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INSIDER

RESORTDEVELOPER.COM

vacation industry review

JANUARY – MARCH 2015

10

I L G N E W S

Interval Leisure Group

has completed

the acquisition of Hyatt Residential

Group from affiliates of

Hyatt Hotels Corporation.

The purchase includes

Hyatt’s interest in a joint venture that

owns and is developing

Hyatt Ka’anapali Beach,

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

Moon Palace Jamaica Grande

in Ocho Rios, Jamaica, and the

adults-only

Le Blanc Spa Resort

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 —

Moon Palace Golf & Spa Resort

– Nizuc,

Cozumel Palace,

and

Isla Mujeres Palace

— 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

Copyright © 2014 Holland & Knight LLP All Rights Reserved

Industry Insight and Prowess

Call on Holland & Knight as informed advisors to the vacation ownership and timeshare industry, with

extensive experience in the full range of legal, transactional and regulatory issues relevant to banks;

private equity funds; real estate developers; property managers; hotels; vacation clubs; and other

publicly traded and privately owned companies pursuing business opportunities in this sector.

www.hklaw.com

Jeff Stern | Washington, D.C.

202.828.5005 |

jeff.stern@hklaw.com