(AFX UK Focus) 2008-12-08 22:24 UPDATE 1-Wyndham Worldwide to shrink timeshare business (Interactive Investor) NEW YORK, Dec 8 (Reuters) - Wyndham Worldwide Corp said on Monday it will shrink its Timeshare business to help eliminate its reliance on the asset-backed securities market. Wyndham said it expects to reduce gross vacation ownership interest sales in 2009 to $1.2 billion from expected gross sales of $2 billion in 2008 by eliminating sales offices and marketing programs.
(AFX UK Focus) 2008-12-09 22:50 UPDATE 1-Marriott CFO warns of "tough 2009" (Interactive Investor) LOS ANGELES, Dec 9 (Reuters) - Hotel operator Marriott International Inc expects "to have to navigate through a tough 2009," the company's chief financial officer said on Tuesday. Arne Sorenson said in a blog posting on the company's website that Marriott's debt levels and Timeshare investment spending were expected to decline next year, The company said in October that it expected revenue per ...
