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With Fairfield Resorts Alliance |
HONOLULU & ORLANDO - July 19, 2002 - Outrigger
Enterprises, Inc. and Fairfield Resorts, Inc., a vacation ownership company
with more than 450,000 owners, today announced a new exclusive strategic
marketing and development alliance. The alliance will mark Outrigger's
entry into the rapidly expanding timeshare industry, while providing Fairfield
Resorts with its first ever Hawaii-based sales and marketing operation.
The alliance will help attract more visitors to Hawaii and Outrigger
by
"We are extremely pleased to join with Fairfield Resorts in entering
the
"Our product is successful because it never stops getting better for
those
Timeshare owners are considered highly desirable visitors in the travel industry. According to travel industry research, timeshare owners and their guests spend more than $5 billion annually in U.S. resort areas, and their average daily expenditures are about $145 per day or about $1,200 during their stay. A 2000 study of the Hawaii timeshare market reported that timeshare owners in Hawaii spent even more - an average of $2,608 per stay. Timeshare owners in the United States pay about $249 million in property taxes. Additionally, timeshare owners are twice as likely to return to a vacation location with timeshare availability as they are to other locations. Relative to other hospitality segments, timeshare has shown surprising resilience during downturns in the economy or global travel. Outrigger Hotels & Resorts, a division of Outrigger Enterprises, Inc., operates two hotel brands - Outrigger Hotels & Resorts and OHANA Hotels & Resorts. The company currently operates or has under development 45 hotels and resorts throughout the Pacific region, representing more than 12,000 hotel rooms and condominium units in Hawaii, Micronesia, Australia and the South Pacific. Outrigger's affiliate, Outrigger Lodging Services, operates nearly two-dozen hotels and resorts throughout the U.S. Mainland. Fairfield Resorts specializes in the development, marketing and sales of innovative travel and leisure products, including vacation ownership intervals at the company's 64 nationwide resorts. Fairfield Resorts was one of the first U.S. developers to move from traditional fixed-week timeshare ownership to a points-based exchange program with the launch of FairShare Plus in 1991. Fairfield Resorts, headquartered in Orlando, is a subsidiary of Cendant Corporation |
Contact:
Jim Austin
808-921-6941 Outrigger Hotels & Resorts [email protected] www.outrigger.com Adam Schwartz
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