INTERVAL INTERNATIONAL PROFILES TIMESHARE OWNERS
Research Validates High Product Satisfaction Among Current Owners
Miami, FL, May 6, 2004 - Interval International, a leading global vacation exchange company, today released the findings of its2003 U.S. Membership Profile. The study, conducted in the fourth quarter of 2003 by Simmons, an Experian Company Bureau Inc., provides in-depth information on timeshare owners' demographic characteristics, travel habits, activities, and intentions, as well as lifestyle purchasing behavior and use of selected consumer products and services. The new report updates and expands upon previous research commissioned in 1997, 1999, and 2001.
The 2003 U.S. Membership Profile , which compares respondents with Simmons' benchmark National Consumer Study,shows vacation owners to be more upscale than the general U.S. adult population in key demographic indicators: income, occupation, educational level, and home ownership. The study also revealed a high level of product satisfaction among present owners, as evidenced by actual and intended multiple-week ownership.
"This benchmark study synthesizes the most relevant trends among today's timeshare-owning consumers and helps both new and experienced timeshare developers create more insightful sales and marketing strategies," said Ann McMaster , assistant vice president of Consumer Marketing for Interval International.
Vacation Owners: Key Demographic Indicators
According to the study, which is representative of Interval's U.S. membership base at a 95 percent confidence level, the average Interval member is approximately 49 years old, married (84 percent), and lives in a household with about three people (although the largest percentage of members - 46 percent - live in two-person households.)
The $114,200 average household income reported by Interval's members is nearly double that of the typical U.S. adult. While 43 percent of Interval's members fall into the $50,000 - $100,000 household income range, more than 40 percent report levels in excess of $100,000. Further, the proportion of U.S. resident members earning annual household incomes over $250,000 is a level more than three times greater than the general population.
The largest share of Interval members (45 percent) categorizes their occupation as professional or managerial in nature. Thirteen percent stated they were self-employed, and 21 percent of respondents are retired.
Home Ownership Values and Patterns
Interval members typically own their primary residence (nearly 95 percent), with private home ownership 40 percent more likely than that of the average U.S. adult.
Members' average home value has grown almost $50,000 since 2001, reaching approximately $292,000 - a value 63 percent greater than the U.S. mean value. Interval members are almost six times more likely to own a home with a current market value in excess of $500,000. Additionally, nearly three in 10 of Interval's U.S. members own a second home (not including their timeshare.)
Satisfied With Timeshare Industry
Satisfaction ratings reflect favorably on the industry: almost 90 percent of Interval members indicate they are satisfied with their timeshare purchase. In fact, 62 percent stated that they were "very" or "extremely" satisfied with their vacation ownership interest.
In addition to the high levels of satisfaction reported by this group, about 45 percent presently own more than one vacation week. Furthermore, fully one-third is likely to purchase additional vacation time in the future.
"With nearly nine in 10 respondents reporting that they are satisfied with their purchase, the value proposition associated with timeshare resort ownership speaks for itself," said McMaster.
About Interval International
Since 1976, Interval International has led the vacation ownership industry with innovative products and the highest levels of quality, service, and value complemented by a global network of more than 2,000 resorts in 75 countries. With its headquarters located in Miami, Florida, Interval employs nearly 1,700 people worldwide and serves its developer clients and over 1.6 million member families through 26 offices in 17 countries. Interval provides its members - timeshare owners from around the world - with a variety of exchange services and year-round travel related benefits to enhance their vacation experiences. Interval International is an operating business of IAC.
U.S. Members At A Glance:
Average age: 49 years old
Average household income: $114,200
More than 50% have earned at least a college degree
Household size: approximately three people
Average home value: $292,000
Nearly 90% are satisfied with timeshare purchase
Nearly 30% own second homes (excluding timeshare)
45% own more than one vacation week
