What initially seemed like it would only be 14 days of lockdown for many European nationals, it has now extended to 18 months and counting!

Unless you own your timeshare in the same country that you reside in, you are very likely to have paid management fees for holidays that you have been unable to use. For a large majority of us, we have now already missed out on 2 years’ worth of paid vacations.

Will this ever end!

When talking about the pandemic and travel restrictions the answer is yes. It will eventually ease off; however, tourism will still be affected for some time. Tenerife and parts of Spain have entered into stage 4 again, meaning you cannot enter a building without proof of full vaccination. These same rules are already in place, preventing entry to many countries and territories.

Will timeshare ever be the same?

The effect that this has had on tourism has been bad, but the impact on timeshare has been devastating.

No new sales combined with the biggest decline in members since timeshare began, have increased maintenance fees for the remaining loyal members. This has now caused a snowball effect of remaining owners exiting and submitting compensation claims before the arrival of their next maintenance bill.

Timeshare Closures

This has caused the collapse of some of Europe’s biggest timeshare chains. Silverpoint, Azure and Club La Costa have all filed for bankruptcy, while Diamond Resorts are undergoing an acquisition deal with Hilton.

The majority of timeshare resorts across Europe have kept the doors closed since March 2020, and it doesn’t look like they are opening anytime soon.

If you are worried that your maintenance fees may increase, and would like information regarding exiting your agreement, or, would like to know if you are due compensation, please use the claims calculator on the link below. A member of our team will contact you with all of the relevant information.