Wyndham Waikiki Beach Walk Achieves More than 3,000 Sales Prior to Opening ORLANDO, Fla., Jan. 5 /PRNewswire-FirstCall/ -- Wyndham Vacation Ownership, the world's largest vacation ownership company, today announced the opening of Wyndham Waikiki Beach Walk -- the company's 13th Hawaii-based resort and first in Waikiki. The 195 unit timeshare property is a major component of the highly anticipated Waikiki Beach Walk complex -- the largest re-development project in the city's history. Wyndham Waikiki Beach Walk, which will be affiliated with the company's FairShare Plus portfolio of vacation ownership resorts, exceeded more than 3,000 individual pre- construction sales prior to opening. (Logo: http://www.newscom.com/cgi-bin/prnh/20061020/CLF043LOGO ) "We've seen a growing demand for timeshare resorts in premier resort locations so we're very excited to unveil Wyndham Waikiki Beach Walk in this highly sought after vacation destination," said Franz Hanning, Wyndham Vacation Ownership president and chief executive officer. "With more than 3,000 pre-construction sales, Wyndham Waikiki Beach Walk is already well on its way to becoming one of our most successful resorts ever." Formerly the OHANA Reef Towers hotel, Wyndham Waikiki Beach Walk is the culmination of an extensive two-year, $54-million renovation. Boasting the warm colors and tropical ambiance of the Hawaiian Islands, the resort features 195 units including 95 one-bedroom, 83 two-bedroom and 17 two-, three- and four-bedroom luxurious penthouse style Presidential suites. Situated within two 15-story towers, each unit features a fully equipped kitchen, whirlpool bath, washer/dryer and a flat-panel television with DVD player. The resort also offers owners and guests a variety of amenities including an expansive sun deck featuring an outdoor swimming pool and whirlpool spa, a spacious exercise facility, family recreation room and a computer library. "We're delighted to have Wyndham Waikiki Beach Walk be an integral part of this much anticipated redevelopment project," said David Carey, president and CEO, Outrigger Enterprises Group. "Waikiki Beach Walk is an extraordinary hospitality, retail and entertainment complex that truly encapsulates the ultimate Hawaiian vacation experience." In addition to the wide variety of shops, boutiques and restaurants, Waikiki Beach Walk will offer a myriad of other exciting activities, including a full schedule of cultural activities and musical events -- including ukulele lessons, hula lessons, lei making, story telling, wood carving and well-known musical acts. About Wyndham Vacation Ownership Wyndham Vacation Ownership is the world's largest vacation ownership business, as measured by the number of vacation ownership resorts, vacation ownership units and vacation ownership interests. Wyndham Vacation Ownership includes marketing and sales of vacation ownership interests, property management services to property owners' associations, and development and acquisition of vacation ownership resorts. Through its two primary consumer brands, Wyndham Vacation Resorts and Trendwest Resorts, Wyndham Vacation Ownership has developed or acquired more than 140 resort properties throughout North America and the South Pacific that represent more than 18,000 fully furnished, condominium-style units and more than 750,000 owners of vacation ownership and other real estate interests. Wyndham Vacation Ownership is headquartered in Orlando, Florida, and is supported by more than 14,000 employees globally. About Outrigger Enterprises Group, Inc. Outrigger Enterprises Group is one of the largest and fastest-growing hospitality services companies in the Pacific. Outrigger is a family-owned company with nearly 60 years of hospitality experience and runs a highly- successful, multi-branded line of hotels, condominiums and vacation resort properties, including Outrigger Hotels & Resorts, OHANA Hotels & Resorts, Outrigger Condominium Collection, Outrigger Resort Club by Fairfield and Embassy Suites(R)-Waikiki Beach Walk(TM).* Outrigger currently operates nearly 60 properties representing more than 12,000 guest rooms in Hawaii, Australia, New Zealand, Fiji, Tahiti and Guam. Outrigger Enterprises Group also operates and develops hotel properties and hospitality-related retail and real estate opportunities for partners in Hawaii, the Pacific, the mainland USA and Asia. The company's most recent initiative - Waikiki Beach Walk(TM), a $535 million, 8-acre hotel-retail- entertainment complex - is the largest development in the history of Waikiki, and is set to open in December 2006. For on-line information, log on at http://www.outrigger.com/. *Embassy Suites is a registered trade mark of Hilton Hotels Corporation. About Waikiki Beach Walk(TM) Waikiki Beach Walk is the largest development project ever to be undertaken in Waikiki's history. The 8-acre area, bordered by Kalakaua Avenue, Lewers Street, Kalia Road, Beach Walk and Saratoga Road,is being completely rebuilt and is emerging as a vibrant showcase and gathering place in the new Waikiki. With a total cost of $535 million, it features an outdoor entertainment plaza, 45 new retailers, four great restaurants, and four hotels. Incorporating a design theme that celebrates Hawaii's voyaging and ocean heritage and takes advantage of the island's cooling trade winds and year-round excellent weather, Waikiki Beach Walk is the consummate expression of Hawaii today -- a place where people come to be enlivened with warm hospitality, a rich confluence of cultures, and nature's precious gifts from land and sea. For more information, visit http://www.waikikibeachwalk.com/. http://www.newscom.com/cgi-bin/prnh/20061020/CLF043LOGO DATASOURCE: Wyndham Vacation Ownership CONTACT: Lisa Burby, Sr. Director of Wyndham Vacation Ownership, +1-407-370-5146, or ; or Nancy Daniels, PR Manager of Outrigger Hotels & Resorts, +1-808-921-6839, , for Wyndham Vacation Ownership Web site: http://www.wyndhamworldwide.com/ http://www.outrigger.com/ http://www.waikikibeachwalk.com/

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