Press release -
Rumours of timeshare companies hiding money and preparing to close. Time to jump ship?
Timeshare industry's future in disarray, but some owners may have a lifeboat
Industry under pressure
The conscious decision to ignore laws protecting consumers from high pressure sales and unfair contracts is hitting the timeshare industry hard. Resorts are currently haemorrhaging money through court awarded compensation payouts over illegal contracts that they have been issuing for years.
Dated and expensive
New people are just not signing up for timeshare memberships. Why should they? You can generally stay at any timeshare resort without being a member. Plus being a member means paying every year for a holiday whether you use it or not. It's a restrictive, more expensive way to holiday.
This lack of 'new member' revenue, when combined with the hundreds of millions on court ordered compensation payments to mis-sold owners, means that many companies are in serious financial trouble.
There are persistent rumours that some of the most established timeshare companies in both mainland Spain and the Canary Islands are preparing to go into administration. Both in a legal sense, and in some instances (allegedly) by illegally hiding money through strings of connected companies, so as to keep it out of reach of the official receiver.
Anfi Del Mar is one of many companies accused of this type of criminal money movement. Many other big names are said to be doing the same thing, including one major company with a huge resort on the Costa Del Sol
According to a study paid for by the timeshare industry, 85% of owners are happy with their timeshare membership.
According to a different study done by the (neutral) University of Central Florida, only 15% of owners are happy.
If we are generous and accept the average of 50% (despite the contention that one study is paid for by an organisation with a commercial interest in the result) that means half of people who own timeshare are happy to do so.
"The half who are not happy with their ownership are already likely to be looking into either relinquishing what they own, or if they are lucky enough to qualify for a compensation claim, to be seeking help with doing so," says Daniel Keating, Information Officer for the Timeshare Consumer Association (TCA) .
"As for people who the industry say are happy with owning timeshare, we also have to bear in mind that this study is several years old and before those owners were forced to pay their annual fees in full during the pandemic without being able to take the actual holidays.
Get out while you can
"Whatever the case, anyone happy with their timeshare - perhaps because they are used to it and haven't kept up with the fact that the rest of the travel industry gives better value now - those people really need to look at claiming compensation if they are able.
"Any resort that does collapse and go into liquidation may leave existing owners with nothing - no ownership and no holidays. Trying to claim compensation at that point would leave them in a queue behind all the existing creditors
"The analogy being used is that happy timeshare owners are like guests on the Titanic who loved being on board. and don't want to leave
"Whether people like what they own or not the smart move is to look into claiming compensation, because right now even the biggest resorts are on questionable financial footing."
For advice on this, or any other timeshare related issue, contact the Timeshare Consumer Association, on the details below
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- Timeshare manipulation tactics. How people are influenced to buy on the day.
- Has COVID sealed the fate of the timeshare industry?
- Is there a future for the timeshare industry?
- £80k to join an "exclusive" timeshare club that is now on booking.com
- Timeshare owners furious over paying for years of holidays they can't have
- Feet in the desert. Timeshare industry giants disappearing into history
- Spanish timeshare compensation claims. Fact vs fiction
- The timeshare exit minefield. Can you safely escape an unwanted membership?
- Timeshare Consumer Association reviews
- Timeshare ownership vs regular hotel stays. Cost comparison
- Considering a timeshare compensation claim? Now may be the time
- Timeshare refund claims
- monte anfi
- timeshare compensation claim
- CLC World
- timeshare consumer association review
- Anfi Del Mar
- Can tca be trusted?
- Daniel Keating
- Who are Timeshare Consumer Association
- puerto anfi
- dan keating
- Timeshare consumer association reviews
- Timeshare refund
- Who are the TCA
- help with timeshare problems
- Club La Costa
- Timeshare Consumer Association
- can tca be trusted
- Timeshare compensation claims
- Anfi Group
- Timeshare Advice Centre
- TCA reviews
- Timeshare advice
- Timeshare reclaims
- timeshare compensation
- Who are TCA
- Anfi Beach Club
- gran anfi
Timeshare Consumer Association. Contact us on: T: +44 2036704588 or +44 2035193808 (ask for Daniel), E: firstname.lastname@example.org (Address to Daniel).
WhatsApp (message only) +447586871055
TCA provides a central resource of consumer information on timeshare matters for the media and other organisations – We work towards encouraging responsible, honest, timeshare operators. We also publicly expose negative consumer practices and organisations which operate in a manner detrimental to timeshare buyers and owners.
An important part of our mission is to lobby UK and European Governments and regulatory bodies for improved consumer protection in the timeshare environment and collect information on frauds and mis-selling, for action by enforcement authorities.
We are staffed by former and current timeshare owners, as well as former timeshare industry staff. We know our way around the timeshare business
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Timeshare Consumer Association website here
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