Dave Herrick, Senior Vice President, WorldMark by Wyndham.

Recently we have had a number of owners ask what impact the downturn in the economy has had on WorldMark, The Club. Many owners may not be aware that your Club, WorldMark, is a Not for Profit Mutual Benefit Corporation that is completely self funded through your annual dues and ancillary income streams provided within the Club structure (i.e. Bonus Time income, housekeeping fee income, etc.). Fortunately, your WorldMark founders structured the Club in this way to ensure the Club remained a fiscally independent, legal entity of its own.

Thus far, the impact of the current environment has been minimal to WorldMark. While we see significant impact in the marketplace all around us, the fact remains that WorldMark owners continue to travel. Occupancy rates for our typical “drive to” locations remain as strong as ever. In addition, even our typical “fly to” locations such as Kihei, Kona, Kapaa Shore in Hawaii and Coral Baja in Mexico are all experiencing very high occupancy demand with no apparent fall-off in activity through the first few months of 2009.

We certainly view this continued high level of activity to WorldMark resort destinations as a testament to the strong vacation ownership model that WorldMark was based upon. It reinforces the value proposition of the WorldMark product and reflects how highly it is regarded amongst our WorldMark owners. Now more than ever, what is better than to cutting loose from the doom and gloom of the evening news and getting away from the daily grind to enjoy a wonderful vacation experience with family and/or friends?

Rest assured that your WorldMark by Wyndham staff remains committed to continuing to deliver you, our valued WorldMark owners, exceptional vacation experiences. All of us are keenly aware of the important role your vacations play in your life, and we are dedicated to providing the foundation for you to create lifetime memories with those near and dear to you.