A timeshare, also known as vacation ownership, is a property featuring a divided form of ownership or use rights. Timeshare vacation plans have been observed in the US since 1969. The 1st opened in Kauai, Hawaii
Some people took timeshares as a good option, and about 1 out of every 12 Americans or 7.9% owned one in 2014. This was up from 7.2% in 2012, according to the American Resort Development Association (ARDA). Timeshares can guarantee you vacation time since they often feature fixed annual dates for right-of-use.
Hotel companies have viewed timeshares as huge profit centers as well. Also, timeshares have to do with high-pressure sales tactics that get mocked relentlessly in pop culture and they’re often sold at a loss when it comes time to unload one.
Travel and timeshares should be accessible anywhere, and travel and timeshare merchants should be able accept payment electronically from anywhere. If you’re running a travel agency, tour guide service, or involved with timeshares, getting a merchant account that best suits your business needs can prove to be difficult. The thing is that traditional banks and processors usually stay away from your type of business, being worried about risk and legal exposure.
No matter you’re a tour guide company that accepts large-group payments and requires a high transaction volume account, or a travel agency that books high ticket vacations for exclusive clients, reputable payment processors can help you get the best for your business wants and needs. Turn to respectable high risk merchant account providers that offer cost-effective rates and exceptional application processes.
With the right processor, you can secure a reliable and affordable timeshare merchant account without any challenges. You’ll be required to provide the proper documentation and sign an agreement, after which you’ll be able to have an operational merchant account.
According to the American Resort Development Association, timeshare owners are becoming younger and more ethnically diverse. The median age of owners is 39. More than 40% of US owners are either African-American or Hispanic.
ARDA’s 2016 Worldwide Shared Vacation Ownership report shows that the timesharing industry is growing and expanding. The industry witnessed a jump in sales from $17.7 billion in 2014 to $19.7 billion in 2015, which was an increase of 11.5%.
On the other hand, the global timeshare industry supported nearly 1.3 million jobs in 2015, spread throughout employment directly at resorts as well as in supply chain environments. Overall, the industry generated $57 billion in economic output, contributing to global economies across the world.
Author Bio: Electronic payments expert, Blair Thomas, co-founded eMerchantBroker in 2010. His passions include writing/producing music, and travel. eMerchantBroker is America’s No. timeshare merchant account company, serving both traditional and high-risk merchants.