- Business line will serve as the parent-brand for RCI and portfolio of exchange and other membership travel groups to set the stage for business expansion
- New products and services present travelers a whole new range of opportunities for travel experiences beyond their traditional timeshare ownership
Wyndham Destinations (NYSE:WYND), the world’s largest vacation ownership and exchange company, today announced the creation of Panorama, a new business line to manage the company’s exchange, membership, and travel technology brands.
The new Panorama portfolio will have three areas of focus, including timeshare exchange companies RCI -- the world’s largest holiday exchange network -- 7Across (formerly known as DAE), and The Registry Collection; travel and leisure businesses Love Home Swap, TripBeat, and Extra Holidays; and leading travel technology platforms @Work International and Alliance Reservations Network (ARN). Hospitality industry veteran Olivier Chavy, who joined Wyndham Destinations in 2019 to lead the company’s Holiday Exchange businesses, was named president of Panorama.
“The creation of Panorama helps to reposition these businesses into a more holistic travel company squarely focused on profitable top-line growth by diversifying and expanding outside the exchange business, leveraging our strategic acquisition of ARN last year,” said Michael D. Brown, president and CEO of Wyndham Destinations.
With more than 20 million timeshare and holiday club members globally, holiday ownership and exchange is a significant part of how the world enjoys holidays. Panorama aims to broaden the business, identify new capital efficient sources of supply, offer new and innovative products and develop new travel solutions in partnership with club affiliates in order to increase overall usage and satisfaction of club members. More than five million people holidayed using the company’s exchange businesses last year.
“Our strategy is to expand beyond our core and legacy timeshare business into the broader travel market to become a leading travel membership provider,” said Olivier Chavy, president of Panorama. “Our leading travel platforms powered by ARN will drive new business and open new opportunities for timeshare owners to use their exchange currency to access discounts on stays all year round with an abundance of new accommodation options.”
In its first significant market expansion, Panorama is launching a new travel services business, Panorama Travel Solutions, to drive focused growth outside its core market. The group will offer customised global discount travel membership clubs and travel technology solutions to affinity partners including large employers, banks, retailers, trade associations and others in the U.S., Mexico, Asia, and Europe./p>
The first product is a new travel club product powered by ARN that can be custom-branded or co-branded and marketed to new membership organisation customers not currently in the company’s base.
All of the brands in the Panorama portfolio are being reimagined as part of the launch of the new company:
- Next month, Panorama will launch a new brand identity for its flagship exchange company RCI, along with new products and services for its 3.9 million members and 4,200 affiliated resort properties. The company’s acquisition of Alliance Reservations Network (ARN) in 2019 enables RCI to continue to evolve its offering through enhanced B2B products and services for affiliate partners.
- Dial an Exchange (DAE) was acquired by the company in 2017 and is being relaunched globally this month as 7Across. The company offers a direct-to-member exchange model which has been popular in Australasia and Europe, and has significant growth opportunities in North and South America.
- The Registry Collection is the premier luxury exchange network that is evolving to offer more luxury and full-service experiences for its members on a new, modernised technology platform powered by ARN.
- Also acquired in 2017, Love Home Swap is a pioneering home sharing service allowing home owners to choose a property where they want to go, make the swap and then enjoy a hassle-free holiday in an outstanding property without a hefty accommodation bill. The Love Home Swap brand is being reimagined as it looks to accelerate growth outside its original European market.
“The creation of the Panorama business is a recognition that the companies acquired over the last 10 years have come together to create a powerful travel business that has the opportunity to grow and expand,” Chavy said. “The rebranding work supports the reinvention of every part of our portfolio and sets us up for growth for the next 10 years and beyond.”