SCAMBUSTERS ON YOUR SIDE
BEWARE TIMESHARE SCAMMERS
Wyndham Vacation Resorts Asia Pacific advises extreme caution in providing your credit card or personal details to any individual or entity offering heavily discounted credits, or quick resale of your Vacation Credits.\
AS A REMINDER: Wyndham does not sell or provide Owner information to non-Wyndham companies. We strongly recommend that you always confirm that you are speaking with a Wyndham representative before engaging in any dialogue about your Ownership.
Wyndham and its official representatives only sell freshly issued credits, not second-hand credits that are sometimes available. Any person offering to sell you second-hand credits are either not a Wyndham representative or are acting outside of their authority.
SCAMBUSTERS ON YOUR SIDE
WyndhamWorldwide has issued its second quarter 2016 earnings report, so as usual I’m posting some highlights from their Vacation Ownership segment below for your edification.
- Revenues were $705 million in the second quarter of 2016, a 1% increase over the second quarter of 2015.
- Net VOI sales declined by 2%, as higher gross VOI sales volume was offset by an increase in the provision for loan losses, which was in line with the Company’s expectations.
- Gross VOI sales were $518 million in the second quarter of 2016, an increase of 3% compared with the second quarter of 2015. Results reflect tour flow growth of 3.4%, partially offset by a volume per guest (VPG) decline of 0.8% in constant currency, reflecting higher sales to new owners.
- The number of new owners added increased 13% from the second quarter of 2015.
- Vacation ownership contract receivables, net, of $2.7 billion, unchanged from December 31, 2015
- Vacation ownership and other inventory of $1.3 billion, unchanged from December 31, 2015
- Securitized vacation ownership debt of $2.0 billion, compared with $2.1 billion at December 31, 2015
- EBITDA for the second quarter of 2016 was $187 million, an increase of 3% compared with the second quarter of 2015, reflecting higher gross VOI sales, a lower cost of sales and higher management fees, partially offset by an increase in the provision for loan losses.
Wyndham Worldwide’s RCI timeshare division is being sued for £2.4 million over claims that members of its exchange club have not been able to access properties.
The class action lawsuit has been filed at the High Court in London and litigation is due to begin on Monday.