Wyndham Vacation Rentals, one of the brands of Wyndham Worldwide Corporation (WYN) recently completed the renovation of The Borders Lodge in Beaver Creek, CO. The cost of renovation was $1.6 million.
The renovation work began in 2013 and included significant interior and exterior upgrades to enhance the overall guest experience. The lodge was re-opened recently for the ski-season.
Located 40 feet from the Elkhorn lift and near the Beaver Creek Village, this lodge offers a wide range of amenities and services including, a spa, fitness center, meeting room and access to Beaver Creek Resort's complimentary shuttle service. This strategically positioned and renovated mountain lodge is likely to generate significant business.
It is difficult to survive in this competitive industry without renovating properties. Renovation brings in novelty, thereby increasing traffic. Recently, the company completed the renovation of three buildings of its Lion Square Lodge at the Gondola in Vail, Colo. The cost of renovation was $53.0 million. The renovation work of the three buildings, the Lodge's East Building, South Building and the North Building began in 2008 and included significant interior and exterior upgrades.
Other companies in the hotels and motels industry like Hyatt Hotels Corp. (H), Starwood Hotels & Resorts Worldwide Inc. (HOT) and Marriott International, Inc. (MAR) are also investing in renovating their properties.
Wyndham that currently has Zacks Rank #3 (Hold) posted mixed fourth quarter 2013 results on Feb 7, 2014 with adjusted earnings of 73 cents per share missing the Zacks Consensus Estimate of 74 cents by a penny which we believe was due to higher expenses. However, quarterly earnings were up 15.9% year over year. Net revenue grew 9.2% year over year and beat the consensus mark by 1.7%.
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