EXHIBIT 99.1

Wyndham Worldwide Reports
Strong Fourth Quarter and Full Year 2010 Earnings
Increases Dividend 25%

PARSIPPANY, N.J. (February 9, 2011) — Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months and year ended December 31, 2010.

Highlights:

•

Fourth quarter adjusted diluted earnings per share (EPS) was $0.46, compared with $0.40 in the fourth quarter of 2009, an increase of 15%. Fourth quarter 2010 reported diluted EPS was $0.43, an increase of 8% from the same period in 2009.

•

Free cash flow increased 11% to $603 million for the year ended December 31, 2010, compared with $541 million in 2009. The Company defines free cash flow as net cash provided by operating activities less capital expenditures, equity investments and development advances and excluding a previously announced cash payment related to contingent IRS tax liabilities.

•

The Company’s Board of Directors authorized an increase of the quarterly cash dividend to $0.15 from $0.12 per share, beginning with the dividend that is expected to be declared in the first quarter of 2011.

•

During the quarter, the Company repurchased approximately 1.6 million shares of its common stock at an average price of $29.20. For the full-year 2010, the Company repurchased approximately 9.3 million shares of its common stock at an average price of $25.52.

“We are pleased to report these results, which are further evidence of the strength of our business models and great execution throughout the company,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. “We delivered strong cash flow and look to continue to deploy free cash flow to create more value for our shareholders in 2011 through acquisitions, share repurchases and dividends.”

FOURTH QUARTER 2010 OPERATING RESULTS

Fourth quarter revenues increased 3% from the prior year period to $937 million. Excluding the $47 million of Vacation Ownership revenue associated with the percentage-of-completion (POC) accounting method in the fourth quarter of 2009, fourth quarter 2010 adjusted revenue growth was 8%. The adjusted revenue growth reflects

continued sales momentum across the Company’s three business units and incremental contributions from acquisitions.

For the fourth quarter of 2010, adjusted net income increased by 15% to $84 million, compared with $73 million for the same period in 2009. The increase primarily reflects higher RevPAR in the Lodging business, strong operational performance by the Vacation Ownership business and a lower effective tax rate. Adjusted net income for the fourth quarter of 2010 excludes a $6 million after-tax restructuring charge, a $2 million after-tax loss incurred for the repurchase of a portion of the Company’s 3.50% convertible notes and a $3 million after-tax net benefit related to the adjustment and resolution of certain contingent liabilities and assets.

Reported net income for the fourth quarter of 2010 was $78 million, or $0.43 per diluted share, compared with net income of $73 million, or $0.40 per diluted share, for the fourth quarter of 2009.

FULL YEAR 2010 OPERATING RESULTS

Reported revenues for full year 2010 were $3.9 billion, an increase of 3% over the prior-year period. Excluding the $187 million of Vacation Ownership revenue associated with the POC accounting method for the full year 2009, full year 2010 adjusted revenue growth was 8%. The adjusted revenue growth reflects continued sales momentum across the Company’s three business units and incremental contributions from acquisitions.

Adjusted net income for the full year 2010 increased by 13% to $368 million, compared with $327 million for the prior-year period. The increase primarily reflects higher RevPAR in the Lodging business, strong operational performance by the Vacation Ownership business, contributions from acquisitions in the Exchange and Rentals and Lodging businesses and a lower effective tax rate. Adjusted net income for the full year 2010 excludes a $41 million after-tax net benefit principally related to the resolution of the IRS examination of taxable years 2003 through 2006, an $18 million after-tax charge for the early extinguishment of debt, a $6 million after-tax charge for acquisition costs and a $6 million after-tax restructuring charge.

Reported net income for full year 2010 was $379 million, or $2.05 per diluted share, compared with net income of $293 million, or $1.61 per diluted share, for the prior-year period.

Free cash flow increased 11% to $603 million in the twelve-month period ended December 31, 2010 compared with $541 million in the same period in 2009. The growth of free cash flow reflects higher cash earnings and more efficient working capital utilization. For the twelve months ended December 31, 2010, cash provided by operating activities was $635 million, or $780 million excluding a previously announced one-time payment of $145 million related to a contingent IRS tax liability. Cash provided by operating activities was $689 million for the prior-year period.

