InterContinental Hotels Group today unveiled the first Holiday Inn-branded time share, through a partnership with time-share operator Orange Lake Resorts.

The first "Holiday Inn Club Vacations" resort includes 2,412 villas spread across a 1,400-acre golf, water park and sports at an Orange Lake development just outside of Walt Disney World.

Orange Lake Resorts will sell time-share intervals for Holiday Inn Club Vacations through a contract with InterContinental Hotels. Future plans call for adding existing Orange Lake resorts in Panama City, Fla.; Ascutney, Vt.; and Lake Geneva, Wis., to the new Holiday Inn time-share portfolio by early 2009.

"The strength and recognition of the Holiday Inn brand combined with Orange Lake's expertise in time-share management positions us well for the future, even during these challenging economic times," Christian Hempell, vice president of Holiday Inn Club Vacations, said in a news release. "Guests know and trust the Holiday Inn, and we're excited to offer them the opportunity to experience the brand in a new way through time-share ownership."