For every kind of traveler. For every kind of trip. Wyndham Vacation Ownership Franz S. Hanning President & CEO For every kind of traveler. For every kind of trip. 2 Wyndham Vacation Ownership – Who We Are World’s largest timeshare developer & marketer More than 140 resorts in North America & South Pacific More than 18,000 individual vacation ownership units More than 750,000 owners Leading provider of points-based timeshare Highly flexible product structure popular with today’s vacationing consumers Wide portfolio of resort destinations and vacation experiences Strong upgrade sales programs More than 25 years in the timeshare industry Fairfield Resorts Trendwest Resorts Currently re-branding under Wyndham flag
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Wyndham Vacation Ownership · 2006-12-12 · For every kind of traveler. For every kind of trip. 3 Competitive Environment – Year End 2005 Timeshare Revenue ($ in Millions) Owners
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For every kind of traveler. For every kind of trip.
Wyndham Vacation Ownership
Franz S. HanningPresident & CEO
For every kind of traveler. For every kind of trip.
2
Wyndham Vacation Ownership – Who We Are
World’s largest timeshare developer & marketerMore than 140 resorts in North America & South PacificMore than 18,000 individual vacation ownership unitsMore than 750,000 owners
Leading provider of points-based timeshareHighly flexible product structure popular with today’s vacationing consumersWide portfolio of resort destinations and vacation experiencesStrong upgrade sales programs
More than 25 years in the timeshare industryFairfield ResortsTrendwest ResortsCurrently re-branding under Wyndham flag
For every kind of traveler. For every kind of trip.
3
Competitive Environment – Year End 2005
Timeshare Revenue ($ in Millions) Owners
Resorts Units
Source: Vacation Ownership World Magazine, February 2006
$0 $500 $1,000 $1,500
Disney
Hilton
Starwood
Marriott
Wyndham
0 200,000 400,000 600,000 800,000
Disney
Hilton
Starwood
Marriott
Wyndham
0 50 100 150
Disney
Hilton
Starwood
Marriott
Wyndham
0 5,000 10,000 15,000
Disney
Hilton
Starwood
Marriott
Wyndham
For every kind of traveler. For every kind of trip.
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Net VOI Sales Consumer Finance Resort Management & Other Fees
Revenue Drivers
Multiple annuity-like revenue streams
Vacation Ownership Interest Upgrade SalesConsumer FinancingResort Management & Other Fees
(1) For the nine months ending September 30, 2006
71%14%
15%
Revenue Mix(1)
For every kind of traveler. For every kind of trip.
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Vacation Ownership Interest Operating Profit
Product costsLand/Inventory acquisition and product development
Sales and marketing costsLead generationTour costsSales commissionsSales administration
G&A
Vacation Ownership Interest operating profit
≈ 10%
≈25%
≈ 50%
≈ 15%
For every kind of traveler. For every kind of trip.
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Wyndham Consumer Finance – Overview
Wyndham Consumer Finance is a captive finance company
Develops consumer loan programs that support the purchase of vacation ownership intervals
Develops and consummates securitization programs that enable andsupport these consumer loans
Executes upon the processes by which such consumer loans are funded through these securitizations
Services customers and investors through requisite billing, cashmanagement, collections, customer support and reporting activities
Provides accounting, financial planning and portfolio analysis in support of this consumer lending and securitization activity
For every kind of traveler. For every kind of trip.
7Competitive StrengthDiverse Portfolio of Locations
For every kind of traveler. For every kind of trip.
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Competitive Strength – On-site and Off-site Sales Stores
For every kind of traveler. For every kind of trip.
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Competitive Strength – Robust Business Partners
For every kind of traveler. For every kind of trip.
