WorldMark by Wyndham
WorldMark by Wyndham (formerly Trendwest) is the exclusive developer and marketer of WorldMark, The Club, the world's third-largest vacation ownership program and part of the Wyndham Worldwide Corporation (NYSE: WYN).[1] The original development partner of the Club was Trendwest International (TWI), a subsidiary of Jeld-Wenn Industries, a privately held door and window manufacturer.[2]
Worldmark by Wyndham (WbW), which does not own WorldMark, the Club (WMtC or "the Club"), has a dual role for the Club. First, WbW develops new properties for the Club and sells vacation credits for these properties at a profit.[2] Additionally, WbW manages existing WMtC resort properties, the funds for which come from annual maintenance dues commensurate with the number of vacation credits each WMtC owner's account contains.
Timeline
WorldMark Timeline[2]
- 1989: The Club, then known as Club Esprit, is founded by Bill Peare, with TWI as developer.
- 1991: The Club Espirit name is dropped due to a trademark conflict with a similarly named manufacturer of clothing.
- 1993: Club Esprit officially renamed WorldMark, The Club.
- 1998: Trendwest is spun off from Jeld-Wen, and Trendwest filed to become a closely held company recognized by the NYSE. At this time Jeld-Wen owned 80% of TrendWest, with the remaining being owned by TrendWest Management.
- May 2002: Cendant Corp. acquires Jeld-Wen’s interest in Trendwest.
- July 2002: By this time all shares in Trendwest had been tendered, and Trendwest became a wholly owned subsidiary of Cendant Corp, and part of the Wyndham WorldWide brand.
- April 2006: Cendant Corp spins off Wyndham WorldWide as a separate entity.
- April 2007: Wyndham WorldWide renames Trendwest (TWI) as WorldMark by Wyndham.
See also
- Wyndham Vacation Resorts, another timeshare company that is a division of Wyndham Worldwide.
- Resort Condominiums International, another timeshare company that is a division of Wyndham Worldwide.
References
Further reading
- Plunkett, J.W. (2008). Plunkett's Real Estate & Construction Industry Almanac 2008. Plunkett's Real Estate & Construction Industry Almanac. Plunkett Research Limited. p. pt534. ISBN 978-1-59392-112-5.
- "Golden Beach resort joins Ramada family". Sunshine Coast Daily. December 3, 2015. Retrieved April 26, 2016.
- "Trendwest Resorts ordered to pay penalties". Herald and News. February 12, 2016. Retrieved April 26, 2016.
- "Cendant buys Trendwest Resorts". UPI. April 1, 2002. Retrieved April 26, 2016.
- Adams, Steve (March 21, 2016). "Wyndham resort staff help victims of Cyclone Winston". RCI Ventures. Retrieved April 26, 2016.