Wyndham Vacation Rentals, one of the brands of
Wyndham Worldwide Corporation
) has recently completed the renovation of three buildings of its
Lion Square Lodge at the Gondola in Vail, CO. The renovation cost
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Lion Square Lodge is located at the base of Vail Mountain and
Gore Creek, near the Eagle Bahn Gondola and features amenities
like a pool, spa, a restaurant and a fitness center. Lion
Square Lodge accommodations are conveniently located within a
ski-in/ski-out lodge in Vail. 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, which would enhance the overall guest
The company completed the $33.0 million renovation of the North
Building in 2009 and it was reopened in Dec 2009 with 23
completely renovated units and seven new units.
Renovation of the South and East buildings began in Apr 2012. In
Oct 2012, the company completed the $5.0 million renovation of
the South Building. As a part of the renovation, the exterior of
the building was upgraded along with the common area and other
units. The company also added the El Sabor restaurant.
The final phase of the project, the Lodge's East Building in the
Lionshead ski yard, re-opened in Dec 2013 for the 2013/2014 ski
season after renovation work worth $15.0 million. The final phase
of the project begun in Apr 2013.
It is difficult to survive in this competitive industry without
renovating properties. Renovation brings in novelty, thereby
increasing traffic. Other companies in the hotels and motels
Hyatt Hotels Corp.
Starwood Hotels & Resorts Worldwide Inc.
Marriott International, Inc.
) are also investing in renovating their properties.
Wyndham that currently has Zacks Rank #3 (Hold) posted mixed
fourth quarter 2013 results 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%.