The chairman and CEO of Wyndam Worldwide told CNBC Tuesday that he’s bullish on the economy this year, unexpectedly.
“I think everyone went in a little cautions, going into 2010, but 2010 has been very strong,” said Stephen Holmes. “All the indicators, all the fundamentals are behind the business growth.”
Wyndam reported better-than-expected quarterly earnings on Tuesday. Revenue is up nearly 5 percent this year over last: $1.078 billion in the third quarter versus $1.02 billion a year ago.
Hotels represent a fifth of the company’s business, but half of its revenue comes from time-shares: Wyndam is the world’s biggest time-share operator. Another big piece of its revenue comes from vacation exchanges and rentals.