Wyndham Worldwide Corp (WYN.N) projects its hotel business will make up a third of earnings before interest, taxes, depreciation and amortization in five to 10 years, Chief Executive Stephen Holmes said on Tuesday.

Wyndham franchises about 7,000 hotels, including Days Inn and Super 8 brands. Holmes described it as a business with a "great margin."

"We'd like to see that business grow," Holmes told reporters at the Reuters Travel and Leisure Summit.

In 2009, lodging was 21 percent of Wyndham's EBITDA.

Wyndham is the No. 2 hotel company in the world as measured by number of rooms, according to Smith Travel Research. The company also has a vacation exchange and rentals business as well as a timeshare business.

Wyndham said in 2008 that it would shrink its timeshare unit, cutting 4,000 jobs in the process. Revenue from this segment accounted for roughly half of its revenue in 2009, and this year timeshare will be a smaller piece, Holmes said.

Growth in the lodging segment could come through adding more hotels to its portfolio or through adding a new brand to its banner. Wyndham has said in recent quarterly calls it is actively looking for brands to add to its portfolio.

Like many of its peers, Wyndham also sees demand for hotels in Europe and Asia growing in coming years.

The number of new hotels in the United States is expected to tick up this year, but that growth is expected to be muted compared to earlier years. However, there is a dearth of hotel rooms in areas that are starting to see bustling travel demand.

Holmes said he sat down with tourism officials in China last year, who said there would be 200 million additional travelers entering the leisure market.

"Two hundred million -- they do not have enough hotel rooms to service that population growth," Holmes said.

India presents an array of challenges, but Holmes sees that country holding tremendous potential for the company.

"The infrastructure in India still has a ways to go, that is the biggest challenge to that market," he said. "We're active in that market and we hope to see growth there."

Total delinquencies in U.S. timeshare asset-backed securities fell in the fourth quarter, marking the first year-on-year improvement since 2007, Fitch Ratings said.

The delinquency rate was 4.89% during the quarter, down from 5.13% a year earlier though still up from 4.64% in the third quarter. Monthly defaults climbed to 0.83% in December from 0.76% in the third quarter, Fitch said.

On an annualized basis, defaults continue to breach historical peaks, reaching 9.44% in December, as U.S. timeshare borrowers--like others--continue to struggle in the current economic environment.

"Delinquency and default levels are still above historical norms and figure to weaken further throughout the rest of the winter," said Fitch director Brad Sohl. "As such, Fitch expects continued declines in asset performance, though ratings should remain stable."

Timeshare is where you buy the right, for at least three years, to spend time in a villa or apartment at specific times in the year. You don't actually own the property itself but just the 'time slot'.

In the UK, the Timeshare Act 1992, as amended by the Timeshare Regulations 1997, gives you a minimum of fourteen days 'cooling off' period to cancel the contract. If you buy a timeshare in the European Economic Area, you have a ten-day cooling off period from the day the contract is signed. You are not required to pay any money during this time, the documents and contract should be in your own language and the contract should include the following:

- The vendors details

- The price

- The location

- Description of the property

- If the property is under construction, a completion date

- How the property is to be managed

- Maintenance and repair of the property

- The provision of services such as water or electricity

- Common facilities

- The consumer's right to cancel and the procedure for cancelling or withdrawing from the contract.

If you decide to cancel the contract, any linked credit agreement is also concealable.

The European Timeshare Directive 94/47/EC protects consumers who enter into a Timeshare contract. The Directive only covers timeshare schemes that are more than three years duration. If any product is offered for less than three years you will not be protected by the legislation.

Our advice is that, if you are interested in timeshare, do your research first and get all the relevant details in writing before committing yourself.

Arcos Gardens Golf Club & Country Estate in Cadiz, Spain, which has recently launched fractional ownership sales of its villas, has affiliated with The Registry Collection exchange programme.

Located among the Andalucian hills adjacent to the white village of Arcos de la Frontera in the province of Cadiz, the Arcos Gardens Golf Club & Country Estate is a 440-acre low-density golf community.

With planning permission for a total of 535 homes, the first three residential phases comprising 80 townhouses and 43 villas have already been completed. Ten of the development’s premium Jacaranda villas will initially be sold on a fractional basis and be affiliated with The Registry Collection.

