Financial Performance 2015: A Survey of Timeshare & Vacation Ownership Companies

Published and sponsored by the ARDA International Foundation 2015.
Conducted by Deloitte & Touche, LLP.
Full Report: Member $300; Non-member $400.
Executive Summary: Member $25, Non-member $50.

Table of Contents

FOREWARD  

SURVEY METHOD
Survey purpose
Consistency with current financial accounting standards
Survey design and administration
Respondents
Product offering 
Interpretation of results
Core company set

SUMMARY OF RESULTS

SALES ACTIVITY
Net originated timeshare sales
Fee-for-service arrangements 
Quarterly timeshare sales
Number of sales locations
Company size
Timeshare sales measured in weeks
Inventory levels
Average yield of a timeshare week
Sales tour metrics

REVENUE RECOGNITION
Rescissions

KEY RATIOS
Estimated uncollectible sales
Product costs
Sales and marketing costs
General and administrative costs
Home owners association subsidies and maintenance fees
Pre-tax margin on timeshare sales operations
Sales to existing owners

HYPOTHECATION AND RECEIVABLES

PORTFOLIO SALES AND SECURITIZATIONS

CONSUMER FINANCING AND RECEIVABLES PORTFOLIO PERFORMANCE
Consumer financing
Receivables portfolio performance
General and administrative costs of financing operations
FICO scores
Static pool default rate

APPENDIX

Survey form
Survey glossary