INTERVAL INTERNATIONAL RECORDS GROWTH IN KEY OPERATING AREAS
USA Interactive Adds Global Vacation Exchange Leader To Its Portfolio of
E-Commerce Giants
Miami, FL, April 7, 2003 – Interval International, a leading global vacation exchange, leisure lifestyle and travel benefits provider, today announced year-end results that reflect sustained growth in key operating areas as well as resort affiliations with leading branded and independent resort developers. The timeshare industry continues to perform well in an era of economic uncertainty and geo-political instability and is one of the few “bright lights” in the worldwide hospitality sector.
As of December 31, 2002, Interval reported a consumer membership roll of close to 1.5 million and confirmed approximately 719,000 vacations, as compared to 1.3 million consumer members and about 671,000 vacations, respectively, in 2001.
Interval was acquired in September 2002 by USA Interactive and is now a part of its travel services group, which also includes Expedia (Nasdaq:EXPE), Hotels.com (Nasdaq:ROOM), TV Travel Group and the forthcoming U.S. cable travel network.
“We are extremely pleased to achieve these positive results in such a challenging environment,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We look forward to working with other USA companies in 2003 to provide benefits and services to our developer clients and consumer member families.”
In addition to the increases in members and confirmed vacations, Interval expanded its global network through a number of notable affiliations, including both branded and independent properties. These included resorts developed or operated by Accor, Disney Vacation Club, Hyatt Vacation Club, Marriott Vacation Club International and Starwood Vacation Ownership, as well as Consolidated Resorts, Escapes!, Festiva, Grandvista, Lawrence Welk Properties, Mariner, Monarch Grand Vacations, Seasons, Sunterra, Vacation Charters, Ltd., CFI/Westgate and Willowbrook.
Another key accomplishment was the record growth achieved in online confirmations. The company more than doubled the number of online transactions during 2002 over 2001, demonstrating the company’s commitment to online commerce as part of its core operating philosophy.
“The tremendous year-over-year increase in online transactions reinforces the importance of e-commerce in today’s travel business,” noted Jeanette Marbert, chief operating officer of Interval International. “Recent enhancements to our consumer Web sites are generating real dividends and we anticipate the volume of online transactions to continue on this growth trend. USA’s well-known successes in e-commerce and ‘best-in-class’s operating philosophy will serve Interval, its consumer members and developer clients well.”
For more than 27 years, Interval International has led the vacation ownership industry with innovative products and the highest levels of quality, service and value complemented by a global network of 2,000 resorts in 75 countries. With its headquarters located in Miami, Florida, Interval serves its developer clients and more than 1.5 million members through 27 offices in 18 countries and employs nearly 1,600 people worldwide. Interval International is a division of USA Interactive.
CONTACT INFORMATION:
Chris Boesch
(305) 666-1861, ext. 7267
Chris.Boesch@intervalintl.com
