Starwood Vacation Ownership and Interval International Announce Long-Term Renewal
MIAMI--(BUSINESS WIRE)--Interval International, a prominent worldwide provider of vacation services and an operating business of Interval Leisure Group (Nasdaq:IILG), today announced the renewal of its master affiliation with Starwood Vacation Ownership, Inc. (SVO), a division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT). The long-term agreement extends the relationship established in 2000 and includes 19 shared ownership properties, as well as future resorts.
“We are proud to continue our longstanding partnership with Starwood, one of the leaders in the industry. We look forward to working with them for many more years and contributing to their ongoing success.”
Craig M. Nash, chairman, president, and CEO of Interval Leisure Group, said, “We are proud to continue our longstanding partnership with Starwood, one of the leaders in the industry. We look forward to working with them for many more years and contributing to their ongoing success.”
"We are pleased to renew our partnership with Interval, as we know they share our dedication to providing exceptional vacation experiences," said Steve Williams, senior vice president and chief operating officer of Starwood Vacation Ownership. "The quality of Interval-affiliated resorts continues to complement Starwood Vacation Network, giving our Owners additional options for villa-style vacations in popular destinations worldwide."
In business for more than 30 years, SVO develops and operates vacation ownership resorts and fractional-residential properties under the prestigious Westin and Sheraton brands throughout the United States, Mexico, and the Caribbean. Its Westin St. John Resort & Villas on St. John, USVI, is currently undergoing a multi-million dollar renovation that includes the conversion of 79 guestrooms into 54 luxury vacation ownership villas. The new project overlooks Great Cruz Bay, with expected occupancy beginning in spring 2015. Upon completion, there will be a total of 200 villas set on the resort’s lush landscape. Guests will also enjoy the enhancements to a number of the amenities, including the quarter-acre swimming pool, fitness center, spa, and dining facilities.
About Interval International
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 since 1976. Today, Interval has an exchange network of nearly 2,900 resorts in more than 80 nations. Through offices in 16 countries, Interval offers high-quality products and benefits to resort clients and about 2 million families who are enrolled in various membership programs. Interval is an operating business of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with nearly 1,200 properties in 100 countries, and 171,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft®, and Element®. The Company boasts one of the industry’s leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands.
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