RCI, the worldwide leader in vacation exchange, and The Registry Collection program, the world’s largest luxury holiday exchange program, will organize and co-sponsor three Shared Holiday Ownership Workshops in 2012. The workshops provide essential information for those involved in the shared holiday ownership industry or anyone interested in entering the field. The first workshop takes place in Istanbul, Turkey, on February 6, followed by workshops in Edinburgh, Scotland (April 25) and Vienna, Austria (May 22).

“We are proud to be organizing and co-sponsoring the Shared Holiday Ownership Workshops in 2012,” said Sean Lowe, managing director, EMEAI, RCI. “At RCI, we value education and lively discussion surrounding industry topics, and the interactive programs for these three workshops will provide new information and perspectives to all attendees.”

Topics covered at these workshops will include:

• Why shared holiday ownership?
• The range of shared holiday ownership options including timeshare, fractional and mixed-use models
• How shared holiday products work
• Legal structures
• Efficient and effective sales and marketing
• Customer care

The workshops boast an impressive lineup of speakers who will make appearances in at least one of the workshops, including: Dimitris Manikis, RCI; Paul Mattimoe, Perspective International; Philip Bacon, HVS; Christopher Allen, Hutchinson & Co Trust Company; Eric Gummers, Howard Kennedy; Piers Brown, Fractional Life; Lisa Migani, FNTC; Philip Broomhead, FNTC; and Ioannis Verdelis, Best International.*

The co-sponsors of the workshops are HVS, FNTC, Howard Kennedy, Best International and Citadel.

Visit www.SHOWorkshops.com for more information and booking forms.

*  Speakers may be subject to change

About RCI
RCI is the worldwide leader in vacation exchange with over 4,000 affiliated resorts in approximately 100 countries. RCI pioneered the concept of vacation exchange in 1974, offering members increased flexibility and versatility with their vacation ownership experience. Today, through RCI^® Weeks, the traditional week-for-week exchange system, and RCI Points^®, the industry’s first global points-based exchange system, RCI provides flexible vacation options to its 3.7 million RCI subscribing members each year. RCI is part of Wyndham Exchange & Rentals and the Wyndham Worldwide family of brands (NYSE: WYN). For additional information visit our media center, rciaffiliates.com or The RCI Blog. RCI also can be found on Facebook, YouTube and Twitter.

About The Registry Collection program

The Registry Collection program is the world’s largest luxury exchange program comprising over 33,000 members and more than 160 affiliates on six continents. More than 180 properties are available through The Registry Collection program and are either accessible for exchange or under development. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection program provides members with access to an elite network of the finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24 hours a day. The Registry Collection program is offered by RCI, the worldwide leader in vacation exchange and part of the Wyndham Worldwide family of brands (NYSE: WYN). For additional information visit our media center or theregistrycollection.com.

RCI, the global leader in vacation exchange and part of the Wyndham Worldwide family of companies (NYSE:WYN), is slated to host the Shared Ownership Conference on Jan. 10, 2012 at JW Marriott, Mumbai. The conference aims to help audiences discover the key to turning assets into opportunities as it delves into the shared ownership industry in detail.

The day-long conference will be an essential forum for hoteliers, resort owners, real estate developers, investors and hospitality consultants to understand and explore the benefits of shared ownership and the ways in which it can be successfully integrated into leisure real-estate developments to maximize the revenue potential of available assets.

“RCI was early to advance the case for timeshare development in India,” said Geoff Ballotti, CEO, RCI. “And the tremendous success that RCI’s affiliates have experienced across the country over the past 20 years confirms the opportunity for all developers of real estate to explore the many benefits that shared ownership has to offer. Our operations, marketing and business development teams in our offices across India remain more committed than ever to helping our developers capitalize on the significant demand for their vacation offerings and services that is growing in India today.”

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RCI and The Registry Collection have been confirmed as Platinum sponsors for the 2011 Shared Ownership Fractional Summit Middle East, which will be held at Dubai’s Burj Al-Arab on 21 November. Unofficially billed as the world’s only seven-star hotel, the Burj Al-Arab is the ideal venue for an event focusing on the world’s five-star property market.

Event organiser Fractional Life launched the Summit last year to focus on the MENA region’s huge potential for shared ownership in all its forms, and the speaker list included luminaries from the region’s fractional real estate, timeshare and fractional yacht sectors. The Summit is designed to promote awareness of shared and fractional ownership real estate in the MENA region, and to enable industry professionals to make new business contacts and share best practice.

Dimitris Manikis, Vice President, Business Development, Europe and the Middle East, said: “We’re delighted to be sponsoring the Shared Ownership Fractional Summit Middle East for the second year. The MENA region has huge potential for shared ownership in all its various forms, and the conference will enable both experienced industry professionals and potential newcomers to the sector to get together, make new contacts and share their experiences in a truly stunning location.”

The inaugural event was held at the spectacular Yas Hotel in Abu Dhabi, and attracted delegates and speakers from the major hospitality groups such as Marriott Vacation Club, The Hideaways Club, Arabian Falcon, Trinity Yachts, Citadel Trustees, HVS Hospitality Services and the écurie25 supercar club.

Fractional Life events manager Tracey Carter said: “We set the bar last year by hosting an innovative new conference at the stunning Yas Hotel in Abu Dhabi. “This year we will deliver an even better event at the awe-inspiring Burj Al Arab, one of the world’s best known hotels and the Gulf’s most iconic building.” For speaker and sponsorship opportunities, please contact Piers Brown.

RCI and Branson’s Nantucket, LLC today announced that Branson’s Nantucket Resort in Branson, Mo., has affiliated
with RCI, the worldwide leader in vacation exchange. As part of this affiliation, Branson’s Nantucket plans to offer its owners RCI Points PlatinumSM membership, a new premium membership and enhancement to the RCI Points® program, currently under development, that will offer exclusive exchange and lifestyle benefits to subscribing members.

