Key Findings of VOASA’s Latest Industry Study On Timeshare Resorts

The Vacation Ownership Industry Study: Timeshare Resorts [2023 Edition] conducted by the Vacation Ownership Association of South Africa (VOASA), provides an insightful look into Share Block ownership by providing key metrics for the year 2022. The response rate was well above the current typical response rate for surveys of this type. Furthermore, the 91% response rate among large developers (those with ten or more resorts) suggests that industry performance estimates are reliable since these respondents represent most of the industry. 83% of the surveyed resorts are VOASA members, including all the participating large developers.

Geographic Distribution and Accommodation Capacity

South Africa is home to more than 99 timeshare resorts primarily located in three provinces being KwaZulu-Natal, the Western Cape, and Mpumalanga. The surveyed resorts collectively offer a substantial accommodation capacity, consisting of 5,393 units. This translates into 280,436 timeshare weeks and 27,540 daily bed nights, showcasing the extensive availability for timeshare owners.

Quality and Standards

A combination of stringent quality standards and high occupancy rates demonstrate the strength and appeal of South African timeshare. The substantial investment of more than R553 million in refurbishments and maintenance is notable, with 99% of these resorts holding industry-recognised gradings from entities such as RCI and the Tourism Grading Council of South Africa.

Occupancy Rates

Timeshare owners make frequent use of their holiday ownership, as evidenced by the year-round average occupancy rate of 79%. This figure significantly surpasses the national hotel room occupancy rate of approximately 45%, according to Statistics South Africa, and highlights the value perceived by timeshare owners.

Economic Contributions

Timeshare developments not only provide holiday experiences but are also robust contributors to the South African economy. The annual revenue generated by the surveyed resorts amounted to over R1.6 billion, with a rental pool of R186.9 million, part of which was allocated to pay levies. Additionally, resorts contributed more than R1.5 billion to the economy in government revenue and expenditure, created or sustained over 5,329 jobs and generated approximately R1.1 billion in consumer spending.

Environmental and Community Initiatives

An impressive 98% of the surveyed resorts reported undertaking projects and initiatives aimed at fostering a lasting positive impact on the environment and neighbouring disadvantaged communities. These initiatives reflect the industry’s deep commitment to sustainability and social responsibility.

In conclusion, the industry study confirmed what we already knew: timeshare owners love their timeshare. With high standards of quality, significant investments in refurbishments, and impressive occupancy rates, South African resorts continue to deliver a reliable and exceptional holiday experience, underscoring the success and appeal of this vibrant industry.

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