These four-bedroom villas, which boast 381 square metres of built space and front line golf plots of over 3,000 square metres, will have a starting price of €199,900 for an eighth fractional ownership share of the property allowing for an annual six-week occupation.

“The Registry Collection offers a unique exchange programme for our fractional owners,” said Regan Berger, sales director, Arcos Gardens. “The level of service and exclusivity that The Registry Collection programme provides is precisely what our owners are looking for. We are very pleased to be working with them.”

Other facilities include a club house, day spa and boutique hotel, while an equestrian centre and floodlit tennis and paddle tennis courts are under construction.

“We are very proud to add this calibre of development to The Registry Collection,” said Jonathan Back, managing director, RCI EMEAI. “Our goal is to offer our members the finest vacation destinations in the world. Working with affiliates like Novaterra and Arcos Gardens ensures that our members receive exactly the world-class luxury travel experience they desire. The style, feel, design and location of these properties are in essence what The Registry Collection is all about. The province of Cadiz has long been distinguished as a very special holiday destination by its spectacular landscapes and beaches, historical milestones and a capital city embodying a unique culture, diversity and sophistication that is enduringly attractive to the international traveler.”

www.arcosgardens.com

www.the registrycollection.com

Aspen City Council asked Aspen Club CEO Michael Fox some direct questions Monday night about his proposal for a 104,00-square-foot timeshare development at the club: Are you threatening to shoot the puppy, and are you going to flip and bail?

That exact language was not used, but the point of the questions was clear: Are you threatening to close the Aspen Club if you don’t win approvals, and can you guarantee in writing that you will do what you say if you are given approvals?

The tactic of threatening to “shoot the puppy” is common in Aspen land-use applications. It’s when a developer says something valuable in the community will go away if significant land-use approvals, usually for high-end residential development, are not granted.

During a public hearing Monday, Aspen Mayor Mick Ireland asked Fox directly: “If this is not approved, does the Aspen Club go away?” He said he asked his question because many members of the public who voiced their support of the project seemed to suggest just that.

“What I would say, Mick, the Aspen Club will not go away tomorrow, at some point, though, it probably will disappear,” Fox said.

Acknowledging that his questions were “difficult,” Ireland then asked whether the corporation behind the application has the financial ability to finish the project, if it was willing to commit in writing to spending real estate proceeds on improving the club facility, and whether it was really able to deliver on its promised public benefits.

Those benefits, which are crucial to the club’s request for a zoning change under what’s called a “specially planned area,” include a commitment to keeping the club’s carbon footprint the same, despite building 20 new luxury timeshare condos with 124 total pillows, building 12 employee units for 27 employees, and building a 50-car underground garage.

“We’ve seen people come in, time and time again, and say that their personal interests coincides with the interests of the community,” Ireland said. “And we’ve seen economic changes, personal issues, all kinds of things, change their minds. We’ve seen promises go away. And we have an obligation to ensure that what is promised is done.”

Under questioning by Ireland, Fox confirmed that he personally was not the applicant, but that it was Aspen Club and Spa, LLC, of which Fox owns 35 percent. Fox also said he is the managing partner of the LLC and that he controls 60 percent of the voting shares.

“The applicant is not Michael Fox, it is a corporation,” Ireland said, affirming Fox’s answer. Then, he asked, “Do we have a guarantee that the sale of the timeshares, that the proceeds, will be used to upgrade the club?”

“I don’t think there is anything in the ordinance that says we’re going to put X dollars back into the club,” said Fox. But he said he thought it would be “redundant” to put such a measure into the city’s ordinance approving the project.

“We’re happy to look at putting something in the ordinance, but you have to reinvest in the club to make this whole thing work and sell the units,” Fox said. “The reinvestment in the club happens before you sell these units.”

The Aspen Club’s application does say it intends to invest $7 million into the club facilities, including new equipment, locker rooms, a pool and an upgraded heating and cooling system.

Ireland then asked if there was any guarantee that Fox, who was praised for being a great manager and citizen by many supporters of the project, would stay with the club.

“I’ve never had so many people worried about me getting hit by a truck,” Fox said to laughter.

But Ireland scolded Fox for making light of the process.

“This is a serious issue,” Ireland said. “We’ve seen promises go away.”

Councilman Steve Skadron then told Fox that the Limelight Lodge review process was a perfect example of what Ireland was driving at.