“We are very pleased to welcome Branson’s Nantucket into the RCI network,” said Gordon Gurnik, president of RCI North America. “As Branson is a national destination that offers fantastic vacation experiences, this beautiful resort is a tremendous addition to the collection of top vacation options we offer to our RCI subscribing members.”

Branson’s Nantucket is a lakefront resort that offers outstanding views of Table Rock Lake. All homes are Nantucket-themed with two-, three- and five-bedroom options that sleep up to 14 people. Located only minutes from the  “Branson Strip,” each fully-equipped home offers gourmet kitchens, washers and dryers and living rooms that include fireplaces and plasma TVs. Each home also offers a viewing area of the Widows Walk that can be accessed by a private elevator.

“RCI invented the timeshare exchange business over 35 years ago and has been the innovator and leader ever since,” said Richard C. Huebner, vice president of sales and marketing, Branson’s Nantucket. “Their diverse selection of resorts the world over deliver high quality vacations to their members. Being associated with RCI was important to Branson’s Nantucket. Furthermore, RCI offers exciting technological resources and marketing advantages for us as well as a large selection of vacation resorts for our timeshare owners. We are very pleased to be working with them.”

RCI recently announced its plan to launch the RCI Points Platinum membership that will offer its members’ exclusive “first look” exchange access to specially acquired inventory around the world, opportunities for free unit upgrades and cash back rewards for certain RCI transactions. In addition, RCI plans to extend unique lifestyle benefits to RCI Points Platinum members that will include advance access to popular Broadway style theater experiences, preferred pricing or discounts of up to 50 percent at hundreds of golf courses and dozens of the most popular ski mountains in North  America and savings benefits of up to 50 percent on spa experiences, and more.

About RCI
RCI is part of Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in  approximately 100 countries. Wyndham Exchange & Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham  Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit our media center.

About Branson’s Nantucket
Branson’s Nantucket is the newest luxury resort offering stunning views of Table Rock Lake. Branson’s Nantucket is perfectly suited for vacationers of all ages and offers a wide variety of fractional ownership packages to suit everyone’s traveling needs. Located just minutes from Highway 76, know as “the Strip” in Branson, Branson’s Nantucket is perfectly situated for outings to Branson’s multiple theaters, restaurants, shopping malls and family activities. Everyone is always welcome at Branson’s Nantucket, Branson’s finest luxury vacation homes.

World’s largest vacation exchange company delivers first quarter earnings growth through superior execution and strength of its business model

RCI, the global leader in vacation exchange and one of the Wyndham Worldwide family of brands (NYSE: WYN), announced that it added 32 new resorts, including five resorts from existing affiliations, to the world’s largest vacation exchange network in the first quarter of 2010. The additions include five resorts under construction as well as three from The Registry Collection® program, the world’s largest luxury exchange program and one of the three worldwide exchange programs under the RCI® umbrella.

“Developers understand the importance of working with a quality exchange company that provides valuable services to help them increase sales and lower marketing costs, especially in today’s economy,” said Geoff Ballotti, CEO, RCI.

“Whether it’s through technology or product innovations, RCI continues to demonstrate the value it offers to its affiliates worldwide. In just four months we surpassed the one millionth click-through from RCI.com to our developers’ websites and we’re very focused on helping to drive new leads and new business to our affiliates. In addition to the work we continue to do on RCI.com to get the word out about our great industry, we were also very pleased to announce this quarter the launch of RCI Points PlatinumSM membership, a new premium membership that will offer exclusive exchange and lifestyle benefits to subscribing members.”

Following the addition of 100 resort affiliations in 2009, RCI announced a new agreement earlier in the quarter with InnSeason Resorts, one of the most well-known vacation brands in New England, and most recently in April, RCI  announced the addition of nine new resort affiliations across Indonesia, Malaysia and Vietnam.

Continuing its work as a technology leader and innovator, RCI recently unveiled an RCI® application for the iPhone® and iPod touch® mobile digital devices which is also now available on the iPadTM. The RCI TV feature, currently  available through the Apple Store® retail store services, grants users immediate access to the quality destination videos currently available on RCI.com that they can then share or save. The RCI SnapBook™ feature allows users to capture pictures, videos, voice memos and texts on their iPhone during a vacation, with the application automatically logging when and where the event took place. RCI also launched a YouTube Channel that contains over 50 quality resort videos from RCI TV that showcase RCI affiliated properties around the world. From this site, visitors can link directly to RCI.com and back to the affiliated resort to view rich video content on the resort they are interested in along with information that further educates the public on the benefits of vacation ownership.

“RCI is constantly working to develop new and exceptional marketing and technology ideas that both benefit our affiliates and improve the member experience,” added Ballotti. “It’s what our affiliates and members have come to expect from us and it’s what we plan to continue to deliver.”

iPhone®, iPod® , and Apple Store® are registered trademarks of Apple Inc and iPadTM is a trademark of Apple, Inc. This press release is an independent announcement and has not been authorized, sponsored or otherwise approved by Apple Inc.

About RCI
RCI is part of Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange & Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit our media center.

Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Worldwide family of companies (NYSE: WYN), today announced it was named one of the 2010 ‘Best Places to Work’ in New Jersey at a ceremony held last Thursday evening at the Hilton East Brunswick.

“We are both honored and humbled to be recognized as one of the Best Places to Work in New Jersey where our global headquarters is located,” said Geoff Ballotti, president and CEO, Wyndham Exchange & Rentals. “It is because of our passionate, dedicated and incredibly enthusiastic associates that we continue to generate tremendous engagement and a caring community culture throughout our offices here in New Jersey and around the world.”

