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MARRIOTT AND HILTON TAKE TIMESHARING TO NEW LEVEL OF ACCEPTANCE AND PROFESSIONALISM

 MARRIOTT AND HILTON TAKE TIMESHARING TO NEW LEVEL
 OFF ACCEPTANCE AND PROFESSIONALISM
 WASHINGTON, June 25 /PRNewswire/ -- The timeshare industry continues to gain mainstream acceptance in the overall vacation and travel industry as more and more major hotels develop timeshare resorts. According to the American Resort Development Association (ARDA), the impact of the new companies coming into the business will have a long-lasting positive effect.
 "Marriott was the first to recognized the benefits of the timeshare development industry and they remain one of the world's largest and most respected developers," said Tom Franks, president of ARDA. "Now, Hilton has announced their plans to develop timeshare properties with the formation of the Hilton Grand Vacation Corporation."
 Sales of timeshare vacations continue to increase as more consumers are exposed to the concept and understand how timesharing works. There are currently more than 3,000 timeshare resorts located in 75 countries representing over 2 million owners around the world. Sales expect to reach the $4 billion mark in 1992 and roughly 3.3 million timeshare intervals were purchased in the 1980s for a sales volume of over $23 billion.
 Marriott is now one of the world's largest timeshare developers with 18 resorts and over 40,000 vacation owners. The company expects sales to exceed $100,000 in 1992.
 "Marriott Ownership Resorts, Inc. (MORI), entered the business in 1984 and has consistently grown each year," said Robert Miller, EVP of MORI. "Marriott has recognized the consumer benefits of timesharing when it is managed properly."
 Hilton Grand Vacations Co. intends to develop an international "system" of high quality vacation ownership resorts and to provide comprehensive management, rental and resale services to resort owners.
 The company will offer an innovative club membership program to resort owners which will include numerous special exchange arrangements, such as access to the Hilton Honors frequent guest program and special travel services.
 "Vacation ownership continues to improve its credibility and has extremely favorable demographic prospects for the '90s and beyond. We intend to take advantage of this opportunity and look forward to accomplishing our goal," said Barron Hilton, chairman and president of Hilton Hotels Corporation.
 Other hotel companies now in the timeshare industry include: The Disney Company, Radisson, Holiday Inn, ITT Sheraton and Westin Hotels.
 The American Resort Development Association is the professional association of the recreational real estate, resort and vacation ownership industry. ARDA represents over 1,200 resorts, including second home resorts, community developments, vacation timeshare resorts, fractional interests and recreational vehicle (RV) camp resorts.
 -0- 6/25/92
 /CONTACT: David Matheson of the American Resort Development Association, 202-371-6700/
 (MHS HLT) CO: American Resort Development Association ST: District of Columbia IN: LEI SU:


MH-TW -- DC022 -- 3898 06/25/92 15:26 EDT
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Publication:PR Newswire
Date:Jun 25, 1992
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