Vacation Ownership Industry Outlook Is Strong According to Latest RCI(R)
HOLLYWOOD, FL -- (Marketwired) -- 04/08/13 -- The future of the
vacation ownership industry looks bright based on findings announced
today by RCI, the global leader in vacation exchange and part of the
Wyndham Worldwide family of brands (NYSE: WYN). RCI released the
results of its annual membership profile survey, offering perspective
into the purchasing patterns, travel intentions, and key demographics
of U.S. owners. RCI also shared findings from another survey which
analyzed the perceptions and expectations of vacation ownership among
"As the world's largest vacation exchange network with nearly 3.7
million members, RCI has its finger on the pulse of today's owner and
is in a unique position to share valuable insights with the rest of
the industry," said Phil Brojan, senior vice president of marketing,
RCI. "Our latest research shows that consumers are happy with the
ownership experience, and the flexibility and choice they receive
through vacation exchange programs play a big part in that."
The 2013 RCI(R) Membership Profile Survey, conducted by marketing
analytics firm MineTech, Inc., polled a sampling of RCI subscribing
members in the United States through an opt-in online survey. Strong
ownership satisfaction, high household incomes, a desire for repeat
purchases, and a propensity for frequent travel were just a few of
the many reasons for optimism in the vacation ownership industry.
The findings from the RCI survey reinforce the positive outlook
presented in The American Resort Development Association's Shared
Vacation Ownership Owners Report released last fall. That study
showed that fewer owners feel their vacation plans are being impacted
by the economy and more owners intend to keep their vacation
ownership going forward. The study also showed that more owners are
taking vacation and fewer are cutting back on travel expenses.
Affinity for Vacation Ownership
According to the RCI survey, 83 percent of respondents are satisfied
with their current vacation ownership. Furthermore, 1.5 million
members (62 percent) report that they own two weeks or more of
vacation ownership per year.
A strong link between ownership satisfaction and future
ownership purchases was also revealed, with a significant portion of
members expressing interest in buying additional vacation ownership.
The Southeastern U.S. and the Caribbean were the most desired
Significant Buying Power
The typical owner not only has the intent to acquire more vacation
ownership, they also have the purchasing power. More than 1.2 million
consumers, nearly half of all U.S. RCI members, have an annual income
of $100,000 or greater, with over 500,000 of those members reporting
annual incomes of $150,000 or higher. The survey also reveals that 40
percent of respondents own real estate in addition to their primary
residence and vacation ownership.
Savvy and Frequent Travelers
The owners identified in RCI's member survey traveled away from home
nearly four weeks (24 nights) each year, far exceeding the vacation
time of the average U.S. traveler. Domestically, Florida remains the
vacation ownership capital with nearly two in three respondents
planning to visit in the next two years, followed by California and
Hawaii. Those planning international travel cited the Caribbean,
Europe and Mexico as their most likely vacation spots.
"With an average annual income of nearly $120,000, our members are
affluent travelers who have both the desire and the means to take
frequent vacations," added Brojan. "When you also factor in their
high satisfaction level and desire for additional purchases, it's
clear that resort developers have a great opportunity for growth
among existing owners."
The Value of Vacation Exchange
According to another study conducted by Chadwick Martin Bailey,
vacation exchange continues to be a critical piece of the vacation
ownership experience. Approximately three in four prospective
consumers indicated that an exchange company affiliation is an
important consideration during the purchasing decision. About the
same percentage of existing owners said that affiliation played a
vital factor as well.
Added flexibility and variety were among the most popular reasons
given for the importance of selecting a resort affiliated with an
exchange company. Both prospective consumers and current owners want
to have a wide selection of vacation options to choose from and to be
able to travel at different times throughout the year.
To receive a copy of RCI's white paper detailing key findings from
the 2013 RCI Membership Profile Survey, contact your RCI account
executive or send an email to RCI.Affiliates@rci.com.
RCI is the worldwide leader in vacation exchange with over
4,000 affiliated resorts in approximately 100 countries. RCI
pioneered the concept of vacation exchange in 1974, offering members
increased flexibility and versatility with their vacation ownership
experience. Today, through the RCI(R) Weeks program, the traditional
week-for-week exchange system, and the RCI Points(R) program, the
industry's first global points-based exchange system, RCI provides
flexible vacation options to its approximately 3.7 million RCI
subscribing members each year. RCI is part of Wyndham Exchange &
Rentals and the Wyndham Worldwide family of brands (NYSE: WYN). For
additional information visit our media center, rciaffiliates.com or
The RCI Blog. RCI also can be found on Facebook, YouTube and Twitter.
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