Wyndham Vacation Resorts at National Harbor Expands Company’s Metropolitan Portfolio

Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE: WYN), today announced it has welcomed its first CLUB WYNDHAM® Plus owners to its highly anticipated urban property – Wyndham Vacation Resorts at National Harbor.  In development for more than three years, this 250-unit resort is the company’s second resort in the popular Washington D.C. market, joining Wyndham Old Town Alexandria.

“Our nation’s capital has always been a popular vacation destination.  Wyndham Old Town Alexandria was wildly successful when it opened in 1999 and it remains one of our most popular resorts so it was a natural decision to double our presence in this market,” said Franz Hanning, president and chief executive officer, Wyndham Vacation Ownership. ”The fact that our National Harbor property is more than 75% sold out is a testament to the popularity of our urban properties and the Washington D.C. area.”

Situated within National Harbor – a 300-acre waterfront community in Prince George’s County, Md. on the banks of the Potomac River – this purpose-built resort property features 250 condominium-style, fully furnished units, including 42 opulent, presidential suites.  Built in an 11-story tower, the resort also boasts an expansive health and fitness club, indoor and outdoor heated swimming pools, an outdoor terrace with a spa and wading pool as well as a recreation room.  Owners and guests will also enjoy the ever-growing popular urban vacation experience by having immediate access to the wide variety of shopping and dining options within the National Harbor complex, such as McCormick & Schmick’s, Dolce Enoteca, Ketchup, Grace’s Mandarin and Rosa Mexicano.

Located just minutes from the countless landmarks and attractions of Washington D.C., Wyndham Vacation Resorts at National Harbor, which will operate within the company’s CLUB WYNDHAM Plus exchange program, caters to a growing travel trend among timeshare owners to take vacations to major metropolitan centers.  In an owner survey, Wyndham owners indicated that nine of the top ten destinations they’d like to visit next are urban.

National Harbor was still being built when we bought,” said Eva and Al James of Oxford, NC, CLUB WYNDHAM Plus owners. “The location of the capital was a draw and the resort is right in the heart of the action.”

This resort property is the latest addition to the company’s portfolio of urban resorts, which are designed to offer owners convenient access to the exciting shopping, dining and nightlife located in or near the epicenters of major metropolitan destinations throughout the United States, Canada and Australia.  The company also boasts properties in other popular urban markets, including San Francisco, Calif., Seattle, Wash., Las Vegas, Nev., San Antonio, Texas, Vancouver, BC and Sydney, Australia.

About Wyndham Vacation Ownership
Wyndham Vacation Ownership, a member of the Wyndham Worldwide (NYSE: WYN) family of companies, is the world’s largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests.  Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, Wyndham Vacation Resorts, WorldMark by Wyndham, and Wyndham Vacation Resorts Asia Pacific.   As of January 1, 2009, Wyndham Vacation Ownership had developed or acquired approximately 150 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent approximately 20,000 individual vacation ownership units and more than 830,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Fla., and is supported by approximately 13,800 employees globally.

About National Harbor
National Harbor is a community unlike any other in the D.C. region, designed to take full advantage of the most historic river in the nation.  Rising from the banks of the Potomac River just south of the Woodrow Wilson Bridge in Prince George’s County, Md., National Harbor is a 300-acre, mixed-used development designed to include five hotels (including the Gaylord National Resort and Convention Center), thousands of residential and office units, tree-lined promenades with scores of shops and restaurants, a marina and much more.

Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family (NYSE:WYN), is celebrating a milestone anniversary this month.  Commemorating 20 years in business, WorldMark by Wyndham has successfully grown from a small product portfolio in Oregon to more than 70 resort properties throughout the United States, Canada, Mexico and the South Pacific and more than 270,000 owners.
“We’re very excited to celebrate this significant milestone anniversary within our Wyndham family,” said Franz Hanning, president and chief executive officer, Wyndham Vacation Ownership.  “It’s amazing to think that what originally began as a small credits-based vacation ownership company in the Pacific Northwest has evolved into one of the most prominent vacation clubs in the world.”

A Humble Start
In October 1989, WorldMark by Wyndham  (then known as Trendwest Resorts) recorded its first sale in Kirkland, Wash. and offered a very limited selection of vacation options – a two-bedroom town house in Eagle Crest, a two-bedroom condominium at the Inn at Otter Crest and a one-bedroom hotel suite at the Ashland Hills Inn.   Despite the limited options, the ease and flexibility of the credits-based program proved appealing to the first WorldMark, The Club owners.

“Being the first owner of a new timeshare concept was a little unnerving to say the least. But I knew it had success written all over it,” said Laurie Smith of Leavenworth, Wash.

As the first WorldMark, The Club owner who purchased in October 1989, Smith appreciates the flexibility of the credits-based program.  “What we love about being WorldMark owners is that the possibilities are endless!  We can go anywhere, anytime, for the rest of our lives!  It’s a canvas for memories to be made upon, whether it be a romantic getaway for my husband and me, or a family reunion, it is the ultimate gathering place.”

WorldMark would continue to expand its’ resort portfolio over the next ten years to include several highly sought after vacation destinations, including Bass Lake and Palm Springs, Calif.; Las Vegas and Tahoe, Nev.; Hawaii; San Jose del Cabo, Mexico; and Whistler, British Colombia.

A Growing Family
In 2000, WorldMark welcomed its 100,000th owner to the WorldMark, The Club family.  The company also debuted seven additional resort properties that same year, including WorldMark, The Canadian – the portfolio’s first urban property in Vancouver, British Columbia.  The company also began to span the globe with the introduction of Trendwest South Pacific, which is now known as Wyndham Vacation Resorts Asia Pacific, in Australia.

