Register
It is currently Wed 12 Aug 2020 4:59 am

2018 PROXY OFFER BY WYNDHAM COMES TO OWNERS PHONE (FB)

View active topics

All times are UTC - 8 hours


Post new topic Reply to topic  [ 19 posts ]  Go to page 1, 2  Next
Author Message
 PostPosted: Wed 11 Jul 2018 8:37 am   

Joined: Sun 07 Mar 2004 3:53 pm
Posts: 12973
Location: next to the outhouse
Attachment:
IMG_2042.JPG
IMG_2042.JPG [ 150.52 KiB | Viewed 849 times ]

_________________
Pass on small kindnesses every day.. you'll be surpised how good it will make you feel!


Top
 Profile  
 PostPosted: Wed 11 Jul 2018 9:06 am   
User avatar

Joined: Fri 16 Apr 2004 6:54 pm
Posts: 4813
Location: Yakima, Washington
Here we go again.

_________________
Gary
Assign your proxy to WM Owners, Inc. Do NOT assign your proxy to WorldMark's BOD.
WM Owner since 2003.


Top
 Profile  
 PostPosted: Wed 11 Jul 2018 11:44 am   

Joined: Sat 23 Jun 2018 8:43 pm
Posts: 20
TahoeGary wrote:
Here we go again.


How do I assign my proxy to WM Owners?


Top
 Profile  
 PostPosted: Wed 11 Jul 2018 7:20 pm   
User avatar

Joined: Fri 19 Aug 2005 9:02 am
Posts: 4875
Location: Henderson, NV
Interesting that they are giving away WYN rewards instead of WM points? As a WM owner I have less interest in WYN points. You would also think they have plenty of WM credits to use...? :-k

_________________
WM=Kihei, Seaside, Gleneden, Mariner Village, Orlando, Ocean Walk, Lake Chelan, St George, Las Vegas, Birch Bay, Indio, Camlin, Leavenworth, Yellowstone, Arrow Point, Kapaa, Eagle Crest, Midway, McCall, Coral Baja, Cascade Lodge, Canadian, Elysian, Oceanside, Mission Valley, Balboa Park, Kona, Windsor, L.V. Spencer St, 7th Mtn, Reno, Havasu Dunes: other=Bay Club, Summit Watch, Grand Oasis, Marriott Kauai, Camelback resort, Paradise Beach Villas, Bavarro Princess, Club Cala de Palmas, Pend Oreille Shores, Copamarina Beach Resort, Whistler Town Plaza, Kona Coast, Wavecrest at Del Mar, Grand Mayan N.V., WYN Mauna Loa, Kings Land, Park Royal Ixtapa


Top
 Profile  
 PostPosted: Wed 11 Jul 2018 9:19 pm   

Joined: Sun 07 Mar 2004 3:53 pm
Posts: 12973
Location: next to the outhouse
Jane917 wrote:
TahoeGary wrote:
Here we go again.


How do I assign my proxy to WM Owners?


Jane.... there will be lots of info coming on this site as soon as the independents running have been chosen. Stay tuned in.

There is also a history on other threads.... sometimes, Wyndham have changed procedures, thus waiting a while is the best.

A.

_________________
Pass on small kindnesses every day.. you'll be surpised how good it will make you feel!


Top
 Profile  
 PostPosted: Thu 12 Jul 2018 6:16 am   

Joined: Tue 26 Sep 2017 8:00 pm
Posts: 523
DenMar wrote:
Interesting that they are giving away WYN rewards instead of WM points? As a WM owner I have less interest in WYN points. You would also think they have plenty of WM credits to use...? :-k


Summer madness is going on, I imagine that ties up a fair bit of the FAX pool.

It's to drive Wyndham Rewards activity, as with other changes over the past ~18 months (Marketing gifts changing from primarily Amex cards to Wyndham Rewards, etc)

In previous years the incentive has been a cruise, something I have little interest in. But I do travel a decent amount, often for shorter periods when WorldMark doesn't make sense fiscally, not available on short notice or there are no resorts in the area.

