INTERVAL INTERNATIONAL AND WELK RESORT GROUP SIGN MASTER AFFILIATION AGREEMENT
Vacation Exchange Leader Adds Five Star Properties to its Global Network
Miami, Florida, August 26, 2004 – Interval International and the Welk Resort Group today announced that they have entered into a master affiliation agreement for existing and future phases of Welk’s Escondido, California-based resorts, as well as for Lawrence Welk’s Desert Oasis in Cathedral City, California.
Rated as one of the “10 Great Places To Gather The Family For A Reunion” byUSA Today , the Lawrence Welk Resort located in Escondido is a 600-acre resort complex that has 366 one- and two-bedroom units, each with a view of one of the golf courses and surrounding mountains. The properties feature a vast array of amenities, including two 18-hole golf courses, multiple swimming pools and spas, tennis courts, distinctive dining at Mr. W’s restaurant, and live theater with celebrity headliners. Additionally, a new state-of-the-art recreation complex recently opened and offers owners and guests two outdoor heated swimming pools, 140 foot waterslide, splash pad, clubhouse, and children’s playground.
Lawrence Welk’s Desert Oasis has 162 luxurious one-bedroom villas in Cathedral City, located adjacent to Palm Springs. Each unit is beautifully appointed and has complete kitchen facilities, along with either garden or poolside views. Owners have access to fitness facilities, concierge and business services, and the adjacent Cathedral Canyon golf and tennis facility.
Villas on the Greens, Lawrence Welk Resort Villas, and Lawrence Welk’s Desert Oasis were also awarded the coveted Interval International Five Star Award, the industry’s f irst quality recognition program, which was launched in 1982 .
“The Welk Resorts are exceptional in every aspect – the deluxe units, range of amenities and highly desirable locations,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We are proud to serve as the exchange company of choice for this well-established leader in our industry.”
“The quality of the network and the exchange opportunities offered by Interval International, combined with the high level of owner service, made the choice to expand our relationship with them the obvious one,” said Jon Fredricks, president of the Welk Resort Group. “We place great importance on tradition and consistency in the Welk organization, values that Craig and his management team at Interval share.”
New purchasers at Welk Resorts become members of Interval Gold – the industry’s first and foremost value-added, membership upgrade program. This entitles them to enjoy an extensive array of discounts and services, including worldwide hotel and dining discounts, provided by best-in-class hospitality and travel industry vendors. Interval Gold members have the opportunity to exchange their accommodations for those at other resorts in Interval’s worldwide network, as well as the ability to relinquish their resort weeks toward the purchase of cruise, golf and spa vacations. Members also receive quarterly travel magazines and newsletters, printed and electronic international resort directories, and a host of other privileges.
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 over 1.6 million members – worldwide timeshare vacation owners – through 26 offices in 17 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 an operating business of IAC, which also includes such well-known brands as Expedia, Inc., Hotels.com, and Ticketmaster.
Welk Resort Group: An Independent Brand
Founded in 1955 by the late entertainment icon Lawrence Welk, the Welk Resort Group remains today a privately held, family-owned company. Based in Escondido, California, the company has developed and/or operated more than 900 luxury vacation units, villas and hotel rooms in San Diego, the Palm Desert area, Branson, Missouri and Maui, Hawaii. It has sold over 32,000 vacation intervals to more than 30,000 Welk Resort owners. The company, which increased 2003 revenue by more than 50 percent, continues to thrive as an independent development entity. The company has stayed true to its brand. It knows it must exemplify the brand qualities of integrity, wholesomeness, financial stability and passion for quality every day for which it has been known since 1955. Today, families are starting a new tradition of family togetherness at the five Welk Resort Group vacation properties.
