Rapid Business Growth Spurs Expansion

ResorTime.com (www.ResorTime.com), among the largest providers of nightly timeshare condo rentals in the country, has boosted its office space over 25 percent since the beginning of 2011.

The company has more than two million nights of available rentals in their inventory in the USA, Canada, Ireland, Mexico, and Thailand. Steady growth in the company’s rental volume is driving the office expansion to accommodate the burgeoning sales-marketing team.

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Two key appointments by Club La Costa Resorts & Hotels (CLC) signal a strategic shift by the company to launch a mainstream holiday business focusing on rentals.

High profile travel industry figure Richard Carrick has a consulting role, he has been advising the company in a non-executive capacity since the end of 2010 and was active in bringing on board Martin Andrew, a former colleague at both Airtours and Going Places.

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 LeisureLink, Inc., the leading distribution and revenue management platform for specialty lodging suppliers, today announced the upgrade of the ABetterStay.com website. The website is wholly owned by LeisureLink and is marketed to consumers under the ABetterStay brand name.
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“Specialty Lodging inventory is unique and complex” said Steve Reich, Senior VP of Sales for LeisureLink. “So, we customized ABetterStay.com to showcase the unique inventory that our timeshare and vacation rental customers offer, thus improving conversion rates” Reich said. The enhancements to the site include a new look, comprehensive new search capabilities, and a new “Hot Deals” section that highlights great promotions across all markets.

In addition to a new look and feel, the upgraded site more effectively presents specialty lodging offers and showcases the great value and larger accommodations that specialty lodging suppliers offer.

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Global Connections, Inc. (www.exploregci.com) has selected Lou Anne Karlin to become General Manager of its Beso Del Sol Resort condotel in Dunedin, Florida. Karlin has more than six years experience in the hospitality arena focusing on property management and event planning.

“By utilizing Lou Anne’s expertise to promote onsite rentals, we are transforming the Beso Del Sol Resort into a highly popular destination for special gatherings,” commented Catherine Wunder, VP of Operations for Global Connections.

In addition to providing traditional property management services, Karlin has implemented a new marketing focus for resort rentals by soliciting guests for weddings, family and special events, corporate retreats and charitable causes.

Adds Karlin, “We are encouraging small and regional corporations along with non-profit groups to hold their events at the Beso Del Sol Resort. By offering such a beautiful venue, we have helped highlight many good causes and brought business to the City of Dunedin. In just a short time, we have welcomed corporate team-building gatherings and a televised cooking show. In June, Beso Del Sol will host the ‘Blooming Luau’ benefiting Blooming Place for Kids, a camp for children living in foster care.”

Global Connections was selected last year to handle property management services for the resort. Karlin and her staff provide all condominium maintenance and housekeeping services on behalf of the condo owners and manage the on-site rental and guest services office for owners desiring to participate in Global’s rental program.

Located on the West Coast of Florida, Beso Del Sol Resort is one of four company-owned resorts. After its purchase in July 2008, the waterfront property underwent a multi-million dollar renovation project of the nearly 80 units and common areas. The whole ownership condominiums include a mix of garden and Gulf-view studio units, as well as one- and two-bedroom condominiums, plus direct Gulf-front studio units. Amenities include two swimming pools, hot tub, waterfront sundeck, fitness center and private pier with boat slips, plus a tiki bar and grill. A waterfront venue for special events and corporate meetings is scheduled for a fall opening. Headquartered in Overland Park, Kansas, the 14-year old Global Connections’ (www.exploregci.com) travel club enjoys a membership base of over 150,000.

The company has developed and owns many of its properties like the Beso Del Sol Resort, with resorts currently located in Florida, California and Tennessee. Global Connections also owns multiple resort condominium units in Florida, Hawaii, Missouri, Nevada, South Carolina, Texas and Wisconsin.

