WHO’S WHO

Our vacation ownership program is comprised of three parts:
  • The Developer
  • WorldMark, The Club
  • The Manager 
The Developer builds or purchases the resorts and hands them over to WorldMark, The Club debt-free. In exchange, the Developer has the exclusive right to market and sell Vacation Credits (Memberships) that are generated by the new resort units.  The Developer determines how many Vacation Credits are generated by each new unit by assigning Credit Values (how many credits required to occupy each unit) and Season Calendars (how many red, white, and blue weeks per year for the resort). In effect the Club"buys" the new resorts from The Developer by giving The Developer those Credits to sell.

WorldMark, The Club owns the resorts/units in which we as individual owners occupy. We have partial occupancy rights to all WorldMark properties depending on the number of vaction credits owned.  

WorldMark, The Club has no employees and no way to manage the units directly.  Therefore, the Club hires (contracts with) a management company to handle the physical day-to-day management of the properties as well as the operations of the Club (reservation system, financial records, annual election, etc).

In April 2002, Trendwest was acquired by Cendant Corporation (“Cendant”), and became a wholly-owned subsidiary of Cendant Timeshare Resort Group, Inc. Cendant was a large conglomerate that owned not only timeshare developers (former Fairfield and Trendwest, among others), but also real estate firms (Century 21, Coldwell Banker, ERA); hotels (Super 8, Days Inn, Ramada, Wyndham Hotels and Resorts, Baymont Inn & Suites, Wingate by Wyndham, Travelodge, Howard Johnson, AmeriHost Inn, Knights Inn); and travel and car rental companies (RCI, Orbitz, Galileo, Avis, Budget, and more).

Wyndham Chart2

Trendwest was created in March 1989 by Jeld-Wen Inc., a privately held window and door manufacturing company based in Klamath Falls, Oregon. WorldMark, The Club was incorporated July 18, 1989 [originally "Club Esprit"; renamed as "WorldMark, The Club" by Certificate of Restated Articles of Incorporation of Club Esprit, Dec. 11, 1992]. Trendwest began selling WorldMark vacation credits in October 1989. WorldMark was created hand-in-hand with Trendwest Resorts. Trendwest was the Developer and the Manager, and WorldMark was the owner. They were created together to support one another. As the WorldMark's Board of Directors has frequently stated, the two were inter-dependent; neither could survive without the other. And that was fine; it really was a case of "what is good for one is good for the other".

In May 2006, Cendant Timeshare Resort Group, Inc. was renamed Wyndham Vacation Ownership, Inc. In August 2006, Cendant split into four separate companies -- Realogy for the real estate firms, Wyndham Worldwide Corp. (which included Trendwest as a part of Wyndham Vacation Ownership, Inc.) for the timeshare and hotel companies, Travelport for the travel distribution companies, and Avis-Budget Group for the car rentals. The official line is that Cendant had become too big to be managed profitably. Scuttlebutt is that it may have had more to do with getting rid of the Cendant name and reputation after convictions on fraudulent accounting practices ( See CNN: Cendant settles for 2.93 BILLION and USA Today: Cendant ex-chairman found guilty).

In August 1997, Trendwest became a publicly traded company. At the time, Jeld-Wen retained 51% of the stock.