Travel + Leisure (TNL) 8-K Wyndham Worldwide Reports Strong Second Quarter 2007 Results

Exhibit 99.2
Table 1

Wyndham Worldwide Corporation
2007 Earnings and Seasonality Guidance (as of August 1, 2007)
(In millions, except per share data)

	Low			High
Net Revenues
Lodging	$	700		$	730
Vacation Exchange and Rentals		1,230			1,260
Vacation Ownership		2,400			2,500
Total Reportable Segments	$	4,340		$	4,480
Adjusted EBITDA
Lodging	$	215		$	230
Vacation Exchange and Rentals		305			315
Vacation Ownership		380			400
Corporate and Other		(75	)		(60	)
Total Adjusted EBITDA		845			860
Depreciation and amortization		(170	)		(160	)
Interest expense, net		(75	)		(65	)
Income before income taxes		600			635
Provision for income taxes		(228	)		(243	)
Adjusted net income	$	372		$	392
Diluted earnings per share	$	2.02		$	2.13
Diluted shares		184			184

	2007 Seasonality (as of August 1, 2007)
	Q1						Q2						Q3						Q4
	LOW			HIGH			LOW			HIGH			LOW			HIGH			LOW			HIGH
Net Revenues
Lodging		20	%		22	%		25	%		27	%		27	%		29	%		24	%		26	%
Vacation Exchange and Rentals		23	%		25	%		22	%		24	%		28	%		30	%		23	%		25	%
Vacation Ownership		21	%		23	%		25	%		27	%		26	%		28	%		24	%		26	%
Total Reportable Segments		22	%		24	%		24	%		26	%		26	%		28	%		24	%		26	%
EBITDA
Lodging		20	%		22	%		25	%		27	%		30	%		32	%		21	%		23	%
Vacation Exchange and Rentals		27	%		29	%		15	%		17	%		35	%		37	%		19	%		21	%
Vacation Ownership		17	%		19	%		26	%		28	%		28	%		30	%		25	%		27	%
Total Reportable Segments		21	%		23	%		22	%		24	%		31	%		33	%		22	%		24	%

Note 1:	Projections do not total because we do not expect the actual results of all segments to be at the highest or lowest end of any projected range simultaneously.
Note 2:	Projections exclude separation and related costs, as well as legacy adjustments.
Note 3:	It is not practical to provide a reconciliation of forecasted Adjusted EBITDA for the full year 2007 to the most directly comparable GAAP measure, net income, because certain items cannot be reasonably estimated or predicted at this time. Any of those items could be significant to our financial results.

Table 2

Wyndham Worldwide Corporation
2007 Driver Guidance

	Low			High
Lodging
RevPAR		5	%		7	%
Weighted Average Rooms Available		2	%		4	%
Vacation Exchange and Rentals
Average Number of Members		4	%		6	%
Annual Dues and Exchange Revenue per Member		1	%		3	%
Vacation Rental Transactions		6	%		8	%
Average Net Price per Vacation Rental		6	%		8	%
Vacation Ownership
Tours		9	%		11	%
Volume per Guest (VPG)		6	%		8	%