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Wyndham Worldwide Reports Strong Fourth Quarter and Full Year 2006 Results
      Double Digit Revenue Growth in 4th Quarter Closes Out Banner Year

         Company Announces New $400 Million Share Repurchase Program

PARSIPPANY, N.J., Feb. 13 /PRNewswire-FirstCall/ -- Wyndham Worldwide Corporation (NYSE: WYN) today announced results for the three-months and year ended December 31, 2006.

Financial information discussed in this press release include 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 2006 HIGHLIGHTS INCLUDE:
    * Net income for the quarter was $92 million, or $0.48 per diluted share.
      Adjusted net income was $84 million or $0.44 per diluted share, at the
      upper end of company-issued guidance, or 11% ahead of last year's
      results on an Adjusted basis.

    * Revenue increased 13% compared to the fourth quarter of 2005, with
      strong top-line growth across the Company's three businesses:  Lodging,
      Vacation Exchange and Rentals, and Vacation Ownership.

      -- Lodging revenues grew 6% and franchise fees grew 5% compared to the
         fourth quarter of 2005.  Wyndham Worldwide added approximately 10,000
         net rooms to its hotel portfolio.

      -- Positive momentum continued in the Vacation Exchange and Rentals
         business, with revenue increasing 13% compared to the fourth quarter
         of 2005.

      -- Continued robust growth of the Vacation Ownership business, with
         gross vacation ownership interest sales increasing more than 30%
         compared to the fourth quarter of 2005 driven by strong increases in
         both tour flow and volume per guest.

    * The Company's Board of Directors has authorized a new share repurchase
      program of $400 million.  The Company recently completed a share
      repurchase announced in August 2006, under which it repurchased 13.5
      million shares at an average price of $29.72.

"We finished the year with great momentum in each of our three businesses," said Stephen P. Holmes, Wyndham Worldwide chairman and chief executive officer. "We posted double-digit revenue and Adjusted EBITDA growth in the fourth quarter of 2006. Our portfolio of diverse brands, locations and products gives us great financial stability, particularly since more than half of our revenue stems from fees related to services for consumers and business partners. Our strength in leisure accommodations allows us to capture share and expand our presence in a growing global travel industry."

Fourth Quarter 2006 Operating Results

Revenues for the fourth quarter of 2006 were $970 million, up 13% over the same period in 2005, reflecting strong growth across the businesses. Adjusted EBITDA for the fourth quarter was $192 million, excluding separation and related costs and the net benefit from the resolution of certain contingent liabilities, compared to $164 million for the fourth quarter of 2005. Adjusted net income for the fourth quarter of 2006 was $84 million or $0.44 per diluted earnings per share excluding:

    * $22 million after-tax separation and related costs associated with
      Wyndham Worldwide's spin-off from Cendant Corporation (now Avis Budget
      Group)
    * A $30 million after-tax net benefit from the resolution of certain
      contingent liabilities

Net income for the fourth quarter of 2006 was $92 million, compared to $91 million for the fourth quarter of 2005. Net income for 2005 excludes stand- alone corporate costs and interest expense associated with corporate debt since Wyndham Worldwide was a subsidiary of Cendant for all of 2005. Had Wyndham Worldwide been a stand-alone, public company during the fourth quarter of 2005 compared to the fourth quarter of 2006, Adjusted net income would have increased 11% to $84 million from $76 million.

Lodging (Wyndham Hotel Group)

Lodging revenues increased 6% to $152 million for the fourth quarter of 2006 compared to $144 million for the fourth quarter of 2005. EBITDA for the fourth quarter of 2006 was $47 million. Adjusted EBITDA for the fourth quarter of 2006 increased 7% to $48 million (excluding separation and related costs of $1 million) compared to EBITDA for the prior year period of $45 million.

EBITDA for the fourth quarter of 2006 includes incremental marketing expense of approximately $3 million associated with increasing Wyndham brand recognition.

RevPAR for the fourth quarter of 2006 increased 7% from the fourth quarter of 2005, excluding Wyndham and Baymont. Including these brands, fourth quarter 2006 RevPAR was $31.41, a 6% increase from the comparable prior year period.

At December 31, 2006, the Wyndham Hotel Group system consisted of nearly 6,500 properties with over 543,000 rooms, an increase of approximately 10,000 net rooms from the third quarter of 2006. The Company's hotel development pipeline as of December 31, 2006 included approximately 845 hotels and approximately 92,000 rooms, of which approximately 15% are international and approximately 45% are new construction.

