Interval International Affiliates Westin Los Cabos
APRIL 4, 2007. Interval International, a leading global vacation exchange company and operating business of IAC (Nasdaq: IACI), announced the affiliation of The Westin(R) Los Cabos Ocean Villas in Baja California, Mexico. It will be the third Starwood Vacation Ownership property in Latin America and the first vacation ownership resort in Los Cabos being developed by a major U.S. lodging company.
"Los Cabos continues to experience tremendous growth and has become one of the most exciting vacation destinations in the world today. Its unique setting and temperate climate are ideal for a host of recreational and leisure activities," said Craig M. Nash, chairman and chief executive officer of Interval International. "The caliber of the vacation ownership product is exceptional and Starwood's entry into the market adds to the high quality of the product offerings there."
"We are excited to extend our presence in Mexico and build another Westin Vacation Ownership resort adjacent to the renowned Westin Resort & Spa in Los Cabos," said Sergio Rivera, president of real estate development, Starwood Hotels & Resorts Worldwide, Inc. "As Starwood is one of the oldest and most prominent hotel companies in the country, Mexico is an important market for us. A vacation ownership resort is a natural complement to The Westin Resort and offers guests the benefit of owning a piece of one of the world's premier destinations."
The Westin(R) Los Cabos will feature 64 villas overlooking the Sea of Cortez. Owners and exchange guests will have access to the amenities at both properties, including multiple restaurants, pools, full-service spa, tennis courts, golf, and The Westin WORKOUT(R) Powered by Reebok(R) fitness facility. Construction will begin in the second quarter of 2007.
Los Cabos' location at the southernmost tip of Baja California Sur provides visitors with the opportunity to experience its distinctive landscape. The 20-mile tourist corridor between Cabo San Lucas and San Jose del Cabo offers spectacular vistas of golden sand beaches, coves, and the cobalt waters of the Sea of Cortez. It is recognized worldwide as a destination for marlin sports fishing and ideal for such water sports as diving and snorkeling. Another
natural attraction is the annual whale migration from December to March when thousands of whales and their new born calves can be viewed and photographed from shore. Los Cabos is also home to numerous annual golf championships that draw top professional figures.
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