INTERVAL INTERNATIONAL SUSTAINS SEVEN-YEAR DOUBLE-DIGIT GROWTH

Source: Interval International

May 24, 1999
Interval International, The World-Class Vacation Exchange Company, announced last month year-end 1998 results that reflect sustained double-digit growth in total member families and number of confirmed vacations. The company has reported double-digit growth for these categories every year since 1992.

As of December 31, 1998, Interval's total members exceeded 968,000, representing a 14 percent increase from 1997. Interval confirmed more than 540,000 vacations in 1998, representing an increase in excess of 13 percent from 1997.

The company expanded its resort network through new affiliations that include 175 additional properties. Of these new member resorts, 20 percent received the Interval International Five Star Award, given to properties that meet or exceed the company's highest quality standards and offer exceptional vacation experiences.

To service the company's growing network, the number of Interval employees increased by more than seven percent and currently totals 1,420 worldwide.

"Interval's reputation as a quality leader and a product and service innovator has allowed us to grow our resort network by adding properties from leading developers such as Intrawest; Club Privilege; Consolidated Resorts; Epic Resorts; Hyatt; Marriott; Pacific Monarch Resorts; Peppertree; Premier Vacation Club; Quintus Resorts; Royal Resorts and Sunterra Europe," said Craig M. Nash, president and chief executive officer of Interval International. "In fact, of the 38 companies with annual vacation-ownership sales of $20 million or higher listed in Vacation Ownership World's yearly industry survey, more than 60 percent have business relationships with Interval."

Nash attributes Interval's growth to the company's consistent focus on delivering exceptional service and its success in offering complementary services that meet developers' evolving needs. Interval's goal in 1999 is to further expand its role as a provider of operational support that facilitates the business objectives of its developer clients. In addition, the company is working toward enhancing its offerings of travel and leisure products to satisfy its membership base, which carries the highest demographic profile in the industry.

"Our developer clients need expertise and support to succeed in an increasingly complex marketplace," noted Nash. "Our ability to assist them allows us to attract new resorts and to further develop our relationship with existing affiliates.

In 1999," he added, "the industry should expect more innovation from Interval International, including a cutting-edge research initiative and an enhanced array of products and services. We are now in the best competitive position in the company's history."

Interval International, The World-Class Vacation Exchange Company, has served the vacation-ownership industry since 1976, offering innovative products and leading the industry with the highest level of quality, service and value. Interval has attracted leading independent and brand name developers to its network, which now includes approximately 1,800 resorts in more than 70 countries. Interval serves nearly one million member families worldwide through 31 offices in 25 countries. Beyond exchange, Interval offers its clients a range of services, including program design, sales and marketing support, travel, telecommunications, reservations and financial services.