The Affluent Market for Vacation Homes: Full and Fractional Ownership and Destination Club Memberships

Data in this special report was drawn from the Spring 2005 Survey of Affluent Americans, the seventh in an ongoing series of twice yearly studies of the most affluent 10% of U.S. households. These surveys measure and track how the affluent assess current business conditions and their 12-month outlook for the economy, the stock market, and their personal household earnings. The surveys also monitor anticipated changes in spending for a variety of different products and services, changes in expected rates of saving, and primary investment objectives.

The recently completed survey included a series of special questions about different vacation home options. These options include full ownership of second homes for seasonal and/or year-round use, private residence clubs and fractional ownership of vacation homes, and access to vacation homes through destination club memberships. For the relatively new concepts of fractional ownership and destination clubs, levels of concept familiarity and brand awareness were measured. Current ownership and intent to seriously consider a purchase during the next 12 months were identified for all of the vacation home options.

For much of the preceding, the report also provides data for demographic segments within the affluent population as well as references to historical information (a Fall 2002 survey that included some similar questions) where available.

The respondents in this survey reported an average net worth of $2.7 million and an average $369,000 annual income.

Includes 9 tables.