Shares of Wyndham Worldwide went up last Wednesday after the hotel and timeshare developer posted a significant decrease in second quarter profit.

Wyndham earned $71 million or 39 cents a share compared to $98 million or 55 cents a share last year. Upon an adjusted basis, the timeshare operator would have earned 41 cents per share.

Revenue came in a $920 million, marking a 19 percent decrease behind the stronger US dollar. The company called it “continued weakness in the global lodging industry.”

FactSet Research polled analysts who said that the company could earn 37 cents per share on revenue of $920 million.

“Concentration in the economy and mid-scale segments led it to outperform the overall industry,” noted Wyndham.

“This was a solid quarter for Wyndham and it showed the company is making all efforts to manage its expenses while its top line continues to decline,” said Steve Kent of Goldman Sachs in a note to investors. “These results also once again highlight Wyndham's two relatively stable businesses, lodging and vacation exchange and rental.”

CROOKS operating timeshare scams in Somerset are repeatedly preying on some of their victims, Trading Standards officers have warned.

Officers at Somerset County Council are collecting information about resale scams as part of an international investigation by the Office of Fair Trading.
People in Somerset have been conned out of hundreds of pounds as part of a timeshare re-selling scam, only to be approached a second time by fraudsters asking for even more money.

In one case a cold-caller took £750 from an owner as a bogus ‘commission’ or ‘administration fee’, only to come back and ask for £1,400 a few months later.
Cases of the reselling scam have increased with the economic downturn as owners try to turn their timeshares into cash. In the last year, 56 complaints about timeshares were received by Somerset Trading Standards.

Owners are approached – usually by telephone – and offered an unrealistically high price for their timeshare. The victim is asked to pay some money up front, either for administration, as commission or to guarantee the sale. The sales are rarely completed and the victim is unable to get their money back.

Anyone who is approached in this way is advised to contact Consumer Direct on 0845 4040506.

More information and advice can be found from the Association of Timeshare Owners - click on the link in our "related articles" section on this page of our website.
The council’s Cllr Anthony Trollope-Bellew said: “These scams are despicable and the perpetrators often prey on vulnerable people. If people suspect an offer is too good to be true they should not accept and get advice as soon as possible.”

If you need any help or information on how to buy or sell timeshare or require assistance with a timeshare or holiday club matter, the following two organisations provide a free of charge service to members of the public:

RDO (Resort Development Organisation), the European trade body for timeshare, offers advice to buyers and sellers of timeshare and provides a free complaints handling service if you have dealt with one it its members. Contact info@rdo.org for further information or go to its website www.rdo.org for a full list of members.

TATOC (The Timeshare Association), the consumer association representing the interests of over 250,000 timeshare owners, provides a free service to members of the public who have a complaint or query about a company that is not in membership of RDO. Contact 0845 230 2430 for further information or go to its website www.tatoc.co.uk for further information.

Holidaymakers such as timeshare owners will be able to benefit from a European Parliament decision to lower the cost of text messages and calls made on mobile phones.

The parliament has voted in favour of lowering the cost of a text message sent from abroad in the EU to no more than €0.11 (10p), replacing today's charge of €0.28 (25p), with the ruling going into force as of July 1st.

Meanwhile, the present cap for a mobile phone call made abroad will be reduced progressively from €0.46 (42p) to €0.35 (32p) per minute by July 2011.

The cost of mobile calls received while roaming abroad will drop from €0.22 (20p) today to €0.11 (10p).

An Ofcom spokesperson said that the decision is great news for travellers, like timeshare owners, as the summer holidays are about to arrive.

They added that the body, which has launched an online advice video for people using their mobiles abroad, welcomed the new ruling.