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Wyndham Worldwide Reports Strong Fourth Quarter and Full Year 2007 Results
    - Delivers Double-Digit Top- and Bottom-Line Growth for Full Year 2007

    - Announces Full Year 2007 Adjusted EPS Growth of 25%

    - Affirms 2008 Guidance

PARSIPPANY, N.J., Feb. 12 /PRNewswire-FirstCall/ -- Wyndham Worldwide Corporation (NYSE: WYN) today announced results for the three months and year ended December 31, 2007.

Financial information discussed in this press release includes both GAAP and non-GAAP measures, which include or exclude certain items, or reflect pro forma adjustments, related to the Company's spin-off effective July 31, 2006. These non-GAAP measures differ from reported results and are intended to illustrate what management believes are relevant period-over-period comparisons. Non-GAAP measures are indicated as "Adjusted." A complete reconciliation of reported GAAP results to the comparable Adjusted information appears in the financial tables section of this press release.

    FOURTH QUARTER AND 2007 HIGHLIGHTS:

    -- Fourth quarter 2007 revenues increased 6% to $1.0 billion

    -- Fourth quarter 2007 net income was $104 million or $0.58 diluted
       earnings per share.  Adjusted net income was $83 million or $0.46
       diluted earnings per share.

    -- Revenues for full year 2007 increased 13% to $4.4 billion compared to
       full year 2006, with strong, top-line growth across the Company's three
       businesses

    -- Net income for full year 2007 increased 40% to $403 million, or $2.20
       per diluted share, compared to 2006 net income of $287 million, or
       $1.44 per diluted share

    -- Adjusted net income for full year 2007 increased to $387 million, or
       $2.12 per diluted share, up 14% and 25%, respectively, compared to 2006
       Adjusted net income of $339 million, or $1.70 per diluted share

    -- Vacation Ownership posted strong full-year results, with 2007 revenues
       and gross vacation ownership sales increasing 17% and 14%,
       respectively, compared to 2006

    -- Vacation Ownership resort count continued to expand, adding over 1,500
       units to the portfolio during the year

    -- Comparable revenue per available room (RevPAR) rose 5.9% in the fourth
       quarter of 2007 compared to the fourth quarter of 2006, while system-
       wide RevPAR increased 5.3% over the prior year period

    -- Lodging opened nearly 19,000 rooms in the fourth quarter of 2007, while
       ending the year with a hotel pipeline of over 105,000 rooms

    -- Average number of vacation exchange members increased 5% for full year
       2007 compared to 2006, reaching a Company record of more than 3.5
       million members

    -- Average net price per vacation rental increased 14% for full year 2007
       compared to 2006, or 6% excluding the favorable effect of currency
       translations

    -- During 2007, Wyndham Worldwide repurchased approximately 14.8 million
       shares. At December 31, 2007, approximately $163 million remained under
       the Company's previously announced share repurchase program.

"Wyndham Worldwide posted strong financial and operating results in 2007, concluding our first full year as a public company with double-digit revenue and EBITDA growth as each of our business units delivered within our expectations," said Stephen P. Holmes, Wyndham Worldwide chairman and chief executive officer. "Our company continues to benefit from a global portfolio of economically resilient businesses and brands and from our multiple revenue sources, with more than half of our revenue generated from fee-for-service businesses. We continue to believe that our business model solidly positions us for continued growth, even in what looks like a tougher economic environment in 2008."

FULL YEAR 2007 OPERATING RESULTS

Revenues for full year 2007 increased to $4.4 billion, up 13% over the same period in 2006, reflecting strong organic growth:

    -- Lodging revenues grew 10% primarily due to solid RevPAR gains,
       increased property management reimbursable revenues and the continued
       strength and positioning of our portfolio of brands worldwide

    -- Vacation Exchange and Rentals revenues increased 9% due to strength in
       vacation rentals and solid growth in the vacation exchange member base,
       as well as favorable currency translations

    -- Vacation Ownership posted terrific results, with full year 2007
       revenues and gross vacation ownership sales increasing 17% and 14%,
       respectively, driven by increases in both tour flow and volume per
       guest

Net income for full year 2007 was $403 million or $2.20 diluted earnings per share, compared to 2006 net income of $287 million or $1.44 diluted earnings per share. Net income for 2007 includes $10 million after-tax of separation and related costs and $26 million in after-tax net benefit from the resolution of and adjustment to certain legacy items. Excluding these items, Adjusted net income for full year 2007 was $387 million or $2.12 diluted earnings per share, up 14% and 25%, respectively, from full year 2006. Adjusted net income for full year 2006 was $339 million, or $1.70 diluted earnings per share.

FOURTH QUARTER 2007 OPERATING RESULTS

Revenues for the fourth quarter of 2007 were $1.0 billion, up 6% over the same period in 2006, reflecting continued organic growth.

Net income for the fourth quarter of 2007 was $104 million or $0.58 diluted earnings per share, compared to $92 million or $0.48 diluted earnings per share for the fourth quarter of 2006.

Excluding $21 million in after-tax net benefit from the resolution of and adjustment to certain legacy items, primarily related to a previously disclosed litigation settlement agreement by our former parent company, Adjusted net income for the fourth quarter of 2007 was $83 million, or $0.46 diluted earnings per share.

Excluding $22 million after-tax of separation and related costs and excluding $30 million in after-tax net benefit from the resolution of and adjustment to certain legacy items, Adjusted net income for the fourth quarter of 2006 was $84 million, or $0.44 diluted earnings per share.

BUSINESS UNIT RESULTS

Lodging (Wyndham Hotel Group)

Revenues increased 16% to $176 million in the fourth quarter of 2007 compared with the fourth quarter of 2006, reflecting strong RevPAR gains and increased property management reimbursable revenues. Comparable RevPAR increased 5.9% in the fourth quarter of 2007 and system-wide RevPAR increased 5.3% over the prior year period. For the quarter, Days Inn and Super 8, which collectively represent almost 60% of the Company's U.S. lodging portfolio -- continued to experience industry-leading comparable RevPAR growth for their segments. The Company's top five international lodging markets, Canada, China, the U.K., Germany and Mexico, which collectively represent 75% of the Company's international lodging portfolio, enjoyed RevPAR growth of almost 19% in the fourth quarter.

Property management reimbursable revenues were $28 million and marketing/reservation revenues, including TripRewards revenues, were $65 million in the fourth quarter of 2007, compared to $16 million and $61 million, respectively, in the fourth quarter of 2006; these items contribute little, if any, margin.

Fourth quarter 2007 EBITDA grew to $49 million compared to $47 million in the fourth quarter of 2006 (which included $1 million of separation and related costs). The EBITDA growth was muted by the timing of approximately $5 million of incremental marketing expenses.

As of December 31, 2007, the Company's hotel system consisted of approximately 550,600 rooms and 6,540 properties, with a development pipeline of approximately 930 hotels and over 105,000 rooms, of which 44% were new construction and 32% were international.

Vacation Exchange and Rentals (Group RCI)

Revenues increased to $280 million in the fourth quarter of 2007, a 5% increase compared with the fourth quarter of 2006, reflecting growth in both vacation exchange and vacation rentals, as well as favorable currency translations, partially offset by a decline in other ancillary revenue. Excluding the favorable effect of currency translations of $14 million, revenues were flat compared to the fourth quarter of 2006.

Vacation exchange revenues were $112 million, up 2% compared to the fourth quarter of 2006, primarily driven by a 5% increase in the average number of members, partially offset by a 3% decrease in annual dues and exchange revenue per member primarily related to the timing and mix of exchange deposits.