Created in 2005 by NJBIZ, the award was designed to identify, recognize and honor the best places of employment in New Jersey that benefit the state’s economy, workforce and businesses. The 2010 Best Places to Work in New Jersey program consisted of 55 companies split into two groups: 30 medium-sized companies (25-249 employees) and 25 large-sized companies (more than 250 employees), the category in which Wyndham Exchange & Rentals was honored.

To be considered for participation, companies had to fulfill the following eligibility requirements:
• Have at least 25 employees in New Jersey
• Be a for-profit or not-for-profit business or government entity
• Be a publicly or privately held business
• Have a facility in the state of New Jersey

Companies from across the state entered a two-part process that determined the top companies and final rankings. The first part consisted of evaluating each nominated company’s workplace policies, practices and demographics, and the second part consisted of an employee survey to measure the employee experience.

“We are also honored that our Indianapolis location was named among the top companies to work for in Indiana in 2010 for the second year in a row,” added Ballotti. “Our companywide service platform, Count On Me!, places an emphasis on being responsive, respectful and delivering a great experience to all those we work with and serve. It is this platform, backed by the most passionate people in the industry that enables us to truly differentiate ourselves from other companies.”

About Wyndham Exchange & Rentals
Wyndham Exchange & Rentals, part of the Wyndham Worldwide family of companies (NYSE: WYN), is the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange & Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit our media center.

New Affiliations Show Growing Interest In Vacation Ownership In Asia

RCI, the global leader in vacation exchange and one of the Wyndham Worldwide family of brands (NYSE: WYN), today announced the addition of seven affiliated properties to its worldwide exchange network including four resorts in Vietnam, two in Indonesia and a sea-villa resort in Malaysia. The Registry Collection® program, the world’s largest luxury exchange program and one of the three worldwide exchange programs under the RCI® umbrella, also welcomed two newly affiliated resorts in Indonesia and Vietnam to its global portfolio.

The addition of these new resorts extends RCI’s footprint to nearly 150 affiliated resorts in Asia and over 4,000 resorts globally, offering 3.8 million RCI subscribing members a broad and diverse selection of holiday destinations and quality accommodations for superb and memorable vacation experiences.

The significant number of signings also marks the growing interest in fractional and vacation ownership products among consumers and the appreciation of its competitive advantage as a viable and attractive business and operating model for resorts by leisure real estate owners and developers in Asia.

The announcement was made at the RCI Asia Leisure Real Estate Symposium held in Singapore, attended by more than 100 senior executives and decision makers from the vacation ownership, hospitality and real estate sectors across the region. “The BIG Reveal” Symposium is a response to the continued interest in vacation ownership in Asia which is anticipated to gain even greater momentum in the next few years. At the event, RCI revealed the winning strategies of vacation ownership and unveiled innovative initiatives that will help to further accelerate the development of vacation ownership in Asia.

“We are honored and pleased to welcome these seven new resort affiliates to RCI and two new additions to The Registry Collection® program,” said Geoff Ballotti, president and CEO, RCI. “These vacation destinations have chosen to partner with the largest and most global vacation exchange provider in both the timeshare and fractional ownership space. We are very much looking forward to helping these developers grow their brands and ownership levels across Vietnam, Indonesia and Malaysia. We are actively working on welcoming additional vacation resorts to our network in these countries as the vacation ownership industry continues to grow and expand across this very important part of the world for RCI.”

“What makes RCI an exchange company of choice for leisure real estate owners and developers is our continuous effort to innovate and reinvent vacation exchange,” said Adrian Lee, managing director, RCI Asia. “As the pioneer of vacation exchange, we have achieved many firsts including a series of product and service innovations to optimize member satisfaction while at the same time increasing awareness and exchanges for our affiliated resorts.”

Joining The Registry Collection program are:
delMango Villa Estate – Seminyak Gardens, Indonesia
delMango Villa Estate – Seminyak Gardens is a luxury boutique development consisting of 14 beautifully-appointed designer villas. Located in the heart of Seminyak, the estate is only a short stroll to the beach and is nearby the restaurant and shopping district of Oberoi. It is an idyllic vacation getaway for guests who relish their privacy but want all the luxuries and services that are associated with a star establishment. Resort features include open-plan living and dining areas, designer interiors, air-conditioned bedrooms, private swimming pool, large private garden and a private sundeck.

Six Senses Ninh Van Bay, Vietnam
Six Senses Ninh Van Bay sits on dramatic Ninh Van Bay, with its impressive rock formations overlooking the South China Sea, white sand beach and towering mountains. 58 beautiful villas are spaciously designed and generously equipped with two rooms and either a garden terrace or a large sundeck. Each villa has a private pool and is located either on the beach, on the water, on the rocks, in the jungle, or on a mountain slope offering a variety of panoramic ocean views and secluded privacy. The lovely resort can only be reached by boat. The car transfer from the airport to the resort’s jetty takes about one hour, followed by boat transfer of 20 minutes to Ninh Van Bay. The resort has been conferred with over 12 international awards from prestigious travel organisations such as Guide Award, Luxury Travel, World Travel Awards and Elite Traveler.

Joining the RCI exchange network are:
Evason Ana Mandara & Six Senses Spa – Nha Trang, Vietnam
Evason Ana Mandara & Six Senses Spa – Nha Trang is conveniently located one kilometre away from Nha Trang town centre and 40 minutes by car from the airport. Managed by Six Senses Resorts & Spas, guests can enjoy warm hospitality and personalized service provided by the resort’s 272 hosts. Situated directly on the private beach with 17 villas containing 74 well-appointed guest rooms, all rooms have their own private terraces along with all the amenities and comforts of a five-star resort.

