Cabinet Approves Timeshare Ownership Legislation

The Cabinet has approved the introduction of timeshare and fractional ownership legislation to govern these types of ownership as a means of boosting investor confidence and wooing long-stay visitors to our shores.

Minister of Tourism and International Transport, Ian Gooding-Edgehill made the announcement yesterday during a Post-Cabinet press briefing at Ilaro Court.

The Minister pointed out that the absence of regulatory guidelines for such tourism investment models had limited Barbados’ ability to fully capitalise on a segment of travellers who returned to the island multiple times per year, and spent more on accommodations, services, and amenities.

“We firmly believe that this initiative will further stimulate not only visitor arrivals to the destination, but, will certainly increase investor confidence, and of course, will bring more investments to Barbados…and will also help Barbados continue to build out its tourism arrivals,”

The Minister stressed that the new legislation was designed with robust consumer protections and clear governance mechanisms aimed at strengthening consumer protections related to shared and long-term holiday products, greater clarity in advertising and the establishment of safeguards for pre-contractual and contractual arrangements.

Minister Gooding-Edgehill thanked officials in his Ministry and other key stakeholders for their input into the development of the legislation. 

When enacted, Barbados will join The Bahamas and Jamaica which have already implemented similar legislative frameworks. (PR/GIS)