The developer will provide financing, while Wyndham will market and manage the time-share community as one of its own, for a fee. The fee-for-service approach, which Wyndham calls the Wyndham Asset Affiliation Model, takes advantage of the company's marketing assets, which have suffered as time-share developers find it more difficult to access credit and capital. It also provides a new option for developers and banks that need to unload long-unsold condo units.
"We're being somewhat opportunistic here because of the downturn in the real estate market," says Franz Hanning, president and CEO of Wyndham Vacation Ownership. "We are a good solution for a developer or for a lender that's foreclosed on an asset … to monetize that asset."
To read the full story from the Orlando Sentinel, click here.
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