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Competitive Strength – Strong Value Proposition
Greater value for vacation dollarsMore economical than individual hotel staysLarger living space and selection of amenities Fully transferable to heirs
Consistency of accommodationsRCI quality ratedDeveloper maintained & operated at most resortsOwner-driven HOA management & oversight
Vacation certaintyTimeshare owners more apt to take vacations already paid forWide variety of resort locations & experiencesPoints-based ownership allows seamless upgrades to suit evolving life stages
For every kind of traveler. For every kind of trip.
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Types of Ownership – First Generation
For every kind of traveler. For every kind of trip.
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Types of Ownership – First Generation
For every kind of traveler. For every kind of trip.
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Types of Ownership – Next Generation
For every kind of traveler. For every kind of trip.
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Points-Based Ownership – Strength
For every kind of traveler. For every kind of trip.
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Points – Alternative Use Options
For every kind of traveler. For every kind of trip.
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Points – Developer Strengths
Enables seamless channel for upgrade transactionsSales programs designed to continually build upon initial owner purchaseInitial value proposition is maintained in subsequent sales
Enables the sale of inventory of a single resort from multiple sales locations
More efficient inventory absorption On-site sales continue at sold-out locations
Ensures demand-driven resort developmentNew builds/acquisitions based on owner usageNo over-built markets to satisfy sales consumption
For every kind of traveler. For every kind of trip.
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Development Lifecycle
For every kind of traveler. For every kind of trip.
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Development Strategies
Existing Destinations
New Destinations
Urban Destinations
Presidential Unit Inventory
Mixed-Use Developments
For every kind of traveler. For every kind of trip.
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Development Strategies
New Destinations Develop resorts in new destinations currently not served by Wyndham Vacation Ownership
For every kind of traveler. For every kind of trip.
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New Destinations
Waikiki Beach Walk, HI
For every kind of traveler. For every kind of trip.
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New Destinations
Palm Springs, CA
For every kind of traveler. For every kind of trip.
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New Destinations
La Cascada – San Antonio, TX
For every kind of traveler. For every kind of trip.
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New Destinations
West Yellowstone, WY
For every kind of traveler. For every kind of trip.
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Development Strategies
New Destinations
Develop resorts in popular urban destinations
Urban Destinations
For every kind of traveler. For every kind of trip.
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Urban Destinations
WorldMark San Diego
For every kind of traveler. For every kind of trip.
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Urban Destinations
Canterbury – San Francisco
For every kind of traveler. For every kind of trip.
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Development Strategies
New Destinations
Leverage the Wyndham brand to expand high-end Presidential Unit Inventory
Urban Destinations
Presidential Unit Inventory
For every kind of traveler. For every kind of trip.
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Presidential Inventory
Bonnet Creek Resort –Orlando, FL
For every kind of traveler. For every kind of trip.
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Presidential Inventory
Grand Desert – Las Vegas, NV
For every kind of traveler. For every kind of trip.
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Presidential Inventory
WorldMark Indio – Palm Springs, CA
For every kind of traveler. For every kind of trip.
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Development Strategies
New Destinations
Leverage the Wyndham brand to develop mixed-use hotel and vacation ownership properties
Urban Destinations
Presidential Unit Inventory
Mixed-Use Developments
For every kind of traveler. For every kind of trip.
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Mixed-Use Development
Wyndham Lake Buena Vista Hotel & Spa at Bonnet Creek Resort
For every kind of traveler. For every kind of trip.
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Development Strategies
New Destinations
Increase market penetration at existing destinations that continue to experience strong demand
Urban Destinations
Presidential Unit Inventory
Mixed-Use Developments
Existing Destinations
For every kind of traveler. For every kind of trip.
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Existing Destinations
Bonnet Creek Resort – Orlando, FL
For every kind of traveler. For every kind of trip.
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Existing Destinations
Grand Desert – Las Vegas, NV
For every kind of traveler. For every kind of trip.
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Existing Destinations
Myrtle Beach, SC
For every kind of traveler. For every kind of trip.
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Existing Destinations
National Harbor – Washington, D.C.
For every kind of traveler. For every kind of trip.