BUSINESS UNIT RESULTS

Lodging (Wyndham Hotel Group)

Revenues were $163 million in the fourth quarter of 2010, an increase of 9%, compared with the fourth quarter of 2009 reflecting RevPAR improvement of 10% as well as incremental revenue from the recently acquired Tryp hotel brand and higher fees generated from ancillary services provided to franchisees.

EBITDA was $40 million, an increase of 25%, compared with the fourth quarter of 2009 reflecting the RevPAR improvement and the absence of a $6 million impairment charge recorded in 2009, partially offset by higher operating costs.

As of December 31, 2010, the Company’s hotel system consisted of approximately 7,210 properties and 612,700 rooms. The development pipeline included over 900 hotels and approximately 103,000 rooms, of which 55% were new construction and 51% were international.

Vacation Exchange and Rentals (Wyndham Exchange & Rentals)

Revenues were $282 million in the fourth quarter of 2010, an increase of 9% compared with the fourth quarter of 2009. In constant currency, revenues increased by 12%.

Exchange revenues were $153 million, relatively flat compared with the fourth quarter of 2009. Exchange revenue per member and the average number of members were flat.

Vacation rental revenues were $114 million, a 16% increase compared with the fourth quarter of 2009. In constant currency, vacation rental revenues increased 24% from the fourth quarter of 2009, primarily reflecting the contribution of incremental revenues from acquired businesses.

Excluding restructuring costs of $9 million and costs related to the acquisition of James Villa Holidays of $1 million, fourth quarter 2010 adjusted EBITDA decreased 13% compared with the prior-year period, reflecting the seasonality of the acquired rental businesses. Excluding the impact of acquisitions, adjusted EBITDA for the fourth quarter of 2010 was flat compared with the fourth quarter of 2009.

Wyndham Exchange & Rentals acquired James Villa Holidays on November 30, 2010, resulting in the addition of approximately 2,300 villas and unique vacation rental properties in over 50 destinations across Mediterranean vacation locations. This acquisition enhances the Company’s leading position as the world’s largest serviced vacation rentals business, providing access to approximately 97,000 vacation properties worldwide.

Vacation Ownership (Wyndham Vacation Ownership)

Gross Vacation Ownership Interest (VOI) sales were $373 million in the fourth quarter of 2010, up 9% from the fourth quarter of 2009, reflecting a 13% increase in tour flow. Volume per guest was flat compared with the prior year.

Total segment revenues were $497 million in the fourth quarter of 2010, compared with $508 million in the fourth quarter of 2009, which included the recognition of $47 million of previously deferred POC revenues. The absence of these revenues in the fourth quarter of 2010 was partially offset by an increase in gross VOI sales, a lower provision for loan losses and incremental sales under the Wyndham Asset Affiliation Model (WAAM).

EBITDA for the fourth quarter of 2010 was $131 million, compared with EBITDA of $132 million in the fourth quarter of 2009. Excluding an estimated $22 million impact from the POC method of accounting in the fourth quarter of 2009, fourth quarter 2010 adjusted EBITDA growth was 19%. This growth reflected the lower provision for loan losses and the increase in VOI sales.

Other Items

	•		The Company repurchased approximately 1.6 million shares of its common stock during the fourth quarter of 2010 at an average price of $29.20 and an additional 455,000 shares at an average price of $29.51 through February 8, 2011.
	•		During the fourth quarter of 2010, the Company repurchased $22 million face value of its 3.50% convertible notes and retired the proportionate share of the call options and warrants associated with these notes.
	•		Net interest expense in the fourth quarter of 2010 was $34 million, an increase of $1 million from the fourth quarter of 2009, primarily reflecting a $3 million loss incurred for the repurchase of a portion of the Company’s 3.50% convertible notes during the fourth quarter of 2010.

