Millennials Are Buying A Lifetime Of Vacations For Less Than The Cost Of A Peppermint Mocha Per Day
New survey from Wyndham Destinations reveals Americans' travel habits and what they really want out of their vacations
ORLANDO, Fla., Nov. 28, 2018 /PRNewswire/ -- According to a new survey of 1,000 Americans from Wyndham Destinations, the world's largest vacation ownership and exchange company, almost half of Americans believe they'll spend more than $80,000 on vacations during their lifetime. Fortunately, there's a better way to vacay, and one that Millennials are raving about: timeshare ownership.
More than half of Americans reported having stayed in a timeshare while traveling on vacation, and 80% say that they enjoyed the experience. Millennials are taking notice, too – of the 55% who said they have vacationed in a timeshare, a whopping 73% enjoyed the experience and one in four liked it so much they would consider buying one. Why? Timeshares provide the ultimate vacation experience – comfort, style and plenty of options. In addition to resort-style amenities, vacationers can book a suite with multiple bedrooms, full kitchens and living rooms, and even in-unit laundry. Hotel rooms not leaving much opportunity for any—ahem—sexy time during vacation? Nearly 1 in 3 respondents said that lack of privacy for 'sexy time' makes their leisure travel less enjoyable.
Wyndham Destinations' survey also helps dispel antiquated timeshare myths, such as timeshares are cost-prohibitive. The actual cost to buy a timeshare that allows owners to vacation for a lifetime can be less than the cost of one peppermint mocha coffee per day*. Another myth: timeshare owners can only vacation in one location during one week out of the year. This old school idea is long gone, and for good reason – 42% of survey respondents prefer to vacation in a new destination. Wyndham Destinations provides flexibility for travelers to embrace their wanderlust with 220 club resorts, 4,300 affiliated resort partners in 110 countries and 10,000 professionally managed vacation rental properties across North America.
Social sharing also leads the list of travel trends influencing destination decision making. More than 1 in 5 (22%) people say they would actually consider purchasing a vacation home based on its Insta-worthiness—whether the property would look great in photos on their social media channels. But a vacation home limits snaps to one location. A better way to secure a lifetime of IG-worthy vacation moments in resort destinations across the globe? Buy a timeshare.
Here are additional stats that uncover what Americans want from their vacations:
- 50 Shades of Vacay: According to the U.S. Travel Association, 63% of couples say that getaways are more likely to spark romance than a gift. A whole family crammed into one hotel room can throw a cold blanket on vacation sex. Nearly a third (32%) of Americans said that lack of privacy for 'sexy time' makes their leisure travel less enjoyable.
- So the answer for more sex and a more enjoyable vacation? Timeshares. According to ARDA, 71% of timeshare owners claim to have more sex with their partner while on vacation (versus 31 percent of non-owners).
Experience-Junkie Millennials Discover Value of Timeshares: More than half (55%) of Millennials have vacationed in a timeshare; three quarters (73%) revealed they liked it, so much so that nearly a quarter (24%) said they'd consider buying one! What's more, 60% of Wyndham Destinations' new owners are millennials and GenXers.
Vacation for a Lifetime for Less Than a Peppermint Mocha a Day: It's a myth that timeshare ownership is cost-prohibitive. Nearly half (48%) of Americans believe they will spend $80,000+ on vacations over the course of their lifetime. The truth is, the cost to buy a timeshare*, and a lifetime of vacations, can be as low as one peppermint mocha coffee beverage a day.
- Now is the Time to Share More Time: More than half (56%) of Americans have stayed in a timeshare while traveling on vacation; nearly 80% report that they enjoyed the experience.
- One in four respondents intend to purchase a timeshare within the next three years.
Wanderlust Leads the List: Forty-two percent of survey respondents give in to their wanderlust, preferring to vacation in a new destination. More than 1 in 3 (34%) say they most often take a vacation in a city they can explore compared with 24% who seek outdoor adventures like skiing.
One Size Does Fit All: Solo travel is still trending among the younger demographic. While three quarters of Baby Boomers (72%) say they most often travel with a spouse, only 55% of Gen Xers and 50% of Millennials bring along their SO. Whether you're ridin' solo or with your squad, the space, amenities, and service that timeshare offer fits all.
Creature Comforts: Americans tend to like some comfort when they travel like spacious accommodations, consistent service and brand names - alas, all the things that timeshares offer! In fact, the number one thing (34%) consumers say make their vacation less enjoyable is a lack of amenities like laundry, a fitness room or pool.
- All in the Fam: Nearly half (43%) of Americans travel as a family (e.g., parents and kids) and 13% as an extended family. When vacationers travel with more than one person they typically (42%) book a house so everyone can stay together.
ABOUT WYNDHAM DESTINATIONS
Wyndham Destinations (NYSE: WYND) believes in putting the world on vacation. As the world's largest vacation ownership and exchange company, Wyndham Destinations offers everyday travelers the opportunity to own, exchange or rent their vacation experience while enjoying the quality, flexibility and value that Wyndham delivers.
The company's global presence in 110 countries means more vacation choices for its four million members and owner families, with 220 resorts that offer a contemporary take on the timeshare model – including vacation club brands CLUB WYNDHAM®, WorldMark® by Wyndham, and Margaritaville Vacation Club®by Wyndham – 4,300+ affiliated resorts through RCI, the world's leader in vacation exchange, and 10,000 rental properties from coast to coast through Wyndham Vacation Rentals, North America's largest professionally managed vacation rental business. Year after year, a worldwide team of 25,000 associates delivers exceptional vacation experiences to families around the globe as they make memories to last a lifetime. At Wyndham Destinations, our world is your destination. Learn more at wyndhamdestinations.com.
*The average cost of a Wyndham timeshare is $21,000, plus annual maintenance fees from $725 over the course of 40 years, which is equivalent to $3.40 each day. Financing costs and loan length are not considered.
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SOURCE Wyndham Destinations
Released November 28, 2018