WyndhamGreen’s Sustainability Effort Benefits Consumers and the Lives of Future Generations

Wyndham Worldwide (NYSE:WYN), one of the world’s largest hospitality companies, with its commitment to global sustainability proudly announces “WyndhamGreen Kids,” a program designed to teach children ages three to fourteen about our environment, our community, and our world. Children from all around the world will be able to learn how to take care of our planet using our six core strategies: Energy conservation, Water conservation, Recycling/re-using, Education, Community Involvement, and Innovation.

Wyndham Worldwide is celebrating Earth Day by educating kids about sustainability locally at its headquarters in Parsippany, NJ as well as nationally through the WyndhamGreen Kids website where children can find workbook activities and hands-on activities arranged by their local environmental organizations.

“We are proud to be one of the first hospitality companies to launch a dedicated sustainability program for children,” said Faith Taylor, Wyndham Worldwide vice president, sustainability and innovation. “This program is just one pillar of Wyndham’s overall commitment to sustainability. As a global company, we are committed to conserving resources, preserving natural habitats and preventing pollution in order to meet the needs of our customers and the lives of future generations.”

WyndhamGreen by Wyndham Worldwide, the company’s recently launched sustainability program, is seizing the opportunity to manage energy consumption as a part of the Company’s overall green strategy across its businesses and brands, which together encompass nearly 70,000 properties in 100 countries. Due to its numerous brands, properties and distribution points, WyndhamGreen is expected to have a large impact on the Company’s overall carbon footprint.

The recently released WyndhamGreen Global Best Practices document showcases the company’s initiatives in energy and water conservation, recycling, education, community programs and innovation. Kicking off the company’s commitment is Wyndham Worldwide’s Silver LEED certified 250,000-square-foot headquarters, located in Parsippany, New Jersey. The building is expected to reduce water, energy and waste by 10 to 30 percent. The Company also recently received the “Green Pioneer” award from ConEdison Solutions for purchasing 100 percent of the building’s electricity from wind generation.

Wyndham Hotel Group, the world’s largest hotel company with more than 7,000 hotels and 11 brands, is implementing the EarthSmart linen reuse program to save resources and operational costs. The company’s Super 8®, Howard Johnson®, Travelodge®, Days Inn® and Ramada® brands currently participate.

The Wyndham Hotels and Resorts brand developed uniforms spun from recycled plastic bottles. Each uniform requires 66 percent less energy and 90 percent less water to produce than a standard uniform. The upscale hotel chain’s Wyndham ClearAir(sm) initiative features allergy-friendly rooms designed at improving air quality. The Wyndham chain also incorporates ecologically-friendly initiatives including use of energy-efficient compact fluorescent lighting; low-flow water practices; EarthSmart guest linen reuse program; Starbucks® organic coffees in its restaurants; guestroom key cards made from recycled material; biodegradable guest laundry bags; and numerous recycling efforts.

Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, saved 1.3 million kilowatts annually at its Parsippany headquarters and Indianapolis call center by replacing lighting fixtures and bulbs and installing motion sensors to control lighting and heating, ventilation and air conditioning units. Last year, RCI was the first in the vacation exchange industry to begin printing all of its resort directories and Endless Vacation magazines for members on FSC (Forest Stewardship Council) paper. RCI also converted vacation confirmations and notifications to members from direct mail to e-mail, saving more than 5 million pieces of paper and an estimated 435 trees.

Wyndham Vacation Ownership, the world’s largest vacation ownership business, provides low- and no-phosphate laundry and dish detergent in its resorts, an initiative that has reduced pollutants by 90,000 pounds since its inception in 2008.

Wyndham Vacation Ownership’s Asia Pacific division developed a sustainable destination resort on the Australian island Tasmania that practices conservation of biodiversity and restoration of the natural habitat. The resort utilizes a state-of-the art wastewater treatment plant, and its villas were designed to resemble sea shells to fit into the environment.

