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LAS VEGAS-Wyndham Vacation Ownership plans to develop its fifth Vegas property near the Rio All-Suite Hotel & Casino. The time-share giant says the 280-unit first phase will open in early 2010 and that the development site could hold as many as 2,000 units. Called Wyndham Desert Blue, the development was announced in conjunction with this week’s American Resort Development Association conference in Las Vegas.

The 14.75-acre development site is located on West Twain Avenue at Dean Martin Drive, which is across Interstate 15 from Caesar’s Palace and the Mirage. Wyndham’s Fairfield Resorts Inc. acquired the property for $1 million an acre in late 2005, according to Clark County property records.

The first phase of Wyndham Desert Blue will feature a mix of units ranging from one to three bedrooms, plus 50 suites, that would be housed in a 19-story building. First-phase amenities will include a pool, recreation room, computer library, game room and fitness center. The timing and size of three future phases has not yet been determined.

WVO, which has developed or acquired 145 properties, is an Orlando-based division of Wyndham Worldwide of Parsippany, NJ. In explaining the new Las Vegas development, WVO chief executive Franz Hanning said the company’s Las Vegas operations have enjoyed “tremendous growth” since the company’s arrival in the market eight years ago. “To date, we’ve sold nearly $1 billion worth of product in this market alone,” he said.

With the completion of the Desert Blue, Wyndham would have about 2,400 time-share units in the Las Vegas market. The company’s fourth property, WorldMark Las Vegas Tropicana, is scheduled to open later this month. The company already operates the Wyndham Grand Desert; WorldMark Las Vegas; and the WorldMark Las Vegas Spencer Street.

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