8-K

WYNDHAM WORLDWIDE CORPORATION

Date: December 21, 2006

/s/ Virginia M. Wilson

Virginia M. Wilson

Chief Financial Officer

0000950123-06-015454.txt : 20061221 0000950123-06-015454.hdr.sgml : 20061221 20061221115654 ACCESSION NUMBER: 0000950123-06-015454 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061221 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061221 DATE AS OF CHANGE: 20061221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WYNDHAM WORLDWIDE CORP CENTRAL INDEX KEY: 0001361658 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 200052541 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32876 FILM NUMBER: 061292114 BUSINESS ADDRESS: STREET 1: 7 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-428-9700 MAIL ADDRESS: STREET 1: 7 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 8-K 1 y28175e8vk.htm FORM 8-K 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) December 21, 2006

Wyndham Worldwide Corporation

(Exact name of Registrant as specified in its charter)


Delaware (State or other jurisdiction of incorporation)	1-32876 (Commission File No.)	20-0052541 (I.R.S. Employer Identification Number)

Seven Sylvan Way Parsippany, NJ (Address of principal executive office)		07054 (Zip Code)

Registrant’s telephone number, including area code: (973) 753-6000

None

(Former name or former address if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01. Other Events.

Wyndham Worldwide Corporation is updating its quarterly operating statistics (also known as quarterly drivers) as of September 30, 2006. The primary change is to replace selected operating statistics included in its filing as of September 30, 2006 in the Company’s press release issued on November 1, 2006 with different operating statistics for the same retrospective periods; specifically the Company will now present its Average Price Per Vacation Rental on a net rather than a gross basis. Accordingly, Average Net Price Per Vacation Rental is now presented net of rental fees paid to rental property owners.

The operating statistics, as of September 30, 2006, are furnished as Exhibit 99.1 to this Form 8-K and incorporated by reference.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is furnished with this report:

Exhibit 99.1 – Wyndham Worldwide Corporation Operating Statistics, as of September 30, 2006.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WYNDHAM WORLDWIDE CORPORATION
CURRENT REPORT ON FORM 8-K
Report Dated December 21, 2006
EXHIBIT INDEX


Exhibit No.		Description
Exhibit 99.1		Wyndham Worldwide Corporation Operating Statistics, as of September 30, 2006.

EX-99.1 2 y28175exv99w1.htm EX-99.1: WYNDHAM WORLDWIDE CORPORATION OPERATING STATISTICS EX-99.1

Exhibit 99.1

Page 1 of 2

Wyndham Worldwide Corporation
OPERATING STATISTICS


	Year		Q1		Q2			Q3		Q4		Full Year
Lodging⁽¹⁾
Weighted Average Rooms Available		2006		520,600		531,000			529,200		N/A		N/A
		2005		517,400		512,000			511,500		535,100		519,000
		2004		512,000		510,700			507,300		503,000		508,200
		2003		532,900		525,600			522,400		518,200		524,700

Number of Properties		2006		6,300		6,440			6,420		N/A		N/A
		2005		6,400		6,380			6,350		6,350		N/A
		2004		6,380		6,390			6,350		6,400		N/A
		2003		6,500		6,480			6,430		6,400		N/A

RevPAR		2006	$	30.45	$	36.97		$	40.82		N/A		N/A
		2005	$	25.53	$	31.91		$	36.86	$	29.72	$	31.00
		2004	$	22.50	$	29.08		$	34.04	$	24.53	$	27.55
		2003	$	22.05	$	27.50		$	31.38	$	22.71	$	25.92

Vacation Exchange and Rental
Average Number of Members (in 000s)		2006		3,292		3,327			3,374		N/A		N/A
		2005		3,148		3,185			3,233		3,271		3,209
		2004		2,995		3,031			3,074		3,116		3,054
		2003		2,929		2,925			2,954		2,982		2,948

Annual Dues and Exchange Revenue Per Member		2006	$	152.10	$	130.37		$	132.31		N/A		N/A
		2005	$	159.12	$	134.98		$	125.64	$	124.05	$	135.76
		2004	$	159.55	$	132.51		$	123.55	$	124.43	$	134.82
		2003	$	145.99	$	129.37		$	128.99	$	120.37	$	131.13

Vacation Rental Transactions (in 000s)		2006		385		310			356		N/A		N/A
		2005		367		311	⁽²⁾		344		278		1,300
		2004		309		246			295		253		1,104
		2003		290		192			206		194		882

Average Net Price Per Vacation Rental		2006	$	312.51	$	374.91		$	442.75		N/A		N/A
		2005	$	331.37	$	363.14		$	412.66	$	325.62	$	359.27
		2004	$	279.46	$	333.76		$	368.79	$	337.42	$	328.77
		2003	$	233.49	$	255.62		$	247.46	$	265.72	$	248.65

Vacation Ownership
Gross Vacation Ownership Interest Sales (in 000s)		2006	$	357,000	$	434,000	⁽³⁾	$	482,000		N/A		N/A
		2005	$	281,000	$	354,000	⁽³⁾	$	401,000	$	360,000	$	1,396,000
		2004	$	274,000	$	315,000		$	361,000	$	304,000	$	1,254,000
		2003	$	224,000	$	302,000		$	330,000	$	290,000	$	1,146,000

Tours		2006		208,000		273,000			312,000		N/A		N/A
		2005		195,000		250,000			272,000		217,000		934,000
		2004		181,000		227,000			246,000		205,000		859,000
		2003		196,000		253,000			275,000		200,000		925,000

Volume per Guest (VPG)		2006	$	1,475	$	1,426		$	1,434		N/A		N/A
		2005	$	1,349	$	1,284		$	1,349	$	1,507	$	1,368
		2004	$	1,303	$	1,253		$	1,273	$	1,327	$	1,287
		2003	$	1,067	$	1,082		$	1,127	$	1,293	$	1,138


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

⁽¹⁾		Quarterly drivers in the Lodging segment include results of Ramada International, Wyndham Hotels and Resorts and Baymont Inn & Suites, which we acquired in December 2004, October 2005 and April 2006, respectively. Therefore, the operating statistics are not presented on a comparable basis.

⁽²⁾		Vacation Rental Transactions for second quarter 2005 were previously reported as 309,000 transactions in our Form 10-Q filed on August 18, 2006.

⁽³⁾		Gross Vacation Ownership Interest Sales for second quarter 2005 and second quarter 2006 were previously reported as $321 million and $390 million, respectively, in our Form 10-Q filed on August 18, 2006. These values excluded tele-sales upgrades.

Page 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 for the period at lodging properties.

RevPAR: Represents revenue per available room and is calculated by multiplying the percentage of available rooms occupied for the period by the average rate charged for renting a lodging room for one day.

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

Vacation Exchange and Rental

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 rental 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 is 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 is a component of upgrade sales, by the number of tours.