Balance Sheet Information as of December 31, 2010:

	•		Cash and cash equivalents of approximately $155 million, unchanged from December 31, 2009
	•		Vacation ownership contract receivables, net, of $3.0 billion, compared with $3.1 billion at December 31, 2009
	•		Vacation ownership and other inventory of approximately $1.2 billion, compared with $1.3 billion at December 31, 2009
	•		Securitized vacation ownership debt of $1.7 billion, compared with $1.5 billion at December 31, 2009
	•		Other debt of $2.1 billion, compared with $2.0 billion at December 31, 2009. The remaining borrowing capacity on the revolving credit facility was $788 million, compared with $869 million as of December 31, 2009.

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

Outlook

The Company’s full-year 2011 guidance is:

	•		Revenues of approximately $4.0 — $4.2 billion
	•		Adjusted EBITDA of approximately $925 — $955 million

The guidance reflects assumptions used for internal planning purposes. All guidance excludes legacy items, restructuring costs, debt extinguishment and acquisition costs, if

any, which may have a positive or negative impact on reported results. If economic conditions change materially from current levels, these assumptions and our guidance may change materially. It is not practicable to provide a reconciliation of forecasted adjusted EBITDA to the most directly comparable GAAP measure because certain items cannot be reasonably estimated or predicted at this time. Any such items could be significant to our financial results.

Conference Call Information

Wyndham Worldwide Corporation will hold a conference call with investors to discuss this news on Wednesday, February 9, 2011 at 8:30 a.m. EST. Listeners may access the webcast live through the Company’s website at www.wyndhamworldwide.com/investors/. An archive of this webcast will be available at the website for approximately 90 days beginning at noon EST on February 9, 2011. The conference call may also be accessed by dialing (800) 369-2052 and providing the passcode “WYNDHAM.” Listeners are urged to call at least 10 minutes prior to the scheduled start time. A telephone replay will be available for approximately 90 days beginning at noon EST on February 9, 2011, at (800) 294-7481.

Presentation of Financial Information

Financial information discussed in this press release includes both GAAP and non-GAAP measures, which include or exclude certain items. These non-GAAP measures differ from reported results and are intended to illustrate what management believes are relevant period-over-period comparisons. A complete reconciliation of reported GAAP results to the comparable non-GAAP information appears in the financial tables section of the press release.

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 approximately 7,210 franchised hotels and approximately 612,700 hotel rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.8 million members, access to approximately 97,000 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 over 160 vacation ownership resorts serving nearly 815,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 26,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company’s website 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 the Company’s revenues, earnings, dividends and related financial and operating measures.

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 performance of the financial and credit markets, the economic environment for the hospitality industry, the impact of war, terrorist activity or political strife, operating risks associated with the hotel, vacation exchange and rentals and vacation ownership businesses, as well as those described in the Company’s Quarterly Report on Form 10-Q, filed with the SEC on October 28, 2010. 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.

# # #

Investor and Media contact:
Margo C. Happer
Senior Vice President, Investor Relations
Wyndham Worldwide Corporation
(973) 753-6472
margo.happer@wyn.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 consumer financing interest), interest income (excluding consumer financing interest) and income taxes, each of which is presented on the Company’s Consolidated Statements of Operations. The Company believes that EBITDA is a useful measure of performance for the Company’s industry segments which, when considered with GAAP measures, the Company believes gives a more complete understanding of its operating performance. 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 twelve months ended December 31, 2010 and 2009:

		Three Months Ended December 31,
		2010								2009
		Net Revenues				EBITDA				Net Revenues				EBITDA
Lodging		$	163			$	40			$	149			$	32	(k)
Vacation Exchange and Rentals			282				32	(d)			258				48
Vacation Ownership			497				131				508				132	(l)
Total Reportable Segments			942				203				915				212
Corporate and Other (a) (b)			(5	)			(20	)			(2	)			(18	)
Total Company		$	937			$	183			$	913			$	194
Reconciliation of EBITDA to Net Income
EBITDA						$	183							$	194
Depreciation and amortization							44								44
Interest expense							34	(e)							35
Interest income							—								(2	)
Income before income taxes							105								117
Provision for income taxes							27								44
Net income						$	78							$	73

