EXHIBIT 99.1

Wyndham Worldwide Reports Strong First Quarter 2011 Earnings
Results Exceed Expectations
Announces $500 Million Increase in Share Repurchase Program
Increases EPS Guidance

PARSIPPANY, N.J. (April 27, 2011) — Wyndham Worldwide Corporation (NYSE:WYN) today announced results for the three months ended March 31, 2011.

Highlights:

•		First quarter 2011 adjusted diluted earnings per share (EPS) was $0.44, compared with $0.34 in the first quarter of 2010, an increase of 29%. First quarter 2011 reported diluted EPS was $0.41, an increase of 52%, compared with the same period in 2010.
•		Free cash flow increased 11% to $185 million for the quarter ended March 31, 2011, compared with $166 million during the same period in 2010. The Company defines free cash flow as net cash provided by operating activities less capital expenditures, equity investments and development advances.
•		Year-to-date, the Company repurchased approximately 8.2 million shares of its common stock at an average price of $31.01 for approximately $255 million.
•		The Company announced today that its Board of Directors approved a $500 million increase to the share repurchase authorization.
•		The Company is increasing its full-year adjusted EPS guidance from a range of $2.05 — $2.15 to a range of $2.15 — $2.25 based on a diluted share count of 173 million.

     “We are pleased to report that 2011 started as 2010 ended, with strong operating performance and accelerating earnings per share growth,” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide. “We delivered strong operating performance across all our businesses and are confident in the sustainability of our growth and cash flow. Our confidence in growth and cash flow generation is reflected in our substantial share repurchase activity so far this year, the significant increase in our share repurchase program as well as the previously announced 25% increase in our dividend for 2011.”

FIRST QUARTER 2011 OPERATING RESULTS

First quarter revenues increased 7.4% from the prior year period to $952 million. The revenue growth reflects continued sales momentum across the Company’s three business units and incremental contributions from acquisitions.

For the first quarter of 2011, adjusted net income increased by 23% to $79 million, or $0.44 per diluted share compared with $64 million, or $0.34 per diluted share for the same period in 2010. The increase reflects strong operational performance by the Company’s three business units. Adjusted net income for the first quarter of 2011 excludes a $7 million after-tax charge related to the repurchase of a portion of the Company’s convertible notes and an $8 million after-tax non-cash impairment charge related to a write-down of an international joint venture in the Company’s hotel business. These were partially offset by an $8 million after-tax benefit related to the resolution of certain contingent liabilities and assets.

First quarter 2011 reported net income grew 44% to $72 million, or $0.41 per diluted share, compared with net income of $50 million, or $0.27 per diluted share, for the first quarter of 2010.

Free cash flow increased 11% to $185 million for the quarter ended March 31, 2011, compared with $166 million during the same period in 2010. The growth in free cash flow reflects higher cash earnings and more efficient working capital utilization. For the quarter ended March 31, 2011, cash provided by operating activities was $229 million, compared with $205 million in the prior year period.

BUSINESS UNIT RESULTS

Lodging (Wyndham Hotel Group)

Revenues were $149 million in the first quarter of 2011, an increase of 3%, compared with the first quarter of 2010, reflecting a RevPAR increase of 7.4%, or 6.4% in constant currency, and incremental revenues related to the TRYP hotel brand.

First quarter 2011 adjusted EBITDA was $40 million, an increase of 21%, compared with the first quarter of 2010, primarily as a result of the RevPAR improvement and lower costs. Adjusted EBITDA excludes a $13 million impairment charge related to the write-down of an investment in an international joint venture in the Company’s hotel business.

As of March 31, 2011, the Company’s hotel system consisted of approximately 7,190 properties and 609,600 rooms. The development pipeline included approximately 830 hotels and over 102,000 rooms, of which 57% were new construction and 57% were international.

Vacation Exchange and Rentals (Wyndham Exchange & Rentals)

Revenues were $356 million in the first quarter of 2011, an increase of 19% compared with the first quarter of 2010, reflecting overall strength in vacation rentals and incremental revenues from acquisitions.

Exchange revenues were $194 million, an increase of 3%, compared with the first quarter of 2010. In constant currency, exchange revenues increased 2%, reflecting a modest increase in both exchange revenue per member and the average number of members.

