Effective June 1, 2007, the WorldMark budget for 2007, approved by the WorldMark Board of Directors, calls for a modest dues increase. “As we continue to experience a rise in our ongoing operating costs, we must adjust the dues rate accordingly,” says Dave Herrick, senior vice president of WorldMark by Wyndham’s Hospitality Division.

At many resort locations, he says, the double-digit percentage increases for expenses such as insurance, utilities, and property taxes that were experienced in 2006 will carry forward into 2007. “We also need to provide our hardworking staff with modest wage adjustments to remain competitive in the job market.”

Currently the WorldMark by Wyndham professional management team is focused on reducing ongoing operating costs and mitigating some of the significant increases. For example, the team works closely with the Wyndham Worldwide risk management team to leverage the company’s purchasing power to further enhance insurance coverage and minimize premiums.

Also, a pilot-program energy management system has been installed at WorldMark Las Vegas - Spencer Street to determine if the cost-saving benefits will translate into measurable reductions in utility bills without impacting owners’ comfort. If the results prove favorable, the system could be installed at additional resorts.

The table below shows the various levels of the dues increase: