Continuing its notable growth in the South Pacific, Wyndham Vacation Resorts Asia Pacific and Wyndham Hotel Group, both part of the Wyndham Worldwide family of companies (NYSE:WYN), today announced the purchase of a combination of hotel rooms, holiday apartments and penthouse suites together with the management rights for Wyndham® Resort Torquay.

The beachfront property located at 100 The Esplanade, Torquay, near Melbourne, Victoria was developed by Massey Pty Ltd as OnShore Torquay and formerly carried the Crowne Plaza flag. It will operate as Wyndham Resort Torquay starting today.

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Wyndham Worldwide (NYSE:WYN) has again been listed as one of FORTUNE Magazine’s Most Admired Companies for 2010.

For the third consecutive year, Wyndham Worldwide is a leader in their industry, scoring consistently on the Most Admired list in the hotels, casinos and resorts category. The Company, which is a little more than three years old, joins several other global organizations who were also named Most Admired in other categories, including Google, Johnson & Johnson, IBM and Honeywell International.

“For Wyndham Worldwide to once again be recognized by its peers and ranked so highly in our category is an honor,” said chairman and chief executive officer Stephen P. Holmes. “Given the challenges that 2009 presented, this news is especially gratifying. We are a company driven by our mission to be the leader in travel accommodations by welcoming our guests through our signature “Count on Me!” service. This valuable acknowledgement confirms that we are indeed headed in a great direction.”

To produce the listings, 15,000 top executives, directors and analysts were asked to rate all FORTUNE 1,000 companies in their own industry on eight criteria. A company’s score must rank in the top half of its industry survey to appear in the listing and only the best are listed as a Most Admired Company. The full list of companies will appear in next week’s edition of FORTUNE.

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 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.

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.

Wyndham Worldwide Corporation (NYSE:WYN) today announced that it will report fourth quarter and full year 2009 results Wednesday, February 10, 2010. Steve Holmes, Chairman and CEO and Tom Conforti, Executive Vice President and Chief Financial Officer, will host a conference call with investors to discuss the results at 8:30am ET that morning.

Listeners can access the webcast live through the company’s website at www.wyndhamworldwide.com/investors/. The conference call also may be accessed by dialing (800) 369–2052 and providing the pass code “Wyndham.” Listeners are urged to call at least 10 minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at 12:00pm ET on February 10, 2010. A telephone replay will be available for approximately 90 days beginning at 12:00pm ET on February 10, 2010 at (866) 490–2538.

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 7,040 franchised hotels and approximately 590,900 hotel rooms worldwide. Group RCI offers its 3.8 million members access to more than 73,000 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 150 vacation ownership resorts serving over 830,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,500 employees globally.

For more information about Wyndham Worldwide, please visit the company’s website at www.wyndhamworldwide.com.

Premier David Bartlett today officially opened the $21 million Wyndham Vacation Resorts Asia Pacific Seven Mile Beach calling the development another example of confidence in the Tasmanian economy.

“Tasmania was recently nominated by CommSec as the strongest economy in the nation. Tourism is part of our success story.

“This multi-million dollar investment by Wyndham resorts in Tasmania will open up our state to a whole new market of holiday owners.

“Evidence shows holiday ownership resorts attract people who tend to stay longer and explore more, which means a greater flow on to local businesses and injection into the economy,” Mr Bartlett said.

Wyndham Vacation Resorts Asia Pacific is part of Wyndham Worldwide, and the largest vacation ownership company in Asia Pacific. Wyndham Vacation Ownership has 43 000 owners and 19 ownership resorts in Australia, New Zealand and Fiji, and is part of a worldwide network of 145 resorts that service 800 000 owners in North America, the Caribbean and South Pacific.

The resort at Seven Mile Beach employs 35 Tasmanians. It has a total of 61 rooms, including 11 different room types. There is also a restaurant, bar, pool, outdoor spa, tennis court, playground, games room, gym, sauna and BBQ facilities.

“This is a development that reflects an authentic Tasmanian experience. Particularly welcome are the efforts that have gone into minimising the impact of the resort on the local environment,” Mr Bartlett said.

Inspired by the Wyndham Green initiative, an onsite horticulturalist has set up a program to restore the native habitat to the original ecosystem that would have characterised the site prior to colonial inhabitation.

“Tourism as an industry directly and indirectly supports about 11.2 per cent of Tasmania’s total employment which is nearly 3 per cent higher than the national average.

“Quality developments like this one at Seven Mile Beach will encourage even greater growth of this important sector.

“Since 2006 the State Government has boosted tourism funding by $32 million – this includes an additional $4 million announced recently.

“This Government has overseen a period of exceptional tourism growth.

“We will continue to support the tourism industry and build on the strong base that has been established under Labor,” Mr Bartlett said.

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.

Wyndham Worldwide Corp. said it has completed a term securitization transaction involving the issuance of $225 million of investment grade asset-backed notes by Sierra Timeshare 2009-1 Receivables Funding LLC, an indirect subsidiary of Wyndham’s Vacation Ownership subsidiary.

The notes are backed by vacation ownership receivables originated by subsidiaries of Wyndham Vacation Ownership.

Parsippany, New Jersey-based Wyndham Worldwide is a hospitality firm with around 7,000 franchised hotels and around 588,500 hotel rooms worldwide. The company’s Group RCI unit offers its 3.8 million members access to more than 73,000 vacation properties located in around 100 countries.

Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 150 vacation ownership resorts in North America, the Caribbean and the South Pacific.