Oakridge Resort has signed new term agreements bringing independently owned apartments back under the hotel's management, although a few individual unit owners continue to hold out from joining.
Oakridge Resort owner The Williams Group has been locked in protracted talks with independent unit owners at the hotel since they bought the resort four months ago.
The Williams Group said this week a term agreement with a "final group" of unit holders had been concluded, which allowed the individually owned units to form part of the resort.
When contacted by the Otago Daily Times, Williams Group director Tony Williams said Oakridge remained in negotiations with five unit owners who have not signed an agreement with the hotel.
It was pleasing to have concluded an agreement with the group of unit owners who had chosen to remain part of the resort, he said.
Mr Williams acknowledged the work done by Cyril Chaplin, a representative of the unit holders who have signed agreements.
Mr Chaplin said he had represented a group of 11 unit owners. They wanted to retain their independence and ability to manage their own units and an "amicable" arrangement had been made.
The term agreement would be renegotiated yearly.
The resort was increasing its market share and presence in the Wanaka tourism market, Mr Chaplin said.
Having the group of unit owners back on board "considerably strengthened" the ability of Oakridge to take large conference bookings and to function to its capacity, Mr Williams said.
Oakridge Resort has about 96 privately owned apartments and another 17 units, which are owned by a corporate entity.
The visitor accommodation complex is a four-and-a-half-star hotel which includes 177 rooms, a restaurant, cafe, conference facilities, heated pools, and a privately-owned gym.
The Oakridge Resort group of companies was placed in receivership last September, owing about $10 million to South Canterbury Finance.
The Williams Group, owner of various South Island hotels, bought the complex in December.
