Interval International and Preferred Hotel Group announce strategic alliance and launch of branded exchange programme

The two will form a branded exchange programme, Preferred Residences™ for fractional, private residence club, and condo-hotel properties.

"This is exactly the right time to enter the market with a branded exchange network. The escalating prices of vacation homes in key destinations worldwide makes this product a compelling alternative to second home ownership," noted Craig M. Nash, chairman and chief executive officer of Interval International.

"The Middle East is a very important market to Preferred Hotel Group. We believe our reputation for quality and luxury combined with Interval's depth of experience will make Preferred Residences™ a highly attractive option to the region's savvy clientele,"

added John Ueberroth, chief executive officer of Preferred Hotel Group.

Turning to Dubai, the emirate is on the brink of announcing timeshare regulation, according to David Clifton, Interval's managing director for EMEA and Asia : "Interval remains committed to driving the growth of the region's vacation ownership sector, pending key Government approvals of 'timeshare' laws that will ensure industry regulation from the outset.

"We know that vacation ownership, or timeshare as it is also known, works - and we know how to ensure that it works well for all stakeholders.

"The coming together of Interval and Preferred Hotel Group opens more doors for our potential developers in Dubai plus gives Middle East travellers more quality options to choose from when making a vacation ownership purchase," he added.

Through the Interval and PHG strategic partnership , developers who affiliate with the programme will have the opportunity to promote their upscale projects under the newly created Preferred Residences™ brand, access to marketing resources available through PHG, and provide exclusive exchange and membership services for their vacation owners. The Preferred Residences network will begin affiliating charter members during the next several months with a programme launch slated for 2008.

Interval International recently promoted and participated in an exclusive interactive forum, the third Vacation Ownership Investment Conference (VOIC) in Dubai. VOIC is structured to share invaluable insight into the world of timeshare, vacation and fractional ownership with a case study-look at reasons for the industry's continued annual growth over two decades.