Exhibit 99.1

Wyndham Worldwide Reports Strong Second Quarter 2007 Results

	•		Double-Digit Top- and Bottom-Line Growth; Robust Performance Across All Three Businesses
	•		Vacation Ownership Continues to Set Records With Sales Up 21%
	•		Board of Directors Declares First Quarterly Dividend

PARSIPPANY, N.J. (August 1, 2007) — Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended June 30, 2007.

Financial information discussed in this press release include both GAAP and non-GAAP measures, which include or exclude certain items, or reflect pro forma adjustments, related to the Company’s spin-off effective July 31, 2006. These non-GAAP measures differ from reported results and are intended to illustrate what management believes are relevant period-over-period comparisons. Non-GAAP measures are indicated as “Adjusted.” A complete reconciliation of reported GAAP results to the comparable Adjusted information appears in the financial tables section of this press release.

SECOND QUARTER 2007 HIGHLIGHTS (as compared to second quarter 2006):

	•		Revenues increased to over $1.1 billion, up 15%, with strong, organic growth across all businesses: Lodging, Vacation Exchange and Rentals, and Vacation Ownership
	•		Net income for the second quarter of 2007 increased 28% to $96 million, or $0.52 per diluted share, compared to second quarter 2006 net income of $75 million, or $0.37 per diluted share
	•		Vacation Ownership gross sales and revenues each surged 21%
	•		Vacation Ownership tours increased 11% and volume per guest increased 12%
	•		Comparable revenue per available room (RevPAR) increased 5.1% and system-wide RevPAR increased 3.7%
	•		Hotel pipeline was over 100,000 rooms as of June 30, 2007
	•		Average number of vacation exchange members increased 5%
	•		Vacation rental transactions increased 5% and average net price per vacation rental increased 11%
	•		The Board of Directors declared a dividend of $0.04 per share payable September 4, 2007 to shareholders of record as of August 13, 2007.

“In the one year since our spin-off, we have continued to drive strong results in all three of our businesses,” said Stephen P. Holmes, Wyndham Worldwide chairman and chief executive officer. “Leading the way again this quarter was our Vacation Ownership business, where performance continues to be phenomenal.

We continued to invest in and build momentum behind the Wyndham brand by re-flagging well-known hotels including locations in London and Puerto Rico, launching Wingate by Wyndham, and flying

new Wyndham banners over some of our great vacation ownership resorts. Additionally, operating statistics for our Vacation Exchange and Rentals business (Group RCI) showed continued strength in the quarter.”

SECOND QUARTER 2007 OPERATING RESULTS

Revenues for the second quarter of 2007 were $1.1 billion, up 15% over the same period in 2006, reflecting strong organic growth across the businesses.

Net income for the second quarter of 2007 was $96 million or $0.52 diluted earnings per share, compared to $75 million or $0.37 diluted earnings per share for the second quarter of 2006.

Net income for the second quarter of 2007 includes $4 million after-tax of separation and related costs associated with Wyndham Worldwide’s spin-off from Cendant Corporation (now Avis Budget Group) and $11 million of an after-tax net benefit from the resolution of and adjustment to certain legacy items. Excluding these items, Adjusted net income for the second quarter of 2007 was $89 million, or $0.49 diluted earnings per share.

Second quarter of 2006 includes $3 million after-tax of separation and related costs and excludes $16 million after-tax of estimated incremental stand-alone costs (assuming Wyndham Worldwide had been a stand-alone, public company). Assuming these items, Adjusted net income for the second quarter of 2006 was $62 million, or $0.31 diluted earnings per share.

Second quarter of 2006 also includes $32 million ($22 million, after-tax) of expenses related to an accrual for local foreign taxes at our European vacation rental operations.

BUSINESS UNIT RESULTS

Lodging (Wyndham Hotel Group)

Revenues increased 6% to $186 million in the second quarter of 2007 compared with the second quarter of 2006, primarily reflecting RevPAR gains.