Vacation rentals revenues were $125 million, a 20% increase compared to the fourth quarter of 2006, or a 9% increase excluding the favorable effect of currency translations. These results reflect a 20% increase in the average net price per vacation rental, or 9% excluding favorable currency translations, primarily due to the mix of activity at premium locations and the conversion of existing Landal parks from franchised to managed properties.

Other ancillary revenues generated primarily from additional products and services provided to affiliates and members were $43 million in the fourth quarter of 2007, compared with $51 million in the fourth quarter of 2006, primarily due to the absence of $4 million of revenues recorded during the fourth quarter of 2006 relating to consulting activities in Asia Pacific and $3 million of other marketing program revenues.

Fourth quarter 2007 EBITDA was $56 million, compared to fourth quarter 2006 EBITDA of $59 million, dampened by the impact of the consulting activities mentioned above and other marketing revenues in the fourth quarter of 2006 that were not repeated in 2007.

Vacation Ownership (Wyndham Vacation Ownership)

Revenues increased 4% to $576 million in the fourth quarter of 2007 compared to the fourth quarter of 2006, reflecting continued success in marketing and sales, incremental property management revenues and growing consumer finance revenues. Fourth quarter 2007 revenues included a $21 million reduction in revenues as a result of deferred vacation ownership revenue under the percentage-of-completion method of accounting compared with an $11 million reduction in the fourth quarter of 2006.

Gross Vacation Ownership Interest sales (which exclude the effect of deferred revenues) were $488 million for the fourth quarter of 2007, up 4% compared to the fourth quarter of 2006, driven by marketing efforts resulting in increases in tour flow and volume per guest based on strong performance by our sales force and continued strength in transaction pricing.

Consumer finance revenues increased $17 million or 22% for the fourth quarter of 2007 compared to the fourth quarter of 2006, which was partially offset in EBITDA due to improved borrowing efficiency against vacation ownership receivables. This shifted approximately $4 million of what would have been interest expense below EBITDA into interest expense reflected within EBITDA.

EBITDA for the fourth quarter of 2007 increased 11% to $99 million, compared to $89 million in the fourth quarter of 2006, which included $15 million of separation and related costs. Fourth quarter 2007 EBITDA reflects a net reduction of approximately $6 million due to the increase in deferred vacation ownership revenue compared with the fourth quarter of 2006.

By the end of the quarter, Wyndham Vacation Ownership had largely completed its program of rebranding its properties under the Wyndham flag.

Other Items

Corporate results were positively affected by lower legal fees and transition service expenses in fourth quarter 2007 compared to the prior year period. Interest expense for the fourth quarter of 2007 was $17 million, unchanged from the fourth quarter of 2006. Interest income for the quarter was $2 million, a $1 million decrease from the comparable prior year period. Depreciation and amortization rose $3 million to $44 million.

    Balance Sheet Information as of December 31, 2007:
    -- Cash and cash equivalents of approximately $210 million compared to
       approximately $270 million at December 31, 2006
    -- Vacation ownership contract receivables, net, of $2.9 billion compared
       to $2.4 billion at December 31, 2006
    -- Vacation ownership and other inventory of approximately $1.2 billion
       compared to approximately $955 million at December 31, 2006
    -- Securitized vacation ownership debt of $2.1 billion compared to $1.5
       billion at December 31, 2006
    -- Other debt of $1.5 billion, compared to $1.4 billion at December 31,
       2006

A schedule of debt is included in the financial tables section of this press release.

Share Repurchase

The Company repurchased 970,000 shares of stock during the fourth quarter of 2007 at an average price of $27.92. For full year 2007, the Company repurchased 14.8 million shares of stock at an average price of $34.32. At December 31, 2007, approximately $163 million remained under the Company's previously announced share repurchase program.

Through February 11, the Company repurchased an additional 473,000 shares of stock at an average price of $22.19 and had approximately $154 million remaining under the current share repurchase authorization.

    Outlook and Guidance

    Wyndham Worldwide affirms guidance as follows:
    Full Year 2008:

    -- Revenues of $4,800 - $4,900 million
    -- EBITDA of $920 - $945 million
    -- Depreciation and amortization expense of $175 - $185 million
    -- Interest expense, net of $75 - $85 million
    -- Effective tax rate of 38.25%
    -- Net income of $401 - $429 million
    -- EPS of $2.23 - $2.38 based on weighted average shares of approximately
       180 million


    First Quarter 2008:
    -- EPS of $0.30 - $0.35 based on weighted average shares of approximately
       180 million
    -- EPS guidance reflects a reduction for the estimated impact of deferred
       vacation ownership revenue of $0.12 - $0.15 per share that will be
       recognized in future quarters

All guidance excludes legacy items which may have a positive or negative impact on reported results.

"I am pleased with our performance in 2007 and believe we are well- positioned to generate substantial long-term value for our shareholders," said Mr. Holmes. "While we see no current evidence of a slowdown in our businesses, we are watching consumer sentiment and the overall economy very carefully. That said, we believe 2008 will be a year of opportunity for Wyndham Worldwide, in large part because of the resiliency and flexibility inherent in our business model. We believe that Wyndham Worldwide can successfully compete and perform even in a slowing macro-economic environment."

Conference Call Information

Wyndham Worldwide Corporation will provide a webcast of its conference call to discuss the Company's fourth quarter and full year 2007 financial results on Tuesday, February 12, 2008 at 8:30 a.m. EST. Listeners may access the webcast live through the Company's Web site at www.wyndhamworldwide.com/investors/. An archive of this webcast will be available at the Web site for approximately 90 days beginning at noon EST on February 12. The conference call also may be accessed by dialing (517) 308- 9108 and providing the pass code "Wyndham." Listeners are urged to call at least 10 minutes prior to the scheduled start time. A telephone replay will be available at (203) 369-0767 beginning at noon EST on February 12 until 5 p.m. EST on February 17.

About Wyndham Worldwide

As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses more than 6,500 franchised hotels and approximately 550,000 hotel rooms worldwide. Group RCI offers its more than 3.6 million members access to more than 67,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of approximately 145 vacation ownership resorts serving over 800,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs more than 33,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company's web site at www.wyndhamworldwide.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, conveying management's expectations as to the future based on plans, estimates and projections at the time the Company makes the statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release include statements related to trends for the Company's revenues, earnings and related financial and operating measures and the number of hotels the Company intends to add in future periods.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward looking statements include general economic conditions, the performance of the financial markets, the economic environment for the hospitality industry, the impact of war and terrorist activity, operating risks associated with the hotel, vacation exchange and rentals and vacation ownership businesses, as well as those in the Company's 2006 Annual Report on Form 10-K, filed with the SEC on March 7, 2007. Except for the Company's ongoing obligations to disclose material information under the federal securities laws, it undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.



                                                                    Table 1
                        Wyndham Worldwide Corporation
                   OPERATING RESULTS OF REPORTABLE SEGMENTS
                                (In millions)


    In addition to other measures, management evaluates the operating
    results of each of its reportable segments based upon net revenues and
    "EBITDA," which is defined as net income before depreciation and
    amortization, interest expense (excluding interest on securitized
    vacation ownership debt), interest income, income taxes and cumulative
    effect of accounting change, net of tax, each of which is presented on
    the Company's Consolidated and Combined Statements of Income. The
    Company's presentation of EBITDA may not be comparable to similarly-
    titled measures used by other companies.

