Archive for the 'Las Vegas Sun News 2009' Category

Company Puts Construction of Wyndham Desert Blue timeshare project on hold

Friday, February 20th, 2009

Wyndham’s timeshare unit said Tuesday it’s suspending construction on its high-profile Desert Blue resort in Las Vegas.

By Steve Green – Tue, Feb 17, 2009 (2:30 p.m.)

Construction Stops on Desert Blue
Sun archives

Wyndham announces new Las Vegas resort (4-8-08)
Beyond the Sun

Wyndham Desert Blue
Desert Blue resort

Four days after lodging giant Wyndham Worldwide Corp. reported a huge loss because of the economic slowdown, Wyndham’s timeshare unit said Tuesday it’s suspending construction on its high-profile Desert Blue resort in Las Vegas.

The Wyndham Vacation Ownership resort near the Rio hotel-casino is planned to consist of 19 stories with 281 condominium-style units. Martin-Harris Construction Co. and its subcontractors had completed the building shell on the 14.75-acre site, which has a high profile because of its proximity to Interstate 15, the Las Vegas Strip and Flamingo Road.

“We have temporarily suspended construction,” said Lisa Burby, vice president of corporate communications for Wyndham Vacation ownership. “This is a temporary situation. Desert Blue remains in our plans. It’s still a priority for us.”

Wyndham Worldwide of Parsippany, N.J., one of the nation’s largest hotel companies with brands such as Days Inn, Hawthorn, Ramada and Super 8, on Friday reported a loss for the fourth quarter ended Dec. 31 of $1.356 billion, or $7.63 per share, because of $1.378 billion in noncash charges for restructuring and writing down the value of assets because of the recession.

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