With Wyndham Rewards I understand the brands positioning in the market and thus know what to expect.
I get a sizable discount, and earn points to redeem in the future.


Top
 Profile  
 PostPosted: Thu 12 Jul 2018 10:20 am   

Joined: Tue 06 May 2014 2:12 pm
Posts: 2156
Location: Salem, Oregon
Now if they offered 375,000 WM Points that were good for 10 years. That would be tempting. Or 40,000 WM Points with 4 Housekeeping Tokens.

_________________
Tom and Patti
Joined Worldmark August 2002
Las Vegas-Boulevard, Victoria, Seaside, Windsor, Clear Lake, Running Y, Coral Baja, Kona, Kihei, Tropicana, Oceanside, Sydney, Daytona Beach, Coffs Harbour, Gleneden, Canadian, Fiji, Rotorua, Kapa'a Shore, Mission Valley, Camlin, Arrow Point, West Yellowstone, New Orleans, Park City, St. George, Seven Mile Beach, Long Beach, Reno, Discovery Bay. Spencer Street, Leavenworth, Melbourne.
Residence Club - Seaside. Royal Solaris. DRI. Formerly RVC.
II - Newport Coast.
RCI - Fitzpatrick Family Castle, Bali Hai, Dyserth Falls Resort, Haven Court, DVC Old Key West, DVC Saratoga, Sea Mist Resort Cape Cod, Point at Poipu, Kilconquhar Estate and Country Club Fife, Club Paihia, Grand Mayan Cabo, Ka'Eo Kai.
RVC - Cabo, Cancun.
DRI - Le Manoir Des Deux Amants France, Royal Regency France, Paniolo Greens, Sea Mountain, Point at Poipu, KBC, Hono Koa, Orleans at 519 Frenchmen Street, Cabo Azul, Modern Honolulu.
Newly planned and Reserved:


Top
 Profile  
 PostPosted: Thu 12 Jul 2018 10:53 am   

Joined: Thu 03 Apr 2008 3:51 pm
Posts: 407
I bet it is because of the spinoff. The timeshare side is paying a big licence fee to the hotel side every year, and I bet they get a certain number of points for that. Since they have to pay for them anyway, they want to use them for sales/voting bribes.


Top
 Profile  
 PostPosted: Thu 12 Jul 2018 11:31 pm   
User avatar

Joined: Sat 20 Nov 2010 6:34 am
Posts: 1479
Location: Carson City, NV
bizaro86 wrote:
I bet it is because of the spinoff. The timeshare side is paying a big licence fee to the hotel side every year, and I bet they get a certain number of points for that. Since they have to pay for them anyway, they want to use them for sales/voting bribes.

Man, this is thigh-deep BS.

Show us where, "The timeshare side is paying a big licence fee to the hotel side every year"

_________________
-2Shy


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 7:53 am   

Joined: Thu 03 Apr 2008 3:51 pm
Posts: 407
1nceBurned2wiceShy wrote:
bizaro86 wrote:
I bet it is because of the spinoff. The timeshare side is paying a big licence fee to the hotel side every year, and I bet they get a certain number of points for that. Since they have to pay for them anyway, they want to use them for sales/voting bribes.

Man, this is thigh-deep BS.

Show us where, "The timeshare side is paying a big licence fee to the hotel side every year"


Seriously? Rude much? Since you asked, I can prove it, as the documents relating to the spin-off are publicly filed with the SEC.

From: https://www.sec.gov/Archives/edgar/data ... 0_4_101851
Quote:
ARTICLE XI
ROYALTY; PAYMENTS

Section 11.1 Royalty. In exchange for the licenses and rights granted hereunder, subject to adjustment in accordance with Section 11.2, RemainCo (or its designated Affiliate) shall pay to

22 SpinCo (or its designated Affiliate) a royalty, payable in accordance Section 11.5, in an amount equal to the sum of:

(a) 4.06% of Gross Non-Affinity VOI Sales; plus

(b) the Affinity Royalty, if any; plus

(c) one percent (1%) of Net VR Revenue.