Vacation Exchange and Rentals (RCI Global Vacation Network)

Vacation Exchange and Rentals revenues increased 13% to $266 million in the fourth quarter of 2006 from $235 million in the fourth quarter of 2005, reflecting continued momentum in transaction volume, pricing and members.

Vacation exchange revenues were $110 million, an 8% increase compared to the fourth quarter of 2005. The average number of members as well as the annual dues and exchange revenue per member increased 5% and 3%, respectively, from the fourth quarter of 2005, reflecting new members, higher transaction volume and price increases implemented in the third quarter of 2006.

Vacation rentals revenues were $105 million, a 16% increase compared to the fourth quarter of 2005, supported by improved inventory offerings, enhanced marketing and local economic conditions. Vacation rental transactions and average net price per vacation rentals increased 6% and 9%, respectively, from the fourth quarter of 2005.

Other ancillary revenues generated primarily from additional products and services provided to affiliates and members were $51 million in the fourth quarter of 2006.

Vacation Exchange and Rentals EBITDA grew to $59 million for the fourth quarter of 2006, a 28% increase compared to $46 million in the fourth quarter of 2005 which reflected a $14 million restructuring charge taken to combine our vacation exchange and vacation rentals operations. Absent that charge, EBITDA was relatively flat due to continued investment during 2006 in new offerings to leverage our leading position in the growing leisure travel industry worldwide.

Vacation Ownership (Wyndham Vacation Ownership)

Gross Vacation Ownership Interest sales were $469 million for the fourth quarter of 2006, up more than 30% compared to the fourth quarter of 2005, driven by a 17% growth in tour flow and an 8% increase in volume per guest. The strong tour flow growth was the result of ongoing development of in-house sales programs, enhancements to local marketing efforts and continued industry demand.

Vacation Ownership fourth quarter 2006 revenues were $554 million and EBITDA was $89 million, including separation and related costs of $15 million. Excluding separation and related costs, Adjusted EBITDA for the fourth quarter of 2006 rose 18% compared to EBITDA for the fourth quarter of 2005 of $88 million. These 2006 results reflect the adoption of SFAS No. 152, "Accounting for Real Estate Time-Sharing Transactions," which reduced comparative quarterly revenue by $63 million and increased EBITDA by $5 million.

Wyndham Vacation Ownership active development pipeline consists of approximately 3,900 units in 15 U.S. states, the Virgin Islands and 3 foreign countries. The Company expects the pipeline to support both new purchases of vacation ownership and upgrade sales to existing owners.

Full Year 2006 Operating Results

Revenues for full year 2006 were $3,842 million, up 11% compared to full year 2005, reflecting strong growth across all the businesses. Full year 2006 Adjusted EBITDA was $762 million, excluding separation and related costs and the net benefit from the resolution of certain contingent liabilities, but including pro forma incremental stand-alone corporate costs, a 9% increase over 2005 Adjusted EBITDA of $699 million. Full year EBITDA was $725 million compared to $751 million in the prior year period including separation and related costs and the net benefit from the resolution of certain contingent liabilities in 2006 and excluding pro forma incremental stand-alone corporate costs for both periods.

Adjusted net income for full year 2006 was $339 million, excluding the cumulative effect of SFAS No. 152, separation and related costs and the net benefit from the resolution of certain contingent liabilities, but including pro forma incremental stand-alone corporate costs. Income before the cumulative effect of SFAS No. 152 for full year 2006 was $352 million, compared to $431 million for full year 2005. Net income for 2005 excludes stand-alone corporate costs and interest expense associated with corporate debt since Wyndham Worldwide was a subsidiary of Cendant for all of 2005.

    Full year 2006 highlights include:

    * Lodging revenues grew by 24%
    * Franchise fees grew 15%
    * RevPAR grew nearly 13%
    * Vacation exchange and rentals revenues were up 5%
    * Gross Vacation Ownership Interest Sales grew more than 25%

Holmes continued: "2006 was a landmark year for Wyndham Worldwide. We exceeded our initial revenue guidance and hit our Adjusted EBITDA guidance, despite taking the previously reported second quarter 2006 $21 million tax accrual; excluding the accrual, we would have exceeded our Adjusted EBITDA guidance. These results would be commendable in any year, but are extraordinary in light of our corporate and operating initiatives this year: our transformation into an independent, publicly traded company, the integration of two hotel companies, and the re-branding of our vacation ownership business to Wyndham."