Globally Wyndham Worldwide received recognition in Two Tomorrows Top 10 Sustainable rankings. In Europe, Wyndham’s Exchange & Rental Holiday Cottages Group was awarded the Green Tourism Business Scheme (GTBS) Silver Award, which is the United Kingdom’s recognition for green tourism. While in the United States, Wyndham was named to Newsweek’s Green Ranking as one of the top 100 greenest companies in America and was just recently announced as a finalist in the USGBC’s fourth annual “Building a Greener New Jersey” award, which will be announced on May 20, 2010. Wyndham Worldwide is one of three finalists in the Corporate Commitment category.

About Wyndham Worldwide Corporation
As one of the world’s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company’s web site at www.wyndhamworldwide.com.

Trading Places International (TPI) holds an A+ national accreditation rating – the highest honor achieved from the Better Business Bureau (BBB).

Ratings are determined by a formula in accordance with the BBB’s guidelines, which encompass the importance and the appropriate “score” for each category, including experience, operation time, advertising, complaint history, and accreditation.

In order to achieve such a prestigious rating, Trading Places has shown its worth as an honest and reliable company, acknowledging consumer complaints and promptly resolving problems for over 36 years.

“We’re pleased to join such an elite group of hospitality service businesses in the BBB accreditation system,” said RJ Jackson, TPI President. “We will strive to meet the BBB’s high expectations, and continue to exceed those of our customers.”

Trading Places International is a 36-year veteran of the travel and vacation ownership industries. It is the only vertically-integrated, independent timeshare company providing full service resort/association management, timeshare rentals and exchanges, and travel agency services. It currently oversees more than 71,000 timeshare owners at over 30 resort locations in Hawaii, Mexico, South America, and mainland United States. www.tradingplaces.com

The Vacation Ownership Calculator – a handheld device that calculates Future Vacation Cost and provides precise estimates of the cost of vacation ownership versus nightly hotel rentals – is a salesperson’s best friend and a valuable closing tool.

Every vacation ownership salesperson knows the importance of representing the costs of rentals versus ownership when presenting a timeshare or other shared-ownership vacation product. But it is indeed a rare individual who can do all of the required math in his or her head – an even so, it’s important to show the prospective owner the calculations as they are being done.

The Vacation Ownership Calculator™ does just that, and is easily kept in a pocket for ready availability. No more putting off the calculations – you can do them exactly when you need to without the need for a desk, paper or a computer.

The Vacation Ownership Calculator is the industry’s first ever handheld calculator designed with specific functions used in the sale of timeshare or other vacation ownership products. It does all of the normal functions of a real estate calculator, including loan amount, interest, term, and payments, but also will accurately perform a rent versus own, including the rate of inflation. The Vacation Ownership Calculator will give any customer an exact figure of their Future Vacation Cost™ over time including Inflation. This is what sets our calculator apart; 95% of all timeshare sales reps are unable to accurately give a customer the exact figure for the Future Vacation Cost, including inflation.

At the low price of only $29.99, The Vacation Ownership Calculator is priced below an average mortgage or real estate calculator and can do all of the following:

• Make sure your sales representatives are providing accurate rent-versus-own estimates to prospective buyers. Rent versus own is made simple and easy!
• Accurately compare the cost of owning a timeshare versus the consumer’s current form of vacation over time with inflation and all fees.
• Performs equations to provide basic loan amounts, payments and interest that a sales manager needs to close deals.
• Determine the cost of food and beverages spent over time while vacationing.
• Perform any other equations as needed.

And by doing all of that, the Vacation Ownership Calculator can also:
• Increase sales.
• Increase closing percentages.
• Increase volume per guest (VPG).

Even if your company already has expensive computer programs or touch screens, the pocket-sized calculator can complement them by being handy for use by the reps whenever needed, such as by the pool, in the model, at the desk, on the front end, on the back end, or by the TO when closing a deal.

How the Calculator Works
The Vacation Ownership Calculator has a trademarked function that will ask your clients the number of nights they will vacation per year, the amount per night they spend on accommodations, the number of years they will vacation and the rate of inflation on these accommodations, giving you a fully customizable and accurate answer to the cost of their future vacations.

