Golden Sands timeshare resort contained within Radisson Blu Golden Sands and Spar and operated by Azure Services Ltd has now succumbed to the storm of orbital litigation on account of their misselling of timeshares and Associated finance contacts.
From the evidence provided one can be forgiven for postulating that the litigation flows from a misselling scandal and the cost to Azures is expected to top £44,000,000 as the banks may have a subrogation rights to offset the damages they are forced to pay and back to the resort developer.
Azure Resorts Ltd still remains a member of the Resort Development Organisation [RDO] as Developer member. They claim Azure is a leading European specialist in the vacation ownership industry, have over ten years of experience in Malta and have developed a unique range of innovative lifestyle products.
The RDO further claims, this has enabled thousands of holidaymakers to realise their dreams year after year. That said, the sales decks are closing marketing timeshare has ceased and the chance of a resale from the resort is very unlikely.
A s the resort is now closing a loss of 80 jobs is expected and rights acquired may become frustrated so many, are likely to become disgruntled. That upset is on account of clients paying £10,000s for the timeshare, they can now no long resell at the resort.
Azure’s has over 5,500 members and all are homed in the Island Residency Club, Azure Vacation Club, Azure Club X Golden Sands, Heavenly collection all of which are house in the Radisson Blu Golden Sands and Spar.
The RDO explains the Azure timeshare developer has always remained industry-compliant across all of its operations, however, the lawyers think otherwise.
The developer now claims to have a new ‘Elite team’ who will take forward a ‘new strategy’ so ‘Timeshare and Holiday Clubs will no longer be sold at the Resort.
Employees at Azure Services Ltd, (the company that handles timeshare sales and marketing for the resort), we’re told in an email that “the majority” of staff would be made redundant to make way for this “elite team” which tends to suggest that the old team were not elite.
At one debunking point, the public was told the resort was linked former Manchester United players Gary Neville and Ryan Giggs, who invested in Island Hotels Group, (the company that formerly managed the hotel).
History explains, that in 2015, the Corinthia Group assumed a 50 per cent share of Azure, as part of their takeover of the Island Hotels Group. The remaining 50 per cent is owned by a group consisting of international investors.
In an email sent to its employees on Monday, the company said it would no longer sell timeshare or holiday clubs but would instead focus on servicing its thousands of existing timeshare members.
“Azure has grown its members’ base at Golden Sands since its launch in 2003,” it said. however, that growth (in part) was assisted by the misselling of loans and finance contracts
“The remaining developer stock available for sale no longer permits this strategy to be pursued. Accordingly, during 2020, Azure will be changing its focus toward servicing the existing members’ base.
“Inevitably, in consequence of this new strategy going, the majority of the sales and marketing teams will be made redundant to make a place for a new elite team of ‘marketing and sales staff’ selected to promote and take forward the new strategy. This is confusing to most because if the sales and marketing teams are no longer selling timeshares what are the now going to sell. As an elite team requires one might believe that it is another ‘hard to sell’ product as it needs a crack team to sell it
A spokesman for the Golden Sands Resort and Azure Services Limited said the timeshare sales operation had “over the years successfully sold the lion’s share of its timeshare allocation” at the hotel. “As a consequence of this hard sell the owners have for some time now been planning a strategic restructuring of the business, away from the sales of timeshare products and services, focusing more on traditional tourism at the resort.”
The spokesman said both sets of shareholders remained committed to the future of the resort as a “high-end luxury destination.” The shareholders have also affirmed that Azure and the Golden Sands Resort would fully honour all the timeshare commitments arising from obligations that were entered into with existing members.
Thousands of people – largely from Malta, Britain and Sweden – have entered into contracts of up to 25 years that allow them to holiday at the hotel for one- or two-week periods of time a year.
More recently, the company had diversified into selling membership of a points-based holiday club, called Azure X, that allows members access to motor yachts supercars and other hotels, including those owned by the Corinthia Group.
It is understood that, at one stage, there were plans to sell timeshare at a tourism village planned for Ħal Ferħ in Għajn Tuffieħa.
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Posted on: 12th December 2019