Comparable RevPAR increased 5.1% in the second quarter of 2007 and system-wide RevPAR increased 3.7% from the prior year period.

The Wyndham brand comparison was affected by the expected attrition of certain properties. Excluding these properties, the majority of which have left the system, RevPAR for the Wyndham Hotels and Resorts brand was up 9.9%.

Lodging EBITDA grew 11% to $59 million compared to the second quarter of 2006, reflecting strong fundamentals and timing of marketing spend.

As of June 30, 2007, the Company’s hotel system consisted of 541,700 rooms and 6,460 properties with a development pipeline of over 100,000 rooms and approximately 900 hotels, of which 46% were new construction and 25% were international.

Vacation Exchange and Rentals (Group RCI)

Revenues increased 10% to $288 million in the second quarter of 2007 compared with the second quarter of 2006, reflecting continued momentum in both vacation exchange and vacation rentals as well as favorable currency translations.

Vacation exchange revenues were $116 million, a 7% increase compared to the second quarter of 2006. The average number of members increased 5% and annual dues and exchange revenue per member increased 2% from the second quarter of 2006.

Vacation rentals revenues were $136 million, a 17% increase compared to the second quarter of 2006, reflecting a 5% increase in vacation rental transactions and an 11% increase in the average net price per rental. Bookings and arrivals at Novasol and Landal GreenParks were strong as a result of enhanced marketing programs, supporting an expansion strategy to provide consumers with broader inventories and more destinations, as well as improved local economies.

Other ancillary revenues generated primarily from additional products and services provided to affiliates and members were $36 million in the second quarter of 2007, relatively flat to last year.

Second quarter of 2007 EBITDA was $49 million compared to second quarter of 2006 EBITDA of $32 million, which included a $21 million charge related to an accrual for local foreign taxes at our European vacation rental operations and $1 million of separation and related costs. Second quarter 2007 EBITDA included higher cost of sales on increased rentals and incremental expenses in operational infrastructures, including technology and call center costs to support higher volumes, as well as a reduction in results of $6 million related to certain Asia Pacific consulting relationships.

Compared to the second quarter of 2006, currency translations increased revenues by $10 million, principally rental related, and increased expenses by $9 million, resulting in a $1 million lift to EBITDA.

Vacation Ownership (Wyndham Vacation Ownership)

Revenues increased 21% to $629 million in the second quarter of 2007 compared with the second quarter of 2006 reflecting continued success in marketing and sales.

Gross Vacation Ownership Interest sales were $523 million for the second quarter of 2007, up 21% compared to the second quarter of 2006, driven by marketing efforts resulting in an 11% growth in tour flow and a 12% increase in volume per guest from strong performance by our sales force and continued strength in transaction pricing.

Consumer finance revenues increased 26% for the second quarter of 2007 compared to the second quarter of 2006 reflecting continued Vacation Ownership sales growth.

EBITDA for the second quarter of 2007 was $100 million. Excluding separation and related costs of $5 million, Adjusted EBITDA for the second quarter of 2007 was $105 million, increasing 22% from the second quarter of 2006, excluding $2 million from separation and related costs during that period. This EBITDA growth is consistent with the growth in Vacation Ownership sales.

As previously announced, the Company successfully completed a $600 million vacation ownership receivables securitization during the second quarter of 2007.

Other Items

Interest expense for the second quarter of 2007 was $18 million, a decrease of $5 million from the second quarter of 2006. This decrease is primarily due to interest related to a foreign tax accrual of $11 million in the second quarter of 2006, partially offset by higher rates and higher average borrowings due to differences in the Company’s capital structure since the spin-off. Interest income for the quarter was $2 million compared to $12 million in 2006, principally due to differences in the Company’s capital structure since the spin-off. Depreciation and amortization rose $5 million to $41 million.

