Competition authority hits timeshare seller SWF HOLDER with HUF 10 mln fine
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.