Miami, Fla., March 23, 2000 -- A recent in-depth study by Simmons Market Research Bureau, Inc., of Interval International's
U.S. consumer-membership base highlights several current industry trends, including a rising level of affluence
among timeshare owners and the inclusion of a wide range of lifestyles and life stages among the ranks of U.S.
timeshare owners.
Conducted in the fall of 1999, the national study updates the results of similar research undertaken by Simmons
in 1997. The new study also provides comparisons of the demographic characteristics and product-use behavior of
Interval's membership base with those of the total U.S. adult population, based upon data gathered in Simmons'
Spring 1998 National Consumer Survey.
"This research clearly underscores the significant market opportunity available today in the timeshare industry
across a broad range of product categories," said Craig M. Nash, Interval's chairman and chief executive officer.
"The results also reinforce the findings of other Interval-sponsored research indicating the industry has
only captured a small percentage of its potential market share in the U.S. "
While married couples in their 40s and 50s continue to represent the majority of the membership base, young professionals
with children under the age of 18 and retirees constitute a growing segment. The average household income of the
membership base has risen 11 percent over the past two years, to almost $103,000. More than one third of Interval's
members have a household income above $100,000, compared to just 9.3 percent of the general U.S. population. Over
90 percent of Interval's members own their primary residence, and the average value of that residence is $212,000.
These findings validate the industry's recent expansion of the quality and luxury tier product categories.
The remaining two-thirds of Interval's members have a household income under $100,000, with the majority in this
group having a household income between $50,000 and $75,000. This relatively larger middle-income group demonstrates
that the vacation-ownership industry's mid-market segment remains alive and well and continues to draw large numbers
of purchasers who become Interval members.
"The growth of our membership base across a variety of lifestyles and life stages validates the industry's
push to tailor vacation ownership products and services to meet the unique travel and leisure demands and budgets
of many market segments," said Nash.
Interval's U.S. members are well educated. Eighty-four percent have attended some level of college, with 24 percent
holding a master's or doctoral degree. Forty-four percent work in professional or managerial positions.
Approximately 40 percent of Interval's U.S. members own more than one timeshare week. Twenty-five percent own two
weeks, and another 15 percent own three or more weeks. On average in the U.S., an Interval member now owns 1.6
timeshare weeks, up from 1.5 weeks in 1997. Close to 90 percent of Interval's U.S. members express satisfaction
with timeshare ownership.
Data for Interval's 1999 Simmons Proprietary Research Study were collected by mailing an eight-page questionnaire
to 2,500 Interval International members that were selected randomly from the active domestic member list. The study
yielded a 50 percent response rate. A total of 1,256 questionnaires were tabulated. Simmons estimates a 95 percent
certainty that the overall survey results are within plus or minus 2.7 percent (or better) of what would be obtained
if questionnaires were completed by every active Interval International U.S. member.
Interval International, The Quality Vacation Exchange Company, has served the vacation-ownership industry since
1976, offering innovative products and leading the industry with the highest level of quality, service and value.
Interval has attracted leading independent and brand-name developers to its network, which now includes approximately
1,800 resorts in over 70 countries. Interval serves its developer clients and consumer members through 31 offices
in 23 countries. Beyond exchange, Interval offers its developer clients a range of services, including program
design, sales and marketing support, travel, reservations and financial services.
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Contact: Christina Wells
(305) 666-1861, Ext. 7267
cwells@interval-intl.com or
Ellen Yui
(301) 270-8571
ellenyui@starpower.net