Vacation rental revenues were $150 million, which included $25 million of incremental revenues related to acquisitions, compared with $105 million in the first quarter of 2010. Excluding the impact of the incremental revenues from acquisitions, net revenues generated from rental transactions and related services increased 19%, reflecting strong performance in the German rental market.

Excluding $4 million of acquisition costs in the first quarter of 2010, first quarter of 2011 EBITDA increased 11% compared with adjusted EBITDA of $84 million in the prior-year period, reflecting increases in vacation rental volume and average net price per rental.

Vacation Ownership (Wyndham Vacation Ownership)

Gross Vacation Ownership Interest (VOI) sales were $319 million in the first quarter of 2011, up 4% from the first quarter of 2010, reflecting an 11% increase in tour flow, partially offset by a 6% decrease in volume per guest. The changes in tour flow and volume per guest reflect the Company’s focus on increasing sales to new owners.

Total segment revenues were $450 million in the first quarter of 2011, compared with $444 million in the first quarter of 2010, reflecting incremental commission revenues under the Wyndham Asset Affiliation Model (WAAM) and a lower provision for loan losses.

Adjusted EBITDA for the first quarter of 2011 increased 17% to $96 million, compared with EBITDA of $82 million in the first quarter of 2010. This EBITDA increase reflected growth in the property management business and the lower provision for loan losses. Results were also impacted by lower sales commission expenses and the absence of a litigation charge in the first quarter 2011 that was incurred in the first quarter 2010.

Other Items

	•		The Company repurchased approximately 5.7 million shares of its common stock during the first quarter of 2011 at an average price of $30.62 and an additional 2.5 million shares at an average price of $31.84 through April 26, 2011.
	•		During the first quarter of 2011, the Company repurchased approximately 85% of its outstanding convertible notes, principally resulting from the completion of a cash tender offer.

•

Net interest expense in the first quarter of 2011 was $42 million. Net interest includes $12 million of costs associated with the repurchase of a portion of the Company’s convertible notes, which is excluded from adjusted net income.

Balance Sheet Information as of March 31, 2011:

	•		Cash and cash equivalents of approximately $175 million, compared with approximately $155 million from December 31, 2010.
	•		Vacation ownership contract receivables, net, of $2.9 billion, compared with $3.0 billion at December 31, 2010.
	•		Vacation ownership and other inventory of approximately $1.2 billion, unchanged from December 31, 2010.
	•		Securitized vacation ownership debt of $1.8 billion, compared with $1.7 billion at December 31, 2010.
	•		Other debt of $2.0 billion, compared with $2.1 billion at December 31, 2010. The remaining borrowing capacity on the revolving credit facility was $962 million, compared with $788 million as of December 31, 2010.

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

Outlook

The Company is increasing full-year 2011 adjusted EPS guidance from $2.05 — $2.15 to $2.15 — $2.25, based on a diluted share count of 173 million.

The Company reiterates full-year 2011 guidance:

	•		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, asset impairments, 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, April 27, 2011 at 8:30 a.m. EDT. 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 EDT on April 27, 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 EDT on April 27, 2011, at (866) 509-3896.

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 services and products across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Worldwide encompasses approximately 7,360 franchised hotels and vacation ownership resorts with approximately 630,300 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 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 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 Annual Report on Form 10-K, filed with the SEC on February 22, 2011. 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 Income. 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 months ended March 31, 2011 and 2010:

		Three Months Ended March 31,
		2011								2010
		Net Revenues				EBITDA				Net Revenues				EBITDA
Lodging		$	149			$	27	(c)		$	144			$	33
Vacation Exchange and Rentals			356				93				300				80	(f)
Vacation Ownership			450				97	(d)			444				82
Total Reportable Segments			955				217				888				195
Corporate and Other (a) (b)			(3	)			(14	)			(2	)			(20	)
Total Company		$	952			$	203			$	886			$	175
Reconciliation of EBITDA to Net Income
EBITDA						$	203							$	175
Depreciation and amortization							45								44
Interest expense							44	(e)							50	(g)
Interest income							(2	)							(1	)
Income before income taxes							116								82
Provision for income taxes							44								32
Net income						$	72							$	50