The council was persuaded to give the Paas family, which operated the Limelight for decades, greater land-use approvals based on the family’s character and assertions that they would continue to operate a moderately priced hotel.

Last month, the Paas family announced it had entered into a contract to sell the hotel to Aspen Skiing Co. because they could not carry the recently finished project financially.

“This is a valid question,” Skadron said.

Fox then said the most profitable short-term move would be to scrape the club and build several large homes, which were less likely to be opposed by wealthy property owners in the neighborhood.

“We don’t want to do that,” Fox said. “We’ve been pushing hard for three or four years to not do that and come up with an alternative plan that retains the club, adds value and keeps moving it forward into the future.”

At the end of the public hearing, Councilman Dwayne Romero told Fox that he should bring back to the council assurances, in writing, on three fronts, and he stressed that it was not just the mayor that was asking for the information.

“We are looking for a greater amount of reliance, survivability and permanence around the bag of public benefits that have been articulated and held out as the core set of reasons for the approval,” Romero said. “And we’re looking for reliance and a bit of financial surety, in writing, that the project doesn’t get started and halted.”

Romero said the council also wanted assurances that the environmental initiatives, which include the project being carbon neutral, would actually happen.

“Those are the three areas that need a very, very strong response to kind of line up, frankly, with a very strong application,” Romero said.

On March 8, Fox and planner Sunny Vann will return to the council to set the date for another public hearing in March to review Fox’s responses to the council’s tough questions.

Five former directors of a timeshare firm have been disqualified for a total of 32 years after hundreds of people were subjected to "high pressure and aggressive" sales pitches, the insolvency service announced today.

Senior figures at Worldwide International UK Limited were given the bans following an investigation by the Companies Investigation Branch (CIB).

The Hampshire firm, which marketed timeshare and holiday products, was run with a "serious lack of commercial probity", leading to several complaints to trading standards.

More than 600 people and couples were persuaded by "high pressure and aggressive sales methods" to buy holiday ownerships from or via the company for a total of around £3.5 million, the investigation found.

Guidance to salesmen at the Andover-based firm advised staff to "always remember the clients have been guided on a long and twisting path to get this far" and to "button up all the way to the bank".

They were also told: "Using your pen, direct them to read only what you want them to read."

As to clients requiring finance, the advice was: "You should never go into too much detail about finance ... remember you control what they read and when they sign."

Bruce John Goss, controlling director of the largely family-run firm, failed to co-operate with the investigation and is now believed to live in India, the CIB said.

The CIB believes he caused the company to trade while insolvent and was responsible for "intermingling" the accounts of several different companies.

There was also a failure to keep proper accounts and failure to pay debts.

A forensic accountant's report claimed the financial situation of the company was caused by selling holiday inventory at a loss to generate cash. The Goss family also had a "propensity" to transfer surplus funds to their own accounts, it is claimed.

In her judgment, disqualifying Bruce Goss in his absence, High Court Registrar Christine Derrett said: "I am therefore satisfied that the allegations made against Mr Goss disclose persistent and serious dishonesty.

"I am satisfied that Mr Goss has caused the company systematically to take substantial sums of money from customers based on false information and high pressure sales tactics.

"Even when the company's financial situation was clearly hopeless he allowed it to continue to take money from customers and those customers who sought explanations were lied to and deceived. I am satisfied that Mr Goss is to be regarded as principally responsible for the actions of the company.

"His co-directors and employees, most of whom are members of his family, have all stated that he was the guiding mind, the person behind the network of companies."

Bruce Goss was disqualified as a director for eight years, and his associates were all barred between four and eight years.

His son Darryl Goss, of Ross-shire, was disqualified for eight years, and Darryl's wife, Alison Goss, for four years.

His brother Peter Goss, of Northampton, and Dawn Loe, of Salisbury, were both barred for six years.

The hearing took place in November last year, but the final order was drawn up last month.

The Florida Attorney General's Office has sued a Pompano Beach company for charging consumers $200 to $500 upfront to help them get refunds from a timeshare resale business but then doing nothing for them.

State regulators said JB's Omega Tours Corporation, which operated as Recovery Resources, also falsely claimed to be working with the attorney general's staff to gain people's trust. Those seeking refunds had been customers of Vacation Property Trader Incorporated, which has been cooperating with state investigators following allegations of fraud last year.

