The deal gives Trump entrée to the estimated $50 billion timeshare industry. In a prepared statement, the developer calls Fairfield "the leading player in the rapidly growing timeshare industry."
"Timeshare owners are not only some of the most resilient leisure travelers, but typically spend more on gaming and entertainment during their vacations," says Trump.
He says he did the deal because "we believe that increasing our exposure among timeshare owners will greatly benefit our business." Trump is chairman of Trump Hotels & Casino Resorts Inc.
For Fairfield, the deal opens up a new and exclusive Atlantic City sales and marketing dimension, one that is expected to help the company's newly acquired Skyline Tower resort near the three Trump properties.
"This new alliance will provide tremendous opportunities to jointly build our brands among new clientele," Fairfield president/CEO Franz S. Hanning says in the same statement.
Fairfield's marketing campaign in Atlantic City is scheduled to begin in first quarter 2003. To promote its products, the firm will use on-site kiosks, in-room programs and co-branded promotions. Fairfield also plans to build and operate a 10,000-sf sales center at Trump Taj Mahal.
Fairfield's 67 resorts are in 18 states and the U.S. Virgin Islands. The company is a subsidiary of New York-based Cendant Corp. whose other brands are Coldwell Banker, RCI, Ramada, Century 21, Days Inn, Avis and Cheap Tickets.
Besides the three Atlantic City hotel casinos, Trump owns/operates Trump Indiana, a hotel/riverboat casino at Buffington Harbor, IN on Lake Michigan and manages Trump 29 Casino in Palm Springs, CA.
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