Orange Lake Resorts, home to the Holiday Inn Club Vacations brand and IHG (InterContinental Hotels Group) [LON: IHG, NYSE: IHG], today announced the unprecedented 100-year extension of its strategic alliance. The new agreement gives Orange Lake Resorts exclusive global rights to develop and sell timeshare interests under the Holiday Inn Club Vacations brand until 2119, meaning the company can expand its current resort network outside the United States.
Spence Wilson, Sr., Chairman, Orange Lake Resorts, said: "My father, Kemmons Wilson, founded both Holiday Inn hotels and then Orange Lake Resorts with the same purpose – to create affordable and memorable experiences for families. IHG has continued to deliver on his vision and values. We brought these two companies together 11 years ago to continue his work. Together, we launched an incredible brand that provides more travel options for our owners and Club members while continuing to strengthen family bonds. We are very happy to announce the extension of the original agreement well into the 22nd century, as well as the additional global reach it provides the brand."
Elie Maalouf, Chief Executive Officer, Americas, IHG, said: "We are honored to be part of Kemmons Wilson's enduring vision. The deep trust and strong relationship we have with the Wilson family and Orange Lake Resorts team are reflected in this 100-year extension and global expansion of our partnership. The success of our strategic alliance has exceeded our expectations and strengthened our ties. We look forward to growing and evolving Holiday Inn Club Vacations.
Since forming the alliance with IHG, Holiday Inn Club Vacations has experienced tremendous growth. Expanding from four to 28 resort properties, the company has tripled its number of owners and Club members, from 120,000 to 350,000. The initial agreement, signed in 2008, created the Holiday Inn Club Vacations brand and launched the Holiday Inn Club, which enables Club members to exchange points into the IHG Rewards Club and use their ownership to stay at any of IHG's more than 5,600 hotels and resorts worldwide.
Tom Nelson, President and CEO, Orange Lake Resorts: "Extending our partnership with IHG will enable our company to plan further into the future, make bolder moves and explore destinations we might never have imagined. This paves the way for us to provide even more exciting and memorable vacations, as well as the opportunity to collaborate more closely with IHG as we both look to grow and enhance our customers' experiences."
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