Section 11.2 Royalty Adjustment. In the event the Marketing Services Agreement terminates pursuant to Section 8.03(c) thereof (and, for clarity, no other reason), as of the effectiveness of such termination, the royalty payable on all Gross Affinity VOI Sales and all Gross Non-Affinity VOI Sales shall be reduced to 3.5%.

Section 11.3 Minimum Annual Royalty. RemainCo acknowledges and agrees that, for the duration of the Initial Term, in no event shall the total annual Royalty payable to SpinCo (or its designated Affiliate) hereunder be less than the Minimum Annual Royalty. If, at the end of any given calendar year, RemainCo has not paid Royalties equal to or greater than the Minimum Annual Royalty, RemainCo (or its designated Affiliate) shall pay SpinCo (or its designated Affiliate) the difference between the Minimum Annual Royalty and the amounts actually paid by RemainCo (or its designated Affiliate) for such calendar year (or portion thereof) (the “Minimum Annual Royalty Shortfall”), in accordance with Section 11.5.




From the definitions section of the linked document

Quote:
(57) “Minimum Annual Royalty” shall mean sixty-five million U.S. dollars ($65,000,000), such amount to be adjusted up or down by January 30 of each calendar year by a percentage that is the sum of CPI and one-half of U.S. GDP Growth Rate Per Year, as reported by the United States Bureau of Economic Analysis of the Department of Commerce; provided, that (i) for the partial calendar year commencing on the Effective Date and ending on December 31, 2018, the Minimum Annual Royalty shall mean thirty seven million nine hundred sixteen thousand U.S. dollars ($37,916,000) and (ii) for any partial calendar year resulting from the termination of this Agreement or expiration of the Initial Term, the Minimum Annual Royalty shall be pro-rated based on the number of days prior to the date of such termination or expiration; and provided, further, that the Minimum Annual Royalty shall at no time exceed sixty-five million U.S. dollars ($65,000,000).


Unless you think $65,000,000 per year isn't a big license payment, I think that should be satisfactory proof. (Unless of course you think they filed a contract they don't intend to enforce with the SEC)


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 12:50 pm   

Joined: Tue 06 May 2014 2:12 pm
Posts: 2156
Location: Salem, Oregon
I am simple minded. Which is Remainco and which is Spinco? Is Wyndham Destinations (timeshare co) paying Wyndham Hotels or the opposite?

_________________
Tom and Patti
Joined Worldmark August 2002
Las Vegas-Boulevard, Victoria, Seaside, Windsor, Clear Lake, Running Y, Coral Baja, Kona, Kihei, Tropicana, Oceanside, Sydney, Daytona Beach, Coffs Harbour, Gleneden, Canadian, Fiji, Rotorua, Kapa'a Shore, Mission Valley, Camlin, Arrow Point, West Yellowstone, New Orleans, Park City, St. George, Seven Mile Beach, Long Beach, Reno, Discovery Bay. Spencer Street, Leavenworth, Melbourne.
Residence Club - Seaside. Royal Solaris. DRI. Formerly RVC.
II - Newport Coast.
RCI - Fitzpatrick Family Castle, Bali Hai, Dyserth Falls Resort, Haven Court, DVC Old Key West, DVC Saratoga, Sea Mist Resort Cape Cod, Point at Poipu, Kilconquhar Estate and Country Club Fife, Club Paihia, Grand Mayan Cabo, Ka'Eo Kai.
RVC - Cabo, Cancun.
DRI - Le Manoir Des Deux Amants France, Royal Regency France, Paniolo Greens, Sea Mountain, Point at Poipu, KBC, Hono Koa, Orleans at 519 Frenchmen Street, Cabo Azul, Modern Honolulu.
Newly planned and Reserved:


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 4:10 pm   

Joined: Thu 03 Apr 2008 3:51 pm
Posts: 407
Sorry, I only cut and pasted a bit, as the document is very long. RemainCo is destinations (the timeshare business). They are paying a royalty to the hotels business, which was spun out.

