Holiday Club aims for continuous growth

Today we celebrate the grand opening of Holiday Club Saimaa, the largest travel business venture in the Nordic Countries. The opening festivities also commemorate Holiday Club’s 25^th anniversary. The company that has built its operations with a long-term view is now the largest timeshare company in Europe. Holiday Club has also achieved excellent results: during the financial year 2010–2011, the group recorded a turnover of €93.4 million, while profit before taxes stood at €9.8 million. The total investments for the financial period amounted to €44.2 million. The Group employed an average of 588 people.

“During the past operating period, we made a number of significant investments. We acquired the operations of five spa hotels in Finland, five timeshare locations in the Canaries, reorganised our spa hotel arrangement in Åre, Sweden, and constructed holiday homes all over Finland.  One of our greatest sources of pride is Holiday Club Saimaa, which officially opens today. These investments are a part of our growth strategy, in which Holiday Club is the leading weekly timeshare company in Europe and the leading Nordic operator in the fields of holiday housing and tourism. We aim to continue our growth in both the domestic and international market”, says Vesa Tengman, Managing Director of Holiday Club Resorts Oy.

Over the coming five years, the company intends to invest in the Saariselkä, Ylläs, Kuusamo, Katinkulta and Saimaa resorts by constructing Villas holiday homes and timeshare flats in these locations. Renovations of the Katinkulta Restaurant World, the Seniori-Saimaa project and share arrangements for the Katinkulta, Kuusamo and Himos golf courses are also underway. Foreign resorts are also undergoing renovations and expansion, and new locations are being sought in order to enable operational growth. The five-year target is to have from eight to ten spa hotels in operation and to implement extensive operational expansion in the Nordic Countries and Southern Europe.

More information:  Managing Director Vesa Tengman, tel. + 358 500 421 515,

The Holiday Club Saimaa Spa Hotel project is the largest of its type in the Nordic countries, and is very significant to the economy of Southern Karelia. The construction of the spa hotel will generate 300 man-years of work, and the hotel will permanently employ 250 people. According to plans, the area will have 8,000 beds by 2020. By this time, approximately €200 million will have been invested in the area. A total of 10 million people are within a few hours’ of the spa, in the major Finnish, Russian and Baltic cities. The resort is designed for families as well as for Finnish and international business travellers.

Holiday Club Resorts Oy is the leading weekly timeshare company in Europe and a significant operator in the fields of holiday housing and tourism. The company is owned by the acting management, Varma Mutual Pension Insurance Company, Finnish Industry Investment Ltd and a group of Finnish private investors. Holiday Club Resorts Oy has 32 resorts and 1,300 holiday homes. Seven of the resorts feature not only holiday homes but also a spa hotel. Three resorts – Åre in Sweden, Calahonda and Gran Canaria in Spain – are located outside Finland. In addition to the Holiday Club Saimaa built in Rauha, Lappeenranta, Holiday Club has recently acquired a spa hotel at Ylläs. Holiday Club Ylläs Saaga will open for business on 1 December 2011. During the financial year 2010–2011, the group recorded a turnover of €93.5 million and employed approximately 588 people.