DISNEY VACATION DEVELOPMENT, INC. RENEWS AFFILIATION AGREEMENT WITH INTERVAL INTERNATIONAL
Miami, Florida – March 30, 2007 – Disney Vacation Development, Inc. — owner of Disney’s vacation ownership program, Disney Vacation Club — has renewed its affiliation agreement with Interval International, a leading global vacation exchange company and operating business of IAC (Nasdaq:IACI). The agreement extends the relationship first established in 1995 and includes existing resorts and future development.
Disney Vacation Club recently unveiled plans for its eighth resort — Disney’s Animal Kingdom Villas, which will be located at Disney's Animal Kingdom Lodge. Development of the new project is scheduled in phases, with units to begin opening this fall.
“We are thrilled that Disney Vacation Club again has selected Interval as the exchange provider for its program and are proud to offer our members the chance to experience Disney’s one-of-a kind product as part of our resort network,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We congratulate them on their fifteenth anniversary in vacation ownership. The company’s tremendous growth and success is a real tribute to the quality and unique appeal of its resorts.”
“Renewing our affiliation with Interval is smart business because it adds flexibility to our members’ vacation ownership purchase,” commented Jim Lewis, president of Disney Vacation Development. “We look forward to continuing to provide our members the benefit of exchanging into Interval’s network of quality resorts in destination markets around the world.”
About Interval International
For more than 30 years, Interval International has led the vacation ownership industry with its commitment to providing quality exchange services and other value-added programs to its vacation-owning members and resort developers worldwide. Based in Miami, Florida, Interval has a network of more than 2,200 resorts in 79 countries and serves its clients and nearly 1.9 million members through 28 offices in 19 countries. Interval is part of IAC, which operates leading and diversified businesses in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, Citysearch, Entertainment Publications, HSN, LendingTree, and Ticketmaster.
About Disney Vacation Club
Disney Vacation Club, now celebrating its milestone 15th anniversary, is an innovative time-share program that lets families enjoy flexibility and savings on future vacations at Disney Vacation Club resorts and more than 500 other popular vacation sites around the world. Since 2000, Disney Vacation Club membership has doubled to include more than 300,000 individuals from more than 100 countries and every U.S. state.
Disney's Animal Kingdom Villas will be the eighth Disney Vacation Club Resort, joining five others at the Walt Disney World Resort, one in Vero Beach, Fla., and one in Hilton Head Island, S.C. Disney Vacation Club has sold out of memberships at its first six resorts, and sales remain ahead of schedule at its seventh property, Disney's Saratoga Springs Resort & Spa, which opened in May 2004 near the Downtown Disney® Area at the Walt Disney World® Resort.
