INTERVAL RENEWS MULTI-YEAR STRATEGIC ALLIANCE WITH CARIBBEAN HOTEL ASSOCIATION TO SUPPORT PROGRAMS AND EDUCATION
Miami, Florida, November 9, 2004– - Interval International today announced the renewal of its multi-year strategic alliance agreement with the Caribbean Hotel Association (CHA) that was established in 2000. This agreement represents Interval's ongoing commitment to support the initiatives and objectives of CHA.
Under the terms of the agreement, Interval and CHA will continue to work together on issues relating to the support and growth of the tourism sector in the Caribbean. The strategic alliance recognizes that tourism is a pivotal industry in the economy of the region both in terms of employment and positive economic impact.
"We are very pleased to be able to further develop this key relationship between Interval and CHA that began several years ago," said Marcos Agostini, region director for the Caribbean and Latin America for Interval International. "It shows that CHA and its membership recognize the significant growth and economic contributions of the timeshare sector to the region."
Recently, CHA also launched a Timeshare Committee chaired by Marcos Agostini to further education and development of the vacation ownership industry in the Caribbean.
"CHA is proud to extend its formal alliance with Interval International," said Berthia Parle, president of CHA. "They have long proven their commitment to developing Caribbean tourism. With Interval's thorough knowledge of the Caribbean market, and a strong desire to provide real guidance, this alliance surely benefits our membership."
As in past years, Interval will be heavily involved with the Caribbean Hospitality Industry Conference (CHIC), the Caribbean Hotel & Tourism Investment Conference (CHTIC), and the CHA Marketplace Conference. The company will also provide assistance in creation of panels for the conferences and help in the selection of speakers where it involves the vacation ownership industry, fractional developments and mixed-use resorts in the timeshare industry.
"We will continue to promote tourism development through our activities in support of CHA and jointly assist Caribbean hoteliers in identifying potential synergies and opportunities which exist in the timeshare sector," Agostini added.
Interval's reputation for superior products and services has attracted leading independent and brand name developers to its network. Beyond exchange, Interval offers a range of services to its current roster of Caribbean resort developer clients and new entrants into the vacation ownership industry, including program design, sales and marketing support, reservations, travel and financial services.
The Caribbean has proven itself to be a popular destination among current and potential owners of the vacation ownership product. According to the results of Future Timeshare Buyers: 2004 Market Profile, a benchmark study sponsored by Interval International and conducted by Yesawich, Pepperdine, Brown & Russell, the Caribbean was ranked by U.S. respondents as one of the top three foreign travel destinations of interest among consumers considering a timeshare purchase.
This finding reinforces a study of Interval International United States based members, conducted by Simmons, an Experian Company Bureau, Inc. in 2003, in which the Caribbean was cited by nearly three-quarters of the respondents as the preferred international destination of choice for travel within the next two years.
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.
