Troubled timeshare moves to Classic Holidays
Timeshare Shearwater Resort, in north-west Tasmania, has appointed a new board president who says the resort will be financially stable by November.
David Grey was appointed after resignations were received from four long-term board members this week. He said the club’s $500,000 overdraft to Bendigo Bank will be paid back by July.
Julie Foster, vice-president, and Lyn Saunders, secretary-treasurer, were also appointed.
“By the next AGM I’m sure we will have a very positive future for all timeshare owners,” Mr Grey said.
Classic Holidays will take over the resort’s management from April 1 this year and its tavern would be leased out. Other assets, including some apartments and land, would be sold.
Classic Holidays is the largest privately owned timeshare resort management company in Australia and New Zealand.
Hundreds of timeshare owners in Shearwater Resort voted against paying a $950 levy to solve the resort’s cash flow problems in Launceston on Saturday.
The resort is owned by 2100 timeshare holders.
Mr Grey, said support for the levy was around 35 per cent.
Control the timeshare, that still remains within the ownership of the members.
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