Balance Sheet

The Company provided the following balance sheet data as of December 31, 2006:

    * Cash and cash equivalents of approximately $270 million compared to $99
      million at December 31, 2005
    * Vacation ownership contract receivables, net, of $2.4 billion compared
      to $2.1 billion at December 31, 2005
    * Vacation ownership inventory of approximately $955 million, including
      approximately $170 million related to the effect of SFAS No. 152.
      Excluding the effect of SFAS No. 152, inventory was approximately $785
      million compared to $636 million at December 31, 2005
    * Securitized vacation ownership debt of $1.5 billion and other debt of
      $1.4 billion as of December 31, 2006

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

    Outlook
    Wyndham Worldwide reiterates the following full year 2007 guidance:

    * Revenue of $4,110 - $4,260 million
    * Adjusted EBITDA of $820 - $855 million, excluding separation and related
      costs of $10 - $20 million ($6 - $12 million, after-tax), as well as
      legacy matters
    * Full year depreciation and amortization expense of $160 - $170 million
    * Interest expense of $75 - $85 million
    * Provision for income taxes of $215 - $236 million
    * Adjusted net income of $350 - $385 million

    New company guidance for 2007:

    * Full year Adjusted EPS increased from $1.77 - $1.95 to $1.84 - $2.02,
      excluding separation and related costs, as well as legacy matters, based
      on a diluted share count of approximately 190 million at December 31,
      2006 (prior share count guidance was 198 million)
    * First quarter Adjusted EPS of $0.37 - $0.40, excluding separation and
      related costs, as well as legacy matters

    Share Repurchase

On August 24, 2006, Wyndham Worldwide announced the launch of a stock repurchase program of up to $400 million. Through December 31, 2006, the Company had repurchased 11.9 million shares at an average price of $29.35. During January 2007, the Company repurchased an additional 1.6 million shares, completing the program with 13.5 million shares purchased at an average price of $29.72.

Wyndham Worldwide today announced that its Board of Directors has authorized a new stock repurchase program that enables the Company to purchase up to $400 million of its common stock. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.

"We believe our stock is a terrific value and that a repurchase program is an effective way to enhance shareholder value," added Holmes. "2006 was a banner year and we look forward to continued growth in 2007: growth in our global presence, expansion of our Wyndham brand across our hotels and vacation ownership resorts and growth in consumer preference for our brands. We are well-positioned to benefit from many consumer trends through our global reach, familiar brands and unparalleled scale. I am pleased with what we've accomplished, but, more importantly, with what we see in the future for Wyndham Worldwide."

Wyndham Worldwide Corporation will provide a webcast of its conference call to discuss the Company's fourth-quarter and full year 2006 financial results on Tuesday, February 13 at 9 a.m. EST. Listeners may access the webcast live through the Company's Web site at http://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 13. The conference call also may be accessed by dialing (517) 308- 9029 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) 369-0940 beginning at noon EST on February 13 until 5 p.m. EST on February 18.

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 almost 6,500 franchised hotels and over 543,000 hotel rooms worldwide. RCI Global Vacation Network offers its more than 3.4 million members access to over 60,000 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 150 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 30,000 employees globally.

For more information about Wyndham Worldwide, please visit the company's web site at http://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, the number of hotels and resorts the Company intends to add in future periods, debt levels, rebranding initiatives and share repurchases.

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 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 specified in the Company's Quarterly Report on Form 10-Q, filed August 18, 2006 under the heading "Risk Factors." 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 revenue and "EBITDA," which
    is defined as net income before depreciation and amortization, interest
    expense (excluding interest on securitized vacation ownership debt) and
    income taxes, 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 revenues and EBITDA for reportable
    segments, as well as reconcile EBITDA to net income for the three month
    and twelve month periods ended December 31, 2006 and 2005:


                                            Three Months Ended December 31,
                                          -----------------------------------
                                                2006               2005
                                          -----------------  ----------------
                                          Revenues EBITDA(a) Revenues  EBITDA
                                          -------- ------    --------  ------
    Lodging                                 $152     $47       $144     $45
    Vacation Exchange and Rentals            266      59        235      46
    Vacation Ownership                       554      89        481      88
                                          -------  ------    --------  -----
         Total Reportable Segments           972     195        860     179
    Corporate and Other (*)                   (2)      6          1      (2)
                                          -------  ------    --------  -----
         Total Company                      $970    $201       $861    $177
                                          =======  ======    ========  =====

    Reconciliation of EBITDA to Net
     Income
    -------------------------------

    EBITDA                                          $201               $177
    Depreciation and amortization                     41                 33
    Interest expense (income), net                    14                 (8)
                                                   ------              -----
    Income before income taxes                       146                152
    Provision for income taxes                        54                 61
                                                   ------              -----
    Net income                                       $92                $91
                                                   ======              =====


