Sunterra Corporation (Nasdaq: SNRR) announced the purchase of the majority
of the assets of UK-based Thurnham Leisure Group.
Following the appointment of an Administrative Receiver over Thurnham
Leisure Group, Sunterra Europe purchased the common areas and assets of
Thurnham Leisure Group`s Thurnham Hall, Cromer Country Club and Club
Britannia for approximately 2 million pounds.
Nicholas Benson, Sunterra`s CEO, commented, “This acquisition benefits
Sunterra Corporation, our Club Sunterra members and all of the Thurnham
Vacation Club members. With 149 timeshare units, approximately 6,000
active members and 1,600 unsold weeks, this represents a significant boost
to our UK resort portfolio. We are familiar with the Thurnham Leisure
Group who have been our neighbours in Lancashire for some years and we
believe this transaction is undoubtedly the best outcome for all of their
members and staff in the present circumstances.
“We are now in a position to welcome the Thurnham Vacation Club members
and Thurnham Leisure Group employees into the Sunterra family. We have
developed, and will implement, a detailed plan to ensure the seamless
integration of the Thurnham Leisure Group assets into the existing
Sunterra will brand the properties as Sunterra resorts and transition
customer service, reservations and systems into Sunterra`s head office
operation in Lancaster.
Sunterra Corporation is one of the world`s largest vacation ownership
companies, with vacation owner families and resort locations in the
continental United States, Europe, the Caribbean, Hawaii and Mexico.