		Twelve Months Ended December 31,
		2010								2009
		Net Revenues				EBITDA				Net Revenues				EBITDA
Lodging		$	688			$	189	(f)		$	660			$	175	(k)
Vacation Exchange and Rentals			1,193				293	(d) (g)			1,152				287
Vacation Ownership			1,979				440	(h)			1,945				387	(h)
Total Reportable Segments			3,860				922				3,757				849
Corporate and Other (a) (c)			(9	)			(24	)			(7	)			(71	)
Total Company		$	3,851			$	898			$	3,750			$	778
Reconciliation of EBITDA to Net Income
EBITDA						$	898							$	778
Depreciation and amortization							173								178
Interest expense							167	(i) (j)							114
Interest income							(5	)							(7	)
Income before income taxes							563								493
Provision for income taxes							184								200
Net income						$	379							$	293

Table 2

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

		Three Months Ended								Twelve Months Ended
		December 31,								December 31,
		2010				2009				2010				2009
Net revenues
Service fees and membership		$	409			$	371			$	1,706			$	1,613
Vacation ownership interest sales			276				287				1,072				1,053
Franchise fees			107				98				461				440
Consumer financing			107				109				425				435
Other			38				48				187				209
Net revenues			937				913				3,851				3,750
Expenses
Operating (a)			409				356				1,587	(b)			1,501
Cost of vacation ownership interests			47				47				184				183
Consumer financing interest			25				37				105				139
Marketing and reservation			121				137				531				560
General and administrative (c)			145				136				540				533
Asset impairment			—				7	(d)			4	(e)			15	(d)
Restructuring costs			9	(f)			1	(g)			9	(f)			47	(g)
Depreciation and amortization			44				44				173				178
Total expenses			800				765				3,133				3,156
Operating income			137				148				718				594
Other income, net			(2	)			(2	)			(7	)			(6	)
Interest expense			34	(h)			35				167	(h)			114
Interest income			—				(2	)			(5	)			(7	)
Income before income taxes			105				117				563				493
Provision for income taxes			27				44				184				200
Net income		$	78			$	73			$	379			$	293
Earnings per share
Basic		$	0.45			$	0.41			$	2.13			$	1.64
Diluted			0.43				0.40				2.05				1.61
Weighted average shares outstanding
Basic			174				179				178				179
Diluted			182				184				185				182

Table 3

(1 of 3)

Wyndham Worldwide Corporation
OPERATING STATISTICS

		Year				Q1				Q2				Q3				Q4				Full Year
Lodging (a)
Number of Rooms			2010				593,300				606,800				605,700				612,700				N/A
			2009				588,500				590,200				590,900				597,700				N/A
			2008				551,100				551,500				583,400				592,900				N/A
			2007				539,300				541,700				540,900				550,600				N/A
RevPAR			2010			$	25.81			$	32.25			$	37.14			$	29.18			$	31.14
			2009			$	27.69			$	32.38			$	34.81			$	26.47			$	30.34
			2008			$	32.21			$	38.87			$	41.93			$	30.03			$	35.74
			2007			$	31.35			$	38.35			$	43.10			$	33.09			$	36.48
Vacation Exchange and Rentals (b)
Average Number of Members (in 000s)			2010				3,746				3,741				3,766				3,759				3,753
			2009				3,789				3,795				3,781				3,765				3,782
			2008				3,632				3,682				3,673				3,693				3,670
			2007				3,474				3,506				3,538				3,588				3,526
Exchange Revenue Per Member			2010			$	201.93			$	172.20			$	173.44			$	162.59			$	177.53
			2009			$	194.83			$	174.22			$	173.90			$	163.89			$	176.73
			2008			$	234.05			$	201.04			$	193.39			$	165.99			$	198.48
			2007			$	236.71			$	203.84			$	203.44			$	195.86			$	209.80
Vacation Rental Transactions (in 000s) (c)			2010				291				297				322				253				1,163
			2009				273				231				264				196				964
			2008				269				220				255				191				936
			2007				272				223				254				192				942
Average Net Price Per Vacation Rental (c)			2010			$	361.17			$	387.01			$	500.31			$	449.12			$	425.38
			2009			$	353.15			$	471.74			$	594.34			$	499.66			$	477.38
			2008			$	442.50			$	541.69			$	659.93			$	460.86			$	528.95
			2007			$	365.20			$	465.60			$	598.26			$	504.47			$	480.32
Vacation Ownership
Gross Vacation Ownership Interest (VOI) Sales (in 000s) (d)			2010			$	308,000			$	371,000			$	412,000			$	373,000			$	1,464,000
			2009			$	280,000			$	327,000			$	366,000			$	343,000			$	1,315,000
			2008			$	458,000			$	532,000			$	566,000			$	432,000			$	1,987,000
			2007			$	430,000			$	523,000			$	552,000			$	488,000			$	1,993,000
Tours			2010				123,000				163,000				187,000				160,000				634,000
			2009				137,000				164,000				173,000				142,000				617,000
			2008				255,000				314,000				334,000				240,000				1,143,000
			2007				240,000				304,000				332,000				268,000				1,144,000
Volume Per Guest (VPG)			2010			$	2,334			$	2,156			$	2,081			$	2,214			$	2,183
			2009			$	1,866			$	1,854			$	1,944			$	2,210			$	1,964
			2008			$	1,668			$	1,583			$	1,550			$	1,630			$	1,602
			2007			$	1,607			$	1,596			$	1,545			$	1,690			$	1,606