This gives your staff the edge they need to get a commitment on vacation dollars at a much-higher amount. Sales representatives using the Vacation Ownership Calculator will see immediate results with larger sales, raising your VPG.

The Vacation Ownership Calculator in Action
The following is a scenario in which a potential vacation owner’s numbers are calculated – in the first case using traditional methods, and in the second using the Vacation Ownership Calculator:

Traditional Calculations:
Number of nights per year: 21
$ per night: $100
Years to Vacation: 20
Future Vacation Cost: $42,000

Vacation Ownership Calculator:
Number of nights per year: 21
$ per night: $100
Years to vacation: 20
Rate of Inflation: 7%
Future Vacation Cost: $86,090.53

With our calculator just look at the difference of the level of commitment in money – the difference is clear to the salesperson and the potential owner, and will increase sales, raise closing percentages, and raise VPGs. It almost goes without saying, but it is definitely much easier to sell vacation ownership with a huge difference in a rent versus own and Future
Vacation Cost. What’s more, says Vacation Ownership Calculator CEO Bryan Phillips, “any new sales tool can also simply motivate your line.”

The Vacation Ownership Calculator is used by individual salespeople throughout the industry, including sales staff members at the following resort developers:

• Aviawest
• Bluegreen Resorts
• Coral Resorts
• Diamond Resorts
• Disney Vacation Club
• GeoHoliday
• Hilton Grand Vacations
• Holiday Inn Club Vacations
• Marriott Vacation Club
• Palace Resorts
• Shell Vacations Club
• Spinnaker Resorts
• Starwood Vacation Ownership
• Summer Bay Resorts
• Westgate Resorts
• Wyndham Hotels & Resorts

“All sales reps carry a calculator, so why not have one designed specifically for the industry?,” asks Phillips, who has been in the industry eight years and was part of a team of sales reps and managers in Hilton Head, South Carolina who created the Vacation Ownership Calculator.

In addition to aiding in new sales, the Vacation Ownership Calculator is popular with vacation club, in-house and other trade-in and resales reps, who appreciate the fact they can use the calculator to show the amount of money people will be spending on maintenance fees over time with inflation.

The bottom line is this: If you’re a salesperson, get the Vacation Ownership Calculator today and start seeing increased sales tomorrow. And if you’re a sales manager or director, purchase Vacation Ownership Calculators for your entire sales staff and start seeing better numbers across the board right away.

The Vacation Ownership Calculator is one of the simplest, most-straightforward and least-expensive ways to improve sales and closing percentages – plus, there’s no training required and no learning-curve lag time. Just results and a great return on your investment.

The Vacation Ownership Calculator is available direct from the manufacturer at www.vacationownershipcalculator.com, as well as on Amazon (www.amazon.
com) for only $29.99.

For more information on the Vacation Ownership Calculator, visit www.vacationownershipcalculator.com or contact Bryan Phillips, an ARDA-certified supplier, at 843-385-9836 or bpphillips@yahoo.com.

When Sell My Timeshare NOW, a company recognized as a leader in by-owner timeshare resales and timeshare rentals, launched a full service timeshare Rental Assist program, they started small. As CEO Jason Tremblay admits, the timeshare company was not sure if its market would be interested in assisted timeshare rental services. Many of the 2 million-plus consumers who visit the company’s websites each month do so because they either are timeshare owners wanting a low cost way to sell or rent timeshare or are vacationers looking for great deals in vacation ownership and vacation rentals. Most timeshare owners using their properties as timeshare rentals buy ads on the company’s high-visibility websites and handle the timeshare rental process themselves.

Tremblay says, “Over the years, Sell My Timeshare NOW has added timeshare broker services in response to buyers and sellers who want the assistance of a licensed real estate agent in the timeshare sales transaction. Our timeshare Rental Assist program began as a pilot to see if timeshare owners would also be interested in professional help with the rental process.”