                                          Twelve Months Ended December 31,
                                          -----------------------------------
                                               2006               2005
                                          ---------------    ----------------
                                          Revenues EBITDA(b) Revenues EBITDA
                                          -------- ------    -------- -------
    Lodging                                  $661   $208        $533   $197
    Vacation Exchange and Rentals           1,119    265       1,068    284
    Vacation Ownership                      2,068    325       1,874    283
                                          -------- ------    -------- -------
         Total Reportable Segments          3,848    798       3,475    764
    Corporate and Other (*)                    (6)   (73)         (4)   (13)
                                          -------- ------    -------- -------
         Total Company                     $3,842   $725      $3,471   $751
                                          ======== ======    ======== =======
    Reconciliation of EBITDA to Net
     Income
    -------------------------------

    EBITDA                                          $725               $751
    Depreciation and amortization                    148                131
    Interest expense (income), net                    35                 (6)
                                                   ------             -------
    Income before income taxes                       542                626
    Provision for income taxes                       190                195
                                                   ------             -------
    Income before cumulative effect of
     accounting change                               352                431
    Cumulative effect of accounting
     change, net of tax                              (65)                 -
                                                   ------             -------
    Net income                                      $287               $431
                                                   ======             =======

    ---------------
    (*)Includes the elimination of transactions between segments; excludes
       incremental stand alone company costs for 2005 and through July 31,
       2006.
    (a)Includes separation and related costs of $1 million, $15 million and
       $7 million for Lodging, Vacation Ownership and Corporate and Other,
       respectively.
    (b)Includes separation and related costs of $2 million, $3 million, $18
       million and $76 million for Lodging, Vacation Exchange and Rentals,
       Vacation Ownership and Corporate and Other, respectively.


                                                                       Table 2

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

                                             Three Months    Twelve Months
                                                Ended            Ended
                                             December 31,     December 31,
                                            --------------  ---------------
                                             2006    2005    2006     2005
                                            ------  ------  ------   ------
    Revenues
       Vacation ownership interest sales    $379    $358   $1,461   $1,379
       Service fees and membership           348     305    1,437    1,288
       Franchise fees                        112     105      501      434
       Consumer financing                     79      64      291      234
       Other                                  52      29      152      136
                                            ------  ------  ------   ------
    Net revenues                             970     861    3,842    3,471
                                            ------  ------  ------   ------

    Expenses
       Operating                             391     320    1,474    1,199
       Cost of vacation ownership
        interests                             78      90      317      341
       Marketing and reservation             168     142      734      628
       General and administrative (a)        109     101      493      424
       Provision for loan losses               -      31        -      128
       Separation and related costs (b)       23       -       99        -
       Depreciation and amortization          41      33      148      131
                                            ------  ------  ------   ------
    Total expenses                           810     717    3,265    2,851
                                            ------  ------  ------   ------

    Operating income                         160     144      577      620
    Interest expense (income), net            14      (8)      35       (6)
                                            ------  ------  ------   ------

    Income before income taxes               146     152      542      626
    Provision for income taxes                54      61      190      195
                                            ------  ------  ------   ------

    Income before cumulative effect of
     accounting change                        92      91      352      431
    Cumulative effect of accounting
     change, net of tax (c)                    -       -      (65)       -
                                            ------  ------  ------   ------

    Net income                               $92     $91     $287     $431
                                            ======  ======  ======   ======

    Earnings per share
       Basic
       Income before cumulative effect of
        accounting change                  $0.48   $0.45    $1.78    $2.15
       Cumulative effect of accounting
        change                                 -       -    (0.33)       -
                                            ------  ------  ------   ------

       Net income                          $0.48   $0.45    $1.45    $2.15
                                            ======  ======  ======   ======

       Diluted
       Income before cumulative effect of
        accounting change                  $0.48   $0.45    $1.77    $2.15
       Cumulative effect of accounting
        change                                 -       -    (0.33)       -
                                            ------  ------  ------   ------
       Net income                          $0.48   $0.45    $1.44    $2.15
                                            ======  ======  ======   ======

    Weighted average shares outstanding
       Basic                                 193     200      198      200
       Diluted                               194     200      199      200


    ---------------
    (a)Includes $32 million related to the net benefit from the resolution of
       certain contingent liabilities during the three and twelve months ended
       December 31, 2006.
    (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 and $69 million during the three and twelve months ended
       December 31, 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

