Cendant Selects Alain Grange to Lead International Timeshare Expansion Efforts.Business and Travel Reporters NOTE TO MEDIA: Multimedia assets available PARSIPPANY, N.J.--(BUSINESS WIRE)--Aug. 13, 2002 Cendant Corporation announced today that Alain Grange has been named President and Managing Director, Cendant International Timeshare A form of shared property ownership, commonly in vacation or recreation condominium property, in which rights vest in several owners to use property for a specified period each year. Resort Group. In this newly-created position, Grange will lead Cendant's efforts to expand its timeshare resort development portfolio beyond the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Developers within the Cendant Timeshare Resort Group currently market vacation ownership interests at resorts outside the United States on a limited basis, with Fairfield Resorts Fairfield Resorts is the largest timeshare company and has the largest number of owners in the world. It a subsidiary of Wyndham Worldwide, based in Orlando, Florida. The company's name comes from its first resort, Fairfield Bay Resort in Fairfield Bay, Arkansas. In Oct. having a presence in the Caribbean and Trendwest Resorts operating in the South Pacific, Mexico and Canada, but the majority of Cendant's resorts and operations are within the U.S. "Our goal is to leverage our core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Prior to his new position Alain has served as president and chief executive officer of RCI RCI Royal Caribbean International RCI Radio Canada International RCI Rehabilitation Council of India RCI Residential Communities Initiative RCI Roof Consultants Institute RCI Remote Control Interface RCI Residential, Commercial, Industrial Latin America/Caribbean, where he oversaw all operations in the region on behalf of Cendant's timeshare exchange unit. Before joining Cendant, Grange spent nine years with Starwood Vacation Ownership, Inc. (SVOI), of Orlando, Fla., as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SVOI International, where he led in the planning and creation of Starwood's international resort development portfolio as well as all international sales and marketing activities. "We see opportunities for timeshare in a number of regions where Cendant's existing timeshare developers have not yet established a strong presence," said Grange. "Our expansion efforts may include many different types of initiatives, including acquisitions, strategic partnerships and joint ventures, with proprietary branding as well as private label branding." About Cendant Timeshare Resort Group The Cendant Timeshare Resort Group is the world's largest timeshare development business, with over $1 billion in combined annual vacation ownership interest revenues, and more than 600,000 owners, 10,000 units and 110 resorts. Business units include Fairfield Resorts, based in Orlando, Fla., and Trendwest Resorts, based in Redmond, Wash. The Cendant Timeshare Resort Group is dedicated to the highest standards of ethics and practices in the marketing and sales of innovative, market-leading vacation ownership products and services. Cendant Corporation (NYSE NYSE See: New York Stock Exchange : CD) is a diversified global provider of business and consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, primarily within real estate and travel.
Cendant Timeshare Resort Group
Fact Sheet
Description: The Cendant Timeshare Resort Group is the world's
largest timeshare development business, with over $1
billion in combined annual vacation ownership
interest revenues, and more than 600,000 owners,
10,000 units and 110 resorts.
The Cendant Timeshare Resort Group is dedicated to
the highest standards of ethics and practices in the
marketing and sales of innovative, market-leading
vacation ownership products and services.
Business Units: Fairfield Resorts, Inc. (acquired April 2, 2001)
8427 South Park Circle
Orlando, FL 32819
Equivest Finance, Inc. (acquired February 11, 2002)
8427 South Park Circle
Orlando, FL 32819
Trendwest Resorts Inc. (acquired May 1, 2002)
9805 Willows Road
Redmond, WA 98052
Headquarters: Cendant Timeshare Resort Group
1 Campus Drive
Parsippany, NJ 07054
Management: John W. (Jack) McConnell
President and CEO
Employees: 10,000 (combined)
Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.081302/bb1 |
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