Competition authority hits timeshare seller SWF HOLDER with HUF 10 mln fine

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The Hungarian Competition Authority (GVH) fined SWF HOLDER HUF 10 million on charges of misleading consumers with offers for timeshare rights, Hungarian news agency MTI reported yesterday.

According to the announcement from the competition office, SWF HOLDER told prospective clients that it was a reseller of timeshare rights in the spa town of Hajduszoboszló, while GVH states the firm was actually active on the primary market.

GVH also alleged that SWF HOLDER failed to inform clients that the sale of their timeshare period was conditional on the purchase of another timeshare period, and it suggested that timeshare rights could easily be resold to foreigners, MTI reported.

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