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 Trendwest Resorts Building $56 million
Vacation Ownership Resort in Indio, California
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REDMOND, Wash. - Feb. 9, 2004 – Trendwest Resorts, the West Coast’s leading vacation ownership company, yesterday unveiled plans to develop a new luxury vacation ownership resort in Indio, California. The Mediterranean-style WorldMark Indio resort, scheduled to begin construction in Spring 2004, is located in the rapidly growing Shadow Hills area on 27.3 acres bordered by the Landmark golf course. 

According to Indio Mayor Jacqueline Bethel, “The City of Indio and our community stakeholders are eager to broaden the appeal of the Landmark golf experience in Shadow Hills and create a first-rate family friendly destination that incorporates the exciting new WorldMark resort.”

The 454-condominium resort will include studio, one-, two-, and three-bedroom floor plans, as well as luxury penthouse suites.  Each condominium will be a self-contained vacation home with a complete kitchen, spacious living areas, air conditioning, washer/dryer, gas fireplace, television, DVD player, compact disc stereo system, complimentary Internet connection and furnished private veranda. 

The resort’s desert oasis courtyard amenities will include three manmade lakes, two swimming pools, two children’s wading pools, one “lazy river” pool, five courtyard spas and a children’s interactive pool.  In addition, the resort will also include two tennis courts, two sport courts, an exercise room, multipurpose game room, lounge, media room, boutique and business center.  The $56 million first phase of the WorldMark Indio resort is scheduled to open in Summer 2005.

“Trendwest is excited to bring a new world-class vacation ownership resort to the Coachella Valley, one of California’s most popular travel destinations,” stated Donald Harrill, Trendwest president and chief executive officer.  “WorldMark Indio will be an alluring vacation option for our nearly 200,000 owner families across the country, especially for those who live within driving distance.  The Valley’s broad appeal makes the area desirable for both extended vacations and shorter getaways.”

Trendwest’s development is expected to have an immediate positive impact on the local economy by providing employment opportunities throughout the resort’s construction.  During the construction of the first phase alone, it is estimated that the project will generate nearly $13 million in payroll and an average of 310 construction jobs.  Trendwest has partnered with local development company, Western Pacific Resort Development, which will hire local contractors and workers wherever possible. 

When complete, Trendwest projects that the WorldMark Indio resort will welcome more than 141,000 new visitors each year to the Coachella Valley who will spend nearly $21 million annually in the local area while on vacation.  In addition, the resort will provide 200 full-time equivalent hospitality jobs and boost the local tax base with an estimated $1.5 million room tax contribution each year.

Trendwest Resorts, one of the world’s leading vacation ownership companies, offers a network of drive-to resorts with a flexible, point-based system of ownership.  Trendwest currently operates 54 WorldMark resorts in the western United States, British Columbia, Mexico and the South Pacific. Trendwest is a subsidiary of Cendant Corporation (NYSE: CD), a global real estate and travel services provider. 

Contact:
Sonia Tolbert
Trendwest Resorts
425.498.2687
www.trendwest.com

Ken Weller
City of Indio
760.342.6500

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Also See: Trendwest Opening the $73.3 million Resort at Seaside in Oregon / July 2003
Cendant to Acquire Trendwest Resorts for Approximately $927.4 million in Stock / April 2002


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