Progress slow on Europe-wide implementation of new Directive
Nearly two months after the formal deadline given for the implementation of the new EU Timeshare Directive, only eleven European countries have completed the process. Work is continuing to reach the same level of consumer protection across the rest of Europe. The Directive has already been implemented in Austria, Czech Republic, Denmark, France, Germany, Greece, Malta, Netherlands, Portugal, Sweden and the UK. Luxemburg and Slovakia are expected to have new legislation approved shortly whereas other countries including Spain are lagging behind in the process and have yet to confirm when the Directive will be implemented. The new Directive aims to provide protection...
Selling Timeshare
There will of course be situations where owners may need to dispose of their timeshare/points. However, as Timeshare is regarded as a long-term investment in holidays, as opposed to an investment in real estate, it would be unrealistic to rely on realising the original purchase price. Bear in mind that some resorts/unit sizes are far more popular than others and ; as sales depend on current supply and demand it is not always possible to guarantee a date for resale. Selling Privately If you are thinking about selling your timeshare or points, you should make a note of the following: Timeshare is not...
If You Feel You Have Been Defrauded
Contact/Attend your local police station to report the crime and to make a written statement on the official forms. This must also be typed to ensure all necessary parties can read the statement. Any documentary evidence should also be properly exhibited and attached to the statement. The statement should be translated into the language that has the jurisdiction of the crime. The statement should then be forwarded by the police to Interpol. Interpol will check the quality of the statement and that any documents attached are correctly mentioned in the statement and will then forward it to their colleagues in...
Resorting to Legal Action
Solicitors If you feel that your genuine grievances are being rejected both by the timeshare company and by your credit card issuing bank or finance company regulated by the Consumer Credit Act 1974, you could consider obtaining a fee quotation from a solicitor for handling the claim. Or you could refer the claim against your card issuing bank to the Banking Ombudsman (pamphlet available from 020-7404 9944). View list of Associate Members - Lawyers Your home insurance policy It is worth looking at your insurance policy to see if legal costs cover is included. A single call to your insurers should give you this...
Additional Rights of Redress if You Paid by Credit Card
If you paid by means of a Visa credit card, you should be aware that Visa introduced a rule in November 1996 (which is not linked to any legislation) and Mastercard more recently (which is linked to the EU directive), which set out that a customer buying timeshare with a credit card is entitled to a 10-day cooling off period, irrespective of whether there is local cooling off legislation in place or not. The 10-day Visa/MasterCard cancellation and cooling-off rule is particularly relevant in areas of Europe that are not subject to the European Timeshare Directive as they are outside the...
Have you been defrauded?
Timeshare owners who have been defrauded by Resale Firms*, Holiday Clubs, Cash Back Schemes, Class Actions, Fly Buys*, etc. should contact RDO’s Enforcement team on enforcement@rdo.org as soon as possible. The Enforcement team requires a detailed written summary of the case (including dates, name of the company, an outline of what the offer included and details of payments made), and a copy of all the documents related to the case ie the contract - which should include details of the services included - and all other available documents such as faxes, e-mails, and proof of payments made (credit card slips or...
UK Timeshare Statistics May 2008
Resorts UK & Ireland: * England 74 * Wales 10 * Scotland 22 * Ireland 7 * Total 113 Weeks in the portfolio: * UK & Ireland 189,000 (72% already purchased) * Scotland 56,000 (81% already purchased) Average accommodation units per resort: * England 30 * Wales 31 * Scotland 51 * Ireland 15 * Total 3,780 Average rooms per resort: * England 53 * Wales 57 * Scotland 107 * Ireland 27 * Total 7,038 Number of bed nights generated annually: * UK & Ireland 2.24 million * Scotland 675,000 Occupancy levels: * UK 87% * Scotland 92% Total annual holiday makers: * UK 630,000 * Scotland 200,000 Week long holidays taken each year at UK timeshare resorts 115,000 Annual holidaymakers staying at UK resorts 630,000 Average annual sales volume: * UK...
2002 Worldwide Timeshare Statistics
The figures below have been kindly provided by Ragatz Associates, a business unit of RCI, and are extracted from their “Resort Timesharing Worldwide: 2003 Edition Summary Report”. Worldwide $9.4 billion timeshare sales in 2002 6.7 million households own the rights to about 10.7 million timeshare weeks 5,425 timeshare resorts, of which around 25% are situated in Europe North America hosts 31% of resorts, Latin America 16% (where Mexico leads with 40% in the region). Rapidly emerging Asia offers 14%, led by Japan, but with Thailand and India increasingly prominent. ...
The European Timeshare Industry 2008
Key Findings for 2007 General characteristics of the timeshare industry in Europe In 2007 1.5 million European households owned timeshare. The UK and Ireland form the largest market having 589,653 timeshare owners, followed by Germany and Italy. Most resorts are concentrated in Spain, with 26.3% of the total, 14.94% in Italy and 11.05% in the UK & Ireland There were a total of 1,312 resorts in Europe. The total number of units in European resorts is 73,540, resulting in 67,590 million bed nights. ...
Cruise Industry Overview 2008
Cruise Industry Overview 2008 12.6 Million passengers (worldwide) took a cruise in 2007 with 12.8 Million passengers estimated for 2008 Cruise Industry is the fastest growing category in the travel industry with an annual passenger growth rate of 8% p.a. The average length of a cruise is 7 days Utilization is constantly over 100% 35 new state of the art ships are contracted or planned to be added through 2012. This is an investment of a staggering USD 21 Billion 95% satisfaction...