SOURCE: Endless Vacation Rentals

 

PARSIPPANY, NJ--(Marketwire - October 22, 2008) - Executives from Endless Vacation Rentals by Wyndham Worldwide (NYSE: WYN) and PhoCusWright presented landmark research on the $24 billion vacation rental industry, one of the untapped travel segments that is poised for significant change and growth.

"As an expert and leader in the vacation rentals industry, we are committed to staying at the forefront of this rapidly growing travel segment," said Geoff Ballotti, President and CEO of Group RCI, the parent company of Endless Vacation Rentals. "With this new research we intend to look for new opportunities to further leverage our 40 years of experience as a well-known and trusted provider of vacation rentals all over the world," Ballotti added.

"The vacation rental marketplace is large, dynamic, long understudied and poised for transformation. U.S. consumers are voracious travelers, hungry for value, but accustomed to hotels," said Douglas Quinby, senior director, research at PhoCusWright. "Vacation rental companies that smartly target that demand can not only tap this growing $24 billion opportunity, but the larger leisure hotel market as well."

Key findings from "PhoCusWright's Vacation Rental Marketplace: Poised for Change" include:

1. Nearly two thirds of vacation rental guests researched online for their last trip

2. 20 percent of online travel shoppers (who used at least one website to plan their travel) booked a vacation rental in the past year

3. Vacation rental guests are well-off, well-traveled, well-educated and savvy Internet users

4. Vacation rental guests are very satisfied: 89% of vacation rental guests indicated that they will rent again within three years

"We were delighted to see confirmation from this research that consumers place a high value on many of the unique services Endless Vacation Rentals provides. Based on our vast experience abroad, we focused on hospitality service from day one, including a Best Price Guarantee, three-day cancellation policy, property ratings and a website that allows customers to search and book in real time and pay by credit card in US currency. We also offer 24/7 check-in assistance. These are services that are unique to Endless Vacation Rentals and that consumers have identified as important when selecting a vacation rental," commented Jessica Kornacki, Vice President of Marketing for Endless Vacation Rentals.

Endless Vacation Rentals launched in the U.S. during the summer of 2007, leveraging the experience and inventory of several rental companies operated by parent company Wyndham Worldwide. "We have years of experience in vacation rental," added Ballotti, and we believe the U.S. market is ready for this type of vacation to come of age. Most rentals today happen through a local realtor and have no guarantees. Endless Vacation Rentals capitalizes on our hospitality experience to take the risk out of vacation rental and make our inventory accessible through the website."

The "PhoCusWright's Vacation Rental Marketplace: Poised for Change" research methodology included a survey to consumers who have and have not booked vacation rentals, vacation homeowners and vacation rental management companies over the last 6 months. In addition, more than 30 in-depth interviews were conducted with vacation rental management companies, distributors, technology firms, online players and homeowners.

Endless Vacation Rentals® Offers Three-Day, No-Cost Cancellation Policy

Global Vacation Rental Innovator Adds More Consumer Friendly Services

With travel plans in a constant flux due to changes in the U.S. and world economy, cancelled flights and tightening travel budgets, the last thing vacationers want to contend with are the hefty cancellation penalties imposed on their unusable reservations. These charges often run in the hundreds and thousands of dollars, particularly for travelers staying in traditional rental villas and homes where reservations are often made months in advance. Endless Vacation Rentals by Wyndham Worldwide (NYSE: WYN) has introduced a new no-cost cancellation policy that has revolutionized the vacation rental industry.

Endless Vacation Rentals three-day cancellation policy provides increased flexibility for travelers who need to change their vacation plans without being penalized. Under the new program, travelers may cancel accommodations for any reason at least three days prior to their scheduled arrival and receive a 100 percent refund on the reservation. The three-day cancellation policy is valid for most properties offered by Endless Vacation Rentals with the exception of properties from Cuendet & CIE Spa (Cuendet®) and Holiday Cottages Group Limited (English Country Cottages).

"Even with the best advance planning, dream vacations can quickly become nightmares when plans change, especially with all the booking restrictions that most vacation rental companies impose," said Jessica Kornacki, Vice President of Marketing for Endless Vacations Rentals.

"Our three-day cancellation policy effectively supports the needs of today's travelers who are looking for flexibility and the added assurance that if plans do change, our customers won't be penalized. The cancellation policy is just one of many ways Endless Vacation Rentals by Wyndham Worldwide differentiates itself from traditional vacation rental listing services," Kornacki added.

Endless Vacation Rentals is a one-stop shop that provides access to one of the largest collections of global vacation rental accommodations in the industry today. From studio, one-bedroom, and two-bedroom resort condos in destinations such as Arizona, Florida, Las Vegas, Mexico, and the Caribbean -- to villas, apartments and homes in Italy, France, Spain, Great Britain and beyond, the range of options abounds. At EVRentals.com, customers can search and book in real time, and pay by credit card in US currency. Reservations are backed by a Best Price Guarantee, 24/7 check-in assistance and are refundable up to three days prior to check-in. Additionally, qualified stays earn 5,000 Wyndham Rewards(SM) points per reservation and the company's staff of experienced vacation guides is available by phone to assist consumers throughout the rental process.