Ana Mandara Villas Dalat – Resort & Spa, Vietnam
Ana Mandara Villas Dalat – Resort & Spa is a 65-room resort, restaurant and spa situated in the rural highlands of Dalat, just half an hour away by car from the Lien Khuong Airport. The resort comprises fifteen fully-restored colonial-style villas, each originally constructed between the 1920’s and 1930’s by the French settlers at that time. Rooms are independently furnished and are restored to their original design and décor. A personal butler is assigned to each villa, which is surrounded by landscaped greenery and expansive views of local urban life and farming countryside.

Ana Mandara Resort Hue, Vietnam
Ana Mandara Resort Hue is located 15 kilometres east of Hue City, at Thuan An village at the Thuan An Beach. The resort is an ideal holiday spot, surrounded by picturesque rice paddy terraces, beautiful Tam Giang lagoons and set within luxuriant landscaped tropical gardens filled with coconut palms, manicured lawns and lotus ponds. Designed with the most modern and complete facilities, the villas and guest rooms are considered to be among Hue’s largest offerings with 78 varying styles of spacious accommodations including beach pool villas, beach villas, duplex rooms and deluxe rooms. Opening May 2010.

Ana Mandara Resort Ninh Binh, Vietnam
Ana Mandara Resort Ninh Binh is nestled within the Van Long Natural Ecological Conservation and within proximity of the Red River Delta. It is just 90 kilometres away from Hanoi and a two and a half hour drive from Noi Bai International Airport. Incorporating traditional rural Northern delta architecture design as well as a blend of the Ancient Capital and contemporary design using environment-friendly materials, the resort is perfect for a quiet retreat. It has a total of 172 rooms, consisting of 116 standard suites, 36 deluxe suites and 20 duplex suites of 52 charming Vietnamese villas. Opening October 2010.

Bali Island Villas & Spa, Indonesia
Located within the vibrant pulse of Seminyak, Bali Island Villas & Spa is a private complex of self-contained luxury one-bedroom villas. Although very much a part of Bali’s most cosmopolitan district, the villas remain a calming niche ideal for a relaxing break. While deviating architecturally from what is considered typically Balinese, the villa still features plenty of elements that reflect local culture. It respects the natural surroundings in a concept that has evolved to embrace the future. Each villa makes a daring statement through aesthetic design to create an atmosphere that meets the expectations of the modern traveler.

Golden Palm Tree Sea Villas & Spa, Malaysia
Managed by Swiss-Belhotel International, Golden Palm Tree Sea Villas & Spa is the first water villas resort to be developed on the Sepang Gold Coast. Accessible from the existing Bagan Lalang beach via a boulevard, the resort is about 25 minutes from Kuala Lumpur International Airport (KLIA). It comprises 399 water villas lined up in the shape of a palm tree stretching 1.2 kilometres into the Straits of Malacca. The villas’ design is a fusion of Polynesian and Maldivian architecture with interiors exuding modern Malaysian design elements. In 2008, the resort won the CNBC award in the category of “Best Property” and “Best Interior Design” for its Ivory Palm Villa.

Hawaii, A Club Bali Resort, Indonesia
Hawaii, A Club Bali Resort is a popular holiday destination on the Anyer coast, about 145 kilometres away from Jakarta. The resort comprises 73 apartments in studio, one-, two- and four-bedroom presidential suite configuration. The resort offers a wide range of services and facilities such as a water park that includes five swimming pools and water slides, a sea water lagoon, restaurant & bar, tennis court, meeting rooms, banquet hall, BBQ pit and karaoke as well as outbound and water sports activities. Guests can either relax or enjoy the surroundings at the resort or partake in adventurous trips to Banten National Park, Tanjung Lesung Beach or Krakatau volcanic island.

About RCI
RCI is part of Wyndham Exchange & Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange & Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection® program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals®, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit our media center.

About The Registry Collection
The Registry Collection program is a global network comprising over 30,000 members and more than 130 affiliates on five continents. More than 175 properties are available through The Registry Collection® program and are either accessible for exchange or under development. As the world’s largest luxury exchange program, The Registry Collection program provides members with access to an elite global network of the very finest vacation properties at some of the world’s premier destinations, as well as personal concierge services that are available 24-hours a day. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection program facilitates exchanges around the world and redefines the vacation experience for owners and developers. The Registry Collection program is offered by Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals and one of the Wyndham Worldwide family of companies  (NYSE: WYN). For additional information visit our media center.

RCI, the worldwide leader in vacation exchange, and Grand Pacific Resorts, a premier vacation ownership company, announced they have renewed their long-standing affiliation.

“For over 16 years Grand Pacific Resorts has been a very valued partner of RCI, offering quality vacation experiences to our 3.8 million subscribing members,” said Geoff Ballotti, CEO, RCI. “This renewal of our affiliation allows us to continue our great working relationship and offer both RCI members and Grand Pacific Resort owners the vacation experiences they desire.”

Headquartered in Carlsbad, California, Grand Pacific Resorts has eleven RCI-affiliated resorts in their portfolio and more than 45,000 owners.

“Through the years, Grand Pacific Resorts and RCI have enjoyed a great relationship,” said David Brown, co-president of Grand Pacific Resorts. “We’re glad to continue our affiliation and look forward to successful collaborations in the years to come.”

Co-president Tim Stripe added, “RCI increases the benefit of our owners’ vacation purchase as they may exchange for literally thousands of destinations around the world.  In return we see that Grand Pacific Resorts are among RCI’s most popular and often requested group of resorts. It is clearly a win-win affiliation.”

About RCI
RCI is part of Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange and Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange.

For additional information visit www.wyndhamer.com or the media center of www.wyndhamworldwide.com.