    The following tables summarize net revenues and EBITDA for reportable
    segments, as well as reconcile EBITDA to net income for the three and
    twelve months ended December 31, 2007 and 2006:


                                       Three Months Ended December 31,
                                  ----------------------------------------
                                          2007                 2006
                                  -------------------  -------------------
                                  Net Revenues EBITDA  Net Revenues EBITDA(c)
                                  ------------ ------  ------------ ------
    Lodging                            $176      $49        $152      $47
    Vacation Exchange and Rentals       280       56         266       59
    Vacation Ownership                  576       99         554       89
                                  ------------ ------  ------------ ------
      Total Reportable Segments       1,032      204         972      195
    Corporate and Other (a) (b)           -       28          (2)       6
                                  ------------ ------  ------------ ------
      Total Company                  $1,032     $232        $970     $201
                                  ============ ======  ============ ======

    Reconciliation of EBITDA to
     Net Income
    ---------------------------
    EBITDA                                      $232                 $201
    Depreciation and amortization                 44                   41
    Interest expense                              17                   17
    Interest income                               (2)                  (3)
                                               ------                ------
    Income before income taxes                   173                  146
    Provision for income taxes                    69                   54
                                               ------                ------
    Net income                                  $104                  $92
                                               ======                ======


                                       Twelve Months Ended December 31,
                                 ------------------------------------------
                                         2007                   2006
                                 -------------------    -------------------
                                 Net Revenues EBITDA(d) Net Revenues EBITDA(d)
                                 ------------ ------    ------------ ------
    Lodging                            $725    $223          $661     $208
    Vacation Exchange and Rentals     1,218     293         1,119      265
    Vacation Ownership                2,425     378         2,068      325
                                 ------------ ------    ------------ ------
       Total Reportable Segments      4,368     894         3,848      798
    Corporate and Other (a) (b)          (8)    (11)           (6)     (73)
                                 ------------ ------    ------------ ------
         Total Company               $4,360    $883        $3,842     $725
                                 ============ ======    ============ ======

    Reconciliation of EBITDA
     to Net Income
    ------------------------
    EBITDA                                     $883                   $725
    Depreciation and amortization               166                    148
    Interest expense                             73                     67
    Interest income                             (11)                   (32)
                                              ------                 ------
    Income before income taxes                  655                    542
    Provision for income taxes                  252                    190
                                              ------                 ------
    Income before cumulative effect of
     accounting change                          403                    352
    Cumulative effect of accounting
     change, net of tax                           -                    (65)
                                              ------                 ------
    Net income                                 $403                   $287
    ----------

    (a) Includes the elimination of transactions between segments; excludes
        incremental stand alone company costs through July 31, 2006.
    (b) Includes $41 million and $46 million of a net benefit during the
        three and twelve months ended December 31, 2007, respectively, and
        $32 million of a net benefit for the three and twelve months ended
        December 31, 2006 related to the resolution of and adjustment to
        certain contingent liabilities and assets.
    (c) Includes separation and related costs of $1 million, $15 million and
        $7 million for Lodging, Vacation Ownership and Corporate and Other,
        respectively, during the three months ended December 31, 2006.
    (d) Includes separation and related costs of $9 million and $7 million
        for Vacation Ownership and Corporate and Other, respectively, during
        the twelve months ended December 31, 2007 and $2 million, $3 million,
        $18 million and $76 million for Lodging, Vacation Exchange and
        Rentals, Vacation Ownership and Corporate and Other, respectively,
        during the twelve months ended December 31, 2006.



                                                                    Table 2
                        Wyndham Worldwide Corporation
           CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF INCOME
                     (In millions, except per share data)



                                        Three Months Ended Twelve Months Ended
                                           December 31,        December 31,
                                        ------------------ -------------------
                                          2007      2006     2007       2006
                                        -------   -------- --------   --------
    Net revenues
       Vacation ownership interest sales   $383     $379    $1,666     $1,461
       Service fees and membership          387      348     1,619      1,437
       Franchise fees                       118      112       523        501
       Consumer financing                    96       79       358        291
       Other                                 48       52       194        152
                                        -------   -------- --------   --------
    Net revenues                          1,032      970     4,360      3,842
                                        -------   -------- --------   --------

    Expenses
       Operating                            420      391     1,742      1,474
       Cost of vacation ownership
        interests                            80       78       376        317
       Marketing and reservation            199      168       831        734
       General and administrative (a)       100      109       519        493
       Separation and related costs (b)       -       23        16         99
       Depreciation and amortization         44       41       166        148
                                        -------   -------- --------   --------
    Total expenses                          843      810     3,650      3,265
                                        -------   -------- --------   --------

    Operating income                        189      160       710        577
    Other (income)/loss, net                  1        -        (7)         -
    Interest expense                         17       17        73         67
    Interest income                          (2)      (3)      (11)       (32)
                                        -------   -------- --------   --------

    Income before income taxes              173      146       655        542
    Provision for income taxes               69       54       252        190
                                        -------   -------- --------   --------

    Income before cumulative effect of
     accounting change                      104       92       403        352
    Cumulative effect of accounting
     change, net of tax (c)                   -        -         -        (65)
                                        -------   -------- --------   --------

    Net income                             $104      $92      $403       $287
                                        =======   ======== ========   ========

    Earnings per share
      Basic
       Income before cumulative effect
        of accounting change              $0.59    $0.48     $2.22      $1.78
       Cumulative effect of accounting
        change, net of tax                    -        -         -      (0.33)
                                        -------   -------- --------   --------
       Net income                         $0.59    $0.48     $2.22      $1.45
                                        =======   ======== ========   ========

      Diluted
       Income before cumulative effect
        of accounting change              $0.58    $0.48     $2.20      $1.77

       Cumulative effect of accounting
        change, net of tax                    -        -         -      (0.33)
                                        -------   -------- --------   --------
       Net income                         $0.58    $0.48     $2.20      $1.44
                                        =======   ======== ========   ========

    Weighted average shares outstanding
       Basic                                178      193       181        198
       Diluted                              179      194       183        199
    ----------

    (a) Includes a net benefit of $41 million and $46 million during the
        three and twelve months ended December 31, 2007, respectively, and
        $32 million during the three and twelve months ended December 31,
        2006 related to the resolution of and adjustment to certain
        contingent liabilities and assets.
    (b) Represents costs that the Company incurred in connection with the
        execution of its separation from its former parent, Cendant (now
        Avis Budget Group, Inc.).  Such amounts, net of tax, were $22
        million during the three months ended December 31, 2006 and $10
        million and $69 million during the twelve months ended December 31,
        2007 and 2006, respectively.
    (c) Represents non-cash charges to reflect the cumulative effect of
        adopting Statement of Financial Accounting Standards No. 152,
        "Accounting for Real Estate Time-Sharing Transactions," on January
        1, 2006.



                                                                   Table 3
                                                                   (1 of 2)

                        Wyndham Worldwide Corporation
                             OPERATING STATISTICS

                     Year      Q1       Q2       Q3       Q4      Full Year
                     ----      --       --       --       --      ---------
    Lodging (a)
      Number of
       Rooms (b)     2007   539,300  541,700  540,900   550,600        N/A
                     2006   525,500  535,900  533,700   543,200        N/A
                     2005   519,300  516,000  512,000   532,700        N/A
                     2004   515,700  514,500  509,600   521,200        N/A

      Weighted
       Average
       Rooms
       Available     2007   529,700  530,700  529,800   537,500    532,300
                     2006   520,600  531,000  529,200   529,900    527,700
                     2005   517,400  512,000  511,500   535,100    519,000
                     2004   512,000  510,700  507,300   503,000    508,200

      RevPAR         2007    $31.35   $38.35   $43.10    $33.09     $36.48
                     2006    $30.45   $36.97   $40.82    $31.41     $34.95
                     2005    $25.53   $31.91   $36.86    $29.72     $31.00
                     2004    $22.50   $29.08   $34.04    $24.53     $27.55

