Wyndham Vacation Ownership (WVO) offers vacationers a (time) share of paradise. A top supplier and marketer of timeshare vacation properties worldwide, the company operates through two primary consumer brands: Wyndham Vacation Resorts and WorldMark by Wyndham. WVO boasts about 155 vacation ownership resorts in the US, Canada, Mexico, the Caribbean, and the South Pacific, representing some 20,000 individual vacation ownership units and more than 820,000 owners of vacation ownership and other real estate interests. It has been expanding its presence in the US. WVO is a subsidiary of Wyndham Worldwide, which was spun off from Cendant (now Avis Budget Group) in 2006.
The company's Wyndham Vacation Resorts, formerly named Fairfield Resorts, boasts properties located primarily in the US and include about 75 properties made up of some 13,000 units. WorldMark by Wyndham, formerly Trendwest Resorts, operates in the western US, Canada, Mexico, and the South Pacific, and consists of some 90 resorts with about 7,200 units.
WVO, which represents more than half of Wyndham Worldwide's revenue, has been re-evaluating its business strategy following the US recession as credit markets tightened and consumers pared down their spending. While the company forecasted sales would fall by about 40% to $1.2 billion in 2009, WVO turned a corner in 2010. Thanks to some quick and strategic actions taken in 2008, such as laying off about 4,000 employees worldwide, the segment's sales are rising. WVO points to increases among its upgrade sales in 2009 for part of the turnaround. For the period of 2007 to 2009, the company's net sales of vacation ownership interests rose from 44% of revenue to 64%. WVO aggressively markets to existing owners of vacation ownership interests while these owners are vacationing at WVO's resort properties. It also entices prospective vacation owners through contests, gifts, targeted mailings, telemarketing, and other efforts. – less