Recovery Resources owner Joshua Baillie also is named in the suit. He did not return a message left at his home.

The legal action seeks consumer restitution and an injunction permanently barring Baillie from engaging in similar businesses.

Silverleaf Resorts, Inc. /quotes/comstock/15*!svlf/quotes/nls/svlf (SVLF 0.75, -0.01, -1.30%) today announced the extension of its receivables-based revolving credit facility with UBS Real Estate Securities Inc. ("UBS"). The facility is set up through Silverleaf's wholly-owned and fully consolidated special purpose finance subsidiary, Silverleaf Finance IV, LLC ("SF-IV"), a Delaware limited liability company.

The new initial maximum commitment amount of the variable funding note ("VFN") issued under the facility is $106 million, which maximum commitment amount decreases to $100 million on June 30, 2010. The scheduled funding period under the VFN initially ended in September 2009, but has been reinstated and extended to February 2011, and the final scheduled settlement date has been extended from September 2011 to February 2013. The interest rate will increase from Prime to LIBOR plus 5.00%.

The VFN is secured by customer notes receivable sold by Silverleaf to SF-IV. Proceeds from the sale of additional customer notes to SF-IV will be used to fund normal business operations and for general working capital purposes. Silverleaf will continue to service the customer notes sold to SF-IV under the terms of an agreement with the indenture trustee and SF-IV.

Thomas J. Morris, Executive Vice President of Capital Markets and Strategic Planning, commented, "The continued support of our senior lenders has been critical during this uncertain period surrounding the credit and capital markets. The renewal of this facility once again allows us access to the capital markets and low cost capital providing further validation of our business model. Considered in combination with our other senior credit facilities, we believe the extension of this revolving securitization addresses our liquidity needs through 2010."

Marriott International has said that due to lack of consumer interest it won’t be investing in new timeshare developments in the near future.

“We believe that based on the demand trends that we’re seeing right now, that we have adequate inventory to meet those demand trends,” chief financial officer Carl Berquist said in the company’s earnings conference call last week.

The move comes as an indication of how the upscale timeshare market is suffering. Kevin Brass of International Property Journal describes Marriott as “an industry bellwether”.

"Marriott is a longtime believer in the timeshare and fractional business. Under the umbrella of several of its luxury brands, including Ritz Carlton, it was rapidly expanding the model, particularly in the Caribbean. But the company’s timeshare business has struggled for the last two years. Sales and service revenues declined 23 percent in 2009, according to the annual report. The company took an allowance of $83 million for cancelled contracts in 2009, compared to a $115 million allowance for cancellations in 2008,”says Brass.

Marriott expects the timeshare business to pick up in 2010, forecasting $175 million to $200 million in net cash flow compared to $150 million in 2009, but consumer demand has not picked up enough to warrant any new investment in inventory.

“We don’t see in the next year or two significant capital infusions into the business,” Berquist said, adding that in a couple of years the company would “re-evaluate that based on how that consumer demand comes back.”

Marriott executives acknowledged that timeshares are unlikely to return to their peak levels, when they accounted for as much as 30 percent of the company’s profits. Even in a “strong consumer environment,” company president Arne M. Sorenson told analysts, the likelihood of timeshares contributing that type of revenue to the company is “very, very slight, and it will end up being a smaller part of our business than it was at the peak.”

For many people, owning a foreign property would be the ultimate luxury. However, dealing with local authorities, maintaining the place, or renting it out can turn a luxury into a time-consuming, costly hassle. And that assumes you can really afford the place of your dreams, rather than a flat in a high-rise overlooking a crowded beach.

That is where the growing market for fractional – or shared ownership – properties has come in. Originally an idea popular in America, fractional buying allows you to purchase a portion of a property (usually between a quarter and an eighth) in a luxury resort, for which you can stay for a set period per year – between three and six weeks is normal. Allocations for owners will be spread across the year with, say, each allowed two weeks in high season, two in mid season and two in low season.

“Which weeks you go for is on a first come first served basis, and a good resort would try to accommodate you in an identical property if there’s a clash,” says Nick Turner of The Registry Collection, one of the largest operators. Bookings are made through resorts, so there’s no need to negotiate with fellow owners.