      Royalty,
       Marketing and
       Reservation
       Revenue
       (in 000s)     2007  $105,426 $129,453 $146,290  $107,870   $489,041
                     2006  $102,741 $125,409 $138,383  $104,505   $471,039
                     2005   $84,704 $104,281 $119,829   $99,804   $408,620
                     2004   $77,830  $97,959 $112,765   $82,502   $371,058

    Vacation Exchange
     and Rentals
      Average Number
       of Members
       (in 000s)     2007     3,474    3,506    3,538     3,588      3,526
                     2006     3,292    3,327    3,374     3,429      3,356
                     2005     3,148    3,185    3,233     3,271      3,209
                     2004     2,995    3,031    3,074     3,116      3,054

      Annual Dues
       and Exchange
       Revenue Per
       Member        2007   $155.60  $132.33  $131.38   $124.59    $135.85
                     2006   $152.10  $130.37  $132.31   $128.13    $135.62
                     2005   $159.12  $134.98  $125.64   $124.05    $135.76
                     2004   $159.55  $132.51  $123.55   $124.43    $134.82

      Vacation Rental
       Transactions
       (in 000s)     2007       398      326      360       293      1,376
                     2006       385      310      356       293      1,344
                     2005       367      311      344       278      1,300
                     2004       309      246      295       253      1,104

      Average Net
       Price Per
       Vacation
       Rental        2007   $349.73  $415.71  $506.78   $426.93    $422.83
                     2006   $312.51  $374.91  $442.75   $356.16    $370.93
                     2005   $331.37  $363.14  $412.66   $325.62    $359.27
                     2004   $279.46  $333.76  $368.79   $337.42    $328.77

    Vacation
     Ownership
      Gross Vacation
      Ownership
      Interest
      Sales
      (in 000s)      2007  $430,000 $523,000 $552,000  $488,000 $1,993,000
                     2006  $357,000 $434,000 $482,000  $469,000 $1,743,000
                     2005  $281,000 $354,000 $401,000  $360,000 $1,396,000
                     2004  $274,000 $315,000 $361,000  $304,000 $1,254,000

      Tours          2007   240,000  304,000  332,000   268,000  1,144,000
                     2006   208,000  273,000  312,000   254,000  1,046,000
                     2005   195,000  250,000  272,000   217,000    934,000
                     2004   181,000  227,000  246,000   205,000    859,000

      Volume Per
       Guest (VPG)   2007    $1,607   $1,596   $1,545    $1,690     $1,606
                     2006    $1,475   $1,426   $1,434    $1,623     $1,486
                     2005    $1,349   $1,284   $1,349    $1,507     $1,368
                     2004    $1,303   $1,253   $1,273    $1,327     $1,287


    Note: Full year amounts may not foot across due to rounding.

    (a) Quarterly drivers in the Lodging segment include the acquisitions of
        Ramada International (December 2004), Wyndham Hotels and Resorts
        (October 2005) and Baymont Inn & Suites (April 2006) from their
        acquisition dates forward.  Therefore, the operating statistics are
        not presented on a comparable basis.
    (b) Numbers include affiliated rooms from the fourth quarter of 2006
        forward.

                                                               Table 3
                                                               (2 of 2)

                        Wyndham Worldwide Corporation
                             OPERATING STATISTICS

                              GLOSSARY OF TERMS

    Lodging

    Number of Rooms: Represents the number of rooms at lodging properties
    under franchise and/or management agreements at the end of the period.

    Weighted Average Rooms Available: Represents the weighted average number
    of hotel rooms available for rental during the period.

    Average Occupancy Rate: Represents the percentage of available rooms
    occupied during the period.

    Average Daily Rate (ADR): Represents the average rate charged for renting
    a lodging room for one day.

    RevPAR:  Represents revenue per available room and is calculated by
    multiplying average occupancy rate by ADR.  Comparable RevPAR represents
    RevPAR of hotels which are included in both periods.

    Royalty, Marketing and Reservation Revenues:  Royalty, marketing and
    reservation revenues are typically based on a percentage of the gross
    room revenues of each franchised hotel. Royalty revenue is generally a
    fee charged to each franchised hotel for the use of one of our trade
    names, while marketing and reservation revenues are fees that we collect
    and are contractually obligated to spend to support marketing and
    reservation activities.  Marketing and reservation fees are also included
    in the above table within marketing, reservation and TripRewards
    revenues.


    Vacation Exchange and Rentals

    Average Number of Members:  Represents members in our vacation exchange
    programs who pay annual membership dues. For additional fees, such
    participants are entitled to exchange intervals for intervals at other
    properties affiliated with our vacation exchange business. In addition,
    certain participants may exchange intervals for other leisure-related
    products and services.

    Annual Dues and Exchange Revenue Per Member: Represents total revenues
    from annual membership dues and exchange fees generated for the period
    divided by the average number of vacation exchange members during the
    year.

    Vacation Rental Transactions: Represents the gross number of transactions
    that are generated in connection with customers booking their vacation
    rental stays through us. In our European vacation rentals businesses, one
    rental transaction is recorded each time a standard one-week rental is
    booked; however, in the United States, one rental transaction is recorded
    each time a vacation rental stay is booked, regardless of whether it is
    less than or more than one week.

    Average Net Price Per Vacation Rental: Represents the net rental price
    generated from renting vacation properties to customers divided by the
    number of rental transactions.


    Vacation Ownership

    Gross Vacation Ownership Interest Sales: Represents gross sales of
    vacation ownership interests (including tele-sales upgrades, which are a
    component of upgrade sales) before deferred sales and loan loss
    provisions.

    Tours: Represents the number of tours taken by guests in our efforts to
    sell vacation ownership interests.

    Volume per Guest (VPG): Represents revenue per guest and is calculated by
    dividing the gross vacation ownership interest sales, excluding tele-sales
    upgrades, which are a component of upgrade sales, by the number of tours.



                                                                   Table 4

                        Wyndham Worldwide Corporation
                               ADDITIONAL DATA



                        Year       Q1       Q2       Q3        Q4   Full Year
                        ----       --       --       --        --   ---------
    Lodging (a)

     Number of
      Properties (b)    2007    6,450    6,460     6,460     6,540       N/A
                        2006    6,300    6,440     6,420     6,470       N/A
                        2005    6,400    6,380     6,350     6,350       N/A
                        2004    6,380    6,390     6,350     6,400       N/A

     Marketing,
      Reservation and
      TripRewards
      Revenues
      (in 000s) (c)     2007  $61,369  $74,575   $84,820   $65,208  $285,973
                        2006  $58,572  $70,931   $78,856   $61,135  $269,495
                        2005  $45,066  $56,558   $65,812   $58,053  $225,491
                        2004  $39,092  $50,181   $57,485   $43,284  $190,044

     Property Management
      Reimbursable
      Revenue
      (in 000s) (d)     2007  $15,624  $22,338   $25,612   $28,414   $91,987
                        2006  $15,732  $19,935   $17,210   $16,263   $69,142
                        2005       $-       $-        $-   $17,291   $17,291
                        2004       $-       $-        $-        $-        $-

    Vacation Ownership

     Deferred
      Revenues
     (in 000s) (e)      2007   $3,906  $(4,908)     $506  $(21,092) $(21,588)
                        2006  $12,708    $(221) $(23,491) $(10,675) $(21,679)
                        2005     $492  $(9,150)  $(5,856)  $(2,022) $(16,536)
                        2004   $5,420  $(1,482) $(10,080)  $(2,467)  $(8,610)

     Estimated
      Uncollectible
      Receivables
      (in 000s) (f)     2007  $60,869  $75,032   $85,762   $83,644  $305,307
                        2006  $61,242  $55,872   $63,213   $78,680  $259,007
                        2005  $24,652  $27,754   $44,050   $31,644  $128,101
                        2004  $19,428  $21,910   $24,698   $19,535   $85,571


    Note: Full year amounts may not foot across due to rounding.

