ORLANDO, FL (August 26, 2010) — Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies (NYSE:WYN), has announced it has entered into an exclusive sales and marketing agreement at Reunion Resort. Under this agreement, the company will become the exclusive sales and marketing agent for the sale of vacation ownership interests in up to 256 condominium-style units at Reunion Resort. All units will operate within the company’s CLUB WYNDHAM® Plus portfolio of vacation ownership resorts and will be marketed as Wyndham Vacation Resorts Reunion at Orlando. Terms of the agreement were not disclosed.
“This is another significant step in executing our fee-for-service timeshare sales model that enables us to continue growing our vacation ownership business while effectively optimizing cash flow,” said Franz Hanning, president and chief executive officer, Wyndham Vacation Ownership. “Not only does Reunion Resort provide another world-class property for our owners to choose from while vacationing in Central Florida, but it also elevates our long-term, mixed-use strategy and enables us to leverage our hotel and timeshare synergies.”
With this latest project, the company continues to capitalize upon the momentum that began in March when it announced it had entered into an exclusive sales and marketing fee-for-service agreement with Towers on the Grove South, LLC. Under this agreement, Wyndham Vacation Ownership became the exclusive sales and marketing agent for approximately 137 condominium- style units at the newly re-branded Wyndham Vacation Resorts Towers on the Grove at North Myrtle Beach.
The company will utilize its existing sales and marketing distribution channels in Florida and other states to sell deeded vacation ownership interests at Reunion Resort. The residential and rental properties will continue to be managed by Noble Investment Group – Florida Resorts, LLC.
“After a thorough analysis, we concluded that Wyndham Worldwide’s wealth of experience will help enhance the long term value and quality of the Reunion Resort,” said Dean Adler, chief executive officer and co-founder, Lubert-Adler Partners, LLC, a real estate investment company focused on acquisitions, redevelopments, restructurings and capital markets activities. “In addition to the ability to sell timeshare units as part of CLUB WYNDHAM Plus, this affiliation provides additional exposure and distribution for Reunion Resort’s world class facilities.
In March, Wyndham Worldwide announced that the 400-room luxury hotel also located within the Reunion golf community had been added to the prestigious Wyndham Grand Collection as Reunion Resort and Club Wyndham Grand Resort. In June, this property was awarded the prestigious American Automobile Association (AAA) Four Diamond Award.
The 2,300-square-acre mixed-use property – centered around the luxury hotel – currently boasts three championship golf courses, casual and fine dining restaurants, tennis courts, boutique spa, fitness center, 10 pools and a well-appointed clubhouse. The property also features a 5-acre water park, which includes a 150-foot lazy river, winding water slides and an interactive water playground. Reunion Resort is also the world headquarters of the prestigious ANNIKA Academy, the golf academy founded by famed golfer, Annika Sorenstam.
The company began timeshare sales on the first phase of 28 units August 5 and anticipates welcoming its first owners in early 2011.
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, 2010, Wyndham Vacation Ownership had developed or acquired over 155 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 820,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Fla., and is supported by approximately 12,500 employees globally.
ABOUT REUNION® RESORT
Reunion Resort is a luxury golf community located in Orlando, Fla. with varied accommodations including single family homes, condominiums and townhomes. The centerpiece of the community is the Reunion Grande, a luxury condominium residence with fine and resort casual dining restaurants. Other amenities include a rooftop pool, boutique spa, multi-acre water park three Signature golf courses and the ANNIKA AcademyTM. For more information, visit www.ReunionResort.com
Public Relations Manager
Wyndham Vacation Ownership
8427 South Park Circle
Orlando, FL 32819