The owners of the Coral Beach Club have written to all members assuring them it is business as usual.

However, the letter does say that they have been in discussion with ‘respected developers and operators’.

The letter was sent on March 26 to members of the exclusive resort by owner George Wardman, who acknowledged that “rumours are flying” regarding its future. In the letter, sent to The Royal Gazette, he stated: “We are, like any prudent business, looking ahead and seeking a strategy that will assure the future of the Club. To this end we have been in discussions, and I stress that word, with a partnership of respected developers and operators.”

He said that all parties involved in the discussions were committed to the Club continuing and all current members would retain their current rights and privileges at no additional fee.

He added that 60 years as a “modern” Club had taken its toll and the property could do with a “tasteful enhancement” but said that the aim would be to preserve the “natural beauty” of the resort including its cliffs, beach, flora and fauna. In the letter he added: “We have committed to nothing at this moment and I promise to keep you informed of the details as our talks progress. “In the meantime I hope that we have your faith and trust in our judgement to improve your future experiences at the Coral Beach Club.”

In December Mr. Wardman refuted rumours that his family was considering selling the Club and said they were looking into options to modernise the facilities. In November, Planning applications were filed to build ten new cottages at Coral Beach and eight at Horizons, also owned by the Wardmans. Mr. Wardman said the new accommodation was earmarked for fractional ownership.

Fractional ownership allows people to buy a share in a holiday home. The arrangements usually divide the ownership into fourths, eighths, or 13ths, with each owner having an equal number of days a year to use the unit. In many schemes fractional owners can rent out the accommodation if they choose not to spend all their allotted time in it.

Yesterday, a spokeswoman for the Wardman’s said they were currently off the Island and unable to comment on the letter.