Balance Sheet Information as of June 30, 2007:

	•		Cash and cash equivalents of approximately $250 million compared to approximately $270 million at December 31, 2006
	•		Vacation ownership and other inventory of approximately $1.1 billion compared to approximately $955 million at December 31, 2006
	•		Vacation ownership contract receivables, net, of $2.6 billion compared to $2.4 billion at December 31, 2006
	•		Securitized vacation ownership debt of $1.8 billion compared to $1.5 billion at December 31, 2006
	•		Other debt of $1.6 billion, compared to $1.4 billion at December 31, 2006

A schedule of debt is included in the financial tables section of this press release.

Share Repurchase

The Company repurchased 6.5 million shares of stock during the second quarter of 2007 at an average price of $36.10. The Company has substantially completed its program announced February 13, 2007, repurchasing a total of 11.7 million shares at an average price of $35.26.

Dividend

The Board of Directors declared a dividend of $0.04 per share payable September 4, 2007 to shareholders of record as of August 13, 2007.

Outlook and Guidance Increase

Wyndham Worldwide updates full year 2007 guidance as follows:

	•		Revenues of $4,340 – $4,480 million
	•		Adjusted EBITDA of $845 – $860 million, excluding separation and related costs of $10 – $20 million ($6 – $12 million, after-tax), as well as legacy matters
	•		Full year depreciation and amortization expense of $160 – $170 million
	•		Interest expense of $65 – $75 million
	•		Effective tax rate of 38%, excluding separation and related costs, as well as legacy matters
	•		Adjusted net income of $372 – $392 million, excluding separation and related costs, as well as legacy matters
	•		Full year Adjusted EPS of $2.02 – $2.13, excluding separation and related costs, as well as legacy matters, based on weighted average shares of approximately 184 million
	•		Third quarter Adjusted EPS of $0.70 – $0.73, excluding separation and related costs, as well as legacy matters, based on weighted average shares of approximately 184 million

“I am extremely proud of our results and accomplishments this year, which reflect the talent, dedication, and enthusiasm of our employees around the world. Their efforts have fostered an industry leading brand portfolio and built valued relationships with franchisees and developers. We offer the right products, brands and geographic distribution to capture the strength in worldwide leisure travel and deliver value to consumers around the globe. We look forward to continued success,” concluded Holmes.

Conference Call Information

Wyndham Worldwide Corporation will provide a webcast of its conference call to discuss the Company’s second quarter 2007 financial results on Wednesday, August 1 at 9 a.m. EDT. Listeners may access the webcast live through the Company’s Web site at www.wyndhamworldwide.com/investors/. An archive of this webcast will be available at the Web site for approximately 90 days beginning at noon EST on August 1. The conference call also may be accessed by dialing (517) 308-9108 and providing the pass code

“Wyndham.” Listeners are urged to call at least 10 minutes prior to the scheduled start time. A telephone replay will be available at (402) 220-3502 beginning at noon EDT on August 1 until 4 p.m. EST on August 6.

About Wyndham Worldwide

As one of the world’s largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses almost 6,500 franchised hotels and almost 542,000 hotel rooms worldwide. Group RCI offers its more than 3.4 million members access to over 60,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of approximately 140 vacation ownership resorts serving over 800,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs more than 30,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company’s web site at www.wyndhamworldwide.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, conveying management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to trends for the Company’s revenues, earnings and related financial and operating measures, the number of hotels and resorts the Company intends to add in future periods, debt levels, share repurchases and dividends.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward looking statements include general economic conditions, the economic environment for the hospitality industry, the impact of war and terrorist activity, operating risks associated with the hotel, vacation exchange and rentals and vacation ownership businesses, as well as those in the Company’s Annual Report on Form 10-K, filed with the SEC on March 7, 2007. Except for the Company’s ongoing obligations to disclose material information under the federal securities laws, it undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

It is not practical to provide a reconciliation of forecasted Adjusted EBITDA for the full year 2007 to the most directly comparable GAAP measure, net income, because certain items cannot be reasonably estimated or predicted at this time. Any of those items could be significant to our financial results.