                         Wyndham Worldwide Corporation
                              OPERATING STATISTICS

                     Year       Q1       Q2       Q3       Q4   Full Year
    Lodging(a)
    Weighted Average
     Rooms Available 2006  520,600  531,000  529,200  529,900(b)  527,700(b)
                     2005  517,400  512,000  511,500  535,100     519,000
                     2004  512,000  510,700  507,300  503,000     508,200
                     2003  532,900  525,600  522,400  518,200     524,700

    Number of
     Properties      2006    6,300    6,440    6,420    6,470(b)      N/A
                     2005    6,400    6,380    6,350    6,350         N/A
                     2004    6,380    6,390    6,350    6,400         N/A
                     2003    6,500    6,480    6,430    6,400         N/A

    RevPAR           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
                     2003   $22.05   $27.50   $31.38   $22.71      $25.92

    Royalty,
     Marketing and
     Reservation
     Revenue (in
     000s)           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
                     2003  $76,048  $95,280 $108,828  $77,277    $357,432

    Vacation
     Exchange and
     Rentals
    Average Number
     of Members
     (in 000s)       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
                     2003    2,929    2,925    2,954    2,982       2,948

    Annual Dues
     and Exchange
     Revenue Per
     Member          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
                     2003  $145.99  $129.37  $128.99  $120.37     $131.13

    Vacation Rental
     Transactions
     (in 000s)       2006      385      310      356      293       1,344
                     2005      367      311      344      278       1,300
                     2004      309      246      295      253       1,104
                     2003      290      192      206      194         882

    Average Net
     Price Per
     Vacation
     Rental          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
                     2003  $233.49  $255.62  $247.46  $265.72     $248.65

    Vacation
     Ownership
    Gross Vacation
     Ownership
     Interest Sales
     (in 000s)       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
                     2003 $224,000 $302,000 $330,000 $290,000  $1,146,000

    Tours            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
                     2003  196,000  253,000  275,000  200,000     925,000

    Volume per
     Guest (VPG)     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
                     2003   $1,067   $1,082   $1,127   $1,293      $1,138

    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)Amounts include managed hotels - non-proprietary brands rooms and
       properties.



                        Wyndham Worldwide Corporation
                             OPERATING STATISTICS

                              GLOSSARY OF TERMS

    Lodging

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

Number of Properties: Represents the number of lodging properties operated under franchise and management agreements at the end of the period.

RevPAR: Represents revenue per available room and is calculated by multiplying the percentage of available rooms occupied for the period by the average rate charged for renting a lodging room for one day.

Royalty, Marketing and Reservation Revenue: Royalty, marketing and reservation revenue are typically based on a percentage of the gross room revenues of each franchise. Royalty revenue is generally a fee charged to each franchise for the use of one of our trade names, while marketing and reservation revenue are fees that we collect and are contractually obligated to spend to support marketing and reservation activities.

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 rental 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 is 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 is a component of upgrade sales, by the number of tours.



                                                                       Table 4

                          Wyndham Worldwide Corporation
                                 SCHEDULE OF DEBT
                                  (In millions)

                                   December  September  June   March  December
                                      31,        30,     30,     31,     31,
                                     2006       2006    2006    2006    2005

    Securitized vacation ownership
     debt
    Term notes                       $838       $967    $575    $656    $740
    Bank conduit facility (a)         625        371     653     511     395
    Securitized vacation ownership
     debt (b)                       1,463      1,338   1,228   1,167   1,135
    Less: Current portion of
     securitized vacation
     ownership debt                   178        213     210     184     154
    Long-term securitized vacation
     ownership debt                $1,285     $1,125  $1,018    $983    $981

    Debt:
    6.00% Senior unsecured notes
     (due December 2016)(c)          $796         $-      $-      $-      $-
    Revolving credit facility (due
     July 2011)(d)                      -        150       -       -       -
    Interim loan facility (due July
     2007)                              -        350       -       -       -
    Term loan (due July 2011)         300        300       -       -       -
    Vacation ownership asset-
     linked facility(e)                 -          -     600     575     550
    Bank borrowings:
    Vacation ownership                103        113     111     104     113
    Vacation rental                    73         70      70      66      68
    Vacation rental capital leases    148        144     145     141     139
    Other                              17         37      35      35      37

    Total debt                      1,437      1,164     961     921     907
    Less: Current portion of debt     115        143     207     196     201
    Long-term debt                 $1,322     $1,021    $754    $725    $706

