More Positive Tourism Numbers Are Good For The Timeshare Industry April 28, 2011
Posted by John Stephens in : General , add a commentA couple of items came across my desk this week that should mean good news for the timeshare industry as tourism numbers continue to improve in the U.S.
According to the Orlando Sentinel, March hotel occupancy rates in the Land of the Mouse stood at just over 80%, which is the first time Orlando hoteliers have seen the mark hit 80% since March 2008. Three years is a near eternity in the hotel world, so this is very good news for that market. And, since Orlando is the timeshare capital of the country, more people visiting Orlando should mean more people flowing on to visit (and tour) Orlando timeshares.
The 80% rate is about 10% up over March of 2010, but hotel room prices have not kept pace with the increase and are still below previous highs. The average room rate of $103 per night is slightly up from last year but still below the $120 a night hotels were getting in 2008.
Timeshare developers need to take note of this since people are far more cost-conscious than ever before and are just not prepared to pay the kind of prices that they were a few years back. The developer prices for “new” timeshare averages around $20,000 per week and has held up during the recession as hotels slashed rates. However, the high cost of a timeshare is a major reason why people come to websites such as BuyaTimeshare.com looking for inventory.
But you already knew that.
The other item came from credit card company Visa, who released a report stating that their cardholders spent more money on international trips, both inbound to and outbound from the U.S., during 2010. International cardholders traveling to the U.S. increased spending by 18 percent, from $29 billion to more than $34 billion, and spending by U.S. Visa cardholders traveling internationally increased by six percent, from $29 billion in 2009 to $31 billion in 2010.
Of the international visitors to the U.S., Canadians led the way ($9.2 billion) followed by the United Kingdom ($2.5 billion) and Mexico ($2.0 billion). However, from a percentage increase standpoint, the largest increases came from China (64% increase) followed by Brazil (63%) and Australia (32%).
That should make the timeshare exchange companies happy.
It’s great to see people traveling again and, especially, spending money while on their trips. Maybe the days of the staycation have finally given way to a return to vacations once again.
You may not realize it, but timeshare rentals are a great way to take a vacation and stay in much better and larger accommodation compared to a hotel. Timeshares offer one and two-bedroom accommodation with full kitchens for less than the cost of most brand hotels. Take a look in our website by searching for a destination and the type of rentals available and you’ll be surprised what you can get for your money. Try it by clicking here.