Californians dominate Hawaiian timeshare market -- Owners report 85% satisfaction rating.WASHINGTON--(BUSINESS WIRE)--Feb. 12, 1997--Californians dominate the Hawaiian timeshare A form of shared property ownership, commonly in vacation or recreation condominium property, in which rights vest in several owners to use property for a specified period each year. market, representing 52 percent of owners on the islands, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study released by the American Resort Development Association The American Resort Development Association ("ARDA") is a professional association representing the USA vacation ownership and resort development industry, also referred to as the timeshare industry. (ARDA Noun 1. ARDA - an agency of the Intelligence Community that conducts advanced research and development related to information technology Advanced Research and Development Activity ). Over 85 percent of the 1,475 timeshare owners surveyed reported being very or somewhat satisfied with their purchase, reflecting an increase of nearly eight percentage points since a 1992 study. The study reported, "Hawaii timeshare owners represent the cream of the visitor industry." The average household income for Hawaii's timeshare owners is $76,000. Newer timeshare owners -- those who have purchased intervals in 1995 or 1996 -- have average household incomes of $87,000. The average age of Hawaii timeshare owners is 53 years. Hawaii timeshare owners tend to be well-educated, with nearly 63 percent having some type of college degree. Of new owners purchasing in 1995 or 1996, 35.5 percent hold graduate degrees. According to the study, "newer owners are increasingly more educated due to the socio-economic markets attracted by the branded-timeshare companies and higher quality independent projects." Marriott, Embassy Suites, Disney, Hilton, Hyatt, and Four Seasons have opened or are investigating projects in Hawaii. "As the industry has matured, so has the demographic of our owners," noted ARDA President Thomas C. Franks. "With improving products and refined delivery, the industry is successfully meeting the high demands of these sophisticated, affluent consumers and attracting quality travelers to Hawaii." Southern Californians represent 30 percent of Hawaii's timeshare owners, and Northern Californians 22 percent. Of these owners, the study exhibited a preference for the island of Maui, with 59 percent of its owners hailing from California. Timeshare sales in Hawaii jumped 41 percent in 1995 to $108.4 million, with earnings projected to surpass $200 million in 1996. In 1995, 9,850 timeshare intervals were sold at an average price of $11,000. In June 1996, year-to-date sales were reported at $102 million with interval prices averaging $14,400. The study credits the Hawaiian timeshare industry with attracting 292,000 visitors annually, and consumer expenditures totaling $370 million. Timeshare parties spend approximately $2,380 per trip. The average party size of timeshare vacationers in Hawaii is 3.4; the average stay is 11.6 days. "Hawaii's Timeshare Industry: An Industry Overview and Economic Impact Analysis," was conducted by KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Peat Marwick LLP LLP - Lower Layer Protocol . ARDA serves more than 850 member companies representing more than 4,000 resorts and is based in Washington, D.C. CONTACT: ARDA Chris Larsen Chris Larsen is the chairman and founder of E-loan and the co-founder of Prosper.com. Larsen received a B.S. degree from San Francisco State University and a M.B.A. from Stanford University. In 1996 Larsen founded the Palo Alto Funding Group which later became E-Loan in 1996. , 202/371-6700 or YUI YUI Yahoo! User Interface +COMPANY Ellen Yui, 301/585-0298 |
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