ECONOMICS

TIMESHARE HOLIDAYS

A meeting on 14 August 1997.

Councillor David Glaholm of Swindon Council opened the meeting. He spoke of the selling
methods in the resort countries like Spain that had brought the system into disrepute. With our MEP, Dr
Caroline Jackson, he had campaigned for stricter regulations throughout Europe and seen the cooling-off
period introduced.
A number of owners of timeshare weeks were present at the meeting. In general they were pleased
with their holdings, but found it difficult if they wanted to sell. There was a wide margin between buying
and selling prices.
The meeting was critical of selling methods where the public received phone calls telling them of a
prize or free holiday. Purchasers generally paid too high a price. There were agents recognised by the Time
Share Council, a trade body, but sales were slow.
Two international exchange organisations, R.C.I. and I.I., were important. For an annual
subscription and an exchange fee a holder could bank' a holiday and seek an exchange to another resort on
an annual basis. The meeting was generally disappointed with the choice offered, but this depended on the
weeks banked'. Holders with a high- season week had a wider choice in exchange.
The DTI issued a free leaflet The Timeshare Guide' - call 0171 510 0174. The reputable Time Share
Council gave information for buyers and sellers - telephone 0171 821 8845.
A list of visitors who have weeks to sell at very modest prices will be sent to any Institution
member interested.
The meeting thought a timeshare development in Bath would be of value to tourism locally.

Rodney Tye