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Impacto Económico del Tiempo Compartido por Localidad:
Acapulco
THE RESORT TIMESHARE INDUSTRY
IN PUERTO VALLARTA: 1999
EXECUTIVE SUMMARY
Resort timesharing has existed in overall Mexico and Puerto Vallarta since the early 1970s. During the past few years, it has been one of the fastest-growing vacation and real estate industries in the country and elsewhere around the world. On a world-wide basis, it is estimated that over 3.75 million households own timeshare in over 5,000 timeshare projects. It also is estimated that world-wide sales volume in the timeshare industry in 1998 will be over $6 billion.
There are 278 timeshare projects in Mexico, for about six percent of the world's total. The 278 timeshare projects are located in Puerto Vallarta (49), Cancun (40), Acapulco (31), Mazatlan (27), Los Cabos (21), Ixtapa (19), Manzanillo (12), Cozumel (five), Huatulco (four), and elsewhere around the country (70). About 20.9 percent of all overnight accommodations in the nine major coastal resort destinations of Mexico are timeshare units, including 36.8 percent in Puerto Vallarta and 36.7 percent in Los Cabos.
There are 22,345 timeshare units in Mexico, and 5,880 in Puerto Vallarta. Of this latter total, 34.3 percent are hotel rooms or studio units, 45.1 percent are one-bedroom units, and 20.6 percent are two-bedroom or larger units. The overall average annual maintenance fee for a timeshare interval in Mexico is about $325. The current average net price for a timeshare interval in Mexico is about $9,400, ranging from about $5,000 for a hotel room to $13,100 for a two-bedroom unit. Prices are higher in Puerto Vallarta, in that 51.2 percent of owners paid more than $8,000, compared to 33.5 percent in overall Mexico.
On a historical basis, over $7.1 billion of timeshare inventory has been sold in Mexico, and about $1.9 billion in Puerto Vallarta. In Puerto Vallarta, this involves 221,700 intervals being sold to 158,350 consumers, including 47,900 Mexicans and 110,505 foreigners. Some 80.8 percent of the foreign buyers reside in the United States. The 633,000 owners in overall Mexico represent about 17 percent of the world's total. About $857 million of timeshare was sold in overall Mexico in 1998, or about 14 percent of the world's total. Some $205 million was sold in Puerto Vallarta.
The timeshare industry contributes significantly to Mexico's economy. In 1998, the year-round occupancy rate in built timeshare projects was about 78.2 percent, compared with about 56.5 percent in the hotel industry. The average timeshare-vacationing party spends 9.4 nights while on their timeshare vacation, including occupancy of their timeshare unit and other forms of overnight accommodation. The average visitor party size is 3.8 persons. These figures mean that the timeshare industry annually generates almost 28 million visitor days in overall Mexico and about 7.8 million in Puerto Vallarta.
Total direct consumer expenditures of all timeshare vacationers in Mexico are over $1.5 billion. About another $310 million is annually spent on travel expenditures. These figures are about $420 million and $74 million, respectively, in Puerto Vallarta. When including indirect expenditures created by the multiplier effect, marketing and sales expenditures, employee taxes, etc., it is estimated that the timeshare industry annually generates about $7.1 billion for the country's economy, and about $1.9 billion for Puerto Vallarta's economy. These figures do not include dollars generated by new construction, remodeling, furnishings, etc.
The timeshare industry is responsible for creating (directly and indirectly) about 96,500 jobs and about $900 million of payroll in overall Mexico, and about 25,400 jobs and $235 million of payroll in Puerto Vallarta. It is felt
these estimates are very conservative.
The vast majority of timeshare owners in Puerto Vallarta are upper-middle-income households. Most are between 40 and 60 years of age, college graduates, and married households. The median income of U.S. owners in Puerto Vallarta is over $78,000. Almost one-third have incomes over $100,000.
The vast majority (almost 75 percent) of all owners express satisfaction with their timeshare purchase in Puerto Vallarta. Over 80 percent say their purchase has matched or exceeded their original expectations. The most frequently stated reasons for purchasing timeshare are the exchange opportunity with other resorts, the opportunity to vacation in nicer places than before, saving money on vacation costs, and greater ease in planning vacations.
Timeshare owners also are very satisfied with their exchange company and their most recent exchange experience. They have used their own unit and an exchanged unit in Mexico frequently. Expected return trips to Mexico during the next 10 years are extensive, and far more than if they did not own timeshare in the country.