The spin was financial engineering to make a capital light business (hotel company). By adding $65 MM of royalty payments, the hotel side has more income and the timeshare side less. Because the hotel side will trade at a higher multiple, that should theoreticalally make shareholders richer.


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 6:28 pm   

Joined: Tue 06 May 2014 2:12 pm
Posts: 2156
Location: Salem, Oregon
So I assume that Wyndham Destinations assumes they will have multiples of $65 Million in income if they can afford to pay the Hotel Group $65 Million per year.

Also with the spin off into Wyndham Destinations how does that relate to our Management Contract with Wyndham as the Company we signed a Management Contract no longer technically exists?

_________________
Tom and Patti
Joined Worldmark August 2002
Las Vegas-Boulevard, Victoria, Seaside, Windsor, Clear Lake, Running Y, Coral Baja, Kona, Kihei, Tropicana, Oceanside, Sydney, Daytona Beach, Coffs Harbour, Gleneden, Canadian, Fiji, Rotorua, Kapa'a Shore, Mission Valley, Camlin, Arrow Point, West Yellowstone, New Orleans, Park City, St. George, Seven Mile Beach, Long Beach, Reno, Discovery Bay. Spencer Street, Leavenworth, Melbourne.
Residence Club - Seaside. Royal Solaris. DRI. Formerly RVC.
II - Newport Coast.
RCI - Fitzpatrick Family Castle, Bali Hai, Dyserth Falls Resort, Haven Court, DVC Old Key West, DVC Saratoga, Sea Mist Resort Cape Cod, Point at Poipu, Kilconquhar Estate and Country Club Fife, Club Paihia, Grand Mayan Cabo, Ka'Eo Kai.
RVC - Cabo, Cancun.
DRI - Le Manoir Des Deux Amants France, Royal Regency France, Paniolo Greens, Sea Mountain, Point at Poipu, KBC, Hono Koa, Orleans at 519 Frenchmen Street, Cabo Azul, Modern Honolulu.
Newly planned and Reserved:


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 7:27 pm   

Joined: Thu 03 Apr 2008 3:51 pm
Posts: 407
geist1223 wrote:
So I assume that Wyndham Destinations assumes they will have multiples of $65 Million in income if they can afford to pay the Hotel Group $65 Million per year.

Also with the spin off into Wyndham Destinations how does that relate to our Management Contract with Wyndham as the Company we signed a Management Contract no longer technically exists?


Nothing changed. Wyndham Worldwide still exists, it just has a new name, Wyndham Destinations, and longer owns some of its other assets.


Top
 Profile  
 PostPosted: Fri 13 Jul 2018 7:41 pm   

Joined: Tue 26 Sep 2017 8:00 pm
Posts: 523
bizaro86 wrote:
geist1223 wrote:
So I assume that Wyndham Destinations assumes they will have multiples of $65 Million in income if they can afford to pay the Hotel Group $65 Million per year.

Also with the spin off into Wyndham Destinations how does that relate to our Management Contract with Wyndham as the Company we signed a Management Contract no longer technically exists?


Nothing changed. Wyndham Worldwide still exists, it just has a new name, Wyndham Destinations, and longer owns some of its other assets.

https://www.worldmarktheclub.com/board/ ... eement.pdf

Wyndham Resort Development Corporation is the entity that has the relationship with WorldMark, The Club; both as Manager and Developer.
It happens to be a subsidiary of Wyndham Vacation Ownership, Inc; which was a subsidiary of Wyndham Worldwide.
Wyndham Worldwide has been renamed Wyndham Destinations as of the spin-off date.


Top
 Profile  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 19 posts ]  Go to page 1, 2  Next

All times are UTC - 8 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  


Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Style originally created by Volize © 2003 • Redesigned SkyLine by MartectX © 2008 - 2010