8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  November 17, 2008

Interval Leisure Group, Inc.

(Exact name of registrant as specified in charter)

Delaware	001-34062	26-2590997
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)
6262 Sunset Drive, Miami, FL		33143
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code:  (305) 666-1861

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01.    REGULATION FD DISCLOSURE.

In accordance with the terms of the Indenture, dated August 19, 2008 among Interval Acquisition Corp., the guarantors (including Interval Leisure Group, Inc.) and The Bank of New York Mellon, as trustee, the financial information included in Exhibit 99.1 hereto is being provided to the holders of the notes issued under the indenture.

ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS.

(d)           Exhibits to this Form 8-K

Exhibit No.	Description
99.1	Financial Information provided to holders of Interval Acquisition Corp. notes

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Interval Leisure Group, Inc.
	By:	/s/ Victoria J. Kincke
	Name:	Victoria J. Kincke
	Title:	Senior Vice President and
		General Counsel
Date:  November 17, 2008

3

EXHIBIT LIST

Exhibit No.	Description
99.1	Financial Information provided to holders of Interval Acquisition Corp. notes

4

EX-99.1

Exhibit 99.1

In August 2008, Interval Acquisition Corp. (the “Issuer”), a wholly-owned subsidiary of Interval Leisure Group, Inc. (“ILG”), issued $300 million principal amount of 9 ½% senior notes due 2016 (the “Notes”). The Notes are guaranteed by ILG and the domestic subsidiaries of the Issuer. These guarantees are full and unconditional and joint and several. Pursuant to Section 4.03(a) of the Indenture, dated as of August 19, 2008, among the Issuer, the guarantors and The Bank of New York Mellon as Trustee (“Trustee”), the Issuer is obligated to furnish to the holders of the Notes with respect to September 30, 2008 and for prior periods consolidating  financial data that reconciles the differences between the information relating to ILG and the information relating to the Issuer and its restricted subsidiaries

The following tables present condensed consolidating financial information as of September 30, 2008 and December 31, 2007, and for the three and six months ended September 30, 2008 and 2007 for ILG on a stand-alone basis, the Issuer on a stand-alone basis, the combined guarantor subsidiaries of ILG (collectively, the “Guarantor Subsidiaries”), the combined non-guarantor subsidiaries of ILG (collectively, the “Non-Guarantor Subsidiaries”) and ILG on a consolidated basis (in thousands). ILG was incorporated in May 2008 and became the parent company of the Issuer in August 2008.  Therefore, results of ILG are included in the 2008 periods only.

Balance sheet as of September 30, 2008

As of September 30, 2008	ILG		Interval Acquisition Corp.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Total Eliminations			ILG Consolidated
Current assets	$	37	$	2,355	$	124,279		$	84,368	$	—		$	211,039
Property and equipment, net	1,162		—		34,867			1,425		—			37,454
Goodwill and intangible assets, net	—		347,252		338,358			—		—			685,610
Investment in subsidiaries	147,657		652,640		46,383			—		(846,680		)	—
Other assets	—		35,626		28,588			10,660		(27,448		)	47,426
Total assets	$	148,856	$	1,037,873	$	572,475		$	96,453	$	(874,128	)	$	981,529
Current liabilities	$	2,124	$	15,503	$	176,060		$	26,049	$	(27,448	)	$	192,288
Other liabilities and minority interest	—		512,390		109,825			21,894		—			644,109
Intercompany liabilities (receivables)	1,600		362,323		(366,050		)	2,127		—			—
Shareholders’ equity	145,132		147,657		652,640			46,383		(846,680		)	145,132
Total liabilities and shareholders’ equity	$	148,856	$	1,037,873	$	572,475		$	96,453	$	(874,128	)	$	981,529

Balance sheet as of December 31, 2007

As of December 31, 2007	Interval Acquisition Corp.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Total Eliminations			ILG Consolidated
Current assets	$	136	$	69,569		$	77,858	$	—		$	147,563
Property and equipment, net	—		33,688			1,275					34,963
Goodwill and intangible assets, net	361,734		341,469			—		—			703,203
Investment in subsidiaries	535,260		41,533			—		(576,793		)	—
Other assets	24,632		23,632			16,071		(27,447		)	36,888
Total assets	$	921,762	$	509,891		$	95,204	$	(604,240	)	$	922,617
Current liabilities	$	173	$	164,891		$	22,658	$	(27,447	)	$	160,275
Other liabilities and minority interest	96,909		122,898			29,168		—			248,975
Intercompany liabilities (receivables)	311,313		(313,158		)	1,845		—			—
Shareholders’ equity	513,367		535,260			41,533		(576,793		)	513,367
Total liabilities and shareholders’ equity	$	921,762	$	509,891		$	95,204	$	(604,240	)	$	922,617

