INTERVAL INTERNATIONAL AFFILIATES THE GRAND LODGE ON PEAK 7
Miami, FL, April 5, 2007 — Interval International, a leading global vacation exchange company and operating business of IAC (Nasdaq: IACI), announced the affiliation of The Grand Lodge on Peak 7 in Breckenridge, Colorado. The resort, being developed by Mike Millisor, Rob Millisor, and Mike Dudick, will feature 114 vacation ownership units and will offer owners coveted ski-in, ski-out access. Construction begins this spring and the first phase is expected to be ready for occupancy by winter 2008.
“The Grand Lodge is reflective of the Millisor’s impressive 20-year industry track record of developing high-quality resorts. It will provide owners and exchange guests a true alpine vacation experience with all the comforts of home," said David C. Gilbert, executive vice president of resort sales and marketing for Interval International. “They will be able to enjoy deluxe accommodations and a full range of first-class amenities and services in a highly demanded ski destination.”
“We are extremely pleased with our long-term business relationship with Interval, which is built on mutual respect,” said Mike Millisor, president, Grand Timber Development Company. “Both of our companies have a reputation for quality and are committed to the future of the vacation ownership industry.”
Each unit will offer well-appointed interiors, elegant furnishings, and outstanding views. Guests at the resort will also be able to enjoy an extensive array of upscale amenities and activities such as an elegant spa, a restaurant, indoor-outdoor pool and hot tubs, a fitness center, a 2,500-square-foot family fun center, underground parking, and more.
“Over the years, Interval has been an outstanding exchange partner for our existing resorts in Breckenridge and we look forward to continuing our relationship with this project,” said Rob Millisor, vice president, Grand Timber Development Company. "Working hand-in-hand with us, Interval has provided our ownership base with complementary programs and services that are truly innovative in the industry.”
The Grand Lodge on Peak 7 will be a part of the new Peak 7 & 8 Village, a 251-acre master-planned ski-in, ski-out community being developed by Vail Resorts Development Company (VRDC). Peak 7 Village will consist of approximately 158 residences, including whole ownership condominiums and vacation ownership units. Grand Timber Development Company acquired the land from VRDC and will bring this high-quality vacation ownership development to market.
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.