    (a)  Information includes the acquisitions of Ramada International
         (December 2004), Wyndham Hotels and Resorts (October 2005) and
         Baymont Inn & Suites (April 2006) from their acquisition dates
         forward.  Therefore, the data is not presented on a comparable basis.
    (b)  Numbers include affiliated hotels from the fourth quarter of 2006
         forward.
    (c)  Marketing and reservation revenues represent fees we receive from
         franchisees that are to be expended for marketing purposes or the
         operation of a centralized, brand-specific reservation system for the
         respective franchisees.  These fees are typically based on a
         percentage of the gross room revenues of each franchised hotel.
         Marketing and reservation fees are also included in the above table
         within royalty, marketing and reservation revenues.  TripRewards
         revenues represent fees we receive from the franchisees relating to
         our loyalty program.
    (d)  Primarily represents payroll costs in our hotel management business
         that we incur and pay on behalf of property owners and for which we
         are reimbursed by the property owners.
    (e)  Represents the revenue that is deferred under the percentage of
         completion method of accounting.  Under the percentage of completion
         method of accounting, a portion of the total revenue from a vacation
         ownership contract sale is not recognized if the construction of the
         vacation resort has not yet been fully completed.  This revenue will
         be recognized in future periods in proportion to the costs incurred
         as compared to the total expected costs for completion of
         construction of the vacation resort.  Positive amounts represent the
         recognition of previously deferred revenues.
    (f)  Represents expected losses on vacation ownership contract
         receivables.  Beginning January 1, 2006, the Company recorded
         estimated uncollectible receivables as a contra revenue to vacation
         ownership interest sales on the Consolidated and Combined Statements
         of Income, as required by Statement of Financial Accounting Standards
         No. 152, "Accounting for Real Estate Time-Sharing Transactions."
         Prior to January 1, 2006, the Company recorded estimated
         uncollectible receivables, net of estimated inventory recoveries, as
         a separate expense line item on the Consolidated and Combined
         Statements of Income and thus 2004 and 2005 amounts are not
         comparable to 2006 and 2007 amounts.



                                                                     Table 5
                        Wyndham Worldwide Corporation
                               SCHEDULE OF DEBT
                                (In millions)


                                Dec. 31, Sept. 30, June 30, March 31, Dec. 31,
                                  2007      2007     2007      2007     2006
                                -------- --------- -------- --------- --------

    Securitized vacation
     ownership debt
    Term notes                   $1,435    $1,148   $1,322      $887     $838
    Bank conduit facility (a)       646       777      491       826      625
                                -------- --------- -------- --------- --------
    Securitized vacation
     ownership debt (b)           2,081     1,925    1,813     1,713    1,463
    Less: Current portion of
     securitized vacation
     ownership debt                 237       304      242       231      178
                                -------- --------- -------- --------- --------
    Long-term securitized
     vacation ownership debt     $1,844    $1,621   $1,571    $1,482   $1,285
                                ======== ========= ======== ========= ========

    Debt:
      6.00% Senior unsecured
       notes (due December
       2016) (c)                   $797      $797     $797     $796      $796
      Term loan (due July 2011)     300       300      300      300       300
      Revolving credit facility
       (due July 2011) (d)           97       133      215       48         -
      Bank borrowings:
        Vacation ownership          164       148      130      112       103
        Vacation rentals (e)          -         -        -        -        73
      Vacation rentals capital
       leases                       154       153      147      147       148
      Other                          14        14       14       16        17
                                -------- --------- -------- --------- --------

    Total debt                    1,526     1,545    1,603    1,419     1,437
    Less: Current portion
     of debt                        175       159      140      123       115
                                -------- --------- -------- --------- --------
    Long-term debt               $1,351    $1,386   $1,463   $1,296    $1,322
                                ======== ========= ======== ========= ========

    (a) This 364-day vacation ownership bank conduit facility was renewed
        through October 2008 and upsized to $1,200 million on October 30,
        2007.
    (b) This debt is collateralized by $2,596 million, $2,428 million, $2,288
        million, $2,198 million and $1,844 million of underlying vacation
        ownership contract receivables and related assets at December 31,
        2007, September 30, 2007, June 30, 2007, March 31, 2007 and December
        31, 2006, respectively.
    (c) The balance at December 31, 2007 represents $800 million aggregate
        principal less $3 million of original issue discount.
    (d) The Company's revolving credit facility has a borrowing capacity of
        $900 million.  At December 31, 2007, the Company has $53 million of
        outstanding letters of credit and a remaining borrowing capacity of
        $750 million.
    (e) The borrowings under this facility were repaid on January 31, 2007.



                                                                       Table 6
                                                                      (1 of 2)
                        Wyndham Worldwide Corporation
                         HOTEL BRAND SYSTEMS DETAILS


                      As of and For the Three Months Ended December 31, 2007
                      ------------------------------------------------------
                                                                      Average
                                                                      Revenue
                                                              Average   Per
                                      Number  Number  Average  Daily Available
                                        of      of   Occupancy  Rate    Room
              Brand                Properties Rooms    Rate    (ADR)  (RevPAR)
    --------------------------------------------------------------------------
    Wyndham Hotels and Resorts          79    20,953   60.4%  $111.71  $67.44

    Wingate Inn                        152    13,944   56.8%   $92.25  $52.42

    Ramada                             874   106,978   50.9%   $83.24  $42.38

    Baymont                            193    16,592   43.2%   $58.92  $25.43

    AmeriHost Inn                       28     1,943   45.5%   $69.40  $31.60

    Days Inn                         1,883   153,333   46.7%   $62.19  $29.05

    Super 8                          2,081   128,587   51.1%   $57.77  $29.53

    Howard Johnson                     471    45,781   45.4%   $60.33  $27.39

    Travelodge                         494    36,876   44.7%   $67.25  $30.03

    Knights Inn                        268    18,733   37.7%   $43.35  $16.33

    Unmanaged, Affiliated and
     Managed, Non-Proprietary
     Hotels (*)                         21     6,856     N/A      N/A     N/A
                                     ---------------
       Total                         6,544   550,576   48.6%   $68.03  $33.09
                                     ===============

                      As of and For the Three Months Ended December 31, 2006
                      ------------------------------------------------------
                                                                      Average
                                                                      Revenue
                                                              Average   Per
                                      Number  Number  Average  Daily Available
                                        of      of   Occupancy  Rate    Room
                  Brand             Properties Rooms    Rate   (ADR)  (RevPAR)
    --------------------------------------------------------------------------
    Wyndham Hotels and Resorts          82    22,582    64.9% $108.63  $70.46

    Wingate Inn                        154    14,146    59.2%  $85.15  $50.41

    Ramada                             871   105,986    49.6%  $73.65  $36.53

    Baymont                            137    12,377    50.9%  $60.71  $30.88

    AmeriHost Inn                       98     6,745    50.0%  $61.58  $30.78

    Days Inn                         1,859   151,438    47.5%  $59.24  $28.13

    Super 8                          2,054   126,175    50.2%  $56.00  $28.11

    Howard Johnson                     467    44,432    38.9%  $64.49  $25.06

    Travelodge                         503    37,468    45.5%  $60.06  $27.33

    Knights Inn                        231    16,892    39.5%  $39.43  $15.56

    Unmanaged, Affiliated and
     Managed, Non-Proprietary
     Hotels (*)                         17     4,993      N/A     N/A    N/A
                                     ---------------
       Total                         6,473   543,234    48.5%  $64.70  $31.41
                                     ===============

    NOTE: A glossary of terms is included in Table 3 (2 of 2).