Statement of income for the three months ended September 30, 2008

For the Three Months Ended September 30, 2008	ILG			Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Total Eliminations			ILG Consolidated
Revenue	$	—		$	—		$	87,791		$	12,964		$	—		$	100,755
Operating expenses	(4,003		)	(5,259		)	(57,556		)	(10,100		)	—			(76,918		)
Interest income (expense), net	—			(2,628		)	47			865			—			(1,716		)
Other income (expense), net	14,987			19,823			3,141			1,339			(37,915		)	1,375
Income tax benefit (provision)	1,534			3,051			(13,597		)	(1,963		)	—			(10,975		)
Minority interest	—			—			(3		)	—			—			(3		)
Net (loss) income	$	12,518		$	14,987		$	19,823		$	3,105		$	(37,915	)	$	12,518

Statement of income for the three months ended September 30, 2007

For the Three Months Ended September 30, 2007	Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Total Eliminations			ILG Consolidated
Revenue	$	—		$	84,394		$	11,625		$	—		$	96,019
Operating expenses	(6,203		)	(55,446		)	(9,316		)	—			(70,965		)
Interest income (expense), net	1,654			(15		)	728			—			2,367
Other income (expense), net	19,340			1,889			274			(21,270		)	233
Income tax benefit (provision)	1,755			(11,477		)	(1,381		)	—			(11,103		)
Minority interest	—			(5		)	—			—			(5		)
Net (loss) income	$	16,546		$	19,340		$	1,930		$	(21,270	)	$	16,546

Statement of income for the nine months ended September 30, 2008

For the Nine Months Ended September 30, 2008	ILG			Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Total Eliminations			ILG Consolidated
Revenue	$	—		$	—		$	277,441		$	42,435		$	—		$	319,876
Operating expenses	(7,042		)	(15,739		)	(176,154		)	(31,794		)	—			(230,729		)
Interest income (expense), net	—			2,862			(27		)	2,471			—			5,306
Other income (expense), net	61,162			69,105			8,579			903			(138,914		)	835
Income tax benefit (provision)	2,698			4,934			(40,724		)	(5,368		)	—			(38,460		)
Minority interest	—			—			(10		)	—			—			(10		)
Net (loss) income	$	56,818		$	61,162		$	69,105		$	8,647		$	(138,914	)	$	56,818

Statement of income for the nine months ended September 30, 2007

For the Nine Months Ended September 30, 2007	Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Total Eliminations			ILG Consolidated
Revenue	$	—		$	231,926		$	36,411		$	—		$	268,337
Operating expenses	(18,813		)	(138,382		)	(27,825		)	—			(185,020		)
Interest income (expense), net	5,566			(96		)	2,059			—			7,529
Other income (expense), net	63,251			6,642			(543		)	(69,966		)	(616		)
Income tax benefit (provision)	5,110			(36,831		)	(3,387		)	—			(35,108		)
Minority interest	—			(8		)	—			—			(8		)
Net (loss) income	$	55,114		$	63,251		$	6,715		$	(69,966	)	$	55,114

Statement of cash flows for the nine months ended September 30, 2008

For the Nine Months Ended September 30, 2008	ILG			Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Total Eliminations		ILG Consolidated
Cash flows provided by operating activities	$	1,438		$	9,665		$	80,891		$	5,681		$	—	$	97,675
Cash flows provided by (used in) investing activities	(1,438		)	(59,691		)	(22,502		)	683			—		(82,948		)
Cash flows provided by financing activities	—			50,026			—			—			—		50,026
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(1,945		)	—		(1,945		)
Cash and cash equivalents at beginning of the period	—			—			2,438			64,675			—		67,113
Cash and cash equivalents at end of period	$	—		$	—		$	60,827		$	69,094		$	—	$	129,921

Statement of cash flows for the nine months ended September 30, 2007

For the Nine Months Ended September 30, 2007	Interval Acquisition Corp.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Total Eliminations		ILG Consolidated
Cash flows provided by (used in) operating activities	$	(6,729	)	$	92,482		$	11,308	$	—	$	97,061
Cash flows provided by (used in) investing activities	6,729			(93,796		)	12,933		—		(74,134		)
Cash flows provided by financing activities	—			258			—		—		258
Effect of exchange rate changes on cash and cash equivalents	—			—			1,643		—		1,643
Cash and cash equivalents at beginning of the period	—			266			37,291		—		37,557
Cash and cash equivalents at end of period	$	—		$	(790	)	$	63,175	$	—	$	62,385