As most Club la Costa owners will be aware, back in October a press release was issued announcing that CLC had entered into an ‘operational partnership’ with American timeshare giant Wyndham Resorts. Wyndham own or control over 9,000 resorts worldwide plus the exchange network RCI and will be converting the CLC World properties to their existing branding.
But what does this mean for owners:
· Existing CLC resorts based in Turkey, Tenerife,Spain, Scotland, UK and Austria look likely to soon be open to exchange for existing Wyndham owners- What effect will this have on availability fore xisting CLC owners
· There will be significant costs involved in re-branding CLC’s resorts- How will these re-modelling plans be paid for.
· Will existing CLC owners be asked to upgrade into Wyndham’s own existing timeshare programs? What will the cost be to do so?
Whilst this ‘operational partnership’ is not a full takeover, this is a worrying time for those who own Timeshare with CLC World aswe wait to find out exactly what the future has in store. One thing is certain- there will be changes ahead at CLC World!
Why have CLC World entered the partnership?
There are a number of issues that Club la Costa have facedover recent years that have led to this point which are outlined below.
· A large number of judgements have been made against them in the Spanish courts as many of the contracts they have issued do not meet the requirements for a timeshare contract under Spanish law. These claimants have applied to the courts to have their timeshare contracts declared ‘null and void’ and have the money they have paid returned to them including ‘double damages’ for any payments they made during the cooling off period. To find out more about Spanish timeshare claims and to see if your contract could be affected by these rulings contact us 08000 060 8729
· The pressure of the court actions plus the restrictions caused by coronavirus restrictions led CLC to place their sales companies into voluntary liquidation. This seems to be a tactic employed to try to reduce their liabilities under the Spanish rulings.
· More owners than ever have been taking advantage of CLC’s ‘free hand back’ offer. In which they allow any owner who is up to date on their maintenance fees to simply give back their timeshare ownership. In doing so, they are forced to ign a disclaimer which will rule out any potential claim in the future and does not stop finance payments for those still paying for their timeshare purchase through external finance providers.
· A recent landmark ruling by the Financial Ombudsman Service (FOS) has ruled against Barclays Partner Finance over the financing of a Club la Costa Fractional points purchase. This ruling has set the benchmark for similar claims, and we should start to see more and more owner shaving their finance payments stopped and the money they have paid returned to them. There are 100’s of these claims already registered with FOS and the combined amount of these claims will run into the millions! To read more about these rulings please call us free on 0800 0608729.If you are concerned about what the future holds for your CLC World timeshare, please contact us today. One of our friendly advisers will be able to let you know all the options that are available to you and answer any questions you may have.
You can contact us by calling us free on 0800 060 8729, by using our live chat facility in the bottom left-hand corner or by visiting our contact us page