About Grand Pacific Resorts
Grand Pacific Resorts is one of the oldest and largest vacation ownership companies based in California. With over 45,000 owner-families Grand Pacific Resort Management services fourteen properties, including the recently-developed Grand Pacific MarBrisa Resort in Carlsbad, California. For more information visit www.grandpacificresortservices.com  or call Sharrie McIntosh at 760-431-8500.

RCI to co-host Shared Ownership Summit at the Middle East’s leading hotel investment event

RCI, the global leader in vacation exchange and one of the Wyndham Worldwide family of brands (NYSE: WYN), will partner with Middle East Economic Digest (MEED) and Bench Events, organizers of AHIC, to host industry leaders at the 2010 Middle East Shared Ownership Summit.

The Shared Ownership Summit is part of the three-day AHIC programme which will take place 1 -3 May at the Madinat Jumeirah, Dubai, UAE, with the half-day Summit taking place on Saturday, 1 May. For a complete list of regional and international leaders who will be speaking at the Summit, please visit www.arabianconference.com.

Shared ownership refers to a set of leisure oriented real estate and hospitality products that include timeshare, fractional, private residence club and destination clubs. Timeshare, or vacation ownership as it is often called, is very well established in Middle East and North Africa (MENA) markets like Egypt with industry observers more recently noting the tremendous potential for both vacation ownership and fractional development in Dubai and other key Arabian Gulf leisure destinations.

Attendees will hear firsthand from the leaders of some of the most successful regional and global vacation ownership companies, whose experience will help highlight opportunities for growth in MENA. Similarly, leaders from companies who helped pioneer the luxury branded residential and private residence club concepts will serve as trend spotters as they consider how luxury brands will unlock value from real estate products in the future.

The Summit will offer significant value to timeshare and fractional developers as they share best practices, receive industry updates and explore new opportunities.

“The Shared Ownership Summit offers hospitality companies and mixed-use developers an efficient forum in which to better understand the immediate benefits and long-term value that vacation ownership can infuse in their overall business strategy,” said Jeff Tisdall, managing director, RCI MENA. “We are encouraged by the continued strong interest international vacation ownership companies are expressing in the Dubai market.

The Summit offers international companies a venue to explore opportunities to enter the regional market via partnership or through outright asset acquisition.”

“We are honoured to have such an experienced set of business leaders confirmed as Shared Ownership Summit speakers,” said Jonathan Worsley of Bench Events. “This really is an unprecedented gathering of vacation ownership, fractional and luxury residential development leaders.”

Summit attendees will not only receive a copy of the 2010 Shared Ownership Study including important global and regional industry updates, but also experience three essential panel discussions. The first panel will aim to provide attendees with the tools and insights they need to determine if now is the right time to add Shared Ownership to their business strategy. A second panel discussion focuses on the latest sales and marketing insights, solutions and alternative approaches to developing sales capabilities. The luxury segment discussion considers recent innovations in the category and takes a look forward to consider how luxury brands will unlock value from real estate products in the future.

“This is a very timely discussion as the Middle East and North Africa region has seen significant innovations in the luxury segment,” said Gregg Anderson, vice president, The Registry Collection program. “This is a great opportunity for firms to consider how they will position themselves to capture new opportunities in the future.”

In addition, Jeff Tisdall, managing director, RCI MENA, will offer a sneak preview of the Summit when he hosts a free webinar on 7 April. The webinar will share an advance look at trends and opportunities in hotel shared ownership and reveal the potential of timeshare, fractional and private residence club concepts to the real estate development and hospitality industry. Those interested in attending the free webinar can register at www.arabianconference.com/webinar.

About The Shared Ownership Summit
The Shared Ownership Summit is offered as an optional upgrade to attendees of the Arabian Hotel Investment Conference. It will also be possible to register directly in the Shared Ownership Summit. The Summit begins at 1:00pm on Saturday, May 1, 2010 and is immediately followed by a reception and networking event. For registration details please call 00971 (0)4 390 0049, email ahic@meed-dubai.com or visit www.arabianconference.com.

About RCI
RCI is part of Wyndham Exchange and Rentals, the worldwide leader in vacation exchange and the European leader in vacation rentals, with exclusive access for specified periods to more than 65,000 vacation properties in approximately 100 countries. Wyndham Exchange and Rentals is comprised of vacation exchange, including RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection® program, the world’s largest luxury exchange program; vacation rentals, including Endless Vacation Rentals®, Landal GreenParks®, Novasol®, and other renowned vacation rental brands, through which vacationers can rent a variety of property types, from city apartments to villas; and NorthCourse® Leisure Real Estate Solutions, a research and consultancy firm providing advisory services to the global leisure real estate industry. Wyndham Worldwide Corporation is one of the world’s largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange.
For additional information visit www.wyndhamer.com or the media center of www.wyndhamworldwide.com.

Bench Events
Bench Events has a long track record of hosting the premier hotel investment events in the world. Bench Events’ Chairman, Jonathan Worsley, is one of the organisers and founders of the highly successful International Hotel Investment Forum now in its thirteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai and in 2008 launched the Russia & CIS Hotel Investment Conference which was a sell out success (www.russia-cisconference.com). Bench Event’s sister company, JW Bench, is a benchmarking company that has successfully launched the Conference Bench and the Productivity Bench. An industry first, the Conference Bench, measures performance data for conference and banqueting space in hotels in Stockholm, Oslo, London, Brussels with other capital cities contributing shortly. www.benchevents.com

MEED
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As we all know, the past year or two have been some of the most challenging our industry has seen in a very long time. And while not every company around the globe suffered from the credit crisis, scores did, and the ripple effect meant that many suppliers and other industry-related companies paid the price as well.
By Matt McDaniel, editor

Today, though, the consensus is that the shared-ownership industry is stabilizing and regaining its footing. And, along the lines of “whatever doesn’t kill you makes you stronger,” the still-standing operators are lean and hungry to regain some semblance of their previous sales revenues.