Note: Full year amounts may not foot across due to rounding.

Table 3
(2 of 3)

Wyndham Worldwide Corporation
ADDITIONAL DATA

		Year				Q1				Q2				Q3				Q4				Full Year
Lodging (a)
Number of Properties			2010				7,090				7,160				7,150				7,210				N/A
			2009				6,990				7,020				7,040				7,110				N/A
			2008				6,550				6,560				6,970				7,040				N/A
			2007				6,450				6,460				6,460				6,540				N/A
Vacation Ownership
Deferred Revenues (in 000s) (b)			2010			$	—			$	—			$	—			$	—			$	—
			2009			$	67,000			$	37,000			$	36,000			$	47,000			$	187,000
			2008			$	(82,000	)		$	(5,000	)		$	(2,000	)		$	14,000			$	(75,000	)
			2007			$	4,000			$	(5,000	)		$	1,000			$	(21,000	)		$	(22,000	)
Provision for Loan Losses (in 000s) (c)			2010			$	86,000			$	87,000			$	85,000			$	82,000			$	340,000
			2009			$	107,000			$	122,000			$	117,000			$	103,000			$	449,000
			2008			$	82,000			$	113,000			$	119,000			$	136,000			$	450,000
			2007			$	61,000			$	75,000			$	86,000			$	84,000			$	305,000
Sales under WAAM (in 000s) (d)			2010			$	5,000			$	13,000			$	20,000			$	14,000			$	51,000
WAAM Commission Revenues (in 000s)			2010			$	3,000			$	8,000			$	12,000			$	9,000			$	31,000

Note: Full year amounts may not foot across due to rounding.

Table 3
(3 of 3)

Wyndham Worldwide Corporation
OPERATING STATISTICS

GLOSSARY OF TERMS

Lodging

Number of Rooms: Represents the number of rooms at lodging properties at the end of the period which are either (i) under franchise and/or management agreements, (ii) properties under affiliation agreements for which we receive a fee for reservation and/or other services provided or (iii) properties managed under a joint venture.

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. Comparable RevPAR represents RevPAR of hotels which are included in both periods.

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.

Exchange Revenue Per Member: Represents total revenue generated from fees associated with memberships, exchange transactions, member-related rentals and other servicing for the period divided by the average number of vacation exchange members during the period.

Vacation Rental Transactions: Represents the number of transactions that are generated in connection with customers booking their vacation rental stays through us. One rental transaction is recorded each time a standard one-week rental is booked.

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

Vacation Ownership

Gross Vacation Ownership Interest Sales: Represents sales of vacation ownership interest (VOIs), including Wyndham Asset Affiliation Model sales, before the net effect of percentage-of-completion accounting and loan loss provisions. See Table 9 for a reconciliation of Gross VOI sales to Vacation Ownership Interest Sales. We believe that Gross VOI sales provides an enhanced understanding of the performance of our vacation ownership business because it directly measures the sales volume of this business during a given reporting period.