The following tables summarize net revenues and Adjusted EBITDA for reportable segments for the three months ended March 31, 2011 and 2010 (for a description of adjustments by segment, see Table 7):

		Three Months Ended March 31,
		2011								2010
						Adjusted								Adjusted
		Net Revenues				EBITDA				Net Revenues				EBITDA
Lodging		$	149			$	40			$	144			$	33
Vacation Exchange and Rentals			356				93				300				84
Vacation Ownership			450				96				444				82
Total Reportable Segments			955				229				888				199
Corporate and Other			(3	)			(25	)			(2	)			(18	)
Total Company		$	952			$	204			$	886			$	181

Table 2

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

		Three Months Ended
		March 31,
		2011				2010
Net revenues
Service and membership fees		$	495			$	424
Vacation ownership interest sales			222				217
Franchise fees			101				92
Consumer financing			102				105
Other			32				48
Net revenues			952				886
Expenses
Operating			411				381	(a)
Cost of vacation ownership interests			32				36
Consumer financing interest			23				24
Marketing and reservation			137				123
General and administrative (b)			140				148
Asset impairment			13	(c)			—
Restructuring			(1	) (d)			—
Depreciation and amortization			45				44
Total expenses			800				756
Operating income			152				130
Other income, net			(6	) (e)			(1	)
Interest expense			44	(f)			50	(g)
Interest income			(2	)			(1	)
Income before income taxes			116				82
Provision for income taxes			44				32
Net income		$	72			$	50
Earnings per share
Basic		$	0.42			$	0.28
Diluted			0.41				0.27
Weighted average shares outstanding
Basic			173				179
Diluted			179				186

Table 3
(1 of 3)

Wyndham Worldwide Corporation
OPERATING STATISTICS

		Year				Q1				Q2				Q3				Q4				Full Year
Lodging (a)
Number of Rooms			2011				609,600				N/A				N/A				N/A				N/A
			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
RevPAR			2011			$	27.71				N/A				N/A				N/A				N/A
			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
Vacation Exchange and Rentals
Average Number of Members (in 000s)			2011				3,766				N/A				N/A				N/A				N/A
			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
Exchange Revenue Per Member			2011			$	205.64				N/A				N/A				N/A				N/A
			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
Vacation Rental Transactions (in 000s) (b)			2011				398				N/A				N/A				N/A				N/A
			2010				291				297				322				253				1,163
			2009				273				231				264				196				964
			2008				269				220				255				191				936
Average Net Price Per Vacation Rental (b)			2011			$	377.71				N/A				N/A				N/A				N/A
			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
Vacation Ownership
Gross Vacation Ownership Interest (VOI) Sales (in 000s) (c)			2011			$	319,000				N/A				N/A				N/A				N/A
			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
Tours (d)			2011				137,000				N/A				N/A				N/A				N/A
			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
Volume Per Guest (VPG) (d)			2011			$	2,192				N/A				N/A				N/A				N/A
			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

Table 3
(2 of 3)

Wyndham Worldwide Corporation
ADDITIONAL DATA

		Year				Q1				Q2				Q3				Q4				Full Year
Lodging (a)
Number of Properties			2011				7,190				N/A				N/A				N/A				N/A
			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
Vacation Ownership
Deferred Revenues (in 000s) (b)			2011			$	—				N/A				N/A				N/A				N/A
			2010			$	—			$	—			$	—			$	—			$	—
			2009			$	67,000			$	37,000			$	36,000			$	47,000			$	187,000
			2008			$	(82,000	)		$	(5,000	)		$	(2,000	)		$	14,000			$	(75,000	)
Provision for Loan Losses (in 000s) (c)			2011			$	79,000				N/A				N/A				N/A				N/A
			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
Sales under WAAM (in 000s) (d)			2011			$	18,000				N/A				N/A				N/A				N/A
			2010			$	5,000			$	13,000			$	20,000			$	14,000			$	51,000
WAAM Commission Revenues (in 000s)			2011			$	10,000				N/A				N/A				N/A				N/A
			2010			$	3,000			$	8,000			$	12,000			$	9,000			$	31,000

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 annualized revenues 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)

