Interval Leisure Group, Inc.’s (IILG) principle business, Interval International that is a leading vacation services provider declared a long-term, club affiliation agreement with Plaza Hotéis.
Interval Leisure Group is a Miami-based leading global provider of membership and leisure services to the vacation industry. This agreement entails the shared ownership component of seven mixed-use properties in Brazil.
On the other hand, Plaza Hotéis, a leading hotel brand in Brazil, is located in the southern Santa Catarina and Rio Grande do Sul, which are the country’s most popular vacation destinations.
The latest deal will not only enable Interval International to strengthen its presence in Brazil with 13 resorts but also aid the global expansion of its network.
Notably, Interval International has been consistently entering into agreements and thereby expanding its business worldwide. Among its recent deals are the ones signed with Simola Golf, Country Estate, Arminel Hogsback Village and Windjammer Landing Villa Beach Resort & Spa.
The latest alliance marks the third one by Interval International in the present quarter. In the previous quarter, it had entered into 24 such affiliation agreements. These efforts have helped it to drive revenues, which increased 14.8% year over year and surpassed the Zacks Consensus Estimate by 2%.With respect to earnings, the company outperformed the Zacks Consensus Estimate by 22.2% and improved 3.1% year over year as well. The affiliation agreements will likely boost both the company’s top and bottom line.
Riding on solid performance, this Zacks Rank #2 (Buy) stock has also been witnessing upward estimate revisions in the past 60 days. For 2014, the Zacks Consensus Estimate moved north by 3.4% to $1.23 and for 2015, it increased by 2.3% to $1.36.
Other Stocks to Consider
Investors interested in the leisure and recreational services could consider stocks like Royal Caribbean Cruises Ltd. (RCL), Carnival Corporation (CCL) and Diamond Resorts International, Inc. (DRII). While Royal Caribbean Cruises sports a Zacks Rank #1 (Strong Buy), Carnival Corporation and Diamond Resorts International hold a Zacks Rank #2 (Buy).
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