In this edition, we’ve asked several influential EMEAA market leaders to talk about the state of the industry, its biggest challenges going forward, the availability of finance and the impact on exchange. Each  shared-ownership industry leader was individually asked to respond to the same five questions. The participants, in alphabetical order, are Mark Attwood, group sales and marketing director, Karma Royal Group; Paul Gardner Bougaard, chief executive, Resort Development Organisation (RDO); Ramy Filo, president of the Australian Timeshare and Holiday Ownership Council (ATHOC) and CEO and managing director of the Classic Group; Peter Hutchinson, Group Chairman, Citadel Trustees; Shaun Lamont, managing director, Club Leisure Group; Bryan Lunt, chairman, Absolute Group of Companies; Leslie McCann, group marketing director, Seasons Holidays; Richard McIntosh, chairman of the Resort Development Organisation (RDO) and managing director, Hilton Grand Vacations; and Nick Turner, vice president & head of new business development, The Registry Collection.

From your perspective, what is the current state of the shared-ownership industry?

Mark Attwood: I can’t really comment about outside Asia. In Asia, timeshare activity is very small. There is not much developer activity. The industry surged in the last decade but there are few reputable developers left.

Paul Gardner Bougaard, chief executive, Resort Development Organisation (RDO)

Paul Gardner Bougaard: From the RDO perspective, I think the industry in Europe is in remarkably good shape, bearing in mind that the world’s economies have been through the worst economic crisis since the 1930s. Whilst we’re not yet out of this and many countries in Europe have yet to announce measures to deal with the debt incurred in supporting their economies, I think it’s apparent that consumers continue to value the certainty of their shared ownership and see this as an important element of their lifestyle. I am therefore confident that the timeshare product continues to have a strong future even though we still have a lot of work to do to educate the media and public in Europe. I think the fractional side of the industry is still very much in its infancy in Europe and there is a huge task ahead in educating the public and media as to the attractions and advantages of the product. The fractional industry desperately needs to organize itself under a trade association in order to speak with a unified voice and get those messages out. We have set FSOTA up for that purpose and will work hard this year to recruit new members to support this education program.

Ramy Filo: The past 12 months have been challenging for companies in Australia. Some companies were quick to react to the situation and resulted in maintaining the momentum or increasing volumes. Other companies struggled in the current market conditions. All companies looked at their own backyard and restructured and focused on core businesses while maximizing revenue from their current member base.

Peter Hutchinson: The propensity of the public to commit to high ticket value leisure products in a recession is heavily reduced. However, in these days of tiny returns on funds invested with banks, some resorts can benefit from a switch of emphasis to investment returns. This cannot work in the conventional timeshare model of 50%+ sales and marketing costs, but it can work with a lower markup fractional product. There are other criteria which need to be fulfilled, such as a long high season, good rental income, etc. Also, there is the need to guard against the product being classified as a Collective Investment Scheme, which can severely restrict the sales potential. However, addressing these issues will potentially open the door to a significant alternative sales source.

Shaun Lamont: The Southern African Vacation ownership industry continues to flourish in both the fractional and points-based sales. We experienced market penetration and growth in 2008 of 27% and 6% in 2009, which I believe is phenomenal considering the current economy.

Bryan Lunt: In Asia we can only see the growth we are experiencing and the influx of quality staff due to recent downturns in the European and American markets and the closure/downsizing in Australia of several [sales lines] of Accor and Wyndham. I have seen and heard about a huge slowdown in the U.S. fractional markets as well as downsizing of many timesharing companies due to restricted cash flow.

Leslie McCann, group marketing director, Seasons Holidays

Leslie McCann: At industry events there’s a sense of gloom and despondency at the moment, which could turn out to be a selffulfilling prophecy. Really, we at Seasons feel very positive about the future – the  industry’s usually very good at adapting and evolving. There’s the uncertainty regarding consumer finance; as a result of the credit crunch having consumers who want the product but are rejected at the finance stage is a serious issue we haven’t had to face before. So the industry must evolve internal finance packages to support the very valuable external unsecured consumer loans that are available.

Richard McIntosh: Everything goes in cycles, and the shared ownership industry is no different. The ability to purchase for many may be slightly reduced at present, but this is only temporary, and as sure as the sun rises, so will demand return. Shared ownership is about holidays and leisure time, and in future we will see an even greater demand for our products as leisure time and life expectancies continue to grow.

Nick Turner: From my personal experience, in the last six months, lifestyle based products continue to be marketed with the emphasis on the best value and the best quality. People are still buying and are looking for great units with equally great specs, and want to know what the annual cost is going to be.

What are the biggest challenges facing the industry now and going forward?

Attwood: In Asia the biggest challenge is to create consumer desire for the product. In India it is to stop “pack companies” from wreaking havoc as they did in Europe.

Bougaard: I think timeshare faces two sets of challenges. Firstly the issues over resales and maintenance fees remain areas where the industry has to do more work. There are no easy answers to the resale issues but RDO will continue to work with its members to educate the public on this and to urge sellers to use resale companies who are RDO members. On maintenance fees I think we have failed to get the message across on
the influences at play on maintenance fees in general and although RDO’s 2009 industry survey demonstrated that fees had not risen disproportionately, we will be getting more information out on this during the year in our social network media program. The second set of challenges relate to the unscrupulous elements at the fringes of the industry seeking to take advantage of those consumers struggling in these current economic difficulties. The expansion of the Internet and the currently relatively low cost of TV advertising, particularly in the UK has led to a huge rise in the numbers of these organizations and RDO needs to and will defend consumers and its members against these people.

