Press Release: Better protection for holiday-makers: European Parliament to vote on Timeshare

Consumers across the EU are set to benefit from greater holiday protection - when they buy and resell timeshare holidays, or timeshare-like holidays on cruise boats, canal boats, caravans and 'discount holiday clubs' - under new rules to be voted by the European Parliament on 22 October, 2008. The aim of the proposed Directive is to further boost consumer confidence in the Timeshare industry (worth over €10.5 billion and responsible for more than 40,000 jobs across the EU) and to eliminate the rogue traders who cause problems for consumers and bring legitimate operators into disrepute. Up to now, EU rules on Timeshare have given consumers basic rights with regard to clear information, the right to withdraw and change their mind, and a ban on deposits. The new Directive which the European Parliament aims to tackle loopholes in the current rules. Most importantly, it would extend the scope of the 1994 EU Timeshare Directive to cover new products which have emerged on the market – like discount holiday clubs, and 'timeshare-like' holidays on cruise boats, canal boats and caravans. It would also extend protection to important areas like timeshare resale and exchange clubs. The new rules would ensure that consumers are equally well protected across the EU and will create a level playing field in the market for timeshare and certain other holiday-related products.