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INSIDER RESORTDEVELOPER.COM vacation industry review
JANUARY – MARCH 2015
10
I L G N E W S
has completed
the acquisition of Hyatt Residential
Group from affiliates of
The purchase includes
Hyatt’s interest in a joint venture that
owns and is developing
a 131-unit shared ownership
property in Maui.
In connection with the acquisition, a
subsidiary of ILG has entered into a
global master license agreement with
respect to the exclusive use of the Hyatt brand in shared ownership.
Hyatt will receive annual license fees, and the Hyatt Residence Club
and 16 existing shared ownership resorts will retain the Hyatt
Residence Club brand. The approximately 30,000 Hyatt Residence
Club owners will continue to receive all privileges currently associated
with their memberships, including Hyatt Gold Passport benefits.
Hyatt Hotels Corporation, headquartered in Chicago, is a leading
global hospitality company with subsidiaries that manage, franchise,
license, own, and develop hotels, resorts, branded residences, and
vacation ownership properties under various brand names and have
locations on six continents.
Guaduales del Café
The first phase of a mixed-use resort in the heart of Colombia’s
Coffee Triangle is expected to be completed in the first quarter
of 2015. Guaduales del Café has integrated sustainable building
practices, using eco-friendly materials and natural light and air-
flow to reduce energy use. The two-bedroom units are to feature
contemporary design and up-to-date amenities such as Wi-Fi.
Palace Resorts
in Ocho Rios, Jamaica, and the
adults-only on Mexico’s Riviera Maya are
two more Palace Resorts that have joined the Interval
International exchange network. Both properties offer lavish
amenities such as a double-
wave simulator (Jamaica)
and a 24-hour butler (Le
Blanc). The Jamaica resort
is set to open the first quar-
ter of 2015. Three other
properties —
– Nizuc,
and
— affiliated
with Interval earlier in 2014.
A F F I L I A T I O N S A N D A W A R D S
ILG Acquires Hyatt
Residential Group
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