About the directive
The timeshare directive regulates timeshare contracts, long-term holiday products, resale and exchange contracts and replaces the timeshare directive of 1994.
The new rules are clearer and simpler, while better protecting consumers against unwanted timeshare contracts. These are agreements of more than one year with the consumer buying a right to use overnight accommodation, such as an apartment in a holiday resort, during fixed periods of time.
The new rules also cover newer products on the market, such as timeshare contracts for less than three years, as well as contracts on movable property for accommodation purposes such as cruise boats, caravans or canal boats. Re-sale contracts and long-term holiday products are also regulated by the directive.
Information to be provided by traders
Traders must provide detailed information to consumers in good time before signing the contract, including information on the price, a description of the product and the exact period and length of stay that the consumer is entitled to. This information should be provided in the consumer's own language if they so choose.
Withdrawal from contract
The directive also ensures that consumers can withdraw from a contract within a "cooling-off" period of 14 calendar days and that traders can never ask them for any form of advance payments or deposit during that period.
On 16 December 2015 the Commission adopted a report with a first assessment of the timeshare directive's application.