		2011																				2010
		Q1				Q2				Q3				Q4				Year				Q1				Q2				Q3				Q4				Year
Lodging
Royalties and Franchise Fees		$	58				N/A				N/A				N/A				N/A			$	52			$	69			$	82			$	62			$	265
Marketing, Reservation and Wyndham Rewards Revenues (a)			54				N/A				N/A				N/A				N/A				50				65				76				60				251
Hotel Management Reimbursable Revenues (b)			19				N/A				N/A				N/A				N/A				21				20				18				18				77
Ancillary Revenues (c)			18				N/A				N/A				N/A				N/A				21				24				27				23				95
Total Lodging			149				N/A				N/A				N/A				N/A				144				178				203				163				688
Vacation Exchange and Rentals
Exchange Revenues			194				N/A				N/A				N/A				N/A				189				161				163				153				666
Rental Revenues			150				N/A				N/A				N/A				N/A				105				115				161				114				495
Ancillary Revenues (d)			12				N/A				N/A				N/A				N/A				6				5				6				15				32
Total Vacation Exchange and Rentals			356				N/A				N/A				N/A				N/A				300				281				330				282				1,193
Vacation Ownership
Vacation Ownership Interest Sales			222				N/A				N/A				N/A				N/A				217				271				308				276				1,072
Consumer Financing			102				N/A				N/A				N/A				N/A				105				106				107				107				425
Property Management Fees			110				N/A				N/A				N/A				N/A				100				100				104				101				405
WAAM Commissions			10				N/A				N/A				N/A				N/A				3				8				12				8				31
Ancillary Revenues (e)			6				N/A				N/A				N/A				N/A				19				20				2				5				46
Total Vacation Ownership			450				N/A				N/A				N/A				N/A				444				505				533				497				1,979
Total Reportable Segments		$	955				N/A				N/A				N/A				N/A			$	888			$	964			$	1,066			$	942			$	3,860
		2009																				2008
		Q1				Q2				Q3				Q4				Year				Q1				Q2				Q3				Q4				Year
Lodging
Royalties and Franchise Fees		$	57			$	68			$	72			$	57			$	254			$	64			$	78			$	88			$	66			$	297
Marketing, Reservation and Wyndham Rewards Revenues (a)			54				66				73				53				246				60				75				84				61				280
Hotel Management Reimbursable Revenues (b)			22				23				21				19				85				27				26				25				21				100
Ancillary Revenues (c)			21				17				17				20				75				19				21				16				22				76
Total Lodging			154				174				183				149				660				170				200				213				170				753
Vacation Exchange and Rentals
Exchange Revenues			185				165				164				154				668				213				185				178				152				728
Rental Revenues			96				109				157				98				460				119				119				169				88				495
Ancillary Revenues (d)			6				6				6				6				24				9				10				7				10				36
Total Vacation Exchange and Rentals			287				280				327				258				1,152				341				314				354				250				1,259
Vacation Ownership
Vacation Ownership Interest Sales			239				242				285				287				1,053				294				414				446				309				1,463
Consumer Financing			109				109				108				109				435				99				104				111				112				426
Property Management Fees			91				94				96				95				376				85				84				89				89				346
Ancillary Revenues (e)			23				22				19				17				81				26				19				15				(18	)			43
Total Vacation Ownership			462				467				508				508				1,945				504				621				661				492				2,278
Total Reportable Segments		$	903			$	921			$	1,018			$	915			$	3,757			$	1,015			$	1,135			$	1,228			$	912			$	4,290

Table 5

Wyndham Worldwide Corporation
SCHEDULE OF DEBT
(In millions)

		March 31,				December 31,				September 30,				June 30,				March 31,
		2011				2010				2010				2010				2010
Securitized vacation ownership debt (a)
Term notes		$	1,666			$	1,498			$	1,400			$	1,255			$	1,258
Bank conduit facility (b)			148				152				215				291				240
Securitized vacation ownership debt (c)			1,814				1,650				1,615				1,546				1,498
Less: Current portion of securitized vacation ownership debt			216				223				187				248				220
Long-term securitized vacation ownership debt		$	1,598			$	1,427			$	1,428			$	1,298			$	1,278
Debt:
Revolving credit facility (due October 2013) (d)		$	5			$	154			$	26			$	—			$	199
6.00% senior unsecured notes (due December 2016) (e)			797				798				798				798				798
9.875% senior unsecured notes (due May 2014) (f)			241				241				240				239				239
3.50% convertible notes (due May 2012) (g)			41				266				289				362				448
7.375% senior unsecured notes (due March 2020) (h)			247				247				247				247				247
5.75% senior unsecured notes (due February 2018) (i)			247				247				247				—				—
5.625% senior unsecured notes (due March 2021) (j)			245				—				—				—				—
Vacation rentals capital leases			120				115				120				110				123
Other			28				26				34				36				28
Total debt			1,971				2,094				2,001				1,792				2,082
Less: Current portion of debt			12				11				32				29				23
Long-term debt		$	1,959			$	2,083			$	1,969			$	1,763			$	2,059

