MIAMI and ORLANDO, Fla., Jan. 26, 2009 (GLOBE NEWSWIRE) -- Interval International, a leading provider of vacation services, and Starwood Vacation Ownership, Inc. (SVO), the vacation ownership division of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), today announced they have renewed their master affiliation. This multi-year agreement extends the relationship first established in 2000 and includes 20 existing resorts, as well as properties constructed during the term of the agreement.
In renewing this agreement, Sergio Rivera, chief executive officer of Starwood Vacation Ownership, identified Interval International as a key strategic partner. "Most of the world's major lodging brands are included in Interval's quality system. It's important to be affiliated with a great exchange company that has an entire roster of what we believe are comparable developers, and in turn, comparable resorts. That's a significant component of our success."
Craig M. Nash, chairman and chief executive officer of Interval Leisure Group, parent company of International Interval, echoed this sentiment. "For companies such as Starwood, the idea of comparable properties is extremely important. That's why we remain focused on expanding our high-quality global exchange system, to offer our clients' owners the most memorable vacation experiences possible. We know that Starwood owners expect the best and we're proud to take on the challenge, and be a part of what keeps their owners satisfied."
SVO develops resorts under the prestigious Westin and Sheraton brands in some of the most sought-after destinations in the world. Properties are located throughout the Bahamas, Mexico, the U.S. Virgin Islands, and the United States, including resorts in Arizona, California, Colorado, Florida, Hawaii, and South Carolina.
About Interval International
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 26 offices in 16 countries. Interval is an operating segment 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 more than 930 properties in approximately 97 countries and 145,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(r), The Luxury Collection(r), W(r), Westin(r), Le Meridien(r), Sheraton(r), Four Points(r) by Sheraton, and the recently launched Aloft(sm), and Element(sm). Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.