# # #

Investor contact:		Press contact:
Margo C. Happer		Betsy O’Rourke
Senior Vice President, Investor Relations		Senior Vice President, Marketing and Communications
Wyndham Worldwide Corporation		Wyndham Worldwide Corporation
(973) 753-6472		(973) 753-7422
Margo.Happer@wyndhamworldwide.com		Betsy.O’Rourke@wyndhamworldwide.com

Table 1

Wyndham Worldwide Corporation
OPERATING RESULTS OF REPORTABLE SEGMENTS
(In millions)

In addition to other measures, management evaluates the operating results of each of its reportable segments based upon net revenues and “EBITDA,” which is defined as net income before depreciation and amortization, interest expense (excluding interest on securitized vacation ownership debt), income taxes and cumulative effect of accounting change, net of tax, each of which is presented on the Company’s Consolidated and Combined Statements of Income. The Company’s presentation of EBITDA may not be comparable to similarly-titled measures used by other companies.

The following tables summarize net revenues and EBITDA for reportable segments, as well as reconcile EBITDA to net income for the three and six months ended June 30, 2007 and 2006:

		Three Months Ended June 30,
		2007								2006
		Net Revenues				EBITDA (c)				Net Revenues				EBITDA (c)
Lodging		$	186			$	59			$	176			$	53
Vacation Exchange and Rentals			288				49				261				32
Vacation Ownership			629				100				518				84
Total Reportable Segments			1,103				208				955				169
Corporate and Other (a) (b)			(3	)			3				—				(3	)
Total Company		$	1,100			$	211			$	955			$	166
Reconciliation of EBITDA to Net Income
EBITDA						$	211							$	166
Depreciation and amortization							41								36
Interest expense							18								23
Interest income							(2	)							(12	)
Income before income taxes							154								119
Provision for income taxes							58								44
Net income						$	96							$	75

		Six Months Ended June 30,
		2007								2006
		Net Revenues				EBITDA (d)				Net Revenues				EBITDA (d)
Lodging		$	338			$	104			$	320			$	94
Vacation Exchange and Rentals			601				134				543				109
Vacation Ownership			1,178				162				963				148
Total Reportable Segments			2,117				400				1,826				351
Corporate and Other (a) (b)			(5	)			2				(1	)			(3	)
Total Company		$	2,112			$	402			$	1,825			$	348
Reconciliation of EBITDA to Net Income
EBITDA						$	402							$	348
Depreciation and amortization							79								70
Interest expense							35								33
Interest income							(5	)							(24	)
Income before income taxes							293								269
Provision for income taxes							111								101
Income before cumulative effect of accounting change							182								168
Cumulative effect of accounting change, net of tax							—								(65	)
Net income						$	182							$	103

Table 2

Wyndham Worldwide Corporation
CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF INCOME
(In millions, except per share data)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2007				2006				2007				2006
Net revenues
Vacation ownership interest sales		$	443			$	377			$	816			$	685
Service fees and membership			387				341				790				696
Franchise fees			137				134				251				243
Consumer financing			88				70				169				135
Other			45				33				86				66
Net revenues			1,100				955				2,112				1,825
Expenses
Operating			447				369				853				700
Cost of vacation ownership interests			104				80				195				147
Marketing and reservation			207				194				404				368
General and administrative (a)			124				141				245				254
Separation and related costs (b)			7				5				13				8
Depreciation and amortization			41				36				79				70
Total expenses			930				825				1,789				1,547
Operating income			170				130				323				278
Interest expense			18				23				35				33
Interest income			(2	)			(12	)			(5	)			(24	)
Income before income taxes			154				119				293				269
Provision for income taxes			58				44				111				101
Income before cumulative effect of accounting change			96				75				182				168
Cumulative effect of accounting change, net of tax (c)			—				—				—				(65	)
Net income		$	96			$	75			$	182			$	103
Earnings per share (d)
Basic
Income before cumulative effect of accounting change		$	0.53			$	0.37			$	0.98			$	0.84
Cumulative effect of accounting change, net of tax			—				—				—				(0.32	)
Net income		$	0.53			$	0.37			$	0.98			$	0.51
Diluted
Income before cumulative effect of accounting change		$	0.52			$	0.37			$	0.98			$	0.84
Cumulative effect of accounting change, net of tax			—				—				—				(0.32	)
Net income		$	0.52			$	0.37			$	0.98			$	0.51
Weighted average shares outstanding
Basic			181				200				185				200
Diluted			183				200				186				200

