Miami, Florida, October 23, 2008 – Interval International, a leading provider of vacation services, and Kosmas Group International (KGI) announced they have entered into a long-term affiliation agreement that includes resort properties in Key West, New Smyrna Beach, and Orlando, Florida, as well as any new projects developed by the group during the term of the agreement.
Construction plans are underway for a 19-acre development in Kissimmee, Florida, tentatively named The Reserve at Oakwater. The 300-unit project will feature a beach-entry swimming pool, children’s water playground, a nature trail, a fitness center, and a clubhouse. It is anticipated that the resort will open for sales in the summer of 2009.
“The Kosmas Group has been one of the leading companies in vacation ownership for more than 30 years,” noted Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of International Interval. “We greatly value this relationship and are pleased to have the opportunity to continue to provide Kosmas’ owners with exchange and leisure services, as well as to offer KGI a variety of programs to enhance their sales initiatives.”
“We made the decision to renew our long-standing alliance at this pivotal time in our company’s history, in part, because of Interval’s commitment to work in a collaborative fashion with its clients,” said Steve Kosmas, president of Kosmas Group International. “Interval offers us an innovative portfolio of business development products, including value-added membership and trial ownership programs and tour incentive premiums, which complement our own very successful marketing strategy. Perhaps most importantly, Interval is uniquely positioned to offer our current and future owners access to high quality resorts in very desirable destinations.”
Further reinforcing the value of vacation ownership, KGI owners will be enrolled as individual members of Interval International, as well as Interval Gold®, its upgraded membership program. This gives them the opportunity to exchange their accommodations for those at other resorts in Interval’s worldwide network, as well as the ability to relinquish the use and occupancy of their resort weeks toward the purchase of cruise, golf, and spa vacations. They also will enjoy an extensive menu of additional benefits, including discounts on resort Getaways, access to a personal concierge service available 24 hours a day via phone and e-mail, complimentary Hertz #1 Gold® membership, and worldwide hotel and dining discounts.
In addition, KGI offers its prospective owners the opportunity to participate in Leisure Time Passport, Interval’s trial membership program that allows consumers to experience vacation ownership and Interval Gold benefits, excluding vacation exchange.
Interval International operates membership programs for vacation owners 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 for more than 30 years. Today, Interval has a network of over 2,400 resorts in excess of 75 countries and offers its resort clients and nearly 2 million member families high-quality products and programs through 27 offices in 17 countries. Interval is an operating segment of Interval Leisure Group, Inc. (Nasdaq: IILG), a leading global provider of membership and leisure services to consumers and business-to-business customers in the vacation industry.
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Interval International, 6262 Sunset Drive, Miami, FL 33143www.intervalworld.com www.resortdeveloper.com