INTERVAL INTERNATIONAL TO LAUNCH SHORT–TERM VACATION PROGRAM
Miami, FL, March 30, 2009 – Interval International, a leading global provider of vacation services, today announced that its travel subsidiary, Worldwide Vacation & Travel, Inc., plans to develop a short-term vacation program that will offer resort developer clients a more affordable product for consumers in today’s changing marketplace.
“The shared ownership industry is facing unprecedented challenges in large part because of the lack of liquidity in the financial markets. Developers are finding themselves in need of a less expensive product and Interval’s short-term vacation program will augment their traditional sales opportunities,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, the parent company of Interval International.
This new product can be utilized as an enhanced multi-year form of trial ownership that may include accommodations at the home resort and other properties and the ability to exchange through Interval’s worldwide network. In addition, the program will feature access to specially priced resort rentals and comprehensive year-round travel, leisure, and lifestyle benefits.
“We’ve provided value-added membership enhancements to trial ownership programs since 1991. By leveraging our expertise, we will be able to give clients an option that’s very appealing in this economic environment. At the same time, they can create a built-in clientele for their standard offering when market conditions improve,” added David Gilbert, executive vice president of resort sales and marketing for Interval International.
Interval also plans to make available a stand-alone version of the program without developer accommodations.
Interval International operates membership programs 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 30 years. Today, Interval has a network of over 2,400 resorts in excess of 75 countries and offers its resort clients and nearly 2 million member families high-quality products and programs through 25 offices 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.
