Wyndham Worldwide Resorts and Wyndham Timeshare Releases 2007 Financials
Thursday, February 21, 2008
This week, Wyndham Worldwide and Wyndham Timeshare released both their fourth quarter 2007 and their annual 2007 financial reports. The company showed their net income for 2007 increasing by 40 percent to $403 million, compared with a 2006 net income of $287 million. And revenues for the full year 2007 increased by 13 percent to $4.4 billion. I’d say, if the people at Wyndham or their customers think there is a recession pending, it certainly isn’t reflected in numbers like these.
Wyndham Worldwide and Wyndham Timeshare CEO and Chairman, Stephen P. Holmes says, “Our company continues to benefit from a global portfolio of economically resilient businesses and brands and from our multiple revenue sources, with more than half of our revenue generated from fee-for-service businesses. We continue to believe that our business model solidly positions us for continued growth, even in what looks like a tougher economic environment in 2008.”
Wyndham Timeshare is an Important Part of the Picture
Wyndham WorldWide Resorts categorizes their business under three headings, with vacation ownership (Wyndham timeshare) being a very important one of the three. In 2007, Wyndham timeshare added more than 1500 timeshare units or timeshare condos to their portfolio of timeshare resorts. Wyndham timeshare revenues and gross vacation ownership sales increased 14 percent, year-over-year for 2007.
Significantly, despite the threat of pending recession and the media’s coverage of slow retail sales during the holidays, Wyndham timeshare saw a 17 percent increase in timeshare revenues and gross vacation ownership in the fourth quarter of 2007, compared to the same quarter during 2006.
Wyndham timeshare exchange members increased by 5 percent for the full year 2007 compared to 2006, and set a new Wyndham timeshare record with more than 3.5 million timeshare owner members.
What Wyndham Timeshare’s Strength Means to Timeshare Owners
When Wyndham timeshare releases strong numbers like these, Wyndham timeshare owners should feel comfortable with their decision to buy Wyndham timeshare. The Wyndham Worldwide Corporation can never ignore the significant contribution that timeshare owners make to the company’s overall revenues.
If you want to buy timeshare at Wyndham, you can expect that Wyndham should continue to grow and nurture their timeshare division with attentive property maintenance and a commitment to offering their timeshare owners excellent locations, amenities and benefits. You also know, that as a Wyndham timeshare owner, demand for your timeshare weeks will stay strong in the timeshare resales market or if you choose to use your timeshare as a vacation rental.
But as with most things, there are two sides to this story. In tomorrow’s Timeshare Owners Blog, I am going to continue talking about Wyndham timeshare, as we look at this financial report again and do a little reading between the lines…