Another Spanish timeshare resort crashes as Club Paradiso/Paramount closes down

It was confirmed that on 6 June 2019 another Spanish timeshare resort, Club Paradiso/Paramount, closed its doors. The resort is managed by Excel Hotels & Resorts and its website is no longer available. Phones are going to voicemail, with only security reportedly remaining on site. Various sources have stated that owners are currently unable to use their weeks. We have also been informed that members are being moved to other Silverpoint resorts, but would need to pay for the transfer as Excel is not honouring payments already made.

For owners, this kind of closure inevitably raises serious questions about the value of their initial investment and what happens next. At this stage, nobody can say for certain how the situation will be resolved. However, it has been reported that Silverpoint and Excel are currently in dispute.

For members of Club Paradiso/Paramount, it is likely you will no longer be able to use the resort as originally agreed. If you are considering making a claim against the resort and/or a finance company (where applicable), the advice is that this situation may amount to a clear breach of contract.

Elsewhere, other resorts are facing liquidity problems and further insolvencies are expected.

Imagine if this happened to you?

With this in mind, we urge anyone who is unhappy with their resort, or who feels they were mis-sold, to seek professional advice sooner rather than later.

For new enquiries, Timeshare Advice Centre has recently launched an exclusive offer giving timeshare owners a mini-break hotel stay in either Costa del Sol, Spain, or one of their satellite offices across the UK.

Can I claim? Can I walk away? Can I ignore?

For more information, call the Timeshare Advice Line on 0203 807 3388 or email pr@timeshareadvicecentre.co.uk

Why choose Timeshare Advice Centre?

Timeshare Advice Centre, along with its associated law firms, is one of the leading companies helping owners pursue claims and potential payouts connected to the timeshare industry.

Associate Spanish law firm M1 Legal, which specialises in timeshare contract law, reported the following recent victories since the beginning of July.

• Diamond Resorts £49,729 awarded
• Silverpoint £11,253 awarded
• Club La Costa £30,480 awarded
• Club La Costa £41,590 awarded
• 9 victories against Club La Costa on jurisdiction

For more information, call the Timeshare Advice Line on 0203 807 3388 or email pr@timeshareadvicecentre.co.uk