Interval International [II]
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's exchange network comprises nearly 3,200 resorts in over than 80 nations. Through offices in 15 countries, Interval offers high-quality products and benefits to resort clients and about 2 million families who are enrolled in various membership programs. Interval is an operating business of ILG (Nasdaq: ILG), a leading global provider of professionally delivered vacation experiences.
Interval provides its members, vacation owners from around the world, with comprehensive exchange services and a variety of other exciting benefits that offer value and convenience at home and on the road.
Membership is limited to owners at Interval-affiliated resorts and while the properties are not owned or managed by Interval International, they all must meet Interval's criteria for quality.
Interval International was formed in 1976 by Thomas J. Davis, Jr. and Mario Rodriguez to compete in the timeshare exchange marketplace. They marketed the company as a more upscale alternative to that of Resorts Condominiums International RCI.
Mr Davis left Interval International in 1982 and Leaguestar plc, (a London-based holding company supported by European institutional investors), purchased Rodriguez’s interest in 1988.
In 1992, II became a wholly-owned subsidiary of CUC which merged with HFS in 1996, forming Cendant Corporation, anti-trust concerns were raised because both of the major exchange companies resided under the same corporate umbrella.
To mitigate those concerns, in December of 1997 Interval International was sold to an investment group formed and controlled by Chicago-based investment partnership Willis Stein & Partners, L.P, a group of II’s senior executives and a consortium of hospitality firms consisting of Carlson Companies, Inc., Hyatt Vacation Ownership, Inc. and Marriott Ownership Resorts, Inc.
In 2002 the company was purchased by USA Interactive, later renamed InterActiveCorp (IAC), owned by Barry Diller. Carlson, Hyatt and Marriott no longer had an ownership interest in the company, but they continued to affiliate their resorts with II.
Mario Rodgriguez, who was known as the industry’s goodwill ambassador throughout his life, passed away on March 25, 2003.
In 2008 IAC spun off Interval International which became a publicly traded company named Interval Leisure Group. Since then ILG has expanded significantly. Besides Interval International, ILG’s operating businesses include Aqua-Aston Hospitality, Hyatt Vacation Ownership, Interval International, Trading Places International, Vacation Resorts International, VRI Europe, and Vistana Signature Experiences. Through its subsidiaries, ILG independently owns and manages the Hyatt Residence Club program and uses the Hyatt Vacation Ownership name and other Hyatt marks under license from affiliates of Hyatt Hotels Corporation. In addition, ILG’s Vistana Signature Experiences, Inc. is the exclusive provider of vacation ownership for the Sheraton and Westin brands and uses related trademarks under license from Starwood Hotels & Resorts Worldwide, LLC.
Caribbean, Mexico, and Latin America
For Customer Service, please e-mail: CustomerService@intervalintl.com
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