekend trips remain the most popular. Nearly two-thirds of prospective timeshare buyers intend to take a cruise during the next two years. Also, their preferred vacation destinations are Florida (34 percent), Hawaii (29 percent), and California (27 percent). Europe (58 percent) remains the preferred international destination of choice among leisure travelers interested in purchasing timeshare, followed by Australia (23 percent) and the Caribbean (16 percent).
“The results of the 2007 survey reveal, once again, that timesharing has gone mainstream among U.S. leisure travelers, and this evolving consumer sentiment augers well for the continued growth of the industry,” concluded Yesawich.
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.
