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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.
Monad CEO Martyn Rix will continue in a key role in the organisation for at least 12 months to oversee the transition.
“This move is a great opportunity to increase benefits for Monad members, with plans for an expansion of services, such as dedicated travel services.
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