With more than $2.6 million in timeshare rentals completed last year by the Sell My Timeshare Rental Assist brokerage team of trained professionals, the company is confident it has developed a program that successfully fills a targeted need. Lucas Lanigan, Rental Sales Director, says, “By-owner timeshare rental is an excellent way to rent timeshare. But for some timeshare owners, there is a better solution. With Rental Assist, our team of experienced timeshare real estate professionals match timeshare owners with timeshare renters, handling every detail of the process—turnkey service for the timeshare owner.” In 2009, 1,450 timeshare owners rented their timeshare through this program for an average weekly rental rate of $1,808, which is more than triple the average owner’s maintenance fee.”

Lanigan, who heads the Rental Assist program, was a top producer for New England’s InnSeason Resorts in-house sales division, Project Director at the Harbor Ridge Resort in Southwest Harbor, and a leader in sales and marketing for Festiva Resorts in Orlando, Florida, selling RCI Points. Like others on his team, Lanigan knows the timeshare industry inside and out and understands how to serve the needs of both timeshare owners and timeshare renters. Lanigan explains, “1,450 families enjoyed timeshare rental vacations last year because our Rental Assist team was able to get them the destination and price they wanted for their vacation during the dates that matched their schedule. Personalized service for the timeshare renter and worry-free, comprehensive service for the timeshare owner, and we are just getting started. In 2010, we expect to see timeshare Rental Assist soar, as timeshare owners recognize its value.”

ABOUT: With offices in Dover, New Hampshire and Orlando, Florida, SellMyTimeshareNOW.com offers proven success in timeshare resale and rental advertising and timeshare brokerage. The company was recognized in 2008 and 2009 by Inc.com as one of the fastest growing, privately held companies in the US. SellMyTimeshareNOW also offers resorts, HOAs and developers a new and effective channel for rental.

Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months and year ended December 31, 2009. Separately, the Company also announced an increase in its quarterly cash dividend and that it plans to resume its share repurchase program.

FOURTH QUARTER and FULL-YEAR HIGHLIGHTS:
Wyndham Worldwide generated fourth quarter diluted earnings per share (EPS) of $0.40, compared with Company-issued guidance of $0.35 – $0.38. For the year ended December 31, 2009, the Company generated net cash from operating activities of approximately $690 million, compared with $109 million in 2008.

“We are pleased to report solid earnings and increasing free cash flow for the quarter and the year, and to announce an increase in our dividend along with our intention to resume our share repurchase program. While continuing high unemployment and economic uncertainty created a difficult operating environment, our results reflect resilient business models and strong execution,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. “Going forward, we remain focused on cash flow generation, transforming the Company by rebalancing our worldwide business portfolio to our fee-for-service businesses and positioning our businesses for future earnings growth.”
Increases Quarterly Dividend Payout

The Company’s Board of Directors authorized an increase of the quarterly cash dividend to $0.12 from $0.04 per share, beginning with the dividend that is expected to be declared in the first quarter of 2010. With this increase, the dividend is equivalent to an annual rate of $0.48 per share.

Resumes Share Repurchase Program
The Company plans to resume repurchase of its common stock under its existing $200 million stock repurchase program, which currently has $157 million remaining capacity. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.

FOURTH QUARTER 2009 OPERATING RESULTS
Revenues for the fourth quarter of 2009 were $913 million, relatively flat compared with the prior-year period. Net income for the fourth quarter of 2009 was $73 million, or $0.40 diluted EPS, compared with a fourth quarter of 2008 net loss of $1.4 billion, or $7.63 loss per diluted share. The prior-year period includes the after-tax impact of $1.4 billion, or $8.10 per diluted share, of goodwill impairments, foreign currency losses, restructuring costs and legacy items. Excluding these items, adjusted net income would have been $84 million, or $0.47 diluted adjusted EPS for the fourth quarter of 2008.

FULL YEAR 2009 OPERATING RESULTS
Revenues for full year 2009 were $3.8 billion, a decline of 12% over the prior-year period, reflecting the following:

* Lodging revenues were $660 million, a 12% decrease compared with 2008, primarily resulting from a global decline in revenue per available room (RevPAR).

