PORTO VACATION CLUB WITH THREE RESORTS IN EGYPT SELECTS INTERVAL INTERNATIONAL
LONDON, 3 February, 2010 – Interval International, a leading global provider of vacation services and an operating segment of Interval Leisure Group (Nasdaq: IILG), is proud to welcome Porto Vacation Club to its exchange network. The vacation club initially will consist of units at Porto Marina, an exclusive, multi-use resort on Egypt’s Mediterranean coast, with two additional resorts, Golf Porto Marina and Porto Sokhna, to follow.
Porto Vacation Club is the latest venture of the Amer Group, a leader in Egypt’s tourism, entertainment, and real estate industries for more than 20 years. One of its signature achievements is the creation of the “Porto World” concept that has evolved into a brand synonymous with gracious family lifestyle experiences and is evident in all aspects of its newly launched vacation club.
"The Amer Group is committed to showcasing Egypt’s global appeal, while pursuing excellence in all its endeavours,” noted Craig M Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of Interval International. “We look forward to working with the well-respected Amer family as they enter the shared ownership industry with these outstanding resorts."
“We are very pleased with the opportunities offered by our move into vacation ownership,” said Mansour Amer, chairman of the Amer Group. “Our emphasis on quality, which mirrors that of Interval International, is one of the primary reasons we selected their company to be our strategic partner.”
The Porto Marina complex is built on a truly grand scale featuring a broad, palm-lined promenade with 180 designer shops, 11 restaurants and al fresco cafes, and ending with a stunning white-sand beach. The mixed-use property has a total of 1,200 one- and two-bedroom apartments, and includes a 378-room luxury hotel with stunning views of the Mediterranean. Located in El Alamein, it is easily accessed by road from Cairo and Alexandria.
Porto Marina’s state-of-the-art 1,200-berth marina can accommodate crafts up to 100 metres in length and was the site of the 2007 World Powerboat Championship. Its spa is one of the largest and best-equipped wellness centres in the country, offering a range of therapies and treatments. Other resort amenities include five pools (four outdoor and one indoor) with water jets, slides and waterfalls, and activities ranging from tennis to parasailing. The Grand Canal (with gondolas) and Piazza de Espana, where plays and concerts are staged in a setting reminiscent of Rome’s Spanish Steps, give Porto Marina an international ambience.
Later this year, Golf Porto Marina will be added to the vacation club. Only five minutes from Porto Marina and also located on the Mediterranean, the resort will bring the first 18-hole championship golf course to the coast, along with Olympic City, a training facility for sports professionals. The mixed-use property covers 370 acres (150 hectares) and includes 5,100 apartments offering concierge and housekeeping services, as well as around-the-clock room service. In addition, the resort will ultimately have a luxury hotel, mega-mall with 200 shops, 12 restaurants, and a water park with Las Vegas-style dancing fountain.
Porto Sokhna, which overlooks the Red Sea, will add another range of two-bedroom apartments at the Group’s third mixed-use resort next year. Following Amer’s successful blueprint, this complex is being designed to blend 1,600 apartments housed in a pyramid-style building into a resort setting. Facilities are planned to include a 42-unit suite hotel, 18-hole championship golf course, spa, and mall with 150 shops. One of the 12 on-site restaurants—accessible only by cable car—will feature stunning views from an 886-foot (270 metre) mountaintop.
Ultimately, plans call for at least 200 units at each of the three resorts to participate in the vacation club programme, the majority of which will be two-bedroom units. Interval will provide exchange and membership services to members of the vacation club, as well as to full-time member residents owning whole units at the three Porto Vacation Club resorts who participate in the rental programme. This will include Interval Gold®, Interval’s upgraded membership tier with enhanced benefits.
“To have Porto Vacation Club affiliated with us is the first step in what we know will be a long-term relationship,” added David Clifton, managing director of Europe, Middle East, Africa, and Asia for Interval International. “We are excited about the Amer Group’s vision for ‘Creating Lifestyle Landmarks’ with world-class facilities for holidaymakers of all ages. Its flagship resort, Porto Marina, is already a favourite international gathering spot.”
About Interval International
Interval International operates membership programmes for vacation owners and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 33 years. Today, Interval has an exchange network of more than 2,500 resorts in over 75 countries and offers its resort clients and approximately 2 million member families high-quality products and programmes through offices in 26 cities in 16 countries. Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.
About The Amer Group
For over 20 years, the Amer Group has been leading the way in developing innovative entertainment and vacation gateways. Their vision is to create landmark destinations that put Egyptian resorts on the global tourist map, and create new job opportunities in the process. Among Amer’s many achievements is the creation of the successful “Porto World” concept that has evolved into a brand that they plan to grow both locally and regionally. In the entertainment sector, Amer launched the first full-service casual dining establishment in the Middle East in 1993 with the opening of the Chili’s chain. This has since been developed with successful franchises throughout the region.
