Exhibit 99.1
FOR IMMEDIATE RELEASE
Wyndham Worldwide Completes $450 Million
Vacation Ownership Receivables Securitization
Vacation Ownership Receivables Securitization
PARSIPPANY, N.J. (June 30, 2008) — Wyndham Worldwide Corporation (NYSE:WYN) today announced that it
has completed a term securitization transaction involving the issuance of $450 million of
investment grade asset-backed notes by Sierra Timeshare 2008-2 Receivables Funding, LLC, an
indirect subsidiary of Wyndham Vacation Ownership. The notes are backed by vacation ownership
receivables originated by subsidiaries of Wyndham Vacation Ownership. The 2008-2 transaction has a
cost of funds, excluding transaction fees, of 7.15%.
The notes have not been registered under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable exemption from the
registration requirements.
About Wyndham Worldwide Corporation
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 more than 6,550 franchised hotels and approximately 551,000
hotel rooms worldwide. Group RCI offers its more than 3.6 million members access to more than
67,000 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 145 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 33,000 employees globally.
For more information about Wyndham Worldwide, please visit the company’s web site at
www.WyndhamWorldwide.com.
# # #
| 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 |