Table 3
(1 of 2)

Wyndham Worldwide Corporation
OPERATING STATISTICS

		Year				Q1				Q2				Q3				Q4				Full Year
Lodging (a)
Weighted Average Rooms Available			2007				529,700				530,700				N/A				N/A				N/A
			2006				520,600				531,000				529,200				529,900				527,700
			2005				517,400				512,000				511,500				535,100				519,000
			2004				512,000				510,700				507,300				503,000				508,200
Number of Properties (b)			2007				6,450				6,460				N/A				N/A				N/A
			2006				6,300				6,440				6,420				6,470				N/A
			2005				6,400				6,380				6,350				6,350				N/A
			2004				6,380				6,390				6,350				6,400				N/A
RevPAR			2007			$	31.35			$	38.35				N/A				N/A				N/A
			2006			$	30.45			$	36.97			$	40.82			$	31.41			$	34.95
			2005			$	25.53			$	31.91			$	36.86			$	29.72			$	31.00
			2004			$	22.50			$	29.08			$	34.04			$	24.53			$	27.55
Royalty, Marketing and Reservation Revenue (in 000s)			2007			$	105,426			$	129,453				N/A				N/A				N/A
			2006			$	102,741			$	125,409			$	138,383			$	104,505			$	471,039
			2005			$	84,704			$	104,281			$	119,829			$	99,804			$	408,620
			2004			$	77,830			$	97,959			$	112,765			$	82,502			$	371,058
Vacation Exchange and Rentals
Average Number of Members (in 000s)			2007				3,474				3,506				N/A				N/A				N/A
			2006				3,292				3,327				3,374				3,429				3,356
			2005				3,148				3,185				3,233				3,271				3,209
			2004				2,995				3,031				3,074				3,116				3,054
Annual Dues and Exchange Revenue Per Member			2007			$	155.60			$	132.33				N/A				N/A				N/A
			2006			$	152.10			$	130.37			$	132.31			$	128.13			$	135.62
			2005			$	159.12			$	134.98			$	125.64			$	124.05			$	135.76
			2004			$	159.55			$	132.51			$	123.55			$	124.43			$	134.82
Vacation Rental Transactions (in 000s)			2007				398				326				N/A				N/A				N/A
			2006				385				310				356				293				1,344
			2005				367				311				344				278				1,300
			2004				309				246				295				253				1,104
Average Net Price Per Vacation Rental			2007			$	349.73			$	415.71				N/A				N/A				N/A
			2006			$	312.51			$	374.91			$	442.75			$	356.16			$	370.93
			2005			$	331.37			$	363.14			$	412.66			$	325.62			$	359.27
			2004			$	279.46			$	333.76			$	368.79			$	337.42			$	328.77
Vacation Ownership
Gross Vacation Ownership Interest Sales (in 000s)			2007			$	430,000			$	523,000				N/A				N/A				N/A
			2006			$	357,000			$	434,000			$	482,000			$	469,000			$	1,743,000
			2005			$	281,000			$	354,000			$	401,000			$	360,000			$	1,396,000
			2004			$	274,000			$	315,000			$	361,000			$	304,000			$	1,254,000
Tours			2007				240,000				304,000				N/A				N/A				N/A
			2006				208,000				273,000				312,000				254,000				1,046,000
			2005				195,000				250,000				272,000				217,000				934,000
			2004				181,000				227,000				246,000				205,000				859,000
Volume Per Guest (VPG)			2007			$	1,607			$	1,596				N/A				N/A				N/A
			2006			$	1,475			$	1,426			$	1,434			$	1,623			$	1,486
			2005			$	1,349			$	1,284			$	1,349			$	1,507			$	1,368
			2004			$	1,303			$	1,253			$	1,273			$	1,327			$	1,287

Table 3
(2 of 2)

Wyndham Worldwide Corporation
OPERATING STATISTICS

GLOSSARY OF TERMS

Lodging

Weighted Average Rooms Available: Represents the weighted average number of hotel rooms available for rental during the period.