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

Volume per Guest (VPG): Represents gross VOI sales (excluding tele-sales upgrades, which are non-tour upgrade sales) divided by the number of tours. We have excluded non-tour upgrade sales in the calculation of VPG because non-tour upgrade sales are generated by a different marketing channel. See Table 9 for a detail of tele-sales upgrades for 2007-2010. We believe that VPG provides an enhanced understanding of the performance of our vacation ownership business because it directly measures the efficiency of this business’ tour selling efforts during a given reporting period.

General

Constant Currency: Represents a comparison eliminating the effects of foreign exchange rate fluctuations between periods.

Table 4

Wyndham Worldwide Corporation
REVENUE DETAIL BY REPORTABLE SEGMENT
(In millions)

		2010																				2009
		Q1				Q2				Q3				Q4				Year				Q1				Q2				Q3				Q4				Year
Lodging
Royalties and Franchise Fees		$	52			$	69			$	82			$	62			$	265			$	57			$	68			$	72			$	57			$	254
Marketing, Reservation and Wyndham Rewards Revenues (a)			50				65				76				60				251				54				66				73				53				246
Hotel Management Reimbursable Revenues (b)			21				20				18				18				77				22				23				21				19				85
Ancillary Revenues (c)			21				24				27				23				95				21				17				17				20				75
Total Lodging			144				178				203				163				688				154				174				183				149				660
Vacation Exchange and Rentals
Exchange Revenues			189				161				163				153				666				185				165				164				154				668
Rental Revenues			105				115				161				114				495				96				109				157				98				460
Ancillary Revenues (d)			6				5				6				15				32				6				6				6				6				24
Total Vacation Exchange and Rentals			300				281				330				282				1,193				287				280				327				258				1,152
Vacation Ownership
Vacation Ownership Interest Sales			217				271				308				276				1,072				239				242				285				287				1,053
Consumer Financing			105				106				107				107				425				109				109				108				109				435
Property Management Fees			100				100				104				101				405				91				94				96				95				376
Sales under the WAAM			3				8				12				8				31				—				—				—				—				—
Ancillary Revenues (e)			19				20				2				5				46				23				22				19				17				81
Total Vacation Ownership			444				505				533				497				1,979				462				467				508				508				1,945
Total Reportable Segments		$	888			$	964			$	1,066			$	942			$	3,860			$	903			$	921			$	1,018			$	915			$	3,757

		2008																				2007
		Q1				Q2				Q3				Q4				Year				Q1				Q2				Q3				Q4				Year
Lodging
Royalties and Franchise Fees		$	64			$	78			$	88			$	66			$	297			$	63			$	78			$	89			$	67			$	296
Marketing, Reservation and Wyndham Rewards Revenues (a)			60				75				84				61				280				60				73				84				64				281
Hotel Management Reimbursable Revenues (b)			27				26				25				21				100				16				22				26				28				92
Ancillary Revenues (c)			19				21				16				22				76				13				13				12				17				56
Total Lodging			170				200				213				170				753				152				186				211				176				725
Vacation Exchange and Rentals
Exchange Revenues			213				185				178				152				728				206				179				180				175				740
Rental Revenues			119				119				169				88				495				99				104				152				97				452
Ancillary Revenues (d)			9				10				7				10				36				9				5				4				8				26
Total Vacation Exchange and Rentals			341				314				354				250				1,259				314				288				336				280				1,218
Vacation Ownership
Vacation Ownership Interest Sales			294				414				446				309				1,463				373				443				467				383				1,666
Consumer Financing			99				104				111				112				426				81				88				93				96				358
Property Management Fees			85				84				89				89				346				74				78				79				78				310
Ancillary Revenues (e)			26				19				15				(18	)			43				21				20				32				19				91
Total Vacation Ownership			504				621				661				492				2,278				549				629				671				576				2,425
Total Reportable Segments		$	1,015			$	1,135			$	1,228			$	912			$	4,290			$	1,015			$	1,103			$	1,218			$	1,032			$	4,368

