Showing posts with label Interval Leisure Group. Show all posts
Showing posts with label Interval Leisure Group. Show all posts

Merger of Starwood Vacation Club with Interval Leisure Group Complete

Owners at Starwood Vacation Club (SVC) can now breathe a collective sigh of relief, as the planned merger with Interval Leisure Group, in the works since February 2015, is now complete. A letter recently sent to owners confirmed the completion and announced that SVC is now officially Vistana Signature Experiences Inc., one of the industry's largest providers of world-class vacation experiences.

Starwood Benefits Will Stay the Same

Chief Operating Officer of Starwood Hotels & Resorts, Stephen G. Williams wrote to owners, "This is an exciting time, and we look forward to our continued relationships with Westin and Sheraton as we remain their exclusive provider of vacation ownership." He also assured owners that they would be able to enjoy their timeshares as always, and still receive the same valuable benefits, branded experiences and preferred access to the Starwood Preferred Guest program (SPG).

More Opportunities for Owners

Bigger picture mergers often mean more opportunities for owners and this latest one sounds good. Williams says Vistana is committed to adding more resorts and products. Opening in the summer of 2017 on North Ka'anapali Beach in Maui is the newest resort, Westin Nanea Ocean Villas. In the Caribbean, poolside buildings are being converted to villas at the Westin St. John Resort & Villas providing more availability in 2017.

Five new "upper-upscale" resorts have been added as part of the transaction. Scheduled to reopen in second quarter 2017, after renovations following Hurricane Odile, is the Weston Resort & Spa Los Cabos. The Weston Resort & Spa Cancun, Westin Resort & Spa, Puerto Vallarta, Sheraton Kaua'i Resort and Sheraton Steamboat Springs, are expected to provide additional villa accommodations over time, but until then owners can continue to access them through the SPG program.

Commitment Continues

Williams ends the owner letter with a promise of continued commitment to creating memorable vacation experiences and giving owners a better way to see the world.

To get the full picture visit the new website at www.vistana.com 




Spin-off Puts Starwood at the Top of the Industry

Last Tuesday, October 28, Starwood Vacation Ownership announced that the big spin-off had gone through. Starwood Vacation Ownership will be acquired by Interval Leisure Group (ILG) who also owns exchange subsidiary, Interval International. The transaction was not a total surprise. Starwood Hotels & Resorts, the parent company of the Westin, Sheraton and W Hotel brands, had announced in February 2015, that they would be looking to spin off its vacation-ownership business into a separate company. In a just released letter to owners, the company stated that the spin-off would, "put Starwood at the forefront of the industry, and would offer owners even more choices for unique and memorable vacation experiences."

Starwood offered assurances in a letter to owners that they will continue to be the exclusive provider of vacation ownership for Westin and Sheraton brands, and will still provide all the features and benefits of current ownership. Access to Starwood Preferred Guest® (SPG) program, current guidelines and fees, exchange rules reservation rights and all exchange options will all remain the same.

The letter also stated that five transferring Starwood properties are part of the transaction: The Westin Resort & Spa, Los Cabos; The Westin Cancun Resort & Spa; The Westin Resort & Spa, Puerto Vallarta; Sheraton Kauai Resort; and Sheraton Steamboat Resort. These resorts are anticipated to provide additional inventory for owners over time.

Starwood says ILG is committed to invest in new Westin and Sheraton properties. In 2016, the Westin St. John Resort is scheduled to convert 96 poolside hotel rooms into vacation ownership villas. The Westin Nanea Ocean Villas on Ka’anapali Beach in Maui, is currently under construction and due to open in 2017.

On the same day that Starwood made its spin off announcement, the Wall Street Journal ran an article that stated, "at least three big Chinese companies are competing to win Beijing's approval to bid for Starwood Hotels & Resorts Worldwide Inc. According to people with knowledge of the discussions, it could be the largest-ever Chinese takeover of a U.S. company." The article said that the Chinese government might discourage bidding for Starwood if the price is considered too high. The interest in Starwood is the latest sign of China's global ambitions in the hospitality sector. The report sent Starwood stock soaring.

In related events, around the time the spin off was first announced in February 2015, Starwood Chief Executive Frits van Paasschen, left under pressure. Paasschen failed to move quickly enough to increase the number of hotels in the Starwood system through franchise or management agreements, according to Starwood Chairman Bruce Duncan. In April 2015, Starwood hired investment bank Lazard to help the company explore strategic alternatives such as a sale or merger. Its decision to explore strategic alternatives to create value, sparked speculation of the potential for broader merger activity in the hotel industry. 

The latest news on Thursday, October 29, showed shares of Starwood Hotels and Resorts Worldwide continuing to soar following a report by CNBC that Starwood is in merger talks with Hyatt Hotels and a deal could be a week away. Hyatt management would take control of the combined company if the deal goes through. We can't wait to see what happens next! Whatever the future brings for the company, it looks like big changes are in the works.

Interval International and Ocean Two Resort And Residences on Barbados

Interval International, a leading global provider of vacation services and an operating business of Interval Leisure Group includes Ocean Two Resort and Residences in Barbados in its exchange network.

The beachfront resort is situated on the south coast of the island, known for its natural beauty and warm year-round climate.