Number of Properties: Represents the number of lodging properties under franchise and/or management agreements at the end of the period.

Number of Rooms: Represents the number of rooms at lodging properties under franchise and/or management agreements at the end of the period.

Average Occupancy Rate: Represents the percentage of available rooms occupied during the period.

Average Daily Rate (ADR): Represents the average rate charged for renting a lodging room for one day.

RevPAR: Represents revenue per available room and is calculated by multiplying average occupancy rate by ADR.

Royalty, Marketing and Reservation Revenue: Royalty, marketing and reservation revenue are typically based on a percentage of the gross room revenues of each franchised hotel. Royalty revenue is generally a fee charged to each franchised hotel for the use of one of our trade names, while marketing and reservation revenue are fees that we collect and are contractually obligated to spend to support marketing and reservation activities.

Vacation Exchange and Rentals

Average Number of Members: Represents members in our vacation exchange programs who pay annual membership dues. For additional fees, such participants are entitled to exchange intervals for intervals at other properties affiliated with our vacation exchange business. In addition, certain participants may exchange intervals for other leisure-related products and services.

Annual Dues and Exchange Revenue Per Member: Represents total revenues from annual membership dues and exchange fees generated for the period divided by the average number of vacation exchange members during the year.

Vacation Rental Transactions: Represents the gross number of transactions that are generated in connection with customers booking their vacation rental stays through us. In our European vacation rentals businesses, one rental transaction is recorded each time a standard one-week rental is booked; however, in the United States, one rental transaction is recorded each time a vacation rental stay is booked, regardless of whether it is less than or more than one week.

Average Net Price Per Vacation Rental: Represents the net rental price generated from renting vacation properties to customers divided by the number of rental transactions.

Vacation Ownership

Gross Vacation Ownership Interest Sales: Represents gross sales of vacation ownership interests (including tele-sales upgrades, which are a component of upgrade sales) before deferred sales and loan loss provisions.

Tours: Represents the number of tours taken by guests in our efforts to sell vacation ownership interests.

Volume per Guest (VPG): Represents revenue per guest and is calculated by dividing the gross vacation ownership interest sales, excluding tele-sales upgrades, which are a component of upgrade sales, by the number of tours.

Table 4

Wyndham Worldwide Corporation
SCHEDULE OF DEBT
(In millions)

		June 30,				March 31,				December 31,				September 30,				June 30,
		2007				2007				2006				2006				2006
Securitized vacation ownership debt
Term notes		$	1,322			$	887			$	838			$	967			$	575
Bank conduit facility (a)			491				826				625				371				653
Securitized vacation ownership debt (b)			1,813				1,713				1,463				1,338				1,228
Less: Current portion of securitized vacation ownership debt			242				231				178				213				210
Long-term securitized vacation ownership debt		$	1,571			$	1,482			$	1,285			$	1,125			$	1,018
Debt:
6.00% Senior unsecured notes (due December 2016) (c)		$	797			$	796			$	796			$	—			$	—
Revolving credit facility (due July 2011) (d)			215				48				—				150				—
Interim loan facility (due July 2007)			—				—				—				350				—
Term loan (due July 2011)			300				300				300				300				—
Vacation ownership asset-linked facility (e)			—				—				—				—				600
Bank borrowings:
Vacation ownership			130				112				103				113				111
Vacation rentals (f)			—				—				73				70				70
Vacation rentals capital leases			147				147				148				144				145
Other			14				16				17				37				35
Total debt			1,603				1,419				1,437				1,164				961
Less: Current portion of debt			140				123				115				143				207
Long-term debt		$	1,463			$	1,296			$	1,322			$	1,021			$	754

