Interval Leisure Group to Acquire Hyatt Residential Group; Announces Exclusive Master License Agreement in Vacation Ownership

MIAMI & CHICAGO--(BUSINESS WIRE)--Interval Leisure Group (“ILG”) (NASDAQ:IILG), a leading global provider of membership and leisure services to the vacation industry, and Hyatt Hotels Corporation (“Hyatt”) (NYSE:H), a leading global hospitality company, today announced their affiliates have signed a definitive agreement for ILG to purchase Hyatt Residential Group for approximately $190 million. In addition, ILG will acquire Hyatt’s interest in a joint venture that owns and is developing a 131-unit vacation ownership property in Maui, and will reimburse Hyatt an additional approximately $35 million, representing Hyatt’s contributions to the joint venture through the transaction’s anticipated closing date. In connection with the agreement, Hyatt has selected ILG as Hyatt’s exclusive licensee in vacation ownership.