2007 3rd Qrt Results
Vacation Ownership continued to post strong results for the third
quarter of
2007, with revenues and gross vacation ownership sales
increasing 22% and
15%, respectively, compared to the third quarter of
2006
Revenues
increased 22% to $671 million in the third quarter of 2007 compared with the
third quarter of 2006 reflecting continued success in marketing and
sales.
Gross Vacation Ownership Interest sales were $552 million for the
third quarter of 2007, up 15% compared to the third quarter of 2006, driven by
marketing efforts resulting in 6% growth in tour flow and an 8% increase in
volume per guest from strong performance by our sales force and continued
strength in transaction pricing. Results continue to reflect the strength of our
marketing, sales and new locations added in the second half of
2006.
Consumer finance revenues increased 21% for the third quarter of
2007 compared to the third quarter of 2006 reflecting continued Vacation
Ownership sales growth.
RCI Group wrote:-- Average number of vacation exchange members
increased 5% in the third
quarter of 2007 compared to the third quarter of
2006
Vacation exchange revenues were $116 million, a 4% increase compared
to the third quarter of 2006, primarily driven by a 5% increase in the average
number of members.
-- Average net price per vacation rental increased
14% in the third
quarter of 2007 compared to the third quarter of 2006, or 7%
excluding
the favorable effect of currency translations
Vacation
rentals revenues were $182 million, up 16% compared to the third quarter of
2006, or up 8% excluding the favorable effect of currency translations. These
results reflected a 14% increase in the average net price per vacation rental
and a 1% increase in rental transactions.
Other ancillary revenues
generated primarily from additional products and services provided to affiliates
and members were $38 million in the third quarter of 2007 compared with $40
million in the third quarter of 2006.
