Classic Holidays Acquires Monad Pacific Management
Australian Timeshare Management company, Classic Holidays, has this week confirmed their acquisition of New Zealand-based Monad Pacific Management Limited.
- (1888PressRelease) May 14, 2014 - Monad manages 13 timeshare resorts across New Zealand, with approximately 13,000 member families under management.
The acquisition, effective June 30, makes Classic Holidays the largest timeshare management company in Australia and New Zealand.
Ramy Filo, CEO of Classic Holidays, said the acquisition would bring increased benefits to members of both holiday companies.
"Classic Holidays and Monad Pacific Management are likeminded companies with longstanding professional management skills in this sector," said Mr Filo. "We will be bringing together the synergies of both companies to pave the way forward.
"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.
"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."
Martyn Rix, CEO of Monad, 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," said Mr 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."
The Monad acquisition will grow the number of member families under Classic Holidays management to 65,000 across Australia and New Zealand.
For more information on Classic Holidays visit www.classicholidays.com.au.
For information on Monad Pacific Management Ltd, visit www.monad.co.nz.
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