Cendant Timeshare Becomes Wyndham Vacation Ownership
MAY, 11, 2006. Cendant Timeshare Resort Group, Inc., the parent company of Fairfield Resorts and Trendwest Resorts, today announced it has changed its name to Wyndham Vacation Ownership, Inc.
The change occurs in anticipation of Cendant's planned spin-off later this year of its Hospitality Services division, which includes Cendant's industry leading timeshare resorts business. Upon the completion of the planned spin-off, Cendant's Hospitality Division will become Wyndham Worldwide.
Wyndham Vacation Ownership, through its subsidiaries, will continue to market and sell vacation ownership interests under its Fairfield and Trendwest brands, which currently account for more than 140 resort properties throughout the United States, Canada, Mexico, the Caribbean and the South Pacific and more than 750,000 owner families worldwide.
"Wyndham Vacation Ownership will clearly identify our business as a division of Wyndham Worldwide and as a sister company of Wyndham Hotel Group," said Franz S. Hanning, president & CEO, Wyndham Vacation Ownership, Inc. "Including Fairfield and Trendwest under the Wyndham Vacation Ownership umbrella will enhance our visibility in the marketplace while preserving the considerable equity of our current consumer-facing brands."
Additionally, Wyndham Vacation Ownership's consumer finance division, currently named Cendant Timeshare Resort Group Consumer Finance, Inc., is scheduled to be renamed Wyndham Consumer Finance, Inc. in approximately one month.
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