The deadline for EU Member States to enact legislation implementing the new EU Timeshare Directive was February 23, 2011. As we reported back in a February post, not all countries were expected to act prior to the formal deadline.
In the interim between the February deadline and this post, Italy, Portugal, Cyprus, Finland, Slovakia, Luxembourg and Malta have implemented and begun enforcement of the EU Timeshare Directive. Sweden has also adopted the necessary legislation, but enforcement does not begin until August 1, 2011.
As we understand it, while the following countries may be considering legislation, the EU Timeshare Directive is still not in force in: Belgium, Hungary, Lithuania, Poland, Slovenia and Spain.
Of course, Spain's absence causes the most concern for EU regulators. As stated just today in a HotelNewsNow article on Accor’s expansion plans for Spain, the country is the third-largest tourist destination in the world and, with a world-wide tourism rebound underway, had an 8.5% increase in foreign visitors for the first quarter of 2011. Underlining this, STR Global reports that Spain’s occupancy rates for 2011 have increased 6.9% to 60.9%, with ADR up 1.8% and RevPAR up 8.9%.