News for the Hospitality Executive
IHG Create New Timeshare Brand; Holiday Inn Club Vacations
with Orange Lake's Flagship 2,412 Villa Property in Orlando, Florida
ATLANTA, Sept. 24, 2008 - IHG (InterContinental Hotels Group) announces today the formation of a strategic alliance with The Family of Orange Lake Resorts to create a new timeshare brand, Holiday Inn Club Vacations(TM).
Holiday Inn Club Vacations will launch in December 2008 with Orange Lake's flagship 2,412 villa property in Orlando, Florida. This marks IHG's first move into the timeshare market, one of the fastest growing segments of the U.S. holiday and vacation industry. [Source: American Resort Development Association (ARDA)]
The conversion of the remaining Orange Lake resorts in Ascutney, Vermont (60 villas), Lake Geneva, Wisconsin (68 villas) and Panama City, Florida (18 villas) are scheduled to follow shortly after.
This alliance is unique in that it allows IHG to enter the timeshare industry, purely through an exclusive licensing and marketing agreement. Orange Lake will continue to own, operate and develop these timeshare resorts as a privately held company.
"This deal reinforces the strength of the Holiday Inn brand as we are able to move into the timeshare market with a good partner who knows the business well," said Andy Cosslett, chief executive officer, IHG. "We believe that timeshare is a natural progression for Holiday Inn due to our scale and customer base in North America. This comes at a time when the $1 billion global relaunch of Holiday Inn is progressing well. This agreement fits well with our business model as we are able to introduce the Holiday Inn brand to a new set of customers without the need for capital investment. With both companies focused on growth the alliance brings with it the opportunity to expand into major North American destinations."
Orange Lake is situated on over 1,400 acres with 2,412 villas, adjacently located to the new north entrance of Walt Disney World(R) Resort. The flagship resort has over 25 years of proven success in Orlando, the number one leisure destination for U.S. travelers. It offers a host of amenities including:
The marketing and licensing agreement also includes:
The Family of Orange Lake Resorts has evolved from a "best-kept secret" as the world's largest single-site timeshare resort to a multi-site network of over 2,400 villas in its portfolio. New resort additions in Wisconsin, Vermont and Florida have added vacation flexibility for a great number of owners who want to experience shorter getaways to nearby destinations. Orange Lake's flagship property, located next to Walt Disney World Resort in Orlando, was established in 1982 by Holiday Inn(R) Founder, Kemmons Wilson. The company plans to continue the expansion of their flagship resort to 4,500 villas. The Family of Orange Lake Resorts continues to be the "home-away-from-home" to more than 120,000 owners from all 50 U.S. states and more than 120 countries.
InterContinental Hotels Group (IHG) (LON: IHG) (NYSE:IHG) (ADRs) is the world's largest hotel group by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, over 4,000 hotels and more than 590,000 guest rooms in nearly 100 countries and territories around the world.
|Also See:||Orange Lake Resort & Country Club in Kissimmee is Building a 27,000 sq ft Waterpark, More Villas / November 2005|