INTERVAL INTERNATIONAL WINS SOUTHERN SUN EXCHANGE BUSINESS
Significant Step in International Expansion
Miami, FL, and Johannesburg, South Africa, December 11, 2008 — Interval International, a leading global provider of vacation services, and Southern Sun Hotel Interests (Proprietary) Limited (“Southern Sun”), a leading hotel group in the region, today announced they have entered into a long-term, exclusive affiliation agreement. This includes Southern Sun’s six existing Lifestyle Resorts, representing one of the largest vacation ownership programmes in Southern Africa, as well as any future developments added during the term of the agreement.
In addition to the affiliation, Southern Sun has selected Interval to provide a comprehensive package of customised services, including programme-design support and back-office points-based reservation services. This seamless integration will leverage Interval’s global infrastructure and complement Southern Sun’s resources. Interval specialises in working with resort developers to create vacation ownership programmes of every configuration, including points-based club products.
“We are honoured to have the opportunity to provide a wide range of value-added services for Southern Sun’s owners. The company has been a major player in the region’s vacation ownership industry for many years and we look forward to working with Southern Sun, as they take their already successful business to the next level,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of Interval International. “We are also very pleased to offer our members the chance to visit these quality resorts in Southern Africa, a destination that’s known worldwide for its one-of-a-kind vacation experiences set amidst spectacular scenery.”
Graham Wood, managing director of Southern Sun said, “We are extremely proud of our partnership with Interval International. The two teams worked incredibly hard to make this dream a reality. Going forward, we will be able to offer our Lifestyle Resort owners true world-class service excellence and a wide variety of choice on a global scale.”
Southern Sun Lifestyle Resorts division operates a multi-location vacation ownership programme with six properties situated at destinations including Garden Route, KwaZulu-Natal, and Mpumalanga. The programme currently comprises approximately 33,000 members, or more than eight percent of the country’s existing timeshare owners, who own in excess of 43,000 vacation ownership weeks. These consumers will benefit from the services to be provided by Interval under this agreement, which commences in February 2009.
According to the Timeshare Institute of Southern Africa (TISA), some 400,000 owners hold weeks or points for timeshares in the country and a recent survey revealed that nearly two-thirds of respondents feel that timesharing has increased the amount of time they spend on holidays. With the affiliation of Southern Sun, Interval has gained a strong platform for future growth in the region. Alex Bosch, executive director of TISA said, “We are excited to have a company of the magnitude and reputation of Interval significantly enhance its presence in South Africa. This is a truly positive development for the industry and provides real choice in the marketplace.”
ABOUT INTERVAL INTERNATIONAL
Interval International operates membership programmes for vacation owners 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 30 years. Today, Interval has a network of over 2,400 resorts in more than 75 countries and offers its resort clients and approximately 2 million member families high-quality products and programs through 26 offices in 16 countries.Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq:IILG), a leading global provider of membership and leisure services in the vacation industry.
ABOUT SOUTHERN SUN
Southern Sun is one of the leading hotel groups in South Africa, providing world-class accommodation across all markets and offering the widest distribution of hotels in South Africa in major urban centres and key leisure destinations. Southern Sun's hotel portfolio comprises various own brands, segmented to guests' needs, as well as managed global brands. Our collection of 80 hotels, with 13,285 rooms, combine local favourites with some of the world's most respected hotel brands: Southern Sun Hotels and Resorts; SunSquare; Garden Court; StayEasy by Southern Sun; Southern Sun Lifestyle Resorts; InterContinental Hotels; Holiday Inn and Formula 1. Southern Sun has also invested significantly in expanding to Kenya, Zambia, Seychelles, Tanzania, Mozambique and Dubai, adding to its international portfolio.
With nearly 40 years of experience in servicing the local and international business and leisure traveller, Southern Sun is focused on building its portfolio of successful global brands and continues its expansion in Africa, the Indian Ocean and the Middle East. Southern Sun is wholly owned by Tsogo Sun Holdings, one of South Africa's most successful entertainment and hospitality groups. Tsogo Sun Holdings comprises Southern Sun and Tsogo Sun Gaming.
