ORLANDO, FL (February 16, 2011) — Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies, has announced it has executed a sales and marketing agreement with Emerald Grande, LLC, its fourth fee-for-service sales model agreement overall and second to be signed in 2011. The resort will be marketed as Wyndham Vacation Resorts Emerald Grande™ at Destin. Terms of the agreement were not disclosed.
Through this agreement, unsold vacation ownership interests will become part of CLUB WYNDHAM® Access, the company’s flexible club-based product. WVO will become the exclusive sales and marketing agent for the sale of CLUB WYNDHAM® Access vacation ownership interests at Emerald Grande™ at HarborWalk™ Village, with sales anticipated to begin in the fourth quarter of 2011. Completion of the transaction is subject to customary closing conditions. Residential condominium purchases and rentals at the resort, as well as property management services, will continue to be managed by Emerald Grande, LLC.
“Destin has always been an extremely popular destination for our owners, especially during the summer months, and we are extremely proud to welcome Emerald Grande into our portfolio of premier resorts,” said Franz Hanning, president and chief executive officer, Wyndham Vacation Ownership. “This latest fee-for-service agreement not only enables us to move forward with a key business strategy and partner with an experienced developer known for setting benchmarks for quality, it also offers our owners and guests another unique and memorable vacation experience in a highly sought after location.”
Wyndham Vacation Resorts Emerald Grande™ at Destin joins Wyndham Bay Club, Wyndham Bay Club II, Wyndham Beach Street Cottages and Wyndham Vacation Resorts at Majestic Sun as the company’s fifth resort location in Destin, and 16th overall in Florida. Also located nearby is Wyndham Vacation Resorts Panama City Beach.
The property is also expected to operate within CLUB WYNDHAM® Plus, the company’s points-based exchange program that allows owners the flexibility to vacation at more than 70 resorts and enjoy other vacation options and access to special travel opportunities such as cruises and guided trips. It is anticipated that Wyndham’s timeshare owners can begin vacationing at Emerald Grande Resort in late 2011.
“We are pleased to be able to add the Wyndham Vacation Resorts product to our existing high quality mixed use vacation property and look forward to welcoming Wyndham owners and guests to our Emerald Grande Resort family,” said Ed McMullen, Jr., Executive Vice President, Real Estate Sales, Emerald Grande™ at HarborWalk™ Village.
Overlooking the Gulf Coast’s emerald green waters and white sugar sand beaches, Wyndham Vacation Resorts Emerald Grande™ at Destin is located along Destin Harbor, the gateway to the Gulf of Mexico. Resort amenities include a family-oriented water playground, full-service European spa and fitness center, indoor and outdoor heated pools, a full-service marina, world-class fishing excursions and aqua adventures, as well as numerous boutique shops, restaurants, and entertainment options situated along HarborWalk Village, one of the most photographed waterfronts in Destin.
With this latest project, WVO will continue to capitalize upon the momentum that began in March 2010 when it announced its first exclusive sales and marketing fee-for-service agreement at Wyndham Vacation Resorts Towers on the Grove at North Myrtle Beach, SC. In August 2010, the company announced the addition of Wyndham Vacation Resorts Reunion at Orlando, and most recently on Jan. 6, 2011, the company announced its entry into Vermont with the signing of a fee-for-service sales agreement for Wyndham Vacation Resorts Smugglers’ Notch Vermont® near Burlington.
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 EMERALD GRANDE
Emerald Grande is one of Destin’s most unique waterfront resorts. The suites are filled with style and luxury, offering 1, 2, 3, and 4-bedroom vacation residences that all have the comforts of home, right on the Destin Harbor. A full service friendly spa and state of the art fitness center offers classes and pampering treatments for both men and women. Emerald Grande offers a very special way to relax with family and friends. Voted Best Wedding Venue on the Gulf Coast by Emerald Coast Magazine in 2008-2009-2010, Emerald Grande’s weddings are the perfect beginning to a happily ever after. For more information, visit www.emeraldgrande.com.
Vice President, Corporate Communications
Wyndham Vacation Ownership
Director, Corporate Communications
Wyndham Vacation Ownership
SOURCE: Wyndham Vacation Ownership