Fractional Ownership News

Interval and Marriott celebrate 20 year partnership

Vacation exchange provider Interval International has announced the renewal of its master affiliation agreement with Marriott Vacation Club International, the timeshare division of Marriott International. The agreement extends the relationship first established in 1990 between the two companies.

Interval will continue to provide Marriott Vacation Club owners with both internal and external vacation exchange services, as well other leisure programmes, including offering the option of trading their accommodations for a resort within the Marriott portfolio or from among the 2,500-plus resorts in Interval's worldwide network.
In turn, other Interval members have the opportunity to exchange into Marriott Vacation Club's beach, ski, golf, spa, and themed-entertainment resorts.

"We have worked collaboratively with Marriott for the past two decades on ground-breaking initiatives that have been instrumental in the growth of both businesses and of the vacation ownership industry," said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group. "It has been very rewarding to share a common vision based on quality and integrity in everything we do."

"Interval has played an integral part in helping fulfill Marriott's brand promise. For 20 years, we have created memorable vacations together and exceeded owners' expectations," said Stephen P. Weisz, president of Marriott Vacation Club International. "We look forward to continuing our partnership with the Interval team and introducing exciting innovations that will further enhance our owners' experiences."

The announcement coincides with Interval reporting its Q4 results for 2009. "I am pleased with ILG's results for the fourth quarter and fiscal year 2009. During the past year, our fee for service business model has generated over $72 million in free cash flow and at the same time we have reduced our debt by $34 million. When ILG results are adjusted for incremental items related to the spin-off from IAC in August 2008, it is clear that our core business has performed very well year over year," said Nash. "While 2009 was a difficult year for many of our developer clients, we successfully renewed several significant long term relationships, launched new products and services, broadened Aston's geographic footprint and delivered consistent, solid financial results."

www.intervalworld.com
www.marriottvacationclub.com

11/03/09

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