Report examines timeshare industry in the Caribbean region

Hotel & Motel Management, April 19, 2004

Eugene, Ore. -- Aruba, St. Maarten, the Dominican Republic and The Bahamas have the largest share of the timeshare market in the Caribbean based on the number of intervals owned by consumers, according to a study conducted by Ragatz Associates titled "ResortTimesharing in the Caribbean." Aruba and the Dominican Republic are the leaders in sales of new timeshares.

Ragatz Associates is the research division of RCI and a subsidiary of Cendant Corp.

Other findings include:

* As of October 2003, 214 Caribbean timeshare resorts serve more than 278,000 households, who own about 445,000 weeks or the equivalent in points.

* The Caribbean timeshare industry achieved almost $347 million in sales during 2002, representing about 29,000 weeks. Thirty percent of buyers were repeat buyers.

* The number of timeshare weeks owned by consumers jumped from 171,000 in 1993 to 445,000 in 2003.

* Caribbean timeshare owners report an 82-percent satisfaction rate, resulting in 90 percent usage of timeshares.

* Consumers paid an average of $12,000 per week of annual use, or the equivalent in points, for timeshares during 2002.

* Timeshare owners and other guests spend almost $635 million annually in Caribbean communities while on vacations.

hmm@advanstar.com