INTERVAL INTERNATIONAL AFFILIATES THE MANHATTAN CLUB PENTHOUSE SUITES IN THE HEART OF NEW YORK CITY
First Affiliation in Highly Desirable Urban Destination
Miami, Florida, August 23, 2004 – Interval International and the Continuum Company, LLC, based in New York, New York, today announced that they have entered into a long-term master affiliation agreement, which includes The Manhattan Club Penthouse Suites located in the heart of Manhattan. The agreement also encompasses a future 300-plus unit mixed-use resort to be developed by the Continuum Company in Las Vegas, Nevada.
“We are extremely pleased to have the opportunity to work with the Continuum group as they expand the timeshare offerings of their successful real estate development business,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We know how popular urban destinations are with timeshare owners and we're thrilled to offer our members the chance to visit this first-class property in Manhattan.”
Located in The Manhattan Club’s majestic tower on the 27 th through 30 th floors, the 24 Penthouse Suites are one-bedroom units with more than 700 square feet of space. Suites accommodate four guests comfortably and feature designer touches in every aspect of the décor, as well as plasma televisions, state-of-the-art entertainment centers, and oversize windows with spectacular views of the New York City skyline.
The club-like environment also offers owners services and amenities such as daily housekeeping, a penthouse concierge and access to a members-only sports club with expansive workout facilities and swimming pool. Guest services will also include breakfast and evening cocktails served on the private penthouse terraces, weather permitting.
“We are delighted to join forces with the quality leader in vacation exchange,” commented Bruce Eichner, chief executive officer of the Continuum Company. “Working with Interval gives us the added value of the company's longstanding commitment to its developers and allows us to offer our owners the very best in programs and service.”
Recognized as one of Manhattan’s premier condominium developers, Eichner’s company made its mark with the 70-story Cityspire near Carnegie Hall - one of the first “mixed-use”skyscrapers in New York, the triangular crested 1540 Broadway Building on Times Square, and several other luxury high-rise condominium projects.
In fact, Eichner was one of the first developers to build condominiums rather than co-op apartments when he recognized the more profitable business model that this configuration offered as rents began escalating in the early ’70s.
Further reinforcing the value of ownership at The Manhattan Club Penthouse Suites, all new purchasers 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 a 24/7 personal concierge service, and 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.