As to fractionals, the biggest challenge they face is getting the word out about the product in Europe. I am aware that individually, RCI and II are working on this, but as RDO speaks for the timeshare industry, so FSOTA should speak for the fractional industry and provide a focus for the media and a source of education and information for the public. That can only happen if developers and others in the industry join FSOTA and thereby provide it with the funds to pursue these programs. If they don’t then I am worried the industry will remain fragmented and not gain a foothold in Europe.

Ramy Filo, president of the Australian Timeshare and Holiday Ownership Council (ATHOC) and CEO and managing director of the Classic Group

Filo: The industry in Australia faces similar challenges that are faced in other markets such as regulation and compliance, cost of sales and marketing, and consumer finance. Moving forward there are similar challenges with the addition of the competition from other lifestyle products; products need to change to meet consumer expectations and competition from other lifestyle products.

Hutchinson: High annual costs of usage, in the form of maintenance and exchange costs. The winners will be those who address these areas and include them, as far as possible, in the capital sum. We need to recognize that, in times of recession, people who are still in employment are actually better off than previously! They have the capital to buy the product, but not the confidence to commit to long term annual expenditure. Addressing and reducing or capping these annual costs is crucial to ongoing success.

Lamont: The age of the traditional timeshare owner is of concern. Generally these are owners that purchased their traditional timeshare 20 to 25 years ago. Their needs have changed and they are well into their retirement. Continued affordability by this income bracket and the knock on effect maintaining resort standards needs to be carefully monitored.

Lunt: Industry challenges are the need to keep products real. I guess pack companies don’t help doing justice to the industry when product is smoke screened and not real compared to this companies who have invested real $$$$ into projects.

McCann: Generally the timeshare industry itself has got an undeserved poor reputation mainly caused by the activities of non-asset-based, unregulated holiday clubs. Thankfully there’s new legislation coming in, which puts us all on the same level playing field. But the attacks on the television and in the papers encouraging dissatisfaction among timeshare owners are sometimes creating the impression in owners’ minds that there must be something wrong with the product. But generally speaking, decades into the purchase, most timeshare owners in Britain and throughout Europe are satisfied with their purchase. So a challenge to the industry is how we’re going to react to this unfair attack on us by certain bogus resale companies and compensation groups.

Richard McIntosh, chairman of the Resort Development Organisation (RDO) and managing director, Hilton Grand Vacations

McIntosh: We must remember that every year we accommodate millions of shared ownership owners at our resorts, members who are enjoying today the decision they made to buy yesterday. We must continue to focus on looking after these guests by enhancing their holiday and leisure experiences, as their advocacy is critical to our future.

Turner: If I base this answer on fractional, in the UK now, there is reasonable awareness from middle-high income families. The challenge is to engage with the consumer/buying public especially in Europe. For the UK buyers, we should see a steady rise in fractional products post General Election.

Are we set to return to normal, or to a new normal?

Attwood: There has been no normal in Asia!

Bougaard: I think we are facing a period of economic difficulty and also environmental challenges so it’s probably a new normal. As a result consumers will be looking for value for money and products that meet their own perception of the environmental challenges ahead. I am confident our members can and will meet that challenge.

Filo: We are set to return to normal, but, there is an opportunity to forge niche opportunities as a result of what we all have learnt over the last 12 months.

Hutchinson: As and when consumer confidence returns we will see a return to previous sales performances. When will that be? In my opinion, it will be gradual over at least 5 years, by which time, I am sure the product will have evolved further to reflect the joint issues of high maintenance and exchange costs.

Lamont: I don’t believe their will ever be a “normal” again, but rather greater opportunities to introduce niche market products into the industry rather than the traditional approach of the past.

Bryan Lunt, chairman, Absolute Group of Companies

Lunt: What is normal? Business always has cycles and on downturns the tough get tougher and weaker ones crumble, whereas in good markets everyone finds it easy and then we have too much competition… Of course now everyone seems to be much more careful how they spend their hard-earnt money and this gives in general the shared-ownership industry even more sales opportunities.

McCann: A new normal. I think overall for the industry, 2010 is not going to be an easy one, especially for people in start-up situations and single-site resorts. I think it will be a steady one for the established hotel brands and strong independent brands – I suspect they will manage to maintain reasonable returns – but for new start-ups it’s challenging to get funding, development finance from banks and to sell consumers a pre-construction real estate product right now when’s there’s some uncertainty about property values. People are less likely to take a risk. I think there are a lot of challenges to see new growth in traditional timeshare – I think the new normal will be better targeting. We need to target more accurately what our market is, spend less on reaching that target market, and make sure we’ve got a product that’s appropriate for that market.

McIntosh: In my 25 years in this business, I have never known “normal” – all I have known is change. Change usually delivers things for the better, for our guests and in turn for our businesses, but only if you focus on the guest. For me it’s positive and all about change.

Turner: It is the beginning of a new normal. The days are gone when people threw money into buying second homes, etc. The new normal is all about the value-conscious lifestyle buyer. The emphasis is on more value, less cost and tailor making the second-home ownership.

How would you describe the current state of the availability of finance – for consumers and developers – and how do you see things going through the rest of 2010?

Bougaard: In 2009 the industry in Europe saw a withdrawal from the market of one consumer finance provider, but during that year there has also been at least one new entrant to the market and a continuance of lending by another. In general I believe lenders see the timeshare product as a good lending line with low default rates and high consumer satisfaction. I do not therefore have great concerns over the availability of consumer finance in Europe for UK buyers, who are still the biggest buyers of timeshare in the EU, but it would be good to see more finance available for other EU nationalities.

