For Your Information: May 6, 1998
The Federal Trade Commission today announced the following action.
Consent agreements given final approval: Following a public comment period, the Commission has made final a consent agreement with the following entity. The Commission action makes the consent order binding on the respondent.
- A final consent order with CUC International Inc. (CUC) will settle FTC allegations that its purchase of HFS Incorporated (HFS) would have created a virtual monopoly in the worldwide market for full-service timeshare exchange services. Under the terms of the order, CUC is required to divest all of its Interval timeshare exchange business assets to Interval Acquisition Corporation (IAC), a new entrant into the timeshare exchange services market controlled by a venture capital firm, Willis Stein & Partners, L.P. The Commission vote to make the order final was 4-0, with Commissioner Mozelle W. Thompson not participating. The divestiture to IAC was consummated during the comment period on this consent. (See news release dated December 17, 1997; Docket No. C-3805. Staff contact is Daniel P. Ducore, 202- 326-2526)
Copies of the documents referenced above are available from the FTC’s web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-FTC-HELP (202- 382-4357); TDD for the hearing impaired 1-866-653-4261. Consent agreements subject to public comment also are available by calling 202-326-3627. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.
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