Accor Buys Margaret River Timeshare Property

Accor has expanded its presence in the timeshare 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.