INTERVAL INTERNATIONAL AND DIAMOND RESORTS INTERNATIONAL® SIGN EXCLUSIVE, LONG-TERM GLOBAL AFFILIATION AGREEMENT
Interval to Provide Full Range of Exchange, Travel, and Reservation Services
MIAMI, FL, April 7, 2008 - Interval International and Diamond Resorts International® announced they have entered into a long-term master affiliation agreement comprising more than 110 existing resorts worldwide, as well as any properties developed during the term of the agreement.
In addition to the affiliation, Diamond Resorts International® has selected Interval Resort & Financial Services to provide a comprehensive package of customized programs, including back-office points-based reservation and travel service at THE ClubSM, the points-based, flexible vacation exchange network at Diamond Resorts International®.
“We’re extremely pleased to expand our relationship with Diamond Resorts International because our companies share a commitment to quality and outstanding service,” noted Craig M. Nash, chairman and chief executive officer of Interval International. “With its vision for growth and enhancing the value of vacation ownership in new markets, we’re prepared to support Diamond’s efforts in achieving even greater success.”
“Interval International has been and will continue to be a great partner for us. My family’s companies have been associated with Interval for more than two decades,” said Stephen J. Cloobeck, chairman and chief executive officer of Diamond Resorts International®. “We’re so confident in Interval’s commitment to deliver great service to our owners that we’re leveraging its global infrastructure to handle a significant portion of our reservation services.”
Interval’s relationship with the Cloobeck family began with the affiliation of The Jockey Club in Las Vegas in 1984 and continued with the Polo Towers Resort, the first purpose-built vacation ownership project on the Las Vegas Strip. After completing the acquisition of Sunterra Corporation last spring, Cloobeck converted it from a public company, folded it into his existing company structure, and created Diamond Resorts International®.
Further reinforcing the value of ownership, all members of THE ClubSM at Diamond Resorts International® will be enrolled as individual members of Interval International, as well as Interval Gold®, its premier membership program. This gives them the opportunity to exchange their accommodations for those at other resorts in Interval’s worldwide network, as well as the ability to relinquish their resort weeks toward the purchase of cruise, golf, and spa vacations. They also will enjoy an extensive menu
of benefits, including discounts on resort Getaways, access to a personal concierge service available 24 hours a day via phone and e-mail, complimentary Hertz #1 Gold® membership, and worldwide hotel and dining discounts.
About Interval International
Interval International is a leading provider of exchange, travel, and leisure services to resort developers and vacationers 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 more than 2,300 resorts in over 75 countries and offers its clients and nearly 2 million member families high-quality products and programs through its 28 offices in 17 countries. Interval is part of IAC, which owns and operates more than 60 diversified brands in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, HSN, LendingTree, Match.com, and Ticketmaster.
About Diamond Resorts International®
Diamond Resorts International®, based in Las Vegas, Nevada, is one of the largest vacation ownership companies in the world with more than 110 branded and affiliated resorts in 14 countries with destinations throughout the continental United States and Hawaii, Canada, Mexico, the Caribbean, and Europe. Offering simplicity, choice, and comfort to its more than 360,000 owners and members through the branded service of more than 5,000 team members worldwide, Diamond Resorts International® is dedicated to providing its guests with effortless and relaxing vacation experiences every time, for a lifetime.
