2015 RECREATIONAL REAL ESTATE REPORT
While sales of vacation homes plummeted during the Great Recession, our research since 2008 has shown that owning a vacation home continues to be one of the most cherished aspirations of U.S. households with discretionary income.
To identify how interested consumers are today in owning a vacation property and better understand the tastes and preferences of prospective purchasers and how they might differ from current owners Resonance Consultancy interviewed more than 3,300 recent U.S. travelers of all ages and incomes to learn what kind of vacations they wanted, where they wanted to stay, the amenities they desired most and least, the activities they most enjoy on vacation, and their aspirations and preferences for ownership of a vacation home.
Resonance Consultancy’s research has identified some clear differences between the behavioral travel habits of current vacation homeowners and prospective vacation home buyers. Some differences are common sense: often prospective buyers are simply at a different stage in their lives, and therefore values other priorities, such as programs for kids. But beneath the practicalities of particular features, the underlying values of prospective purchasers in terms of why they travel in the first place, as you’ll see in this report, is significantly different than that of current vacation homeowners and travelers in general. Understanding the values and motivations of tomorrow’s buyers is essential to the planning and designing of new residential products today. This 5X-page report provides in-depth information on:
- Vacation Home Aspirations – The desirability of vacation homes today vs. other goods and experiences
- Owners vs. Intenders – Demographics of today’s potential buyers and how they differ from current recreational real estate owners
- Usage and Pricing – Anticipated use and desired price points of prospective purchasers
- Amenities and Experiences – Desirability and importance of various community recreational activities (golf, skiing, hiking, shopping, etc.)
- Product Design – Most desirable housing features and amenities
- Prospective Purchaser Profiling – Segmentation analysis of U.S. travelers and detailed psychographic profile of current prospective vacation property buyers
Current Owner Demographics
Types of Vacation Properties Currently Owned
Vacation Property Distances from Primary Residence
Current Usage of Vacation Properties
Prospective Purchaser Demographics
Planned Types of Future Vacations
Key Decision Factors in Choosing a Vacation Destination
Participation in Activities on Vacation
Preferred Hotel Brands on Vacation
Vacation Property Type Considering Purchasing
Anticipated Distance from Primary Residence for Prospective Purchasers
Anticipated Usage for Prospective Purchasers
Amount Willing to Spend on Future Vacation Property
Importance of Future Vacation Home Features
Prospective Purchaser Segmentation Profiling
2015 PORTRAIT OF THE U.S. INTERNATIONAL LEISURE TRAVELER
To better understand the tastes and preferences of the U.S. international leisure traveler, Resonance Consultancy conducted an online survey of 1,256 recent international travelers of all ages, from 18 to 80, in November 2014. This 114-page, infographic-rich report on the U.S. International Traveler provides detailed findings on the demographics, destinations, activities and experiences desired by this lucrative travel audience.
2015 PORTRAIT OF THE U.S. MILLENNIAL TRAVELER
To better understand the tastes and preferences of the U.S. Millennial traveler, Resonance Consultancy conducted an online survey of 1,189 recent travelers aged 18 to 34 in November 2014. This 118-page, infographic-rich report on the U.S. Millennial Traveler provides detailed findings on the demographics, hotel brands, amenities, activities and experiences desired by this burgeoning travel market.
2015 PORTRAIT OF THE U.S. RETIREE TRAVELER
65+ is the fastest-growing demographic in the U.S. and the wealthiest demographic in the developed world. Ten thousand Boomers turn 65 every day, and they’re healthier, wealthier and more worldly than any before them. While some of their demands are unique, the desires of the 65+ traveler mirror those of their younger counterparts, from the demand for free internet in hotels to the desire to learn something new on vacation. For the Portrait of the U.S. Retiree Traveler we surveyed 1,147 travelers aged 65 and over in the U.S. for their current and future travel and accommodation desires.
2016 Future of Luxury Travel Report
The 2016 Future of Luxury Travel Report identifies 10 high level trends that reflect experiences and habits that are shaping the travel experience at the high end in the U.S. and around the world. As wealthy U.S. travelers remain one of the most lucrative travel market segments in the world, and an important driver of luxury travel demand and trends across the globe, Resonance conducted an online survey with 1,667 U.S. travelers in the top 5% of U.S. households, with 724 travelers falling in the top 1%.