Filo: Australia was not hit as hard by GFC on finance in our industry directly on consumer finance; however, banks have tightened up their conditions. The low interest rates provided by traditional banking institutions have opened up new sources of funding from investors wanting a higher return.

Peter Hutchinson, group chairman, Citadel Trustees

Hutchinson: The availability of finance for developers and non UK + Irish consumers in Europe has always been very limited and hence the recession has brought little change! For UK + Irish consumers, however, there is now only one major credit provider in the industry for this key market and the fallout from their withdrawal would be cataclysmic! The only way developers can cater for this potential hit to sales is to prepare to provide in-house consumer finance: This entails preparing the necessary paperwork (a not-inconsiderable task), which will need to cater for the loans being transferable to a new lender without further reference to the buyer. The developer will also need to look at the cashflow implications and prepare revised release rates of sales commission and incentives to buyers and salesmen alike to achieve as many cash deals as possible. In the long run, those that can cope with this setback will benefit substantially from the income from high interest rates.

Lamont: Southern Africa is in a “fortunate” situation – we experienced what the global market experienced in 2008/2009, 15 years ago. This forced us to change the rules of the game and slowly introduce “self funding” to sustain growth. The first few years were extremely challenging but we are reaping the rewards thereof now, 12 years down the line where the management of “in house” funding and a mature debtors book alleviate the need to outsource finance.

Lunt: There is no finance available for us so we went out and created our own Absolute Finance Worldwide and we have been forced to finance our own products to help sales reach this year’s targets. The banks are not lending – as I said everyone is more careful these days so to offer finance, customers are seeing this as a great opportunity. We’d all love to drive a new Ferrari, Bentley or Rolls Royce – it’s just a matter of how much will it cost me per month … if it’s affordable we’d do it! That’s what we have created with Absolute
World products.

McCann: I think the outlook is pretty gloomy for 2010. All of us who are fortunate enough to have an unsecured consumer finance facility should do our absolute utmost to protect that facility by making sure that the clients are sold in a professional, responsible way to ensure that the institutions that are currently in the market don’t suddenly get cold feet. It only takes one developer to sell in an irresponsible way for us to lose a major institution and that would have a devastating consequence for the whole industry because, in the British market at least, we’re in the hands of one main lender. The established players with a good track record will continue to be able to draw down loan facilities. If people are not able to demonstrate real success in our industry in the last 12 months, it’s going to be harder to borrow money to build new. Certainly as a start-up it will be very difficult. The irony is this is a time of opportunity with real estate being keenly priced – now is the time for developers to get in. But unfortunately, it’s not just about the acquisition costs.

Nick Turner, vice president & head of new business development, The Registry Collection

Turner: Regarding consumer finance: The current state of finance availability is frustrating and slow. There are only a small amount of financial institutions offering finance at the moment. We need to see a broader adoption of fractional products by the high street banks in the next 12 months and interest rates from some lenders coming down. Regarding developer finance: There have been a number of large institutions sitting on the fence for the past 18 months watching asset values drop. Mixed-use developments such as hotels with golf, spa facilities, etc. seem to have more comfort for the institutional investors.

Are people exchanging more or less? How has exchange demand been affected?

Mark Attwood, group sales and marketing director, Karma Royal Group

Attwood: In India we find members are exchanging abroad more than before.

Filo: There is no doubt the GFC has a dramatic influence on every part of the industry, including the exchange patterns of the timeshare owners. Long-haul exchanges literally disappeared faster then what the international airlines were able to reduce the number of their international flights. The demand for domestic and short-haul exchange space increased to compensate, and the number of owners deciding to go back and use their hone resort during 2008 and early 2009 was also very evident from all reports. Having said that, the timeshare community is fairly resilient, or at least that’s the experience certainly in Australia and New Zealand. Having paid their annual levies, the majority of owners went ahead and made use of their entitlements either using within their home resort or club, or exchanging to other local destinations. By mid-2009, the exchange demand for the longer-haul destinations had gone back to pre-GFC times and the start of 2010 has been nothing but highly surprising at the number of owners looking for exchange holidays again.

Shaun Lamont, managing director, Club Leisure Group

Lamont: Based on our statistics, exchanges have continued to increase over the last few years. I believe this is as a result of the value of and advantages of owning a timeshare product for vacations rather than looking at more expensive alternatives like hotel accommodation or owning a private condo. The consumer has been forced to watch every cent as a result of the economy, and is realizing the value and competitive pricing of their timeshare acquisition versus the more costly alternatives.

Lunt: Definitely – people have committed to the shared ownership industry, whether via fractional ownership or vacation club memberships, and these owners will use their time wisely looking to get the most out of what they have bought. Exchange demand has surprisingly risen – albeit a small amount during the last year or so.

McCann: Slightly less. There was certainly a higher demand for our UK sites last year. I think this is a reflection of owners, particularly last year, frightened off by the strong euro. I think there’ll be more of that this year – families will tend to stay in country or go to drive to European destinations if they can. For us, the number of exchange guests in the UK last year was lower than normal because there was more space taken up by members wanting to holiday within the UK. There was a slight decrease in exchange activity and a slight
increase in members using their own resorts within the British Isles.

Turner: All exchange platforms are robust models. People are trying to utilize all their second-home time instead of wasting it, as every penny counts. They want to get the most out of their exchange. Exchanges are continuing – especially in The Registry Collection – more members mean more exchanges.

A Final Word
Overall, it seems that the shared-ownership industry is on the path to recovery. But it is important to learn the lessons from the events that brought us to our knees if we are to minimize the effects of the next cycle. And the next cycle will come – it may be 25 years from now or it may be much sooner, but it will come.