Accor Premiere Vacation Club (APVC), the Australian joint-venture holiday ownership company, has broadened its acquisition trail from Australia to New Zealand, with the signing of an agreement to…
Accor Premiere Vacation Club (APVC), the Australian joint-venture holiday ownership company, has broadened its acquisition trail from Australia to New Zealand, with the signing of an agreement to buy for a non-disclosed amount, but in excess of NZ$10 million, the renowned Resort – The Grand Mercure Puka Park, situated on the Coromandel Coast.
The property was purchased from Puka Park Resort Ltd, (a wholly owned subsidiary of Tainui Group Holdings Limited, and ownership will take effect June 1, 2006 with bookings for APVC Members to commence immediately.
The purchase is the eighth APVC owned Grand Mercure, and is indicative of the 4.5 star level of comfort and convenient locations in Australia and New Zealand expected, and offered to its 15,000 strong Membership.
The destination is seen as ideal for New Zealand Members for weekend indulgent getaways, and for short haul Australian Members, maximising air capacity between major ports in Australia and New Zealand.
The Grand Mercure Puka Park joins other NZ properties owned by APVC at St Moritz in Queenstown, and in Australia, Grand Mercure Basildene Manor (Margaret River), Mercure Grand Hotel Melbourne, Mercure Grand Forest Villas (near Daylesfod Vic), and at the newly opened Grand Mercure Vintage Golf Resort in the Hunter Valley.
“New Zealand is seen as a priority for expansion for APVC, before Asia and the Pacific – offering Members an overseas destination in a clean, green and safe environment,” according to Marty Kandel, CEO for APVC.
“Holiday ownership is a growing trend in Australia and New Zealand, and APVC is leading the way, and now the industry is tightly regulated, it offers a great secure opportunity to invest in a holiday product that offers value and flexibility.”
“With record growth in 2005, and predictions for 2006 looking stronger again, we can expect to increase our investments on behalf of our members, therefore offering them more choices and destinations,” Marty continues.