The National Consumer Commission’s inquiry panel into the vacation ownership or "timeshare" industry has identified the resale of points as one of the key issues it will focus on in its investigation. The panel, lead by former chairwoman of the National Consumer Tribunal Diane Terblanche, began hearing directly from consumers on Monday in Pretoria. Terblanche said that when it came to timeshare contracts consumers were often left with more questions than answers regarding the nature of the product they had bought. Some consumers told the panel that they bought holiday points, believing it was an investment, only to discover later that they could not resell those points for the amount they bought them for. "Points have no value. You cannot trade in it," said retired Timo Schambreel, who has been a Holiday Club member for 15 years. The Holiday Club is a subsidiary of the Beekman Group. Buying into timeshare generally refers to the purchase of time, usually measured in weeks, at a part...
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