Table 5

Wyndham Worldwide Corporation
SCHEDULE OF DEBT
(In millions)

		December 31,				September 30,				June 30,				March 31,				December 31,
		2010				2010				2010				2010				2009
Securitized vacation ownership debt (a)
Term notes		$	1,498			$	1,400			$	1,255			$	1,258			$	1,112
Bank conduit facility (b)			152				215				291				240				395
Securitized vacation ownership debt (c)			1,650				1,615				1,546				1,498				1,507
Less: Current portion of securitized vacation ownership debt			223				187				248				220				209
Long-term securitized vacation ownership debt		$	1,427			$	1,428			$	1,298			$	1,278			$	1,298
Debt:
6.00% senior unsecured notes (due December 2016) (d)		$	798			$	798			$	798			$	798			$	797
Term loan (e)			—				—				—				—				300
Revolving credit facility (due October 2013) (f)			154				26				—				199				—
9.875% senior unsecured notes (due May 2014) (g)			241				240				239				239				238
3.50% convertible notes (due May 2012) (h)			266				289				362				448				367
7.375% senior unsecured notes (due March 2020) (i)			247				247				247				247				—
5.75% senior unsecured notes (due February 2018) (j)			247				247				—				—				—
Vacation ownership bank borrowings (k)			—				—				—				—				153
Vacation rentals capital leases			115				120				110				123				133
Other			26				34				36				28				27
Total debt			2,094				2,001				1,792				2,082				2,015
Less: Current portion of debt			11				32				29				23				175
Long-term debt		$	2,083			$	1,969			$	1,763			$	2,059			$	1,840

		December 31, 2010				September 30, 2010				June 30, 2010				March 31, 2010				December 31, 2009
Debt principal		$	116			$	138			$	230			$	230			$	230
Unamortized discount			(12	)			(17	)			(31	)			(35	)			(39	)
Debt less discount			104				121				199				195				191
Fair value of conversion feature (*)			162				168				163				253				176
Convertible notes		$	266			$	289			$	362			$	448			$	367

(*)		The Company also has an asset with a fair value equal to the conversion feature, which represents cash-settled call options that the Company purchased concurrent with the issuance of the convertible notes.

(i)		Represents senior unsecured notes issued by the Company during February 2010. The balance as of December 31, 2010 represents $250 million aggregate principal less $3 million of unamortized discount.
(j)		Represents senior unsecured notes issued by the Company during September 2010. The balance as of December 31, 2010 represents $250 million aggregate principal less $3 million of unamortized discount.
(k)		Represents a 364-day, AUD 213 million, secured, revolving foreign credit facility, which was paid down and terminated during March 2010.

Table 6
(1 of 2)

Wyndham Worldwide Corporation
HOTEL BRAND SYSTEMS DETAILS

		As of and For the Three Months Ended December 31, 2010
																		Average Revenue
										Average				Average Daily				Per Available
Brand		Number of Properties				Number of Rooms				Occupancy Rate				Rate (ADR)				Room (RevPAR)
Wyndham Hotels and Resorts			101				28,311				52.0	%		$	108.89			$	56.62
Tryp by Wyndham			94				13,692				62.0	%		$	101.09			$	62.64
Wingate by Wyndham			165				15,066				54.0	%		$	77.24			$	41.73
Hawthorn Suites by Wyndham			76				7,100				53.3	%		$	71.94			$	38.34
Ramada			896				119,042				48.8	%		$	75.61			$	36.93
Baymont			261				21,933				41.9	%		$	59.18			$	24.78
Days Inn			1,877				149,980				41.4	%		$	58.09			$	24.05
Super 8			2,174				136,267				46.1	%		$	52.53			$	24.21
Howard Johnson			474				46,362				42.5	%		$	57.45			$	24.42
Travelodge			436				31,908				40.8	%		$	60.54			$	24.72
Microtel Inns & Suites			316				22,539				45.9	%		$	56.57			$	25.97
Knights Inn			336				20,335				35.0	%		$	40.98			$	14.35
Other (*)			1				200				N/A				N/A				N/A
Total			7,207				612,735				45.3	%		$	64.44			$	29.18