* Exchange and Rentals revenues were $1.2 billion, an 8% decrease compared with 2008, primarily resulting from unfavorable foreign exchange rate movements. In constant currency, revenues declined 2%.

* Vacation Ownership revenues were $1.9 billion, a 15% decrease compared with 2008, primarily resulting from the Company’s previously announced initiative to reduce capital deployed in the business, which included sales office closures and the elimination of certain marketing programs that resulted in fewer tours.

Net income for full year 2009 was $293 million, or $1.61 diluted EPS, compared with a prior-year period net loss of $1.1 billion, or $6.05 loss per diluted share. Adjusted net income for full year 2009 was $327 million, or $1.80 diluted EPS, compared with adjusted net income of $388 million, or $2.18 diluted adjusted EPS for full year 2008. Adjusted net income for full year 2009 excludes the after-tax impact of $34 million, or $0.19 per diluted share, of restructuring costs and legacy items. Adjusted net income for the prior-year period excludes the after-tax impact of $1.5 billion, or $8.23 per diluted share, of goodwill and other impairments, foreign currency losses, restructuring costs and legacy items.

FOURTH QUARTER 2009 BUSINESS UNIT RESULTS
Wyndham Hotel Group
Revenues were $149 million in the fourth quarter of 2009, a decline of 12% compared with the fourth quarter of 2008, primarily reflecting the global RevPAR decline.

System-wide RevPAR declined 11.9% in the fourth quarter of 2009. In constant currency, fourth quarter 2009 system-wide RevPAR decreased 13.3%, reflecting declines of 13.8% and 15.4% in domestic and international RevPAR, respectively.

Fourth quarter 2009 EBITDA was $32 million, compared with $38 million in the fourth quarter of 2008, which included a $16 million non-cash impairment charge. The yearover- year change reflects the global RevPAR decline, increased bad debt reserve primarily related to the hotel management business, and a non-cash impairment charge associated with an underperforming joint venture in the hotel management business, partially offset by cost containment initiatives.

As of December 31, 2009, the Company’s hotel system consisted of approximately 7,110 properties and 597,700 rooms, of which 22% were international. The development pipeline included approximately 950 hotels and 108,100 rooms, of which 51% were new construction and 43% were international.

Wyndham Exchange and Rentals
Revenues were $258 million in the fourth quarter of 2009, a 3% increase compared with the fourth quarter of 2008. In constant currency, revenues were relatively flat.

Annual dues and exchange revenues were $106 million, a 5% increase from the prioryear period. In constant currency, revenues increased $2 million, or 2% compared with the fourth quarter of 2008, driven by a 2% growth in the average number of members.

Vacation rental revenues were $122 million, an 8% increase from the prior-year period. In constant currency, revenues increased $2 million, or 2%, compared with the fourth quarter of 2008, primarily driven by a 3% increase in average price per vacation rental, partially offset by a 1% decrease in rental transaction volume.

Ancillary revenues were $30 million, a 17% decrease from the fourth quarter of 2008. In constant currency, revenues decreased 19% due primarily to lower fees generated from programs with affiliated resorts and our termination of a low margin travel service contract.

Fourth quarter 2009 EBITDA was $48 million, compared with a loss of $4 million in the fourth quarter of 2008, which included $67 million of asset impairments, foreign currency conversion losses and restructuring costs. Excluding these items and an unfavorable 2009 net effect of foreign currency of $15 million, 2009 EBITDA was flat, compared with 2008 adjusted EBITDA.

Wyndham Vacation Ownership
Driven by the previously announced initiative to reduce capital deployed in this business, gross vacation ownership interest (VOI) sales declined 21%, from the prioryear period, to $343 million in the fourth quarter of 2009. The year-over-year change reflects a 36% increase in volume per guest which partially offset the planned reduction in tour flow of 41%.

