Holiday Inn Club Vacations Acquires Four Resorts in Mexico

Holiday Inn Club Vacations Incorporated, a vacation ownership company and partner of IHG Hotels & Resorts (IHG), announced today that it has acquired four beachfront resorts located in Cancun, Playa del Carmen and the Riviera Maya, Mexico from Royal Resorts. The acquisition also includes most of Royal Resorts' related companies and its corporate operations. These resorts will be Holiday Inn Club Vacations Incorporated's first properties located outside the United States, further broadening Holiday Inn Club Vacations' and IHG's resort footprint and providing guests with increased choice in leisure destinations.

The four award-winning, family-friendly resorts acquired by Holiday Inn Club Vacations Incorporated – The Royal Sands, The Royal Cancun, The Royal Haciendas and Grand Residences by Royal Resorts – collectively will add more than 850 villas to the company's growing portfolio of destination resorts. The company expects it will take approximately one year to fully integrate the resorts, and during this process, the resorts will continue to operate normally.

Once complete, IHG Hotels & Resorts customers will be able to book these properties through IHG and enjoy benefits of IHG's loyalty program – IHG One Rewards – including the ability to earn and redeem points for hotel stays. These properties will join IHG's global network of 18 brands and more than 6,000 hotels globally, adding stunning family travel destinations to IHG's growing brand portfolio.

John Staten, President and Chief Executive Officer, Holiday Inn Club Vacations Incorporated, stated: "We couldn't be more excited about this news and what it means for Holiday Inn Club Vacations, and most importantly, the families that travel with us. This acquisition is aligned with our growth roadmap where growing guest love and our resorts are two interconnected foundational pillars supporting our all-encompassing mission to be the most loved brand in family travel. With four incredible resorts located throughout one of the fastest growing family travel destinations in the world – the scenic Mexican Caribbean – the acquisition brings an entirely new, all-inclusive experience to our owners, Club members and guests."

Keith Barr, Chief Executive Officer, IHG Hotels & Resorts, said: "Guests around the world will now have even more exciting choices to add to their travel plans while also enjoying the rich benefits of our IHG One Rewards program for their current and future stays. The addition of these award-winning resorts also demonstrates the strength of the Holiday Inn brand family and, certainly, founder Kemmons Wilson's unwavering vision to create a better way to vacation lives on today."

Spence Wilson, Board Chairman, Holiday Inn Club Vacations Incorporated, commented: "Since my father started Holiday Inn Club Vacations more than 40 years ago, there have been many significant growth milestones along the way. Few can top today's announcement—our first expansion outside the United States. I am incredibly proud of our team and look forward to a future that is brighter and even more exciting as we welcome the Royal Resorts team and their owners, members and guests into our family."

Dr. Kemil Rizk, Chief Executive Officer and President of Royal Resorts, added: "We believe that it is a perfect fit, and we could not ask for a better partner to continue our legacy since welcoming our first guests in 1978. Like us, Holiday Inn Club Vacations is a pioneer company with a family-oriented resort collection and a reputation for outstanding service and quality. Holiday Inn Club Vacations is dedicated to providing memorable vacation experiences for families – something that aligns perfectly with the Royal Resorts mission and values, our points based and fixed week vacation ownership memberships and our team's everyday commitment to quality service."

The transaction was reviewed and received approval from the Anti-Trust Commission (Comisión Federal de Competencia Economica, COFECE) of the Mexican government. As part of a separate agreement, Tortuga Resorts UK Limited is acquiring the entities which own and operate the remaining Royal Resorts properties – The Royal Islander and Royal Uno All Inclusive Resort & Spa.