As once popular timeshare resort in Paphos, Cyprus is ejected from RCI industry experts are predicting lower standards across the board for timeshare complexes in Europe.
In early February 2024, owners at Panareti Pafos resort in Cyprus were informed in a blunt email from RCI that "Resort 6480 Panareti Pafos resort is no longer affiliated to RCI."
Weeks owners would no longer be able to deposit or exchange. Points owners could no longer receive annual points for their inventory. Exchanges and reservations already confirmed would be honoured, but all future deposits and points were about to be "removed from your account."
From this point onwards Panareti Pafos owners would only be able to stay in their home resort.
Reasons were not provided by RCI for the exclusion. However the resort's online reviews are overwhelmingly negative. "Absolutely the worst ever hotel. Where do I even start?" being a typical assessment.
The main theme for complaints seems to be a considerable drop in standards, with facilities, fittings and furniture looking tired and worse-for-wear having allegedly not been renewed since the resort opened in 1992.
RCI's sells memberships, the purpose of which are to enable timeshare owners to exchange their superior quality resort for one of approximately equal luxury in another location. It purports to only allow resorts of a high quality to be affiliated in its network.
If a resort drops its standard to an unacceptable level, RCI can logically no longer include it in their exchange system.
Google reveals that following their removal from the RCI exchange system the Panareti Pafos Resort has closed down permanently.
Industry experts have across Europe have been commenting on the overall drop in timeshare resort standards for many years.
"Timeshare's main selling point was its higher standards than regular holiday accommodation," explains Greg Wilson, CEO of European Consumer Claims. "As most of their sales presentations took place at the complexes they were selling, it made good financial sense to keep the property and facilities state-of-the-art, flawlessly maintained and in perfect condition. It was worth the expense because of the membership sales it helped to generate.
"However, now that new timeshare sales in Europe have pretty much ground to a halt, there is no longer the financial incentive for resorts to maintain previous high standards. The business model has reverted to that of ordinary hotels: 'Charge as much as you can get away with, while cutting costs everywhere possible.'
"The major difference between timeshare and regular hotels is that people can decide not to book a regular hotel they deem too expensive or low quality.
"Timeshare owners are legally bound to pay whatever their resort charges for the entire duration of their membership. Regardless of how badly standards drop."
If your resort is no longer the superior quality of luxury that inspired first you to buy a membership, or if you are disappointed with any other aspect of your timeshare, get in touch with our team at Timeshare Advice Centre.
We can help.
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