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Worldmark, Fairfield, Equifax merger?

melpollard

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RCI, Worldmark, Fairfield and Equivest merger

I'm not exactly sure which forum this belongs, so move it if you need to.

We are Worldmakr owners visiting Destin, FL. We decided to check out the Fairfield Majestic Sun location while we were here, since WM owners have reciprocal benefits with that resort. I met with a tour person (not in the sales dept) who told me that there is a merger taking place and that we would soon be all one company. He called in a manager to verify what he told me was correct, and the manager verified it.

I'm not sure how that is going to effect my timeshares. We have three SA units and one Worldmark membership. Would appreciate any information. Thanks, Melanie
 
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Lee B

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For a few years already, those companies have been owned by Cendant Corporation, which also owns hotel brands (e.g. Ramada, Wyndham), car rental brands (Budget, Avis) and real estate brands (Century 21, Coldwell Banker). Lately they announced that Cendant would split into four components. WM and FF would go into one division and RCI into another, I recall.

This topic comes up occasionally, usually in the Exchanging board. When it does, some TUGgers declare the end of timesharing as we know it.

Cendant's first name was Hospitality Franchise Corporation because it bought up parent hotel companies, some of which were in bankruptcy. Later, they bought real estate franchisers and Avis, so changed the name to the initials HFC. HFC bought RCI, then made a disastrous merger with a crooked company (they didn't discover that until afterward) and renamed the new company Cendant. RCI, dealing with WM, learned that the founders of Trendwest were wanting to sell, and Cendent bought them. Next came Fairfield...

Now they believe that stock of the four different parts of Cendant would sell for more than the one company. Wall Street is slow to agree.
 

RichM

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Trendwest is slowly being absorbed into CTRG (Cendant Timeshare Resort Group) as witnessed by new business cards recently spotted at some WM resorts. Fairfield will probably go the same way as far as the management/development aspects.

WorldMark The Club, however, is unique in that it is an independent entity/corporation and not owned by Cendant or Trendwest. Theoretically the club and its board will remain independent (except for the majority members on the WM board that work for CTRG). There shouldn't be a way in which Cendant can just "take" the WorldMark resorts and merge them into the Fairfield system, or vice versa. It would seem the WorldMark owners would at least have some say here and that the WM BOD's "Cendant-by-proxy" rubber stamp wouldn't be good enough to approve such a merger.

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mtngal

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I've never attended a Fairfield resort or sales presentation, so I'm only going by what I've read here by others. However, I've been hearing reports that Fairfield has been saying this for years - ever since Cendant bought Trendwest. However, it has never happened, and as Rich said above, it can't happen easily. However, I suppose that it is possible that Trendwest could become the developer for Fairfield resorts, but that's about all that could happen, in my opinion.
 

spatenfloot

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They can't really be merged but they can have a closer relationship, ie more associate resorts. WM is not owned by Trendwest, they are only the developer.
 

ragtop

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Trendwest and Fairfield are, for most practical purposes, already merged. Even where they have different staffs, the executives report up to a single Cendant Timeshare Resort Group executive staff.
 

melpollard

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So, in your opinion, how will this impact WM owners?

I know this is all speculation, but how do you think it will affect WM owners? Also, how will it affect SA timeshares that are traded through RCI?

Do you think owning WM points will be a disadvantage over owning a particular fixed week resort or quarter-time resort?
 

Lee B

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How SA resorts will trade through RCI will be affected most by supply and demand, which their owner associations can affect to a degree. Other factors affecting supply and demand are world politics and the world economy. I don't think how RCI is managed or who owns it will has as much effect as those things.

See the Points Discussion board for the merits of WM points vs other schemes. Opinions vary all over. I expect WM owners to do well for awhile yet. The main thing that could hurt WM The Club is how it is run by Trendwest. For most of its history, and probably still today, it has been run very well. Keep your membership, wait and see.
 

somerville

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I wouldn't put much stock in what some tour person said. I am an Equivest points owner, and Fairfield purchased Equivest before it purchased Worldmark. Fairfield has kept Equivest separate and has consistently said that it has no plans to merge it into Fairfield. I believe that Fairfield is trying to eliminate Equivest points through attrition. Our fees have doubled since the merger and membership has declined by ay least 25% and continues to slide. So far you Worldmark owners have been lucky that your fees are low. I just wonder how much longer it will last. Our fees are so high that you cannot give memberships away. There have been a lot of Equivest points memberships offered on eBay for $1 that get no bids.
 

somerville

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Theresa said:
Just to clarify...it was Cendant that purchased Trendwest.
I use Cendant and Fairfield interchangeably. Technically, it was Cendant that bought Equivest. However, it is basically long time Fairfield people who are running the show.
 

RichM

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somerville said:
I use Cendant and Fairfield interchangeably. Technically, it was Cendant that bought Equivest. However, it is basically long time Fairfield people who are running the show.

Whoever did the purchasing (Cendant/Fairfield) isn't quite as important as what/whom they purchased. They purchased Trendwest, not WorldMark.


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Jya-Ning

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PClapham said:
See the post on tug general about this-any reactions? Is it just another selling ploy?
Anita :eek:

WM and FF, not going to happen. WM is club owns resorts, and owners own club. FF is owners own resorts, then give the user right to a trust to get trust exchange points. Two different systems, FF could not even handle its own system well. In order to merge two together, someone need to come up the money to cover the merge cost, and the majority owners need to pay for and approve that. More likely, they (TW and FF) as developer will open the channel to share more rooms between each other until they build enough on each other's properties.

Equivest is different story, its club is close to WM, its resorts is close to FF. FF already has try to convert some of the resorts into its own system by charge owner conversion fee. Some of the resorts it may not going to do conversion since they can not build there. Don't know if they will want to convert Equivest club to WM. Very doubtful.

Jya-Ning
 

Dave M

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I have merged two threads on this topic from separate forums. Thus, responses above might not necessarily appear to be responsive to the preceding post.
 
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