Fractional Ownership News
Interval adds Egyptian resorts
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Vacation exchange provider Interval International has added Porto Vacation Club to its exchange network. The vacation club initially will consist of units at Porto Marina, a multi-use resort on Egypt’s Mediterranean coast, with two additional resorts, Golf Porto Marina and Porto Sokhna, to follow, all developed by the Amer Group.
"The Amer Group is committed to showcasing Egypt’s global appeal, while pursuing excellence in all its endeavours,” said Craig M. Nash, chairman, president, and chief executive officer of Interval Leisure Group, parent company of Interval International. “We look forward to working with the well-respected Amer family as they enter the shared ownership industry with these outstanding resorts."
“We are very pleased with the opportunities offered by our move into vacation ownership,” said Mansour Amer, chairman of the Amer Group. “Our emphasis on quality, which mirrors that of Interval International, is one of the primary reasons we selected their company to be our strategic partner.”
The Porto Marina complex features a 1200-berth marina, broad promenade with 180 designer shops, 11 restaurants and al fresco cafes, and a white-sand beach. The mixed-use property has a total of 1,200 one- and two-bedroom apartments, and includes a 378-room luxury hotel with views of the Mediterranean.
Later this year, Golf Porto Marina will be added to the vacation club. The resort will bring the first 18-hole championship golf course to the coast, along with Olympic City, a training facility for sports professionals. The mixed-use property covers 370 acres (150 hectares) and includes 5,100 apartments offering concierge and housekeeping services, as well as around-the-clock room service.
Porto Sokhna, which overlooks the Red Sea, will add another range of two-bedroom apartments at the Group’s third mixed-use resort next year. This complex will feature 1,600 apartments, a 42-unit suite hotel, 18-hole championship golf course, spa, and mall with 150 shops.
Plans call for at least 200 units at each of the three resorts to participate in the vacation club programme, the majority of which will be two-bedroom units. Interval will provide exchange and membership services to members of the vacation club, as well as to full-time member residents owning whole units at the three Porto Vacation Club resorts who participate in the rental programme. This will include Interval Gold, Interval’s upgraded membership tier with enhanced benefits.
“To have Porto Vacation Club affiliated with us is the first step in what we know will be a long-term relationship,” added David Clifton, managing director of Europe, Middle East, Africa, and Asia for Interval International. “We are excited about the Amer Group’s vision for ‘Creating Lifestyle Landmarks’ with world-class facilities for holidaymakers of all ages. Its flagship resort, Porto Marina, is already a favourite international gathering spot.”
www.intervalworld.com
03/02/10
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When Marriott launched London’s 47 Park Street under the Grand Residences brand in Mayfair in 2003, it was regarded Europe’s first and only urban fractional destination. Its flexible usage structure and well established operations remain unique within the UK’s fractional market today. Members are attracted to its versatility, sophistication and solid experience. It allows them to enjoy their residence at their convenience, while offering all the services normally associated with a luxury hotel. Reciprocal arrangements are in place with sister clubs worldwide, and the option of rental is available for unused time in order to maximize return.
