Interval Leisure Group Completes Acquisition of Hyatt Residential Group

MIAMI & CHICAGO--(BUSINESS WIRE)--Interval Leisure Group (“ILG”) (NASDAQ:IILG), a leading global provider of non-traditional lodging across a broad spectrum of the vacation industry, has completed the previously announced acquisition of Hyatt Residential Group from affiliates of Hyatt Hotels Corporation (“Hyatt”) (NYSE:H), a leading global hospitality company. The purchase price of approximately $220 million 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.