Destination Clubs Agree to Merger Deal
SEPTEMBER 14, 2007. Ultimate Resort and Private Escapes have announced the signing of a definitive agreement to merge and create the industry's fastest growing and second largest destination club by a large margin.
Approximately 1,200 club members will have access to hundreds of exclusive club properties located in nearly 50 of the world's best resort destinations in the US, Mexico, the Caribbean and Europe, as well as exclusive access to a select collection of over 60 luxury hotels in dozens of major cities in the US, Europe, Asia, Middle East, South America and Central America.
The combined company will operate three distinct destination clubs targeting the $1 million, $2 million and $3 million average home value club categories.
The new combined club, led by the strongest and most seasoned management team in the industry, will account for more than 25 percent of the total market share and boast a global resort real estate portfolio with a fair market value of $200 million.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
