With Wyndham having $174 million in cash as of June 30, the company is looking to add to the total number of hotel rooms and atypical timeshare units. It purchased the Microtel Inns & Suites and Hawthorne Suites brand hotels from Global Hyatt Corp. in June 2008, and Wyndham continues to search for bargains during this period of economic difficulty and credit unavailability.
In so doing, Wyndham is also looking at taking over housing development projects and converting them into timeshares. So, could a Wyndham townhouse appeal to you as an owner? The subdivision into weekly or monthly ownership could improve the economic outlook for these developments. With housing developers in need of sales and becoming motivated sellers, Wyndham could be a right solution for some.
That said, like the timeshare industry in general, Wyndham has had to deal with a shrinking market of potential timeshare owners due to a lack of credit availability. In a restructuring move, the company plans to cut 4,000 jobs and stop construction on timeshare developments. Wyndham still foresees a bright future with timeshares as they are profitable long-term revenue generators both through annual fees & dues as well as financing once the credit market re-expands.