Table 5

Wyndham Worldwide Corporation
HOTEL BRAND SYSTEMS DETAILS

		June 30, 2007
																		Average
																		Revenue Per
		Number of								Average				Average Daily				Available Room
Brand		Properties				Number of Rooms				Occupancy Rate				Rate (ADR)				(RevPAR)
Wyndham Hotels and Resorts			75				19,945				62.7	%		$	118.17			$	74.06
Wingate Inn			154				14,172				69.9	%		$	91.30			$	63.84
Ramada			859				105,299				57.8	%		$	78.11			$	45.12
Baymont			169				14,986				55.4	%		$	69.77			$	38.63
AmeriHost Inn			54				3,673				49.7	%		$	67.16			$	33.35
Days Inn			1,862				150,984				56.3	%		$	62.63			$	35.24
Super 8			2,054				126,450				59.1	%		$	58.17			$	34.39
Howard Johnson			468				44,667				50.7	%		$	65.05			$	32.99
Travelodge			496				37,284				51.4	%		$	66.25			$	34.04
Knights Inn			252				18,019				43.3	%		$	43.75			$	18.93
Unmanaged, Affiliated and Managed, Non-Proprietary Hotels (*)			19				6,197				N/A				N/A				N/A
Total			6,462				541,676				56.5	%		$	67.86			$	38.35

		June 30, 2006
																		Average
																		Revenue Per
		Number of								Average				Average Daily				Available Room
Brand		Properties				Number of Rooms				Occupancy Rate				Rate (ADR)				(RevPAR)
Wyndham Hotels and Resorts			87				23,959				70.5	%		$	109.55			$	77.19
Wingate Inn			148				13,665				69.2	%		$	83.95			$	58.13
Ramada			892				107,735				56.8	%		$	72.86			$	41.35
Baymont			130				11,649				58.5	%		$	64.52			$	37.76
AmeriHost Inn			110				7,693				56.9	%		$	61.25			$	34.85
Days Inn			1,850				150,162				54.9	%		$	60.57			$	33.23
Super 8			2,038				124,247				58.8	%		$	55.41			$	32.56
Howard Johnson			463				42,947				49.2	%		$	66.30			$	32.64
Travelodge			500				37,132				52.7	%		$	62.54			$	32.96
Knights Inn			223				16,713				45.1	%		$	40.33			$	18.18
Total			6,441				535,902				56.4	%		$	65.50			$	36.97

Table 6
(1 of 2)

Wyndham Worldwide Corporation
NON-GAAP RECONCILIATIONS
(In millions, except per share data)

		Three Months Ended								Six Months Ended
		March 31, 2007				June 30, 2007				June 30, 2007
Reported EBITDA		$	192			$	211			$	402
Separation and related costs (a)			6				7				13
Resolution of and adjustment to contingent liabilities and assets (b)			(13	)			(17	)			(30	)
Adjusted EBITDA		$	185			$	201			$	385
Reported PreTax Income		$	139			$	154			$	293
Separation and related costs (a)			6				7				13
Resolution of and adjustment to contingent liabilities and assets (b)			(13	)			(17	)			(30	)
Adjusted PreTax Income		$	132			$	144			$	276
Reported Tax Provision		$	(53	)		$	(58	)		$	(111	)
Separation and related costs (c)			(2	)			(3	)			(5	)
Resolution of and adjustment to contingent liabilities and assets (c)			4				6				10
Adjusted Tax Provision		$	(51	)		$	(55	)		$	(106	)
Reported Net Income		$	86			$	96			$	182
Separation and related costs			4				4				8
Resolution of and adjustment to contingent liabilities and assets			(9	)			(11	)			(20	)
Adjusted Net Income		$	81			$	89			$	170
Reported Diluted EPS		$	0.45			$	0.52			$	0.98
Separation and related costs			0.02				0.02				0.04
Resolution of and adjustment to contingent liabilities and assets			(0.05	)			(0.06	)			(0.10	)
Adjusted Diluted EPS		$	0.43			$	0.49			$	0.91
Diluted Shares			190				183				186