Fractional buying is often compared to timeshare ownership, but differs in that you buy a freehold share of the property, rather than units of time. As the property value rises, so does your share. Tax and legal fees will usually be included in the price, with everything handled by the fractional company – but it’s worth checking to avoid being surprised by extra costs.

It’s a nifty way of enjoying a luxurious foreign pad without having to stump up millions, and there are other perks. Resorts offering fractional properties will also manage them, meaning you just have to turn up on your agreed dates. The Registry Collection, with 200 affiliated resorts worldwide, also offers reciprocal deals for properties in other locations, so if you fancy something different you can swap a week or two of your allotted time at your property to head elsewhere.

Some companies, like Rocksure Properties or The Hideaways Club, have taken the model further. They offer investment in funds that buy up luxury homes around the world, which shareholders can arrange to stay in. Having launched two funds for ultra-high-end villas in places such as Thailand, Colorado, Morocco and Brazil, Rocksure has just launched a Capital Fund for deluxe properties in major European cities (see above), appealing to those who prefer cultural trips and weekend breaks to lounging on white sands.

Following the devastation of the holiday homes market in the recession, the fledgling fractional market is now particularly affordable. While fractional ownership won’t guarantee huge returns, it nevertheless has the potential for capital appreciation with minimal risk. Buyers do have to pay local tax on capital gains made, though unless you get very lucky, this won’t be a very substantial sum.

“The recession has created an opportunity for the fractional market,” says Paul Owen, chief executive of the Association of International Property Professionals. “It’s in its infancy for British buyers, but in five years time it might be seen to have been introduced at the right time.”

ROCKSURE PROPERTY

Bravo fund from £189,000, Capital Fund from £100,000

Rocksure Property’s Bravo Fund owns six properties around the globe that shareholders can stay in for four weeks each year. Destinations include Thailand, Morocco, Portugal (pictured), Croatia, Colorado and Brazil, with four and five bedroom homes averaging over £1m in value each. The life of the fund is seven years, at which point the properties are sold on and investors paid. Rocksure’s newly-launched Capital Fund is offering 14 nights a year in townhouses in European cities such as Paris, Cannes, Venice, Florence, Vienna and Barcelona. The life of this fund is 10 years.

For more information visit www.rocksureproperty.com.

ARCOS GARDENS, ANDALUCIA

From €199,900

The investment affords buyers an eighth of a four bedroom villa at this golf resort in the rolling hills of Andalucia, which can be used for four weeks every year. At the heart of the 440 acre estate is a smart hotel in a 17th century building, as well as a championship-level golf course with a brand new club house and a day spa. You can enjoy all these facilities along with the Registry Collection’s 24-hour concierge service – and you even get a set of top quality golf clubs thrown in.

For more information visit www.theregistrycollection.com.

CASTELLO DI CASOLE, TUSCANY

From €290,000

Castello di Casole is a rather splendid resort based around restorations and reconstructions of traditional Tuscan farmhouse villas on a historic 4,200 acre estate 20 minutes west of Sienna. Think hand-built loggias, terracotta vaulted ceilings, wood-burning ovens and rustic, ancient brickwork mixed with some distinctly modern luxuries like infinity-edge swimming pools and swish designer bathrooms. Villas are for sale for full ownership, with a starting price of €3.7m. Alternatively, a basic €290,000 fractional investment buys you a twelfth of a property and three weeks’ holiday there per year, plus the option to stay for free on a space available/short notice basis.

For more information visit www.castellodicasole.com, or contact Aylesford International on 020 7349 5100.

EROS VILLAS AT EDEN ROCK, ST BARTS

From €384,000

Eden Rock on the Caribbean island of St Barts is one of the most exclusive and beautifully-appointed hotel resorts in the world. It also has a number of the kind of villas that would cost several million dollars to buy outright, but which are instead available on a fractional basis. In a resort perched dramatically on top of a tiny rock peninsula, you can get glorious private sun decks with spa pools, opulence of the most chic kind, access to shimmering white beaches, plus all the luxuries of the hotel itself, including restaurants, gym, boats and even a full-on recording studio. The investment gives buyers the right to stay for between four and five weeks per year.

For more information visit www.edenrockestates.com.

Timeshare owners heading abroad have been advised to take both cash and plastic with them.