“We are delighted to be in a business relationship with Ocean,” said David Gilbert, executive vice president of resort sales and marketing for Interval International.

“This was one of the newest properties to open on the island when we affiliated with it in 2011, and it is representative of the quality product that Interval members expect.”

Ocean Two’s 70 residences feature a tropical chic décor, modern furnishings, stainless steel appliances and granite countertops, WiFi high-speed Internet access throughout the resort, flat-panel televisions, and ample terraces with ocean views.

On-site amenities include a serpentine 150-foot pool with a swim-up bar, private cabanas, rooftop infinity-edge pool and deck, spa services, fitness center, restaurant, lobby bar, concierge lounge, and meeting room.

“Our affiliation with Interval International has afforded our owners opportunities to vacation at high-quality resorts all over the world, adding great value to their ownership experience,” said Patricia Affonso-Dass, group general manager of Ocean Hotels.

“And we enjoy hosting Interval members and guests at Ocean Two, which combines the luxury and comfort of a full-service resort in an idyllic tropical island paradise.”

The property is within walking distance of the well-known St. Lawrence Gap area shops, restaurants, and night spots. Barbados has a vibrant culture that blends English, African, and West Indian customs and traditions.

Visitors can enjoy a variety of local events, such as cricket matches, festivals, and carnivals that combine food, music, and dance. Nature lovers will appreciate the botanical gardens, sanctuaries, and underground caves on the island. Other recreational activities include windsurfing, sailing, snorkeling, and horseback trail rides.

Interval International Affiliates Six Village Center Resorts in France

Interval International, a prominent worldwide provider of vacation services and an operating business of Interval Leisure Group announced the addition of six Village Center resorts located in four regions of France: Normandy, Dordogne, Languedoc, and the Oriental Pyrenees.

All are new, purpose built properties primarily concentrated in the southern part of the country that borders the northern Mediterranean coastline.

“Village Center has been developing and operating great holiday accommodation in popular destinations throughout France for more than 35 years,” said Darren Ettridge, Interval's senior vice president of resort sales and business development for Europe, Middle East, Africa, and Asia.

“We’re thrilled that they have expanded into shared ownership and chosen Interval to provide exchange and leisure benefits to their owners.”

The resorts have gained the distinguished Clef Verte label, the global Green Key eco-rating, in recognition of the developers’ efforts to reduce their carbon footprint.

Each destination is strategically located to allow visitors easy access to the cultural activities of the surrounding region, as well as the natural landscapes and sporting activities.

The four properties that opened this summer include:
1. Le Clos du Rocher is situated in Les Eyzies de Tayac, the heart of the Dordogne, an area renowned for its dramatic landscape and UNESCO World Heritage prehistoric sites.

2. Les Demeures Torrellanes is less than two miles from Saint-Cyprien in the Oriental Pyrénées between Spain and Andorra — close to prime beaches on the Mediterranean.

3. Côte Vermeille, Les Demeures de la Massane is Located at the southernmost point of France, within 20 minutes of Perpignan, at the foot of the Albères mountains.

4. Côté Green (see photo) sits on an 18-hole golf course in the 444-acre Domaine de Fontcaude greenbelt located in the town of Juvignac in the Languedoc-Roussillon region.

Scheduled to open in 2013:
5. Le Domaine de la Corniche will be situated in the Calvados region of Normandy, famed for its cider and gastronomy, as well as beautiful landscapes, sandy beaches, and historic sites. Located minutes from the town of Deauville, it will be convenient to the iconic Mont St. Michel and other points of interest.

6. Domaine de Bacchus will be located steps from the centre of the town of Saint Christol in the Languedoc region. The Provençal-style resort is situated less than half a mile from Saint Christol’s winery cooperative.

Interval Leisure Group Acquires Vacation Resorts International

Interval Leisure Group (ILG) has announced that it has acquired Vacation Resorts International (VRI).

"With the acquisition of VRI and ILG’s existing management interests, Interval Leisure Group becomes the largest independent provider of resort and homeowner association management services to the shared ownership industry,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group.

“ILG companies now deliver these services to more than 180 timeshare resort and club locations and 325,000 owner families. The purchase supports our strategic focus on asset-light, fee-for-service businesses and further positions us as a leading source for shared ownership management and membership expertise,” said Nash.

Headquartered in Laguna Hills, California, Vacation Resorts International (VRI) has provided resort and homeowner association management services to the shared ownership industry for 30 years. VRI has four regional offices and manages more than 140 resort and club locations in North America for the approximately 250,000 families who own at VRI-managed properties.

Interval Leisure Group (ILG) is a leading global provider of membership and leisure services to the vacation industry. ILG is headquartered in Miami, Florida, and has more than 2,800 employees worldwide.

The company’s primary business segment is Membership and Exchange, which offers travel and leisure-related products and services to approximately 2 million member families who are enrolled in various programs.

Interval International, the segment’s principal business, has been a leader in vacation ownership exchange for 35 years. With offices in 15 countries, it operates the Interval Network of more than 2,600 resorts in over 75 nations. ILG delivers additional opportunities for vacation ownership exchange through its Trading Places International (TPI) and Preferred Residences networks.