INTERVAL INTERNATIONAL SIGNS MASTER AFFILIATION AGREEMENT WITH FESTIVA RESORTS
Miami, FL, July 1, 2005 — Interval International and Festiva Resorts announced that they have entered into a long-term master affiliation agreement, which includes all existing and future properties in the United States. With a combined total of more than 100 years of experience in the hospitality and timeshare industry, the Festiva senior management team, under the leadership of Donald Clayton, Herbert "Butch" Patrick and Richard Hartnett, has developed the Festiva Resorts brand with the goal of delivering superior vacation experiences.
Festiva's focus is to provide owners with access to a high-quality network of boutique resorts, such as Ellington at Wachesaw Plantation in Murrells Inlet, South Carolina; The Church Street Inn in Charleston, South Carolina; and The Cabins at Green Mountain in Branson, Missouri.
"We have had a long, positive relationship with the principals of Festiva Resorts, and we are delighted to expand the existing business relationship between our companies," said Craig M. Nash, chairman and chief executive officer of Interval International. "Don, Butch and Rich represent one of the most seasoned teams in our business today, and we look forward to playing an integral role in supporting the company's growth in the years ahead."
"Our experience with Interval has proven the organization to be focused and committed to working in partnership with their resort affiliates," Clayton said. "As an independent brand, we feel a partnership with Interval will play a pivotal role in reaching our goal of becoming an international leader in the hospitality and timeshare industry."
"We are very grateful to Craig Nash and everyone on the Interval team and consider them to be an extremely valuable resource," Patrick said. "Entering into this agreement represents a logical extension of what is already a great business alliance."
About Interval International
Since 1976, Interval International has led the vacation ownership industry with its hallmarks of quality and innovation. Interval has a global network of more than 2,000 resorts in 75 countries, and serves its developer clients and more than 1.7 million members - worldwide timeshare vacation owners - through 27 offices in 18 countries. Interval provides a variety of exchange services and year-round travel related benefits to enhance member vacation experiences. Headquartered in Miami, Florida, Interval International is part of IAC, which operates leading and diversified businesses in sectors being transformed by the Internet, online and offline. Other IAC companies include Ticketmaster, HSN, Lending Tree, Citysearch and Entertainment Publications.
About Festiva Resorts
Over the past several years, the Festiva family has grown to include resorts in some of the most sought-after vacation destinations in the United States and the Caribbean: St. Maarten; St. Lucia; Nassau; British Virgin Islands; Charleston, South Carolina; Myrtle Beach, South Carolina; and Branson, Missouri. With quality boutique resorts in each of these destinations, Festiva's focus is to create the best experience, with the highest level of services for its owners and guests.
