The Eden Leisure Group has signed a deal with one of the largest timeshare companies in the world, Sunterra Corporation, for the sale of its timeshare business in St George's Bay.

Sunterra has in turn appointed Eden Leisure Group to manage the day-to-day operation of the resort for the coming years.

Situated within the InterContinental Malta, the Group's timeshare interest, the Eden Bay Resort, was built in 2003 and includes 46 self-catering apartments of various sizes.

The resort offers a unique mix of self-catering and hotel style luxury and comforts. Eden's managing directory, Ian De Cesare, said: "The timeshare industry is a peculiar business. Although we have been in the hotel business since 1967, we are not timeshare operators.

"Unlike us, Sunterra is a large holiday ownership company which brings significant know-how and expertise to the island, not to mention the possibility of attracting significant tourism, increasing the expected occupancy of a resort of this type.

"Due to its size Sunterra does not use traditional marketing techniques such as OPCs, which have been the source of much debate in recent weeks. We are looking forward to a long and prosperous partnership," he added.