INTERVAL INTERNATIONAL AND CARIBBEAN HOTEL AND TOURISM ASSOCIATION RENEW LONG-STANDING STRATEGIC ALLIANCE
Miami, FL, November 18, 2010 – Interval International, a prominent worldwide provider of vacation services and an operating segment of Interval Leisure Group (Nasdaq: IILG), and the Caribbean Hotel and Tourism Association (CHTA) have announced the renewal of the strategic alliance first established in 2000.
“We are proud to extend this relationship and reaffirm our long-standing commitment to the Caribbean hospitality industry,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of Interval International. “Our partnership with the association has allowed us to collaborate with the region’s tourism leaders and play a more active role in facilitating the growth of shared ownership in this key market.”
“We greatly value our alliance with Interval and appreciate the company’s dedication to our organization. Throughout the years, the Interval team has committed significant time and resources to further our objectives and we look forward to working together on future endeavors,” said Alec Sanguinetti, director general and chief executive officer of CHTA.
Interval will continue to play a leadership role in supporting CHTA programs and events, including the Caribbean Hotel & Tourism Investment Conference and the Caribbean Marketplace Conference. The company also spearheads fundraising initiatives in partnership with the vacation ownership industry for CHTA’s Education Foundation.
Josef Forstmayr, president of CHTA noted, “Interval and its member resorts have played a key role in funding the education of our industry’s future leaders. As a result of their efforts, the vacation ownership industry has become the single largest contributor to the CHTA Foundation.”
The Caribbean has proven itself to be a very popular destination for both current owners and prospective timeshare purchasers of the vacation ownership product. According to the 2009 U.S. Membership Profile, a study of Interval’s U.S.-resident members, the Caribbean is the leading international location to which members plan to travel in the next two years. In addition, the Shared Ownership 2010: A Market Perspective cites the Caribbean as the preferred international destination among U.S. leisure travelers interested in traveling outside the continental United States. The study offers unique insights into the evolving product, vacation habits, preferences, and intentions of U.S. leisure travelers who are interested in acquiring some form of shared ownership in the next two years.
Interval International operates membership programs for vacationers and provides value-added services to its developer clients worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 34 years. Today, Interval has an exchange network of more than 2,500 resorts in over 75 nations. Through offices in 14 countries, Interval offers high-quality products and benefits to resort clients and approximately 2 million families who are enrolled in various membership programs. Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.
