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Don't be left on board when the ship goes down
Don't be left on board when the ship goes down

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.

Hiding money?

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

Unhappy owners

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  

"Once the ship starts sinking however, you need to get on the lifeboat before it's too late and there are no places left.

"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 Consumer Association.  Contact us on: T: +44 2036704588 or +44 2035193808 (ask for Daniel), E: enquiries@timeshareadvice.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

Timeshare Consumer Association Newsdesk here

Timeshare Consumer Association on YouTube here

Timeshare Consumer Association on Facebook here

Timeshare Consumer Association on Medium here

Timeshare Consumer Association on LinkedIn here

Timeshare Consumer Association on Quora here

Timeshare Consumer Association website here

    We are a proud member of the UK Small Charities Coalition  

    Press contacts

    Daniel Keating

    Press contact Help desk head

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    Free, expert, impartial timeshare advice since 1997

    Timeshare Consumer Association. Contact us on: T: +44 2036704588 or +44 2035193808 (ask for Daniel), E: enquiries@timeshareadvice.org (Address to Daniel).
    WhatsApp (message only) +447586871055

    The Timeshare Consumer Association (TCA) was started in 1997 by Sandy Grey, a timeshare owner himself, who became sick of what he saw as repugnant sales practises in the timeshare industry.
    Sandy ran the website diligently from his home in Blythe, gaining a reputation for integrity and fearlessness at a time when some timeshare companies skirted with criminal behaviour and employed unsavoury characters.
    Sandy was gradually joined by other volunteers, disaffected owners and even former timeshare sales staff, sick of the “dishonesty” in the industry as a whole.
    Over the years, Sandy and his band of volunteers built up a huge volume of consumer testimony and knowledge. TCA became the number one source of impartial, expert advice regarding the latest scams as well as organisations that actually can be trusted.
    Sandy sadly passed away in 2013, but he had started a movement that could not be stopped. Consumers continuously contact us to both ask for and give advice, sharing their experiences to help others stay ahead of the industry scams and pitfalls.
    The information is moderated, assessed and categorised under the watchful eye of director Keith Dewhurst. With Keith at the helm, TCA has become the number one timeshare consumer organisation in the world.
    Whilst there are paid employees, the TCA operates on a shoestring budget, relying on volunteers and donations, though these are never accepted from sources that could compromise the organisation´s integrity.
    With your help, we will continue to hold the timeshare industry to account.
    While there is timeshare we need the Timeshare Consumer Association watching.

    Timeshare Consumer Association provides a central resource of consumer information on timeshare matters for both the media and the public. – 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.

    A proud member of the UK Small Charities Coalition

    Timeshare Consumer Association
    Artemis House, 4a Bramley Road, Mount Farm
    MK1 1PT Milton Keynes
    Milton Keynes