    (*) Represents 1) affiliated properties for which we receive a fee for
        reservation services provided and 2) properties managed under the CHI
        Limited joint venture.  These properties are not branded; as such,
        certain operating statistics (such as average occupancy rate, ADR and
        RevPAR) are not relevant.  Eight of the managed properties are
        scheduled to be branded or cobranded as either Wyndham or Ramada
        during 2008.



                                                                       Table 6
                                                                      (2 of 2)
                          Wyndham Worldwide Corporation
                           HOTEL BRAND SYSTEMS DETAILS

                      As of and For the Twelve Months Ended December 31, 2007
                      -------------------------------------------------------
                                                                      Average
                                                                      Revenue
                                                              Average   Per
                                      Number  Number  Average  Daily Available
                                        of      of   Occupancy  Rate    Room
                  Brand             Properties Rooms    Rate   (ADR)  (RevPAR)
    --------------------------------------------------------------------------
    Wyndham Hotels and Resorts          79   20,953    63.9% $112.42   $71.88

    Wingate Inn                        152   13,944    64.2%  $90.23   $57.96

    Ramada                             874  106,978    55.1%  $78.88   $43.48

    Baymont                            193   16,592    52.7%  $66.60   $35.09

    AmeriHost Inn                       28    1,943    48.5%  $67.09   $32.51

    Days Inn                         1,883  153,333    52.5%  $63.37   $33.24

    Super 8                          2,081  128,587    56.2%  $58.35   $32.80

    Howard Johnson                     471   45,781    48.4%  $64.34   $31.12

    Travelodge                         494   36,876    50.3%  $66.60   $33.52

    Knights Inn                        268   18,733    41.1%  $43.53   $17.88

    Unmanaged, Affiliated and
     Managed, Non-Proprietary
     Hotels (*)                         21    6,856      N/A     N/A     N/A
                                     --------------
       Total                         6,544  550,576    53.7%  $67.96   $36.48
                                     ==============


                      As of and For the Twelve Months Ended December 31, 2006
                      -------------------------------------------------------
                                                                      Average
                                                                      Revenue
                                                              Average   Per
                                      Number  Number  Average  Daily Available
                                        of      of   Occupancy  Rate    Room
                  Brand             Properties Rooms    Rate   (ADR)  (RevPAR)
    --------------------------------------------------------------------------
    Wyndham Hotels and Resorts          82   22,582    68.6% $110.37   $75.68

    Wingate Inn                        154   14,146    64.7%  $83.99   $54.33

    Ramada                             871  105,986    53.7%  $72.34   $38.85

    Baymont                            137   12,377    57.7%  $63.35   $36.56

    AmeriHost Inn                       98    6,745    53.7%  $62.09   $33.37

    Days Inn                         1,859  151,438    52.0%  $60.37   $31.41

    Super 8                          2,054  126,175    55.2%  $56.17   $31.00

    Howard Johnson                     467   44,432    46.3%  $65.82   $30.45

    Travelodge                         503   37,468    50.7%  $63.05   $31.95

    Knights Inn                        231   16,892    42.3%  $40.11   $16.98

    Unmanaged, Affiliated and
     Managed, Non-Proprietary
     Hotels (*)                         17    4,993      N/A     N/A     N/A
                                     --------------
       Total                         6,473  543,234    53.4%  $65.44   $34.95
                                     ==============



                                                                       Table 7
                                                                      (1 of 2)

                        Wyndham Worldwide Corporation
                           NON-GAAP RECONCILIATIONS
                     (In millions, except per share data)

                                         Three Months Ended
                                ------------------------------------    Year
                                                                       Ended
                                March 31, June 30, Sept. 30, Dec. 31, Dec. 31,
                                  2007      2007      2007     2007     2007
                                --------  -------  --------  -------  --------
    Reported EBITDA                $192     $211      $248     $232      $883
      Separation and related
       costs (a)                      6        7         3        -        16
      Resolution of and adjustment
       to contingent liabilities
       and assets (b)               (13)     (17)       25      (41)      (46)
                                --------  -------  --------  -------  --------
    Adjusted EBITDA                $185     $201      $276     $191      $853
                                --------  -------  --------  -------  --------
    Reported PreTax Income         $139     $154      $189     $173      $655
      Separation and related
        costs (a)                     6        7         3        -        16
      Resolution of and
       adjustment to contingent
       liabilities and assets (b)   (13)     (17)       25      (41)      (46)
                                --------  -------  --------  -------  --------
    Adjusted PreTax Income         $132     $144      $217     $132      $625
                                --------  -------  --------  -------  --------
    Reported Tax Provision         $(53)    $(58)     $(72)    $(69)    $(252)
      Separation and related
       costs (c)                     (2)      (3)       (1)       -        (6)
      Resolution of and
       adjustment to contingent
       liabilities and assets (c)     4        6       (10)      20        20
                                --------  -------  --------  -------  --------
    Adjusted Tax Provision         $(51)    $(55)     $(83)    $(49)    $(238)
                                --------  -------  --------  -------  --------
    Reported Net Income             $86      $96      $117     $104      $403
      Separation and related costs    4        4         2        -        10
      Resolution of and
       adjustment to contingent
       liabilities and assets        (9)     (11)       15      (21)      (26)
                                --------  -------  --------  -------  --------
    Adjusted Net Income             $81      $89      $134      $83      $387
                                --------  -------  --------  -------  --------
    Reported Diluted EPS          $0.45    $0.52     $0.65    $0.58     $2.20
      Separation and related
       costs                       0.02     0.02      0.01        -      0.05
      Resolution of and
       adjustment to contingent
       liabilities and assets     (0.05)   (0.06)     0.09    (0.12)    (0.14)
                                --------  -------  --------  -------  --------
    Adjusted Diluted EPS          $0.43    $0.49     $0.75    $0.46     $2.12
                                --------  -------  --------  -------  --------
    Diluted Shares                  190      183       180      179       183

    Note: Amounts may not foot due to rounding.
    (a) Represents the costs incurred in connection with the Company's
        separation from Cendant (now Avis Budget Group).
    (b) Relates to the net (benefit)/expense from the resolution of and
        adjustment to certain contingent liabilities and assets.
    (c) Relates to the tax effect of the adjustments.



                                                                       Table 7
                                                                      (2 of 2)
                          Wyndham Worldwide Corporation
                             NON-GAAP RECONCILIATIONS
                       (In millions, except per share data)