    (a)This 364-day vacation ownership bank conduit facility was renewed and
       upsized to $1,000 million on November 13, 2006.  The borrowings under
       this facility have a maturity date of December 2009.
    (b)This debt is collateralized by $1,844 million, $1,718 million, $1,624
       million, $1,556 million and $1,515 million of underlying vacation
       ownership contract receivables and related assets at December 31, 2006,
       September 30, 2006, June 30, 2006, March 31, 2006 and December 31,
       2005, respectively.
    (c)These notes represent $800 million aggregate principal less $4 million
       of original issue discount.
    (d)The Company's revolving credit facility has a borrowing capacity of
       $900 million.  At December 31, 2006, the Company has $30 million of
       outstanding letters of credit and a remaining borrowing capacity of
       $870 million.
    (e)The Company provided $600 million to its former parent, Cendant (now
       Avis Budget Group, Inc.) to repay this facility in July 2006.



                                                                       Table 5

                          Wyndham Worldwide Corporation
                           HOTEL BRAND SYSTEMS DETAILS

                                           December 31, 2006
                                                                      Average
                                                                      Revenue
                                                            Average     Per
                                                   Average   Daily   Available
                            Number of  Number 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 (a)                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

    Managed Hotels - Non-
     Proprietary Brands (b)     17        4,993      N/A        N/A       N/A

       Total                 6,473      543,234     53.4%    $65.44    $34.95



                                            December 31, 2005
                                                                      Average
                                                                      Revenue
                                                            Average     Per
                                                   Average   Daily   Available
                            Number of  Number of  Occupancy  Rate       Room
        Brand               Properties   Rooms       Rate    (ADR)    (RevPAR)

    Wyndham Hotels
     and Resorts (a)           101       29,651     62.1%   $102.46    $63.66

    Wingate Inn                146       13,573     63.9%    $78.33    $50.08

    Ramada                     916      108,937     53.4%    $66.61    $35.60

    AmeriHost Inn              114        8,194     56.4%    $60.69    $34.24

    Days Inn                 1,844      150,302     50.2%    $57.65    $28.96

    Super 8                  2,040      124,031     53.7%    $53.36    $28.65

    Howard Johnson             458       43,430     48.4%    $60.12    $29.10

    Travelodge                 513       38,410     48.9%    $57.44    $28.09

    Knights Inn                216       16,141     42.2%    $38.34    $16.19

       Total                 6,348      532,669     51.9%    $59.78    $31.00

    (a)Average Occupancy Rate, ADR and RevPAR include the impact of the
       acquisitions of Baymont Inn & Suites (April 2006) and Wyndham Hotel and
       Resorts (October 2005) from their acquisition dates forward.
    (b)Thirteen of these properties are scheduled to be branded as either
       Wyndham or Ramada during 2007.



                                                                       Table 6
                                                                      (1 of 2)
                          Wyndham Worldwide Corporation
                             NON-GAAP RECONCILIATION
                       (In millions, except per share data)

                                                                       Year
                                         Three Months Ended            Ended
                                  March   June  September  December  December
                                    31,    30,      30,       31,       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)                       $2   $(11)    $(12)     $(14)     $(35)
       Incremental stand-alone
        costs(b)                    (12)   (12)      (4)        -       (28)

    Adjusted Interest Expense      $(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 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 EPS                  $0.39  $0.31    $0.56     $0.44     $1.70

    Diluted Shares(g)               200    200      203       194       199

    Note: EPS amounts may not foot down or across due to rounding.
    (a)Represents the costs incurred in connection with the Company's
       separation from Cendant (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 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 refinements in the
       Company's 2005 state effective tax rates.
    (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)For all periods prior to our separation date (July 31, 2006), the
       Company assumed one share of Wyndham common stock outstanding for every
       five shares of Cendant common stock outstanding as of July 21, 2006,
       the record date for the distribution of Wyndham common stock.