		March 31, 2011				December 31, 2010				September 30, 2010				June 30, 2010				March 31,    2010
Debt principal		$	17			$	116			$	138			$	230			$	230
Unamortized discount			(1	)			(12	)			(17	)			(31	)			(35	)
Debt less discount			16				104				121				199				195
Fair value of conversion feature (*)			25				162				168				163				253
Convertible notes		$	41			$	266			$	289			$	362			$	448

Table 6

Wyndham Worldwide Corporation
BRAND SYSTEM DETAILS

		As of and For the Three Months Ended March 31, 2011
																		Average Revenue
Brand		Number of Properties				Number of Rooms				Average Occupancy Rate				Average Daily Rate (ADR)				Per Available Room (RevPAR)
Lodging
Wyndham Hotels and Resorts			94				25,521				53.3	%		$	106.57			$	56.84
Tryp by Wyndham			92				13,420				48.3	%		$	111.27			$	53.75
Wingate by Wyndham			165				15,134				55.8	%		$	78.31			$	43.68
Hawthorn Suites by Wyndham			75				7,028				57.6	%		$	74.22			$	42.73
Ramada			888				117,278				45.4	%		$	73.37			$	33.30
Baymont			261				21,886				41.2	%		$	59.02			$	24.33
Days Inn			1,877				150,214				40.5	%		$	58.19			$	23.58
Super 8			2,185				137,260				43.9	%		$	51.41			$	22.56
Howard Johnson			464				46,080				41.1	%		$	57.28			$	23.56
Travelodge			434				31,920				40.8	%		$	59.70			$	24.34
Microtel Inns & Suites			316				22,528				46.3	%		$	55.03			$	25.46
Knights Inn			339				20,679				33.7	%		$	40.75			$	13.74
Dream			3				566				73.1	%		$	177.95			$	130.02
Night			1				72				93.8	%		$	298.78			$	280.20
Total Lodging			7,194				609,586				43.5	%		$	63.66			$	27.71
Vacation Ownership
Wyndham Vacation Ownership resorts			162				20,736				N/A				N/A				N/A
Total Wyndham Worldwide			7,356				630,322
		As of and For the Three Months Ended March 31, 2010
																		Average Revenue
Brand		Number of Properties				Number of Rooms				Average Occupancy Rate				Average Daily Rate (ADR)				Per Available Room (RevPAR)
Lodging
Wyndham Hotels and Resorts			94				25,140				51.2	%		$	112.88			$	57.74
Wingate by Wyndham			164				15,020				51.8	%		$	77.42			$	40.09
Hawthorn Suites by Wyndham			87				8,106				49.2	%		$	76.99			$	37.89
Ramada			899				117,555				43.2	%		$	72.76			$	31.42
Baymont			242				20,529				41.3	%		$	57.68			$	23.83
Days Inn			1,860				149,770				38.7	%		$	57.80			$	22.36
Super 8			2,134				132,910				41.1	%		$	52.93			$	21.76
Howard Johnson			489				46,588				38.8	%		$	57.69			$	22.37
Travelodge			452				33,604				38.1	%		$	61.40			$	23.39
Microtel Inns & Suites			317				22,550				43.5	%		$	54.99			$	23.94
Knights Inn			347				21,155				33.1	%		$	38.94			$	12.89
Other			2				404				N/A				N/A				N/A
Total Lodging			7,087				593,331				41.1	%		$	62.78			$	25.81
Vacation Ownership
Wyndham Vacation Ownership resorts			159				20,559				N/A				N/A				N/A
Total Wyndham Worldwide			7,246				613,890