Sarah Munro, head of Post Office Travel Services, explained that carrying cash around will help with things like paying for taxis and drinks, while in many destinations it will be needed to buy goods.

Credit cards and pre-paid cards are great for those who are worried about the security dangers of carrying cash around, Ms Munro said.

Pre-paid cards can be used at ATMs as well as in shops, restaurants and bars, making them ideal for timeshare owners looking for some flexibility in their holiday finances, she commented.

For those timeshare owners wanting to use credit cards, Post Office Travel Services recommend that they save money by choosing a product which does not charge any commission for overseas usage, Ms Munro added.

Research from Santander recently indicated that 52 per cent of all Britons travelling abroad took cash as their primary payment method in 2009.

Reports claim that more and more Hawaiian timeshares are getting foreclosed due to property tax surges.

Property values around the region are dropping and Maui is no exemption. In the last year, property taxes on Maui have doubled. The taxes have raised concerns from timeshare owners. They are complaining that they are burdened by a consistently growing property tax that is not applicable to permanent residents in the island.

The county government of Maui has been experiencing budget shortfalls and it is recuperating some of its losses through property tax increases. This move is made at the expense of Maui timeshare owners, resulting into hundreds of foreclosures.

The American Resort Development Association (ARDA) says that the case is the first of its kind. Maui is the first local government to set up a separate tax category for timeshare owners, a legislation that was approved in 2005. The island’s tax rate for timeshares is the highest in the nation.

On the other hand, timeshare default rates are still low at 5 percent. Unlike conventional mortgage formats, mortgages in Hawaii are held by resort owners.

While there are many foreclosures in the region, it has opened up a new market for timeshare bargain hunters. Foreclosures sell timeshare properties at very low rates, and will be taken advantage of by foreigners. Despite high property tax rates, Hawaiian properties are still quickly sold on the market.

Perspective Magazine has announced that 11 new companies have selected the timeshare and fractional ownership publication for marketing campaigns.

The magazine said that the deals had been secured since the news broke of the launch of Perspective Magazine North America, which will be introduced in both online and print forms later this month.

Indeed, the 11 firms bought advertising and advertorial packages within seven days of the first announcement.

It will also be officially distributed via delegate registration bags to all attendees at the American Resort Development Association (ARDA) Convention in Las Vegas.

Since its inception, the company has secured media sponsorship deals with 18 major conventions and events around the world every year.

Perspective Magazine believes the first print issue, focusing on timeshare and fractional ownership issues within the US, Canada, Mexico and Caribbean regions, will see a launch circulation of over 7,000 subscribers.



The firm also expects Perspective Magazine North America will be the biggest monthly publication for the timeshare and fractional ownership sectors in the US.

AN elderly couple told how timeshare touts had conned them out of £23,000, as consumer watchdogs launched a new campaign to beat the scammers.

Retired bank manager Arthur Wilkinson, 78, and his 70-year-old wife Rosemary spent many happy holidays in the pair of apartments they had bought shares in on the Costa del Sol.

Their problems began two years ago, after Mr Wilkinson suffered a stroke and they decided to sell their share in the properties.

Companies from Spain and Gibraltar contacted them at their home in Terrington St Clement, offering to handle the sale. The Wilkinsons agreed to pay up-front fees of £1,000 to some of the callers, who promised the timeshares would fetch up to £10,000.

"They were on the telephone all the time, we had people ringing up saying we understand you've got a timeshare on the market," said Mr Wilkinson. "They said: 'we've got a company interested in buying where you've got your timeshare in Spain.

"We can guarantee you'll get the money, you don't have to release the deeds until the money's in your bank."

The Wilkinsons realised they had been targeted by criminal gangs when thousands more were debited from their account without any buyer materialising.

"We had some wonderful holidays there," said Mrs Wilkinson. "But my husband's paid out more money to sell them than they're worth, that's the scam."

Trading standards officers and the Wilkinsons' bank managed to recover most of the money under consumer credit legislation. Spanish police are now investigating the touts. But many caught in similar cons never see their money again. Scammers often use letters or e-mails to trick their victims.

Now trading standards officers have teamed up with Co-op stores, police and councils to launch an awareness-raising "scamnesty" campaign.

Consumer watchdogs have dubbed February Scam Awareness Month. From today, special bins will be available in Co-op stores across the region, along with Norfolk County Council and Norwich City Council offices and police stations.

