Wyndham Vacation Resorts Asia Pacific plan to increase timeshares from a current 43,000 timeshare owners to an unspecified amount. They will also be introducing the Days Inn and Super 8 brands to Australia and New Zealand.
Wyndham Vacation Resorts Asia Pacific, a part of Wyndham Worldwide corp. is planning to spend at least $20 million to develop properties of Days Inn and Super 8 brands in the Australia and New Zealand regions. The Gold Coast based company is looking to increase their timeshare owner customer base from the current 43,000 to an undisclosed figure goal.
Due to the global financial crisis Wyndham is focusing on controlling costs rather than increasing sales as the demand for timeshares has changed dramatically. The Asia Pacific business’s 2009 profit increased 69% to $49 million even with sales dropping, just from timeshare owners continuing to visit the timeshares they purchased.
Wyndham VRAP Chief Executive Officer Barry Robinson said, “There aren’t as many distressed properties in Australia as I would have expected to see,” He went on to say “I’m not sure whether that’s because our interest rates are still comparatively low for our market, so banks and operators are able to hold on to them because they can justify the returns.”