CLASSIC HOLIDAYS IN STRATEGIC NZ ACQUISITION

Written on the 13 May 2014

CLASSIC HOLIDAYS IN STRATEGIC NZ ACQUISITION TIMESHARE company Classic Holidays has confirmed its acquisition of New Zealand’s Monad Pacific Management Limited.

Monad manages 13 timeshares resorts across New Zealand, with about 13,000 member families under management.

The acquisition will come into effect on June 30 and makes Classic Holidays the largest timeshare management company in Australia and New Zealand with 65,000 member families.

Classic CEO Ramy Filo says the acquisition benefits members of both companies.

“Through this acquisition, Monad’s members will have access to Classic Holidays’ 19 managed Resorts and Clubs in Australia, as well as giving our Australian members access to 13 resorts across New Zealand, from the Bay of Islands all the way down to Queenstown on the South Island,” says Filo.

“We also have thousands of Classic Holidays member families across the Tasman. With the extension of Classic’s business into New Zealand, we will be providing more options for these members to holiday locally.”

Monad CEO Martyn Rix will continue in a key role in the organisation for at least 12 months to oversee the transition. 

“Monad will continue to operate out of our Christchurch offices, and we will be there to support our members through a smooth integration,” says Rix.  

“This move is a great opportunity to increase benefits for Monad members, with plans for an expansion of services, such as dedicated travel services.

“Additional benefits available to Classic Holidays members, such as Exchange and Play, will also be introduced to Monad members, offering an internal exchange system and other tourism and leisure products such as car hire, tours and cruises.”

Latest News

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

GOLD COAST AIRPORT RECORDS STRONGEST PERIOD IN HISTORY

The Gold Coast Airport recorded its strongest April in history for passenger numbers, supported by a growing numbe...

THE TRAVEL STARTUP THAT EVICTED THE HOUSE-SITTER

YOU'VE used Expedia to book the flights, AirBnB to find accommodation, and Uber to get around in the new city and...

MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

IT'S BEEN 10 years in the planning and had at least 10 different architects and has involved the acquisition o...

Related News

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trad...

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!me...

ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

FOLLOWING a warning to the market and a subsequent trading halt earlier in the week which has shaved more than $11...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter