HYATT VACATION OWNERSHIP RENEWS AFFILIATION AGREEMENT WITH INTERVAL INTERNATIONAL
MIAMI, FL, April 8, 2008 – Interval International, a leading provider of vacation services, announced it has renewed its master affiliation with Hyatt Vacation Ownership (HVO). The multi-year agreement extends the relationship first established in 1994 and includes 13 existing resorts, as well as properties developed during the term of the agreement. The HVO collection includes Rocky Mountain ski resorts, Key West beach escapes, and properties in popular vacation destinations such as Sedona, Arizona, and Carmel, California.
HVO is currently building two new Hyatt Residence Club fractional properties. Hyatt Siesta Key Beach, situated on the renowned white-sand Siesta Key Beach in Sarasota, Florida, will feature 44 deeded luxury fractional beachfront residences at a spacious 1,600 to 2,600 square feet. Occupancy is scheduled for spring 2009. Hyatt Northstar Lodge, at Northstar-at-Tahoe ski resort in California, will be a ski-in/ski-out private residence club with two- and three-bedroom condominiums.
“It’s been a privilege partnering with Hyatt since it entered the vacation ownership business with its first resort in Key West,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We’re very proud to be a part of the great success Hyatt has achieved and look forward to working with its team to build on what we’ve already accomplished.”
“We’ve enjoyed a terrific working relationship with Interval for nearly 15 years and we truly value the extensive and high-quality services it provides,” commented John Burlingame, executive vice president of Hyatt Vacation Ownership. “The company has a longstanding commitment to its clients and an unsurpassed network of resorts, which allows us to offer our owners a multitude of vacation experiences around the world.”
HVO utilizes Interval Resort & Financial Services (IRFS), a sister company of Interval International, for program design support and owner services, including reservations and a customized concierge offering. IRFS specializes in working with resort developers to create vacation ownership programs of every configuration, including club products, points-based systems, hybrid programs, split weeks, and floating or fixed weeks. The seamless integration of these services complements Hyatt’s resources and provides convenient, cost-effective solutions for the company and exceptional satisfaction for its owners.
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 over 2,300 resorts in excess of 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 Global Hyatt Corporation
Global Hyatt Corporation, one of the world’s premier hotel companies, offers today’s travelers more than 730 hotels and resorts (more than 140,000 rooms) in more than 45 countries. The company’s affiliates own, operate, manage and franchise Hyatt-branded hotels and resorts under Park Hyatt™, Grand Hyatt™, Hyatt Regency™, Hyatt Resorts™, Hyatt®, Hyatt Place™ and Hyatt Summerfield Suites® brands, as well as the company’s newest global luxury brand, Andaz™, which recently opened its first property in London. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc., operator of Hyatt Vacation Club and fractional residential properties, and U.S. Franchise Systems, Inc, which franchises Hawthorn Suites and Microtel Inns and Suites.
