As senior vice president of WorldMark by Wyndham, I'm responsible for overseeing all aspects of WorldMark, The Club operations. I've been with the company more than eight years, and have helped facilitate the company's transition through the Cendant acquisition and now with Wyndham Worldwide.

During this time, the WorldMark by Wyndham senior management team, along with its employees, have been dedicated to providing our WorldMark owners with quality products and vacation experiences. Our senior management team consists of veterans such as Dave Akins, vice president of WM Resort Operations, and Peggy Fry, vice president of WM Owner Services, who have been with the company for over seven and 14 years, respectively. 

We, along with our employees, are passionately committed to continuing WorldMark by Wyndham's rich history of providing value-added benefits that will further enhance your ownership. Our commitment is to be the best vacation ownership company in the industry.

While the management team is responsible for leading and delivering your vacation experiences, your five-member WorldMark Board of Directors is responsible for overseeing the club and ensuring that its operations conform to the existing governing documents. These board members, each a WorldMark owner, work together to ensure that WorldMark policies and procedures are followed in the best interest of the majority of the owners.

Over the years, the makeup of the board has included a combination of Trendwest executives and individual WorldMark owners. While the company's senior management—industry experts with years of experience in this business—have held the majority of the board positions, WorldMark owners have supported this structure by repeatedly electing these industry experts during the annual voting process. And again this year, voters demonstrated their continuing support by overwhelmingly re-electing Jack McConnell and John Henley to the 2007 WorldMark Board.

A key advantage of this board composition is that the elected individuals have a broad understanding of the unique relationship WorldMark has—and will continue to have—with its developer, now known as WorldMark by Wyndham. While WorldMark and the developer are two distinctly separate legal entities, their mutual success requires an extremely collaborative relationship. Previous and existing board members understand the importance of this business model, and have expertly managed the business of the club with this in mind.

The relationship between the club and the developer must remain cooperative to ensure the long-term success and growth of WorldMark, The Club. With more than 60 resorts and growing, our unique business model has delivered the variety of high-quality vacation experiences you have come to know and expect. Your WorldMark Board continues to serve the club and facilitate its exciting growth through the cooperative relationship with our developer.

Your management team looks forward to another great year of serving you, the owners. On behalf of WorldMark by Wyndham, I wish you many wonderful WorldMark vacations!