Classic buys Monad in timeshare coup
Timeshare management company, Classic Holidays, has confirmed their acquisition of New Zealand-based Monad Pacific Management Ltd.
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.
The Monad acquisition will grow the number of member families under Classic Holidays management to 65,000 across Australia and New Zealand.
