Worldwide Timeshare today announced the completion of a management buy-out from its parent company, Worldwide Leisure Group. The move, which was finalised earlier this month, means that the company is now 100% owned and controlled by its current management team.
The buy-out includes Europe’s largest timeshare resale company, WorldwideTimeshare Hypermarket, and the rapidly expanding Worldwide Timeshare Exchange, both of which will continue to be run as separate entities.
"With our newly found independence, we look forward to accelerating the growth of the two companies and strengthening each company’s position as market leaders" said Managing Director Phil Watson.
Phil Watson has successfully led the company over the past decade and even with the current economic challenges facing the travel and leisure industry,
has an extremely positive outlook. "We have already seized the opportunity to take on new premises and have begun plans to roll-out a new range of
holiday products for our existing customers and to open up new markets."