According to The European Timeshare Industry Report 2008, published by the Resort Development Organisation (RDO) and written by The Christel DeHaan Tourism and Travel Research Institute, University of Nottingham, UK, there were a total of 73,540 timeshare units in European resorts in 2007.
The European timeshare industry generated a total €957.3 million in sales revenues in 2007 across the 12 countries surveyed for this report. €789.5 million (83%) of the European sales total came from European residents, while €106.3 million (11%) represented timeshare purchases made at European resorts by visitors from the North American and Caribbean regions.
European timeshare owners spent a total of €3.2 billion on timeshare purchases, maintenance fees and spending during their holidays globally in 2007. Of this total, €2.6 billion (81%) was spent at resorts and destinations within Europe.
General characteristics of the timeshare industry in Europe
Economic impacts of the timeshare industry in Europe
Average Price of Timeshare Purchase
Survey respondents were asked what they had paid for their timeshares.
The average purchase price was found to be €11,000.
Owners from Germany and Belgium/Netherlands tended to pay more for their timeshares (average of €15,000) than any other nationality in Europe, while owners from Finland (€8,932), Hungary (€7,395) and Greece (€6,836) paid the least.
Timeshare Owners by Country
Topping the table is the UK and Ireland, having 589,53 timeshare owners.
Drivers to Sales Presentation
The majority of owners surveyed, purchased timeshare at the resorts (59%), while under a quarter (22%) of European timeshare owners purchased their timeshare at a sales centre or office. In Italy, it was more common for sales to take place in the owners’ actual homes.
As much as 26.5% of European timeshare owners that agreed to attend a sales presentation were approached by a sales person on the street in the resort area or at a booth. Direct mails sent to home or business addresses encouraged 14.7% of respondents to attend a presentation. A telephone call to home or business drove 12.9% of respondents to attend a sales presentation.
European Timeshare Owners' Profile
Timeshare owner satisfaction levels are high with 86.6% of respondents reporting they were ‘satisfied’, of which over half said they were ‘very satisfied’ with their ownership.
Methodology: Based on responses from 33,098 timeshare owners across 12 countries being mailed directly by RDO, plus almost 400,000 survey questionnaires sent out to owners via developers and exchange organizations eliciting an 8% response rate.