Miami, Florida, April 4, 2012 - Interval International, a prominent worldwide provider of vacation services and an operating business of Interval Leisure Group (Nasdaq: IILG), and Central Florida Investments/Westgate Resorts, the largest privately held developer in the vacation ownership industry, today announced the extension of their master affiliation agreement. The multi-year contract continues the relationship established in 1991and comprises 25 properties throughout the United States, as well as future development.
"Interval International has been a great partner of ours for the past 20-plus years and we look forward to continuing this great relationship. They have been an important part of the success of our company," said David Siegel, founder, president, and CEO of Westgate Resorts. "Since day one, we've focused on providing exceptional value and memorable vacation experiences. We could not have a better exchange partner than Interval, whose high-quality resort network, programs, and benefits have helped us meet our owners' needs."
"David Siegel has a remarkable entrepreneurial spirit. He entered the American timeshare business at its infancy in the '80s with just 16 units, and built Westgate Resorts into a most impressive empire," said Craig M. Nash, chairman, president, and CEO of Interval Leisure Group. "We look forward to many more years of our ongoing collaboration with David and his team, as we grow our respective businesses."
The Westgate collection of resorts encompasses experiential-themed resort properties in some of the most popular vacation destinations across the United States such as, Orlando, Florida; Gatlinburg, Tennessee; Williamsburg, Virginia; and Park City, Utah, among others. While diverse in location, each resort features luxurious villa accommodations, a multitude of on-site amenities, and an extensive family-oriented activities program. The resorts include a variety of world-class amenities, award-winning restaurants, full-service spas, and Westgate Smoky Mountain Resort & Spa is home to one of the largest indoor/outdoor water parks in the southeast. The company also offers a wide range of guest services to ensure that owners and visitors fully enjoy their destination experience.
As part of the extension, Westgate Resorts will continue to enroll new vacation buyers as Interval Gold® members of Interval International. Members have the opportunity to exchange their accommodations for those at other resorts in Interval's global network. They also enjoy an extensive menu of additional Interval Gold benefits, such as the ability to relinquish their resort weeks toward the purchase of cruise, golf, and spa vacations; discounts on resort Getaways; ShortStay Exchange®; a personal concierge service available 24/7 via phone and e-mail; complimentary Hertz #1 Gold® membership; and special offers at hotels, restaurants, and retail outlets worldwide.
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 more than 2,600 resorts in over 75 nations. Through offices in 15 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 business of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to the vacation industry.
Founded in 1982, Westgate Resorts operates as a subsidiary of Central Florida Investments, Inc. (CFI), which employs 5,500 people and has evolved into the largest privately-held corporation in the Central Florida area. Starting with its original 16-unit resort at Westgate Vacation Villas, Westgate Resorts now encompasses more than 12,000 villas at 25destination resorts in premier travel destinations throughout the United States, such as Orlando, Florida; Gatlinburg, Tennessee; Myrtle Beach, South Carolina; Park City, Utah; Las Vegas, Nevada; Williamsburg, Virginia; Miami, Florida; Branson, Missouri; Mesa, Arizona; Tunica, Mississippi; and more. Westgate Resorts also operates the Westgate Resorts Foundation, which was started in 2001 and donates more than $2 million annually to charities and causes in communities where Westgate Resorts employees live and work.