I think your number is way low. That is only 5,000 guest certificate fees. I am guessing it is in the millions of dollars. I know of mega renters (not myself) that do close to 5,000 rentals a year by themselves.
Jason
You can question my assumption, and if so, use your numbers instead.
It has been suggested that the largest mega-renter manages up to 240,000,000 points for Platinum owners.
The average Platinum owner provides 4,000,000 points to the mega-renter to manage.
This leaves 240,000,000 points / 4,000,000 points per owner = 60 Platinum owners having their points managed.
On average these 60 Platinum owners get 30 free guest certificates.
This leaves 60 * 30 = 1,800 free guest certificates available for the mega-renter’s use.
Now,
The average Platinum reservation uses 50,000 points.
That results in 240,000,000 / 50,000 = 4,800 reservations done by the mega-renter.
Most mega-renter guest certificates are done online at $99, I’ll use $100.
(4,800 – 1,800) * $100 = $300,000 in paid guest certificates by the mega-renter.
This biggest mega-renter does about 10% of all paid guest certificates.
$300,000 * 10 = $3,000,000 in paid guest certificates.
Even if it is two to five times my approximations, this is still just a revenue drop in the bucket for Wyndham.
Jim