|July 2003 - With some Oregon school districts
cutting their school year short for lack of funds, and state unemployment
in excess of eight percent, one of the promising spots in the region's
economy is a new $73.3 million oceanfront condominium resort in Seaside.
The Resort at Seaside, which is celebrating its grand opening on July 19th,
is the newest destination for Trendwest Resorts, the world's leading point-based
vacation ownership company.
"We have seen many cities benefit economically from the increase in tourism generated by our resorts," said William F. Peare, Trendwest Resorts chairman. "Our Resort at Seaside will provide a total of 120 full-time jobs with an annual payroll of $2 million. We also expect that each year 124,000 guests will spend another $14 million while visiting Seaside."
Ken Meisner, Seaside Chamber of Commerce executive director, said, "Much of our area business is seasonal, so Trendwest Resorts' estimated year-round occupancy of 70 percent or greater will provide a much needed boost for our area businesses."
Trendwest Resorts established an Oregon presence in 1989 with vacation condominiums at Otter Crest and Eagle Crest. Since then, Trendwest has added destinations in Depoe Bay, Gleneden Beach, Klamath Falls, Newport and now Seaside. The company currently employs 360 people in the state with a $6.4 million annual payroll. During 2003, the more than 217,000 guests visiting the company's Oregon resorts will spend more than $32 million while on vacation.
The new eight-story structure, located just steps from the westernmost point reached by the Lewis and Clark expedition in 1805, has a commanding view of the ocean and features 283 one-, two-, and three-bedroom ocean view vacation condominiums. Each condominium is comfortably appointed with spacious living areas, fully equipped kitchen, private deck with barbecue, gas fireplace, washer and dryer, television, DVD player, and compact disc stereo.
Trendwest Resorts, headquartered in Redmond, Washington, is a leader in the vacation ownership industry, offering a network of drive-to resorts with a unique, flexible point-based system of ownership. Trendwest currently operates 48 WorldMark resorts in the United States, British Columbia, Mexico and Fiji. Seaside will be the 49th. Trendwest is a subsidiary of Cendant Corporation , a provider of services primarily in travel and real estate.
Bill Endicott, +1-425-218-2391
Sonia Tolbert, +1-425-498-2687
|Also See:||Trendwest Acquires Depoe Bay (Oregon) Resort and Closes On a New Receivables Finance Facility / April 1999|
|Cendant to Acquire Trendwest Resorts for Approximately $927.4 million in Stock / April 2002|