Interval Leisure Group, Inc.’s (IILG) principle business, Interval International, which is a leading vacation services provider, declared a long-term agreement with Divi Resorts.
Interval Leisure Group is a Miami-based leading provider of membership and leisure services to the vacation industry globally. This agreement entails seven resorts, the new Divi Vacation Club as well as properties that are to become a part of the club in the future.
Caribbean-based Divi Resorts is a vacation expert with the largest portfolio of shared ownership resorts. Divi Resorts possess a collection of premium resorts on the five islands of Aruba, Barbados, Bonaire, St. Maarten and St. Croix in the U.S. Virgin Islands. The company offers a taste of authentic Caribbean hospitality to its guests with deluxe accommodations, customized service and a variety of amenities. The resorts also provide attractive recreations like strolls on beautiful beaches, underwater world explorations, hikes through forested parks, kayaks over clear waters and playing on golf courses.
The latest deal will not only enable Interval International to strengthen its presence in Caribbean with 7 resorts but will also help it expand its network worldwide.
Interval Leisure expertise’s in offering customized service packages including ongoing club support, reservation services, and points-based exchange. Further the club members will also benefit from Interval Platinum which will entitle them to attain various flexible exchange opportunities and upgraded services.
Moreover, Interval Leisure will benefit from the investment which Divi Resorts will make for the development and upgradation of the existing properties of the former in the Caribbean. The long-term agreement also introduced Divi Vacation Club, which was brought to market by Interval’s seasoned team. This vacation club will provide the members a variety of ways to utilize their vacation time.
According to Interval’s latest U.S.-resident member study, Caribbean is the most sought after vacation destination for international travelers besides being highly lucrative to vacation ownership product buyers. Therefore, with this agreement the company will be able to strengthen its footprint in the region and generate more revenues.
The Divi Vacation Club has been enrolling members since Jan 1, 2015. The points-based travel club not only offers its members access to the premier Caribbean destinations but also provides travel opportunities worldwide. The Divi Club Destinations comprises six Caribbean properties in the Divi Resorts Group, as well as resorts within the Interval International network where the members will be allowed to book vacations using the points accumulated.
The existing members of Divi Vacation Club will now become individual members of Interval as well as Interval Platinum. The members are also entitled to use benefit offers like Priority Pass – a complimentary airport lounge membership and Interval Options – the facility to use points for cruise, tour, golf or spa vacations.
Apart from these, other facilities include ShortStay Exchange; Hertz Gold Plus Rewards membership; priority Getaway viewing; US$50 Getaway discounts; free Guest Certificates; Platinum Escapes; and special offers at hotels, restaurants, and retail outlets worldwide.
Currently, Interval Leisure carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Better-ranked in the same sector include Cedar Fair, L.P. (FUN), Royal Caribbean Cruises Ltd. (RCL) and Carnival Corporation (CCL). While Cedar Fair and Royal Caribbean Cruises sport Zacks Rank #1 (Strong Buy), Carnival Corporation holds a Zacks Rank #2 (Buy).
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