60k timeshare owners claim stake in Airlie Beach apartments
THE world's largest vacation ownership and exchange company has snapped up a majority freehold share in a 105-room Airlie Beach resort.
Wyndham Destinations Asia Pacific Whitsunday property will service more than 60,000 of its timeshare owners.
The company will take control of 59 strata apartments, with the rest held in private ownership.
Wyndham Vacations Club president and managing director Barry Robinson, said the property, previously called Peppers Airlie Beach, would be rebranded Club Wyndham Airlie Beach Whitsundays.
Boasting a magnificent location overlooking the Whitsunday Passage, the property features an open-air restaurant and bar, infinity pool and spa, gym, conference facilities and undercover parking.
CBRE Hotels broker Wayne Bunz said this was an iconic asset to the company's portfolio.
"The region's accommodation market (is) witnessing a strong resurgence off the back of a growth in rate and occupancy, and with over $200 million committed for new and improved infrastructure across the Whitsunday region, which will certainly cater for the region's next growth boom," he said.
Mr Robinson said he was excited to have secured the property on the beautiful Whitsunday Coast.
"A gateway to the spectacular Whitsunday Islands, Airlie Beach is a vibrant tropical destination popular with travellers from all over the world and is somewhere our timeshare owners have been asking us to enter for some time," he said.
"We are excited to secure this deal as we are committed to growing our presence in regional Australia, and this acquisition is in line with that strategic intent.
"We look forward to sharing this beautiful location with our Club Wyndham timeshare owners and guests, who will love the stunning scenery, excellent facilities and personalised and memorable experiences that will be offered at Club Wyndham Airlie Beach."
As part of the acquisition, Wyndham Destinations Asia Pacific will also own and operate the on-site food and beverage and conferencing facilities.