Wyndham Acquires Property in New Braunfels, TX
Company Purchases Multiple Vacation Ownership Units in Activity-Rich Area Between Austin and San Ant
FEBRUARY 26, 2008. Wyndham Vacation Ownership has announced it has expanded its presence in Texas with the acquisition of 20 newly constructed vacation ownership units adjacent to the Guadalupe River in New Braunfels, Texas from Blewett, Allen, Bingham LLC. Wyndham Vacation Ownership also entered into a contractual agreement to purchase 26 additional units and club house, anticipated to occur later in 2008. Terms of the deal were not disclosed.
Scheduled to operate under the WorldMark by Wyndham portfolio of products, the new property is located approximately 50 minutes from Austin and 35 minutes from San Antonio in the heart of the Texas Hill Country. The resort is anticipated to open for owners in late summer, 2008.
'This area of Texas has long been a desirable vacation destination and New Braunfels, with its natural landmarks, many outdoor activities, historic charm and close proximity to both Austin and San Antonio is an excellent addition to our portfolio,' said Franz Hanning, president & CEO, Wyndham Vacation Ownership. 'We look forward to debuting to our owners another resort in Texas and expanding the number of their vacation options as well as our presence in this visitor-friendly state.'
Featuring a rustic design, the property will include a mix of well-appointed two- and three-bedroom condominium-style units as well as three-bedroom penthouse units. Each unit will include a full kitchen, living room and multiple bedrooms. The property's 5,000 square ft. club house will be the home to a fitness center, children's activities area, pool and spa, recreation room, arcade, and Internet and business space.
Centrally-located between San Antonio and Austin, New Braunfels offers visitors a culturally rich destination with multiple activities. Outdoor enthusiasts can enjoy activities such as golf, fishing, whitewater rafting and tubing along the Guadalupe and Comal Rivers, and exploring the Natural Bridge Caverns. New Braunfels is home to a number of family-friendly attractions including the Schlitterbahn Waterpark Resort, rated the number one waterpark in the world by the Travel Channel. For a change of pace, visitors can explore the German heritage of the area as well as the city's shops, restaurants and Historic District of Gruene.
This acquisition marks the company's third resort in Texas, complementing its Wyndham La Cascada and Wyndham Riverside Suites properties in San Antonio as well as the company's Austin sales office.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