Table 6
(2 of 2)

Wyndham Worldwide Corporation
NON-GAAP RECONCILIATIONS
(In millions, except per share data)

		Three Months Ended								Six Months Ended
		March 31, 2006				June 30, 2006				June 30, 2006
Reported EBITDA		$	182			$	166			$	348
Separation and related costs (a)			3				5				8
Incremental stand-alone costs (b)			(13	)			(13	)			(26	)
Adjusted EBITDA		$	172			$	158			$	330
Reported Depreciation and Amortization		$	(34	)		$	(36	)		$	(70	)
Incremental stand-alone costs (b)			(1	)			(1	)			(2	)
Adjusted Depreciation and Amortization		$	(35	)		$	(37	)		$	(72	)
Reported Interest Income/(Expense), Net			2			$	(11	)		$	(9	)
Incremental stand-alone costs (b)		$	(12	)			(12	)			(24	)
Adjusted Interest Expense, Net		$	(10	)		$	(23	)		$	(33	)
Reported PreTax Income		$	150			$	119			$	269
Separation and related costs (a)			3				5				8
Incremental stand-alone costs (b)			(26	)			(26	)			(52	)
Adjusted PreTax Income		$	127			$	98			$	225
Reported Tax Provision		$	(57	)		$	(44	)		$	(101	)
Separation and related costs (c)			(2	)			(2	)			(4	)
Incremental stand-alone costs (c)			10				10				20
Adjusted Tax Provision		$	(49	)		$	(36	)		$	(85	)
Reported Net Income		$	28			$	75			$	103
Cumulative effect of SFAS No. 152 (d)			65				—				65
Reported Income before Cumulative Effect of SFAS No. 152			93				75				168
Separation and related costs			1				3				4
Incremental stand-alone costs			(16	)			(16	)			(32	)
Adjusted Net Income		$	78			$	62			$	140
Reported Diluted EPS		$	0.14			$	0.37			$	0.51
Cumulative effect of SFAS No. 152			0.32				—				0.32
Reported Income before Cumulative Effect of SFAS No. 152			0.46				0.37				0.84
Separation and related costs			0.00				0.01				0.02
Incremental stand-alone costs			(0.08	)			(0.08	)			(0.16	)
Adjusted Diluted EPS		$	0.39			$	0.31			$	0.70
Diluted Shares (e)			200				200				200

Table 7
(1 of 4)

Wyndham Worldwide Corporation
NON-GAAP FINANCIAL INFORMATION
(In millions, except per share data)

		Three Months Ended June 30, 2007
						Separation and				Legacy and
						Related				Other
		As Reported				Adjustments				Adjustments				As Adjusted
Net revenues
Vacation ownership interest sales		$	443											$	443
Service fees and membership			387												387
Franchise fees			137												137
Consumer financing			88												88
Other			45												45
Net revenues			1,100				—				—				1,100
Expenses
Operating			447												447
Cost of vacation ownership interests			104												104
Marketing and reservation			207												207
General and administrative			124								17	(b)			141
Separation and related costs			7				(7	)(a)							—
Depreciation and amortization			41												41
Total expenses			930				(7	)			17				940
Operating income			170				7				(17	)			160
Interest expense			18												18
Interest income			(2	)											(2	)
Income before income taxes			154				7				(17	)			144
Provision for income taxes			58				3	(c)			(6	)(c)			55
Net income		$	96			$	4			$	(11	)		$	89
Earnings per share
Basic		$	0.53			$	0.02			$	(0.06	)		$	0.49
Diluted			0.52				0.02				(0.06	)			0.49
Weighted average shares outstanding
Basic		$	181				181				181				181
Diluted			183				183				183				183