o offer Wyndham Rewards points as an incentive to prospective VOI purchasers, and by providing additional redemption options to Wyndham Rewards members. The company also co-sponsors sweepstakes, giveaways, and promotional programs with professional teams at major sporting events and with other third parties at other high-traffic consumer events. Where permissible under state law, it offers existing owners cash awards or other incentives for referrals of new owners. The company operates its primary Las Vegas sales center within Harrah’s Casino and regularly shuttle prospective owners targeted by such sales centers to and from its nearby resort property. The company has an alliance with Margaritaville, a lifestyle brand popularized by musician/entertainer Jimmy Buffett, where it markets to patrons of various Margaritaville product lines via multiple channels, including on-site marketing at Margaritaville restaurants, affiliated venues and events, as well as co-branded vacation ownership offerings. The company offers various entry-level programs and products as part of its sales strategy. Purchaser Financing The company offers financing to purchasers of VOIs, which attracts additional customers and generates substantial incremental revenues and profits. The company funds and services loans extended by Club Wyndham and WorldMark by Wyndham through its consumer financing subsidiary, Wyndham Consumer Finance, a wholly owned subsidiary of Wyndham Vacation Resorts based in Las Vegas, Nevada. Wyndham Consumer Finance performs loan financing, servicing and related administrative functions. The company typically performs a credit investigation or other inquiry into every purchaser’s credit history before offering to finance a portion of the purchase price of the VOIs. Its consumer financing subsidiary is responsible for the maintenance of contract receivables files, as well as all customer service, billing and collection activities related to the domestic loans it extends (except for loans associated with Shell Vacations Club). Its consumer financing subsidiary also manages the selection and processing of loans pledged or to be pledged in its warehouse and term securitization facilities. Property Management On behalf of each of the property owners’ associations, the company or its affiliates generally provide day-to-day management for vacation ownership resorts, which includes oversight of housekeeping services, maintenance and refurbishment of the units, and provides certain accounting and administrative services to property owners’ associations. Strategies The key elements of the company’s strategy include adding new members efficiently through new inventory locations, new tour sources and enhanced third-party alliances; and pursuing expansion into new markets. Seasonality The company relies, in part, upon tour flow to generate sales of VOIs; consequently, sales volume tends to increase in the spring and summer months as a result of greater tour flow from spring and summer travelers. Therefore, revenues from sales of VOIs are generally higher in the second and third quarters (year ended December 31, 2015) than in other quarters.
wyndham worldwide corp
(WYN:New York Consolidated)
22 Sylvan Way
Parsippany, NJ 07054
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