                                                                       Table 6
                                                                      (2 of 2)

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

                                                                       Year
                                         Three Months Ended            Ended
                                  March   June  September  December  December
                                    31,    30,      30,       31,       31,
                                   2005   2005     2005      2005      2005

    Reported EBITDA                $159   $182     $233      $177      $751
        Incremental stand-
         alone costs(a)             (13)   (13)     (13)      (13)      (52)

    Adjusted EBITDA                $146   $169     $220      $164      $699

    Reported Depreciation and
     Amortization                  $(32)  $(33)    $(33)     $(33)    $(131)
        Incremental stand-
         alone costs(a)              (1)    (1)      (1)       (1)       (4)

    Adjusted Depreciation and
     Amortization                  $(33)  $(34)    $(34)     $(34)    $(135)

    Reported Interest Income/
     (Expense)                      $(2)   $(1)      $1        $8        $6
        Incremental stand-alone
         costs(a)                   (12)   (12)     (12)      (11)      (47)

    Adjusted Interest Expense      $(14)  $(13)    $(11)      $(3)     $(41)

    Reported PreTax Income         $125   $148     $201      $152      $626
        Incremental stand-
         alone costs(a)             (26)   (26)     (26)      (25)     (103)

    Adjusted PreTax Income          $99   $122     $175      $127      $523

    Reported Tax (Provision)/
     Benefit                         $5   $(59)    $(80)     $(61)    $(195)
        Incremental stand-
         alone costs(b)              10     10       10        10        40

    Adjusted Tax (Provision)/
     Benefit                        $15   $(49)    $(70)     $(51)    $(155)

    Reported Net Income            $130    $89     $121       $91      $431
        Incremental stand-
         alone costs                (16)   (16)     (16)      (15)      (63)

    Adjusted Net Income            $114    $73     $105       $76      $368

    Reported EPS                  $0.65  $0.44    $0.60     $0.45     $2.15
        Incremental stand-
         alone costs              (0.08) (0.08)   (0.08)    (0.07)    (0.31)

    Adjusted EPS                  $0.57  $0.36    $0.52     $0.38     $1.84

    Diluted Shares (c)              200    200      200       200       200

    Note: EPS amounts may not foot across due to rounding.
    (a) 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.
    (b) Relates to the tax effect of the adjustments.
    (c) For all periods prior to our separation date (July 31, 2006), the
        Company assumed one share of Wyndham common stock outstanding for
        every five shares of Cendant common stock outstanding as of July 21,
        2006, the record date for the distribution of Wyndham common stock.


                                                                      Table 7
                                                                      (1 of 5)
                          Wyndham Worldwide Corporation
                         NON-GAAP FINANCIAL INFORMATION
                      (In millions, except per share data)

                                      Three Months Ended March 31, 2006


                                                Legacy
                                 Separation      and     Stand-Alone
                         As     and Related     Other      Company       As
                      Reported  Adjustments  Adjustments Adjustments  Adjusted
    Revenues
      Vacation
       ownership
       interest
       sales            $309                                            $309
      Service fees
       and membership    356                                             356
      Franchise fees     109                                             109
      Consumer
       financing          65                                              65
      Other               31                                              31
    Net revenues         870           -            -          -         870

    Expenses
      Operating          332                                             332
      Cost of vacation
       ownership
       interests          67                                              67
      Marketing and
       reservation       174                                             174
      General and
       administrative    112                                  13(b)      125
      Separation and
       related costs       3          (3)(a)                               -
      Depreciation and
       amortization       34                                   1(b)       35
    Total expenses       722          (3)           -         14         733

    Operating income     148           3            -        (14)        137

    Interest expense
     (income), net        (2)          -            -         12(b)       10

    Income before
     income taxes        150           3            -        (26)        127
    Provision for
     income taxes         57           2(c)         -        (10)(c)      49

    Income before
     cumulative
     effect of
     accounting change    93           1            -        (16)         78
    Cumulative effect
     of accounting
     change, net of
     tax                 (65)          -           65(d)       -           -

    Net income           $28          $1          $65       $(16)        $78

    Earnings per share
      Basic
      Income before
       cumulative
       effect of
       accounting
       change          $0.46          $-           $-     $(0.08)      $0.39
      Cumulative
       effect of
       accounting
       change          (0.32)          -         0.32          -           -
      Net income       $0.14          $-        $0.32     $(0.08)      $0.39

      Diluted
      Income before
       cumulative
       effect of
       accounting
       change          $0.46          $-           $-     $(0.08)      $0.39
      Cumulative
       effect of
       accounting
       change          (0.32)          -         0.32          -           -
      Net income       $0.14          $-        $0.32     $(0.08)      $0.39

    Weighted average
     shares
     outstanding
      Basic              200         200          200        200         200
      Diluted            200         200          200        200         200

    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)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.
    (c)Relates to the tax effect of the adjustments.
    (d)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 7
                                                                      (2 of 5)
                          Wyndham Worldwide Corporation
                          NON-GAAP FINANCIAL INFORMATION
                       (In millions, except per share data)