In the years following, the company would add another seven resort properties to the ever-growing portfolio, including WorldMark Steamboat Springs, WorldMark Lake of the Ozarks and WorldMark Branson.   In addition to resort development, the company also added a variety of owner benefits, including expansive owner education programs and online booking capabilities, to further enhance the vacation experiences of the growing WorldMark family.

In 2002, WorldMark by Wyndham was acquired by Cendant Corporation, which would spin off into four separate publicly traded companies in 2006.  One year later, as part of the Wyndham Vacation Ownership family, WorldMark would celebrate eclipsing 250,000 owner families.  Today, WorldMark by Wyndham continues to provide world-class vacations to more than 270,000 owners at more than 70 resort properties.

About Wyndham Vacation Ownership
Wyndham Vacation Ownership, a member of the Wyndham Worldwide (NYSE: WYN) family of companies, is the world’s largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests.  Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, Wyndham Vacation Resorts, WorldMark by Wyndham, and Wyndham Vacation Resorts Asia Pacific.   As of January 1, 2009, Wyndham Vacation Ownership had developed or acquired approximately 150 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent approximately 20,000 individual vacation ownership units and more than 830,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Fla., and is supported by approximately 13,800 employees globally.

Despite Downward Travel Trends, Timeshare Occupancy On The Rise at Wyndham Vacation Ownership

Bucking current travel patterns that continue to trend downward in nearly every segment of the hospitality industry, timeshare owners — particularly those participating in points–based programs — are still taking vacations.

According to Smith Travel Research, 2009 full–year hotel occupancy is projected to be 55.4 percent, a decline of 8.4 percent from 2008.* Wyndham Vacation Ownership (WVO), the world’s largest provider of points–based timeshare, has experienced no decline in year–over–year occupancy to date, despite the addition of nearly 1,300 condominium–style units to its portfolio in 2008. In fact, WVO resort occupancy was slightly up at about 75% across its network of more than 150 resorts from January through June over the same period in 2008. Advanced bookings are also up three percent for the balance of the year, further demonstrating that timeshare owners continue to vacation despite a weakened economy.

Points–based programs, such as CLUB WYNDHAMSM Plus and WorldMark, The Club, provide owners with an annual points or credits– based currency to select when and where they want to vacation — a contrast to traditional fixed–week timeshare, which locks vacationers into the same time, unit and location year after year.

“It stands to reason that if you’ve already paid for your vacations, chances are you’re taking one this year,” said Franz Hanning, president and chief executive officer, Wyndham Vacation Ownership. “With points–based timeshare, it’s as if someone hands you vacation cash each year to spend however and wherever you like.  Vacation excuses are pretty hard to find among timeshare owners.”

OCCUPANCY
Given the flexibility of Wyndham’s points–based programs, resort occupancies are a strong measure of where owners decide to travel. Hawaii, which is widely recognized as one of the world’s most renowned vacationing spots, continues to experience record lows in hotel occupancy — Wyndham’s timeshare occupancies remain level there. Perhaps more impressive, occupancy rates at select Wyndham timeshare resorts in traditionally popular vacation destinations, including Florida and Southern California, are up considerably year over year.** Points–based programs also enable owners to divide their time into multiple, shorter vacation stays throughout the year, mirroring recent consumer travel trends. Although a number of Wyndham owners are still flying to their next vacation, many are also opting to stay closer to home or travel to resorts located in drive–to or regional destinations.  WVO’s top 10 travel markets based on increased year–over–year** occupancy levels are —

Region                                     Occupancy***

Panama City Beach, Fla.               +12.4%

Destin, Fla.                                     +6.0%

San Diego, Calif.                            +5.3%

Bass Lake, Calif.                             +4.4%

West Yellowstone, Mont.               +4%

Palm Springs, Calif.                       +3.5%

Ft. Lauderdale, Fla.                        +2.7%

Branson, Mo.                                  +2.5%

Nashville, Tenn.                             +1.9%

San Antonio, Texas                        +1.6%

ABOUT WYNDHAM VACATION OWNERSHIP
Wyndham Vacation Ownership, a member of the Wyndham Worldwide (NYSE: WYN) family of companies, is the world’s largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, Wyndham Vacation Resorts, WorldMark by Wyndham, and Wyndham Vacation Resorts Asia Pacific.   As of January 1, 2009, Wyndham Vacation Ownership had developed or acquired approximately 150 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent approximately 20,000 individual vacation ownership units and more than 830,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Fla., and is supported by approximately 13,800 employees globally.

* According to “Smith Travel Lodging Research Review” Smith Travel Research published February 7, 2009.

**Year–over–year occupancy is defined as January — June 2008 vs. January — June 2009.

*** 2008 vs. 2009 year–to–date occupancy rates for the Wyndham Vacation Ownership resort portfolio, which includes Wyndham Vacation Resorts and WorldMark by Wyndham.

This edition features a leading European Finance Company as our Front Cover Sponsor, a look at the Baby Boomer market and how it will influence the timeshare and fractional industry and an exclusive interview with industry veteran, Franz Hanning, President & CEO, Wyndham Vacation Ownership.

EDITION HIGHLIGHTS Front Cover Sponsorship: HMC Funding Supplier Review: Products & Services Directory Private Residence Club: The Whiteface Lodge, Lake Pacid, New York Perspective A-list: Franz Hanning, President & CEO, Wyndham Vacation Ownership Luxury Hotel: Constance Le Prince Maurice, Mauritius Supplier Review: NorthCourse Developer Review: Hyatt Vacation Ownership Feature: Why The Boomers Now View Edition Online | Download To Hard Drive