Accor buys Margaret River time-share property

SETTING THE AGENDA FOR TRAVEL

News

Salary and Job Satisfaction Survey

Travel Pursuit

Australian Travel Awards

Jobs

Links

Gallery

News

20/04/2005

Accor buys Margaret River time-share property

Accor has expanded its presence in the time-share apartment market in Australia with the acquisition of Basildene Manor in Western Australia’s Margaret River region.

Accor’s Première Vacation Club (APVC) bought the National Trust and Heritage Council-classified building for $4.5 million.

The company will spend the same amount again on extensions to the property.

APVC is a joint venture between Accor Asia Pacific and property developer Becton Corporation.

The company was founded in 2000 and now has more than 8,000 members.

The purchase of Basildene Manor was part of a major expansion program that has seen APVC invest in tourism accommodation in Palm Cove, Sunshine Coast, Gold Coast, Coffs Harbour, Sydney, Snowy Mountains and New Zealand.

Future development plans involve the Hunter Valley, Swan Valley, South Australia, Fiji, and the north island of New Zealand.

APVC claimed that it planned to launch Asian operations during 2006 and expected to acquire or develop properties in such locations as Bali, Malaysia and Thailand during the next few years.

The company claimed membership had grown 86 per cent since the beginning of 2004.

Basildene Manor has 17 suites as well as a main hall, lobby, cellar lounge, terraces, reading room, conservatory, pool, sun deck, tennis court, and a lakeside pergola.

20 April 2005

More News

Environmentalists kill hotel development (12-May-2006)
Environmentalists in Spain have won a major victory in their battle to control tourism development, with the southern region of Andalusia agreeing to demolish a 20-storey hotel constructed on fast-disappearing natural parkland. more

German hotel charges by the kg (12-May-2006)
A German hotel owner has defended his practice of charging guests according to how much they weigh. more

Dr Who battles daleks in the streets of Cardiff (8-May-2006)
A Welsh hotel has organised a pilgrimage around Cardiff for fans of the Dr Who television series. more

Dubai to build world's largest hotel (2-May-2006)
Dubai has unveiled plans to build the world's largest hotel as part of a USD27 billion tourism project. more

EasyHotels planned for India (1-May-2006)
EasyJet founder Stelios Haji-Ioannou has unveiled plans to introduce his easyHotel franchise in India. more

Fairmont and Raffles hotels in merger deal (20-Apr-2006)
Shareholders of Canada’s Fairmont Hotels & Resorts have approved a $US3.9 billion takeover bid by Saudi Prince Alwaleed bin Talal, the world’s fifth richest man, and Colony Capital. more

$1 billion Red Rock resort opens in Las Vegas (19-Apr-2006)
Las Vegas has upped the ante with the opening this week of its first $1 billion property off the strip, the luxury Red Rock Casino resort and spa. more

Accor moves into Mackay (13-Apr-2006)
Accor has announced it will be opening a new property in Mackay – Grand Mercure Suites. more

Touraust enters joint venture (10-Apr-2006)
Touraust Corporation has announced a joint venture agreement with Australian Residential Property Trust (ARPT) to build and operate a series of new hotels, the first due to open in Newcastle in April 2007. more

Investors buy Le Grand in Vanuatu (4-Apr-2006)
The four-star Le Grand Hotel and Casino on the Port Vila waterfront in Vanuatu has been acquired by investors in Iririki Island Resorts and Spa. more