Interval Leisure Group Acquires Trading Places International
MIAMI, November 30, 2010 (Businesswire) -- Interval Leisure Group (Nasdaq:IILG) ("ILG") today announced it has acquired all of the equity in Trading Places International. Terms of the transaction were not disclosed.
“With more than three decades of successful operating history, Trading Places specializes in quality exchange and management services for shared-ownership homeowner associations. The addition of Trading Places expands Interval Leisure Group’s fee-for-service, asset light offerings in several areas including, direct-to-consumer vacation ownership exchange and specialty lodging property management,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group.
”While we will be operating Trading Places independently from our Interval International and Aston businesses, this acquisition delivers a platform for developing additional channels to source prospective exchange participants and is an excellent example of how Interval Leisure Group will make targeted, accretive tuck-in acquisitions that support our position as a leading provider of specialty leisure and hospitality services.”
About Trading Places International
Trading Places International opened its doors in 1973 as a full-service travel agency in Southern California. Today, with a focus on quality, value, and personalized service, Trading Places is a vertically-integrated provider of exchange and leisure services to more than 300,000 vacation owners including onsite property management at over 20 resorts located throughout the mainland United States, Hawaii, and Mexico. Trading Places is headquartered in Laguna Niguel, California, and has approximately 250 employees.
About Interval Leisure Group
Interval Leisure Group (ILG) is a leading global provider of membership and leisure services to the vacation industry.
Its principal business segment, Interval, has been serving the vacation ownership market for more than 34 years. Interval operates mainly through Interval International, a membership-based organization that offers a comprehensive array of year-round benefits, including the opportunity to exchange the use of shared ownership vacation time. Today, Interval's primary vacation network comprises more than 2,500 resorts in over 75 nations. Through offices in 14 countries, Interval offers high-quality products and benefits to resort clients and approximately 2 million families who are enrolled in various membership programs.
ILG's other business segment is Aston which traces its roots in lodging back 60 years. Through a portfolio of approximately 4,700 units, Aston Hotels & Resorts and Maui Condo and Home provide hotel and resort management and vacation rental services to vacationers and property owners primarily in the Hawaiian Islands.
ILG is headquartered in Miami, Florida, and has more than 2,500 employees worldwide.
More information about the Company is available at www.iilg.com.