People can deposit suspicious letters, or print off e-mails they suspect are bogus and pass them on to investigators from Trading Standards and the Office of Fair Trading.

Harry Humphrey, Norfolk County Council's cabinet member for community protection, said: "Many scams are designed to con the most vulnerable people in society, especially the elderly.

"We know that some people who are conned out of their savings choose not to tell anyone, as many people who fall foul of scams understandably feel embarrassed that this has happened to them. The Scamnesty gives people a more anonymous way of reporting scams."

Letters and e-mails placed in the bins will be investigated. Norfolk police crime prevention officer PC Gail Kevern said: "The Scamnesty is an excellent way of tackling the problem of junk or scam mail and we fully support the campaign.

"Scam letters look convincing but they are made up of false promises. They request bank details and other information which can then be used by fraudsters."

Mr and Mrs Wilkinson are still receiving calls offering to sell their timeshares.

Speaking from bitter experience, Mr Wilkinson said: "No way should you pay any money up-front for anything at all, no matter what it's for.

Wyndham Worldwide, the largest timeshare company in the world, has recently opened a new timeshare resort at National Harbor in Prince George’s County. This will be the only timeshare resort Wyndham will be opening this year, as well as Wyndham’s second timeshare property in the Washington D.C. area.

The new Wyndham timeshare opened to guest on January 15th and will be holding their official grand opening on February 5th of 2010. Wyndham used the January 15th event to make a $25,000 charitable donation to The Fishing School.

The Fishing School is a non-profit youth development organization that offers after school programs to provide academic and cultural enrichment to children through community centers in the District. Wyndham will also be rewarding the program’s highest achievers by providing them and their family a three-night stay four times during the year at this resort.

The Wyndham Vacation Resorts at National Harbor offers stylish accommodations with one, two, and three bedroom timeshares as well as 42 luxurious Presidential suites. All timeshare villas bring forth a serene atmosphere with fresh modern design, clean lines, and splashes of rich colors.

National Harbor is located in Maryland just south of Washington D.C. on the shores of the Potomac River. This 300 acre waterfront development offers entertainment, recreation, shopping, restaurants, hotels, nightlife, and much more.

The new Wyndham timeshares will have a $48.6 million annual economic impact on the region and will create hundreds of employment opportunities, according to Wyndham.

Prince George’s County is very excited about welcoming Wyndham to National Harbor. “We are very ecstatic to have Wyndham Resorts become yet another impressive addition to National Harbor. National Harbor is a unique destination with many extraordinary features especially, its exquisite location just off the banks of the Potomac River,” said Prince George’s County Executive Jack Johnson. “I am certain that this will be a popular location and win, win investment for both Wyndham and its timeshare owners.”

Even though timeshare sales have been struggling in this recession, Wyndham has already sold 75% of their timeshares at National Harbor. If you want to buy timeshare, now is a great time to invest in your family vacations with Wyndham timeshare resales. Wyndham timeshare owners will now have the opportunity to enjoy this stunning timeshare resort and explore all the sights and sounds of our national’s capital.

Timeshare company Wyndham Vacation Ownership will close a call center in Margate in April to cut costs, laying off 83 employees, a spokeswoman said Monday.

Call center functions from the Margate office will be consolidated at the company's Orlando headquarters.

Margate employees will not be offered relocation packages but may be considered for jobs in Orlando if they move on their own, the spokeswoman said.

Last year, Wyndham announced layoffs of about 50 people at Palm-Aire resort and 20 at its Royal Vista property in Pompano Beach.

Timeshare industry sales have been weak because of the U.S. economic downturn and tighter credit markets.

POLICE and trading standards officers investigating “suspected breaches of consumer law” have raided four UK offices of Spanish timeshare king Garry Leigh’s Incentive Leisure Group.

Leigh, the brother-in-law of Costa Killer Tony King, has long claimed that his business is above board and legal.

His company offered to buy unwanted timeshares and then persuaded people to spend thousands of euros on membership of Leigh’s Designer Way Vacation Club.

Buyers were promised some or all their money back after five years, but it was revealed last year how the so called “cashback” scheme collapsed through fraud.

The Office of Fair Trading, which co-ordinated last week’s raids, said the investigation was at an “early stage” and there was “no assumption” offences have been committed.

The investigation continues.