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Resort Location Receives Industry Renowned Five Star Award

Miami, FL, December 15, 2003 – Interval International, a leading global vacation exchange company, today announced the affiliation and Five Star recognition of Princeton Resorts Group’s Cibola Vista Resort & Spa, a vacation-ownership resort in Peoria, Arizona.

Currently under construction, Cibola Vista is set on 20 deeded acres in the northwest Valley of the Sun. The resort takes its name and its theme from the "Seven Cities of Cibola," the legendary cities of gold, silver, and cultural attainment spoken of by the Indians of northern Mexico. It was these stories that inspired the earliest Spanish exploration of the American Southwest.

"We are extremely pleased to be adding this unique property to our quality global vacation network," said David Gilbert, executive vice president, resort sales and marketing for Interval International. "Our members will enjoy the natural beauty of this destination and the tribute to the Southwest region reflected in the resort’s design and amenities."

Phase I of the project includes the first 40 of the planned 240 units scheduled for occupancy by summer 2004. Along with the timeshare units, hiking trailheads, a horse corral, a swimming pool, and other resort amenities should also be completed in the first phase. Phase II, which is slated for occupancy in summer 2005, will include 80 additional timeshare units, a lazy river and water amenity, an 8,000 square foot spa, a main restaurant and 100 hotel rooms. Upon its completion, it will be the largest resort built in the West Valley since the Wigwam in 1918.

"Cibola Vista Resort & Spa has executed an affiliation agreement with Interval International that will allow its members the flexibility and access to more than 2,000 leisure properties around the world," said Neil Cumsky, chief executive officer and president of Princeton Resorts Group. "We are proud to be affiliating with the premier exchange network so that we will be able to provide this enormously valuable benefit to our members."

Princeton Resort Group’s Cibola Vista Resort & Spa received the Interval International Five Star Award, one of the most prestigious awards in the vacation ownership industry, recognizing resorts that provide exceptional vacation experiences.

To qualify for the Interval International Five Star designation, the resort was evaluated according to the "Under Construction" Model of Interval’s Quality Rating System – an objective, quantitative assessment of the resort’s location, vacation area, facilities, accommodations, and guest services. After qualification, the resort must maintain high levels of exchange guest satisfaction monitored by a Customer Satis faction Index (CSI) and regular on-site inspections by Interval personnel.

Cibola Vista can easily be reached from Phoenix airport and is less than seven miles from Lake Pleasant, one of the most popular recreational attractions in Arizona.

For more than 27 years, Interval International has led the vacation ownership industry with innovative products and the highest levels of quality, service and value complemented by a global network of 2,000 resorts in 75 countries. With its headquarters located in Miami, Florida, Interval serves its developer clients and more than 1.5 million members through 26 offices in 17 countries and employs 1,700 people worldwide. Interval International is an operating business of IAC, formerly USA Interactive.​

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