Magazine article Marketing

Borrie Blasts Timeshare

Magazine article Marketing

Borrie Blasts Timeshare

Article excerpt

Borrie blasts timeshare

The timeshare industry's dubious operators face a purge following a call by the Office of Fair Trading (OFT) for a legal clampdown on their operations.

Director general Sir Gordon Borrie slammed some practices as "the worst form of marketing".

His recommendations, which come after a year-long OFT enquiry into the industry, will disappoint the Timeshare Developers Association (TDA). Led by executive chairman Tom Critchley, it had hoped the balance would swing away from primary legislation and towards self-regulation, with the TDA itself taking a leading role.

"The major remedies should take the form of legislation because of the financial importance of timeshare to the buyer, because it is an infrequent and complicated purchase, and, not least, because the industry has attracted unethical operators who will be bound by nothing less," says Borrie who wants to see a "belt and braces" approach.

He recommends a legislative package which forces timeshare sellers to give prospective buyers a written prospectus explaining precisely what is on offer and at what price; and enforcing a 14-day cooling off period. …

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