                                      Three Months Ended June 30, 2006

                                            Separation
                                                and      Stand-Alone
                                     As       Related      Company       As
                                  Reported  Adjustments  Adjustments  Adjusted
    Revenues
      Vacation ownership
       interest sales               $377                                $377
      Service fees and
       membership                    341                                 341
      Franchise fees                 134                                 134
      Consumer financing              70                                  70
      Other                           33                                  33
    Net revenues                     955          -             -        955

    Expenses
      Operating                      369                                 369
      Cost of vacation ownership
       interests                      80                                  80
      Marketing and reservation      194                                 194
      General and administrative     141                       13(b)     154
      Separation and related
       costs                           5         (5)(a)                    -
      Depreciation and
       amortization                   36                        1(b)      37
    Total expenses                   825         (5)           14        834

    Operating income                 130          5           (14)       121
    Interest expense, net             11          -            12(b)      23

    Income before income taxes       119          5           (26)        98
    Provision for income taxes        44          2(c)        (10)(c)     36

    Net income                       $75         $3          $(16)       $62

    Earnings per share
      Basic                        $0.37      $0.01        $(0.08)     $0.31
      Diluted                      $0.37      $0.01        $(0.08)     $0.31

    Weighted average shares
     outstanding
      Basic                          200        200           200        200
      Diluted                        200        200           200        200

    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)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.
    (c)Relates to the tax effect of the adjustments.



                                                                       Table 7
                                                                      (3 of 5)

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

                                       Three Months Ended September 30, 2006

                                            Separation
                                                and      Stand-Alone
                                     As       Related      Company       As
                                  Reported  Adjustments  Adjustments  Adjusted
    Revenues
      Vacation ownership interest
       sales                        $396                                $396
      Service fees and membership    392                                 392
      Franchise fees                 146                                 146
      Consumer financing              77                                  77
      Other                           36                                  36
    Net revenues                   1,047          -            -       1,047

    Expenses
      Operating                      382                                 382
      Cost of vacation ownership
       interests                      92                                  92
      Marketing and reservation      198                                 198
      General and administrative     131                       4(b)      135
      Separation and related costs    68        (68)(a)                    -
      Depreciation and amortization   37                                  37
    Total expenses                   908        (68)           4         844

    Operating income                 139         68           (4)        203
    Interest expense, net             12          -            4(b)       16

    Income before income taxes       127         68           (8)        187
    Provision for income taxes        35         25(c)        12(c)       72

    Net income                       $92        $43         $(20)       $115

    Earnings per share
      Basic                        $0.46      $0.22       $(0.10)      $0.58
      Diluted                      $0.45      $0.21       $(0.10)      $0.56

    Weighted average shares
     outstanding
      Basic                          200        200          200         200
      Diluted                        203        203          203         203

    Note: EPS amounts may not foot across due to rounding.
    (a)Represents the costs incurred in connection with the Company's
       separation from Cendant (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 and interest expense associated with corporate debt that the
       Company would have incurred if it was a separate stand-alone company.
    (c)Relates to the tax effect of the adjustments and a $15 million benefit
       relating to refinements in the Company's 2005 state effective tax
       rates.


                                                                       Table 7
                                                                      (4 of 5)

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

                                        Three Months Ended December 31, 2006

                                            Separation
                                                and      Legacy and
                                     As       Related       Other        As
                                  Reported  Adjustments  Adjustments  Adjusted
    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, net             14          -            -          14

    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.
    (b)Relates to the net benefit from the resolution of certain contingent
       liabilities.
    (c)Relates to the tax effect of the adjustments.



                                                                    Table 7
                                                                   (5 of 5)

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

                                Twelve Months Ended December 31, 2006

                                                Legacy
                                 Separation      and     Stand-Alone
                         As     and Related     Other      Company       As
                      Reported  Adjustments  Adjustments Adjustments  Adjusted
    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,
     net                   35         -            -          28(c)        63

    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,
     net of tax           (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 (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.
    (d)Relates to the tax effect of the adjustments and a $15 million benefit
       relating to refinements 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-                             02/13/2007
    /CONTACT: Investors: Margo C. Happer, Senior Vice President, Investor
Relations, +1-973-753-6472, Margo.Happer@wyndhamworldwide.com, Press: Betsy
O'Rourke, Senior Vice President, Marketing and Communications, +1-973-753-
7422, Betsy.O'Rourke@wyndhamworldwide.com, both of Wyndham Worldwide
Corporation/
    /Web site:  http://www.wyndhamworldwide.com /
    (WYN)

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

JB
-- NYTU034 --
6144 02/13/2007 07:10 EST http://www.prnewswire.com