Interval Leisure Group Acquires Hawaii-Based Aqua Hospitality and Aqua Hotels and Resorts
Interval Leisure Group ("ILG") (Nasdaq: IILG) today announced that it has acquired Aqua Hospitality and Aqua Hotels and Resorts ("Aqua") through an ILG subsidiary, Vacation Holdings Hawaii ("VHH"). Aqua is a leading management company currently representing more than 20 properties in Hawaii and Guam, and provides full-service management, including sales, marketing, Internet distribution, individualized branding, and reservations. Terms of the transaction were not disclosed.
highly desirable destinations"
"This acquisition furthers our strategy to expand ILG's fee-for-service business model inhighly desirable destinations," said Craig M. Nash, chairman, president, and CEO of Interval Leisure Group. "We look forward to leveraging the expertise of the Aqua team to enhance our already successful management and rental segment."
Kelvin Bloom, president of VHH, commented, "The combined operational strength andmarket penetration that Aqua and Aston offer, with the global presence of ILG, present an exceptional opportunity for our owners, guests, and employees. The Aqua collection of boutique, lifestyle, and historic hotels and resorts complements Aston's portfolio and will help meet the growing demand for accommodations in Hawaii." Aston is also a subsidiary of VHH and is based in Honolulu.
About Aqua Hospitality
Aqua Hospitality® is a Hawaii-based management company founded in2001. The company provides full-service management including sales, marketing, Internet distribution, individualized branding, reservations, as well as revenue management to maximize profitability. Currently representing more than 20 contemporary properties on Oahu, Maui, Kauai, Molokai, Lanai, Hawaii Island, and Guam, Aqua offers lifestyle full-service resorts, stylish boutique hotels, comfortable budget properties and a historic hotel within a UNESCO World Heritage Site. For more information on the company, individual hotels, and its three hotel brands – Monogram Hotel Collection, Aqua Hotels and Resorts and Lite Hotels, visit www.aquahospitality.com or call 1-808-943-9291.
Assistant Vice President, Corporate Communications
Interval Leisure Group (ILG) (Nasdaq: IILG) is a leading provider of professionally delivered vacationexperiences and the exclusive global licensee for the Hyatt®, Sheraton®, and Westin® brands in vacation ownership. The company offers its owners, members, and guests access to an array of benefits and services, as well as world-class destinations through its international portfolio of resorts and clubs. 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. owns and manages the Sheraton Vacation Club and the Westin Vacation Club and uses related trademarks under license from Starwood Hotels & Resorts Worldwide, Inc. Headquartered in Miami, Florida, ILG has offices in 15 countries and approximately 10,000 employees. For more information, visit www.iilg.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 21E of the SecuritiesExchange Act of 1934, as amended, relating to: our strategy, the integration of the acquired entities, our future financial performance, anticipated financial position, liquidity and capital needs and other similar matters. These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict.
Actual results could differ materially from those contained in the forward-looking statements included hereinfor a variety of reasons discussed in our filings with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, the forward-looking statements discussed in this release may not prove to be accurate. Accordingly, you should not place undue reliance on these forward-looking statements, which only reflect the views of our management as of the date of this press release. Except as required by applicable law, ILG does not undertake to update these forward-looking statements.