Endless Vacation Rentals Points of Difference include:

Best Price Guarantee

If a lower price is found online for the same vacation rental accommodation within 24 hours of booking, Endless Vacation Rentals will make up the difference, plus award a $50 USD travel coupon for a future vacation rental purchase (certain conditions apply; go to www.evrentals.com for details).

No Booking Fees

EVRentals.Com does not charge booking fees. The price displayed is the final cost.

Check-in Assistance

Check-in assistance is available to guests with confirmation numbers any time, 24-hours a day, 7 days a week.

Helpful Property Ratings

Similar to hotel diamond and star ratings, every property is ranked based on a 'key' rating system. The ratings are primarily based on the feedback that is received by vacationers who have stayed with us.

Extra Perks

Earn 5,000 Wyndham Rewards(SM) points on most Endless Vacation Rentals bookings which can be used for airfare, theme park tickets and loads of other goodies.

Simplified Booking

EVRentals.com makes it simple to search for the desired property, view availability and book a great vacation without the hassle. Unlike many other vacation rental sites, there's no need to call the property or submit a request form in order to book. Simply find the property and book it online in three easy steps.

Customer Satisfaction Survey

Guests are sent a quick online survey for feedback after you have returned home from trips booked on EVRentals.com. As a thank you for completing it, a $50 USD travel coupon (valid for 6 months) toward a future reservation at EVRentals.com is included.

Endless Vacation Rentals® Launches Live Global Concierge

Complimentary Guest Service Provides Pre-Trip Reservations for Restaurants, Tee Times, Event Tickets and Other Travel Assistance

Endless Vacation Rentals by Wyndham Worldwide (NYSE: WYN) now offers its customers access to their own global travel expert through its exclusive Concierge Service. The service is free of charge to all customers holding a confirmed reservation and can be used to secure restaurant recommendations, tickets to events, golf tee times, transportation arrangements including private charters and car services, and referrals to recreational amenities and local medical facilities. Eligible guests will be able to access the live concierge service up to 14 days prior to their departure and anytime during their vacation. The new service is available live, 24 hours a day, seven days a week, in five popular languages: English, Spanish, French, Italian and German.

"We know from all of our research, combined with our 40 years of experience as a market leader, that guests who rent vacation homes are looking for many of the same amenities and services found at hotels and resorts," said Geoff Ballotti, President and CEO of Group RCI, the parent company of Endless Vacation Rentals. "Now, not only will our customers have access to the largest global collection of vacation rental properties in the industry, but they'll also have access to their own global travel concierge to help take the guess-work out of planning the perfect get-away."

Endless Vacation Rentals by Wyndham Worldwide, available online at www.EVRentals.com, offers one of the largest global selections of more than 200,000 accommodations including homes, villas and resort condos in highly desirable destinations in 100+ countries. EVRentals.com is not a rental listing company; it is a true hospitality provider allowing consumers to search and book a wide variety of vacation rentals around the world as easily as reserving a hotel room online. Unlike rental listing companies, EVRentals.com allows customers to search in real time and pay by credit card in U.S. currency. With few exceptions, reservations are backed by a Best Price Guarantee and are 100 percent refundable if cancelled up to three days before check-in. Additionally, members of the free Wyndham Rewards® program earn 5,000 Wyndham Rewards(SM) points per qualified stay.

To access the new Endless Vacation Rentals Concierge Service, confirmed travelers will be provided with a toll-free phone number in their Endless Vacation Rentals pre-arrival e-mail up to 14 days before their departure date.

To learn more about Endless Vacation Rentals by Wyndham Worldwide or to make a reservation, visit www.EVRentals.com.

About Endless Vacation Rentals By Wyndham Worldwide

Endless Vacation Rentals, one of the Wyndham Worldwide family of brands (NYSE: WYN) provides access to one of the largest collection of global vacation rental accommodations in the industry, allowing travelers to browse from over 200,000 accommodations. At www.EVRentals.com it's as easy and convenient to search for, view availability, and book vacation rentals as booking typical hotel accommodations online. For additional information, visit www.EVRentals.com.

About PhoCusWright

PhoCusWright is the travel industry research authority on how travelers, suppliers and intermediaries connect. Independent, rigorous and unbiased, PhoCusWright fosters smart strategic planning and tactical decision-making.

PhoCusWright delivers qualitative and quantitative research on the evolving dynamics that influence travel, tourism and hospitality distribution. Our marketplace intelligence is the industry standard for segmentation, sizing, forecasting, trends, analysis and consumer travel planning behavior. Every day around the world, senior executives, marketers, strategists and research professionals from all segments of the industry value chain use PhoCusWright research for competitive advantage.

To complement its primary research in North America, Europe and Asia, PhoCusWright produces several high-profile conferences in the U.S., Germany and India, and partners with conferences in the U.K., China and Singapore. Industry leaders and company analysts bring this intelligence to life by debating issues, sharing ideas and defining the ever-evolving reality of travel commerce.

The company is headquartered in the United States, with offices in Germany and India.

www.phocuswright.com