                                         Three Months Ended              Year
                              --------------------------------------    Ended
                              March 31,  June 30,  Sept. 30, Dec. 31, Dec. 31,
                                2006       2006       2006     2006     2006
                              ---------  --------  --------- -------  --------
    Reported EBITDA               $182      $166       $176    $201      $725
      Separation and related
       costs (a)                     3         5         68      23        99
      Incremental stand-alone
       costs (b)                   (13)      (13)        (4)      -       (30)
      Resolution of contingent
       liabilities (c)               -         -          -     (32)      (32)
                              ---------  --------  --------- -------  --------
    Adjusted EBITDA               $172      $158       $240    $192      $762
                              ---------  --------  --------- -------  --------
      Reported Depreciation and
       Amortization               $(34)     $(36)      $(37)   $(41)    $(148)
      Incremental stand-alone
       costs (b)                    (1)       (1)         -       -        (2)
                              ---------  --------  --------- -------  --------
    Adjusted Depreciation and
     Amortization                 $(35)     $(37)      $(37)   $(41)    $(150)
                              ---------  --------  --------- -------  --------
    Reported Interest
     Income/(Expense), Net          $2      $(11)      $(12)   $(14)     $(35)
      Incremental stand-alone
       costs (b)                   (12)      (12)        (4)      -       (28)
                              ---------  --------  --------- -------  --------
    Adjusted Interest
     Expense, Net                 $(10)     $(23)      $(16)   $(14)     $(63)
                              ---------  --------  --------- -------  --------
    Reported PreTax Income        $150      $119       $127    $146      $542
      Separation and related
       costs (a)                     3         5         68      23        99
      Incremental stand-alone
       costs (b)                   (26)      (26)        (8)      -       (60)
      Resolution of contingent
       liabilities (c)               -         -          -     (32)      (32)
                              ---------  --------  --------- -------  --------
    Adjusted PreTax Income        $127       $98       $187    $137      $549
                              ---------  --------  --------- -------  --------
    Reported Tax Provision        $(57)     $(44)      $(35)   $(54)    $(190)
      Separation and related
       costs (d)                    (2)       (2)       (25)     (1)      (30)
      Incremental stand-alone
       costs (d)                    10        10          3       -        23
      State tax rate
       adjustment (d) (e)            -         -        (15)      -       (15)
      Resolution of contingent
       liabilities (d)               -         -          -       2         2
                              ---------  --------  --------- -------  --------
    Adjusted Tax Provision        $(49)     $(36)      $(72)   $(53)    $(210)
                              ---------  --------  --------- -------  --------
    Reported Net Income            $28       $75        $92     $92      $287
      Cumulative effect of
       SFAS No. 152 (f)             65         -          -       -        65
                              ---------  --------  --------- -------  --------
    Reported Income before
     Cumulative Effect of
     SFAS No. 152                   93        75         92      92       352

      Separation and related costs   1         3         43      22        69
      Incremental stand-alone
       costs                       (16)      (16)        (5)      -       (37)
      State tax rate adjustment      -         -        (15)      -       (15)
      Resolution of contingent
       liabilities                   -         -          -     (30)      (30)
                              ---------  --------  --------- -------  --------
    Adjusted Net Income            $78       $62       $115     $84      $339
                              ---------  --------  --------- -------  --------
    Reported Diluted EPS         $0.14     $0.37      $0.45   $0.48     $1.44
      Cumulative effect of
       SFAS No. 152               0.32         -          -       -      0.33
                              ---------  --------  --------- -------  --------
    Reported Income before
     Cumulative Effect of
     SFAS No. 152                 0.46      0.37       0.45    0.48      1.77

      Separation and related
       costs                      0.00      0.01       0.21    0.11      0.35
      Incremental stand-alone
       costs                     (0.08)    (0.08)     (0.02)      -     (0.19)
      State tax rate adjustment      -         -      (0.07)      -     (0.08)
      Resolution of contingent
       liabilities                   -         -          -   (0.15)    (0.15)
                              ---------  --------  --------- -------  --------
    Adjusted Diluted EPS         $0.39     $0.31      $0.56   $0.44     $1.70
                              ---------  --------  --------- -------  --------
    Diluted Shares (g)             200       200        203     194       199

    Note: Amounts may not foot due to rounding.

    (a)  Represents the costs incurred in connection with the Company's
         separation from Cendant (now Avis Budget Group), primarily the
         acceleration of vesting of Cendant equity awards and the related
         equitable adjustments of such awards.
    (b)  Represents the Company's estimate of incremental stand-alone
         corporate costs, depreciation and amortization and interest expense
         associated with corporate debt that the Company would have incurred
         in 2006 if it was a separate stand-alone company.
    (c)  Relates to the net benefit from the resolution of certain contingent
         liabilities.
    (d)  Relates to the tax effect of the adjustments.
    (e)  Relates to a $15 million benefit relating to changes in the Company's
         2005 state effective tax rate.
    (f)  Represents non-cash charges to reflect the cumulative effect of
         adopting Statement of Financial Accounting Standards No. 152,
         "Accounting for Real Estate Time-Sharing Transactions," on January 1,
         2006.
    (g)  On July 31, 2006, the Separation from Cendant was completed in a tax-
         free distribution to the Company's stockholders of one share of
         Wyndham common stock for every five shares of Cendant common stock
         held on July 21, 2006.  As a result, on July 31, 2006, the Company
         had 200 million shares of common stock outstanding.  This share
         amount is being utilized for the calculation of diluted earnings per
         share for all periods presented prior to the date of Separation.


                                                                       Table 8
                                                                      (1 of 4)

                          Wyndham Worldwide Corporation
                          NON-GAAP FINANCIAL INFORMATION
                       (In millions, except per share data)

                                         Three Months Ended December 31, 2007
                                         -------------------------------------
                                                         Legacy
                                                       and Other
                                         As Reported  Adjustments  As Adjusted
                                         -----------  -----------  -----------
    Net revenues
       Vacation ownership interest sales       $383                      $383
       Service fees and membership              387                       387
       Franchise fees                           118                       118
       Consumer financing                        96                        96
       Other                                     48                        48
                                         -----------  -----------  -----------
    Net revenues                              1,032         -           1,032
                                         -----------  -----------  -----------
    Expenses
       Operating                                420                       420
       Cost of vacation ownership
        interests                                80                        80
       Marketing and reservation                199                       199
       General and administrative               100          41 (a)       141
       Depreciation and amortization             44                        44
                                         -----------  -----------  -----------
    Total expenses                              843          41           884
                                         -----------  -----------  -----------
    Operating income                            189         (41)          148
    Other loss, net                               1                         1
    Interest expense                             17                        17
    Interest income                              (2)                       (2)
                                         -----------  -----------  -----------
    Income before income taxes                  173         (41)          132
    Provision for income taxes                   69         (20)(b)        49
                                         -----------  -----------  -----------
    Net income                                 $104        $(21)          $83
                                         ===========  ===========  ===========
    Earnings per share
       Basic                                   0.59      $(0.12)        $0.47
       Diluted                                 0.58      $(0.12)         0.46

    Weighted average shares outstanding
       Basic                                    178         178           178
       Diluted                                  179         179           179

    Note: EPS amounts may not foot across due to rounding.
    (a) Relates to the net benefit from the resolution of and adjustment to
        certain contingent liabilities and assets.
    (b) Relates to the tax effect of the adjustments.



                                                                       Table 8
                                                                      (2 of 4)

                          Wyndham Worldwide Corporation
                          NON-GAAP FINANCIAL INFORMATION
                       (In millions, except per share data)

                                             Year Ended December 31, 2007
                                        --------------------------------------
                                                Separation   Legacy
                                                   and        and
                                                  Related    Other
                                           As     Adjust-    Adjust-     As
                                        Reported  ments      ments    Adjusted
                                        --------  ---------  -------- --------
    Net revenues
       Vacation ownership interest sales  $1,666                       $1,666
       Service fees and membership         1,619                        1,619
       Franchise fees                        523                          523
       Consumer financing                    358                          358
       Other                                 194                          194
                                        --------  ---------  -------- --------
    Net revenues                           4,360    -          -        4,360
                                        --------  ---------  -------- --------
    Expenses
       Operating                           1,742                        1,742
       Cost of vacation ownership
        interests                            376                          376
       Marketing and reservation             831                          831
       General and administrative            519                46 (b)    565
       Separation and related costs           16    (16)(a)               -
       Depreciation and amortization         166                          166
                                        --------  ---------  -------- --------
    Total expenses                         3,650    (16)        46      3,680
                                        --------  ---------  -------- --------

    Operating income                         710     16        (46)       680
    Other income, net                         (7)                          (7)
    Interest expense                          73                           73
    Interest income                          (11)                         (11)
                                        --------  ---------  -------- --------

    Income before income taxes               655     16        (46)       625
    Provision for income taxes               252      6 (c)    (20)(c)    238
                                        --------  ---------  -------- --------

    Net income                              $403    $10       $(26)      $387
                                        ========  =========  ======== ========
    Earnings per share
       Basic                               $2.22  $0.05     $(0.14)     $2.13
       Diluted                              2.20   0.05      (0.14)      2.12

    Weighted average shares outstanding
       Basic                                 181    181        181        181
       Diluted                               183    183        183        183

    Note: EPS amounts may not foot across due to rounding.
    (a) Represents the costs incurred in connection with the Company's
        separation from Cendant.
    (b) Relates to the net benefit from the resolution of and adjustment to
        certain contingent liabilities and assets.
    (c) Relates to the tax effect of the adjustments.



