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LV properties in timeshare deal

Tuesday, April 2, 2002 | 10:50 a.m.

New York-based Cendant Corp., the world's largest lodging franchisor, is acquiring Trendwest Resorts Inc., a time-share resort development company, for $894 million in stock.

Both companies have Las Vegas properties.

Cendant, parent company of Fairfield Resorts, has four administrative operations around Las Vegas and the 270-unit time-share Fairfield Grand Desert at 265 E. Harmon Ave. That property has a tower under construction that will boost its capacity to 600 rooms later this year.

Trendwest operates the 42-unit WorldMark at Las Vegas property at 4225 Spencer St., and is weeks away from opening a sales office for a new resort at 8601 Las Vegas Blvd. South. The new property will have 200 units in its first phase and will take the WorldMark at Las Vegas name when it opens, with the smaller property changing its name. It hasn't been determined how many units the new property will have when complete.

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