INTERVAL INTERNATIONAL RENEWS STRATEGIC ALLIANCE WITH CARIBBEAN HOTEL ASSOCIATION
Miami, Florida, June 26, 2007 – Interval International, a leading provider of vacation services and an operating business of IAC (Nasdaq:IACI), has renewed its strategic alliance agreement with the Caribbean Hotel Association (CHA). This multi-year agreement extends a partnership first established in 2000 and reinforces Interval’s support of the hotel association’s initiatives and objectives.
“We are proud to extend this relationship that enables us to contribute to tourism development and assist hoteliers in identifying potential opportunities for vacation ownership in the Caribbean,” said David Gilbert, executive vice president of resort sales and marketing for Interval International. “We look forward to working with CHA and its members to collaborate on issues that promote the growth of this region that is so critically important to our industry.”
“CHA is very pleased with the success and results of our long-standing partnership with Interval and the significant financial endowment and resources that the company has provided to our organization,” said Peter Odle, president of CHA. “Interval is a global leader in vacation ownership, which has proven its dedication to fostering the growth of Caribbean tourism.”
As in the past, Interval will play a leadership role in the Caribbean Hotel and Tourism Conference, the Caribbean Hotel & Tourism Investment Conference, and the CHA Marketplace Conference. Interval also will invest in the education of Caribbean nationals furthering their education in the hospitality industry by donating $15,000 a year to the CHA Education Foundation.
“Interval’s ongoing commitment to the education of our Caribbean students is most appreciated because the company recognizes the need to invest in human resources and help the youth of our region grow and reach their full potential,” said Alec Sanguinetti, director general and chief executive officer of CHA.
According to Interval’s 2006 U.S. Membership Profile released earlier this year, the Caribbean is the top international destination to which its members plan to travel in
the next two years. Additionally, Interval’s Future Timeshare Buyers: 2006 Market Profile, the latest in a series of studies that offers unique insights into the vacation habits, preferences, and intentions of leisure travelers who are interested in owning vacation time, revealed that the Caribbean is one of the top international destinations of choice for prospective timeshare owners.
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.
