InterContinental launches vacation timeshare brand
LOS ANGELES (Reuters) - InterContinental Hotels Group, operator of brands including Holiday Inn, said on Wednesday it has entered the vacation timeshare business through an alliance with the Family of Orange Lake Resorts.
IHG, the world's largest hotelier, said the new timeshare brand will be known as Holiday Inn Club Vacations.
London-based IHG said that under the licensing and marketing agreement, Orange Lake will continue to own, operate and develop the timeshare resorts as a privately held company.
The timeshare brand will be launched in December with Orange Lake's flagship 2,412 villa property in Orlando, Florida.
Conversion of remaining Orange Lake resorts in Ascutney, Vermont (60 villas), Lake Geneva, Wisconsin (68 villas) and Panama City, Florida (18 villas) is scheduled to follow shortly after, the companies said.
(Reporting by Deena Beasley, editing by Richard Chang)
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