What is Timeshare?
The timeshare industry is over 60 years old and, according to statistics released by the ARDA International Foundation in 2016, generates revenues of over $19 billion per annum in sales and $57 billion in economic output. There are 22 million timeshare owners worldwide, of whom some one and a half million reside in Europe alone. Yet few realise what timeshare is and the extent of its contribution to the economies of Europe and to providing year-round tourism and employment…. Read more
How Timeshare Works
Timeshare developers have the principal responsibility for shaping the development of the timeshare scheme as they take the decisions that establish the characteristics of their resorts and, in most cases, the way in which they will be run. As well as arranging their own project financing, developers may also typically put in place consumer finance facilities. Once the resort is ready for sale, the developer puts in place a mechanism to protect…Read more
Timeshare Laws
Buyers of timeshare have been protected through Europe wide legislation since 1997 and in 2011 an updated Directive (2008/122/EC) was introduced, giving consumers enhanced levels of protection. The Directive now also covers timeshare resales exchanges and most importantly holiday clubs. It also includes boats, caravans and cruise ships… Read more