Total segment revenues were $508 million in the fourth quarter of 2009, a 3% increase from the fourth quarter of 2008. This change was driven by a decline in our provision for loan losses, a favorable impact from the percentage-of-completion (POC) method of accounting and higher ancillary revenue, partially offset by lower VOI sales. Under the POC method of accounting for VOI sales, the Company recognized $47 million of previously deferred revenue during the fourth quarter of 2009, compared with $14 million in the fourth quarter 2008.

EBITDA for the fourth quarter of 2009 was $132 million, compared with a loss of $1.3 billion in the fourth quarter of 2008, which included $1.4 billion of goodwill, other impairments and restructuring costs. Excluding these items, 2009 EBITDA increased $41 million, compared with the prior-year period, reflecting the net impact of the planned reduction in the VOI business and its related expenses, a lower provision for loan losses, and the impact from the net increase in the recognition of revenue previously deferred under the POC method of accounting.

Other Items
Net interest expense in the fourth quarter of 2009 was $33 million, a $15 million increase from the fourth quarter of 2008. The increase reflected lower capitalized interest and long-term debt issuances in May 2009, the proceeds of which were used primarily to reduce revolving credit facility borrowings, which had a lower interest rate.
Balance Sheet Information as of December 31, 2009:

* Cash and cash equivalents of approximately $155 million compared with $135 million at December 31, 2008
* Vacation ownership contract receivables, net, of $3.1 billion compared with $3.3 billion at December 31, 2008
* Vacation ownership and other inventory of $1.3 billion, unchanged from December 31, 2008
* Securitized vacation ownership debt of $1.5 billion compared with $1.8 billion at December 31, 2008
* Other debt of $2.0 billion, unchanged from December 31, 2008; remaining borrowing capacity on the revolving credit facility was approximately $870 million compared with approximately $290 million as of December 31, 2008

A schedule of debt is included in the financial tables section of this press release.

Guidance
The Company’s full-year 2010 guidance is:

* Revenues of $3.5 – $3.9 billion
* Adjusted EBITDA of $775 – $825 million

The guidance reflects assumptions used for internal planning purposes. All guidance excludes legacy items and restructuring costs, if any, which may have a positive or negative impact on reported results. If economic conditions improve or deteriorate materially from current levels, these assumptions and our guidance may change materially. It is not practicable to provide a reconciliation of forecasted adjusted EBITDA to the most directly comparable GAAP measure because certain items cannot be reasonably estimated or predicted at this time. Any such items could be

Financial information discussed in this press release includes both GAAP and non- GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported results and are intended to illustrate what management believes are relevant period-over-period comparisons. A complete reconciliation of reported GAAP results to the comparable non-GAAP information appears in the financial tables section of the press release.

About Wyndham Worldwide
As one of the world’s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange and Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company’s web site at www.wyndhamworldwide.com.

ResorTime.Com, rapidly becoming the go-to source for spacious vacation condominium rentals announced the launch of a new look for its quarterly newsletter.  The online publication will provide the latest news about ResorTime.com, membership information, promotions, contests, specials and deals.

“With over 300 resorts and thousands of visitors to our site monthly, we thought it was about time we started to provide travel tips and educate our users on numerous subjects including how to make the most of ResorTime.com, what to look for in particular destinations, family travel do’s and don’ts and so on,” said Sherri Weeks, General Manager of ResorTime.Com.

ResorTime fans are used to receiving weekly e-blasts which are predominantly price driven. The company will still keep these in the marketing mix, but is now expanding to be offer more topics of interest to the general consumer.

The inaugural edition of the newsletter features such subjects as Lake Tahoe as the Destination Spotlight, popular topics like the recent promotion winners for the Best Resorts of 2009, tidbit facts about traveling, polls, condo rental tips and more.  It also incorporates ResorTime.Com favorites such as Hot Deals and Cheap Deals.

To subscribe to the quarterly newsletter and receive amazing travel deals and promotions, sign up online at www.ResorTime.com.

ResorTime.com has hundreds of luxury resorts worldwide for nightly and weekly rentals that accommodate leisure, business and group travel. Reservations at ResorTime.Com are at www.ResorTime.com or by calling 877-477-7368.