                                                                       Table 8
                                                                      (3 of 4)

                          Wyndham Worldwide Corporation
                          NON-GAAP FINANCIAL INFORMATION
                       (In millions, except per share data)

                                         Three Months Ended December 31, 2006
                                         ------------------------------------
                                                 Separation  Legacy
                                                    and       and
                                                   Related   Other
                                            As     Adjust-   Adjust-    As
                                         Reported  ments     ments    Adjusted
                                         -------- ---------  -------- --------
    Net revenues
       Vacation ownership interest sales     $379                        $379
       Service fees and membership            348                         348
       Franchise fees                         112                         112
       Consumer financing                      79                          79
       Other                                   52                          52
                                         -------- ---------  -------- --------
    Net revenues                              970    -          -         970
                                         -------- ---------  -------- --------
    Expenses
       Operating                              391                         391
       Cost of vacation ownership interests    78                          78
       Marketing and reservation              168                         168
       General and administrative             109               32 (b)    141
       Separation and related costs            23    (23)(a)              -
       Depreciation and amortization           41                          41
                                         -------- ---------  -------- --------
    Total expenses                            810    (23)       32        819
                                         -------- ---------  -------- --------

    Operating income                          160     23       (32)       151
    Interest expense                           17                          17
    Interest income                            (3)                         (3)
                                         -------- ---------  -------- --------

    Income before income taxes                146     23       (32)       137
    Provision for income taxes                 54      1 (c)    (2)(c)     53
                                         -------- ---------  -------- --------

    Net income                                $92    $22      $(30)       $84
                                         ======== =========  ======== ========
    Earnings per share
       Basic                                $0.48  $0.11    $(0.16)     $0.44
       Diluted                               0.48   0.11     (0.15)      0.44

    Weighted average shares outstanding
       Basic                                  193    193       193        193
       Diluted                                194    194       194        194

    Note: EPS amounts may not foot across due to rounding.
    (a) Represents the costs incurred in connection with the Company's
        separation from Cendant (now Avis Budget Group).
    (b) Relates to the net benefit from the resolution of certain contingent
        liabilities.
    (c) Relates to the tax effect of the adjustments.



                                                                   Table 8
                                                                  (4 of 4)

                        Wyndham Worldwide Corporation
                        NON-GAAP FINANCIAL INFORMATION
                     (In millions, except per share data)

                                         Year Ended December 31, 2006
                               -----------------------------------------------
                                        Separation  Legacy   Stand-
                                           and       and      Alone
                                          Related   Other    Company
                                   As     Adjust-   Adjust-  Adjust-     As
                                Reported  ments     ments    ments    Adjusted
                               --------- --------- --------- -------- --------

    Net revenues
      Vacation ownership interest
       sales                     $1,461                                $1,461
      Service fees and membership 1,437                                 1,437
      Franchise fees                501                                   501
      Consumer financing            291                                   291
      Other                         152                                   152
                               --------- --------- --------- -------- --------
    Net revenues                  3,842         -        -         -    3,842
                               --------- --------- --------- -------- --------

    Expenses
      Operating                   1,474                                 1,474
      Cost of vacation ownership
       interests                    317                                   317
      Marketing and reservation     734                                   734
      General and administrative    493                 32(b)     30(c)   555
      Separation and related costs   99       (99)(a)                       -
      Depreciation and
       amortization                 148                            2(c)   150
                               --------- --------- --------- -------- --------
    Total expenses                3,265       (99)      32        32    3,230
                               --------- --------- --------- -------- --------
    Operating income                577        99      (32)      (32)     612
    Interest expense                 67                           28(c)    95
    Interest income                (32)                                   (32)
                               --------- --------- --------- -------- --------
    Income before income taxes      542        99      (32)      (60)     549
    Provision for income taxes      190        30(d)    (2)(d)    (8)(d)  210
                               --------- --------- --------- -------- --------
    Income before cumulative effect
     of accounting change           352        69      (30)      (52)     339
    Cumulative effect of
     accounting change             (65)                 65(e)               -
                               --------- --------- --------- -------- --------
    Net income                     $287       $69      $35      $(52)    $339
                               ========= ========= ========= ======== ========
    Earnings per share
      Basic
       Income before cumulative
        effect of accounting
        change                    $1.78     $0.35   $(0.15)   $(0.26)   $1.71
       Cumulative effect of
        accounting change         (0.33)        -     0.33         -         -
                               --------- --------- --------- -------- --------
       Net income                 $1.45     $0.35    $0.18    $(0.26)   $1.71
                               ========= ========= ========= ======== ========
      Diluted
       Income before cumulative
        effect of accounting
        change                    $1.77     $0.35   $(0.15)   $(0.26)   $1.70
       Cumulative effect of
        accounting change         (0.33)        -     0.33         -        -
                               --------- --------- --------- -------- --------
       Net income                 $1.44     $0.35    $0.18    $(0.26)   $1.70
                               ========= ========= ========= ======== ========

    Weighted average shares outstanding
      Basic                         198       198      198       198      198
      Diluted                       199       199      199       199      199

    Note: EPS amounts may not foot across due to rounding.
    (a)  Represents the costs incurred in connection with the Company's
         separation from Cendant (now Avis Budget Group), primarily the
         acceleration of vesting of Cendant equity awards and the related
         equitable adjustments of such awards.
    (b)  Relates to the net benefit from the resolution of certain contingent
         liabilities.
    (c)  Represents the Company's estimate of incremental stand-alone
         corporate costs, depreciation and amortization and interest expense
         associated with corporate debt that the Company would have incurred
         if it was a separate stand-alone company in 2006.
    (d)  Relates to the tax effect of the adjustments and a $15 million
         benefit relating to the changes in the Company's 2005 state effective
         tax rates.
    (e)  Represents non-cash charges to reflect the cumulative effect of
         adopting Statement of Financial Accounting Standards No. 152,
         "Accounting for Real Estate Time-Sharing Transactions," on January 1,
         2006.

SOURCE  Wyndham Worldwide Corporation
    -0-                             02/12/2008
    /CONTACT:  Investor contact, Margo C. Happer Senior Vice President,
Investor Relations, Wyndham Worldwide Corporation, +1-973-753-6472,
Margo.Happer@wyndhamworldwide.com; or Press contact, Betsy O'Rourke, Senior
Vice President, Marketing and Communications, Wyndham Worldwide Corporation,
+1-973-753-7422, Betsy.O'Rourke@wyndhamworldwide.com/
    /Web site:  http://www.wyndhamworldwide.com
                http://www.wyndhamworldwide.com/investors /
    (WYN)

CO:  Wyndham Worldwide Corporation
ST:  New York
IN:  TRA LEI
SU:  ERN ERP CCA

KM-HB
-- NYTU012 --
3452 02/12/2008 06:45 EST http://www.prnewswire.com