Cendant Timeshare Resort Group announced the appointment of Peter Menges to the newly created position of Executive Vice President, Marketing, Cendant Timeshare Resort Group. In his new role, Peter will lead our efforts to leverage the resources and intellectual capital of Cendant Corporation to drive incremental growth in our vacation ownership development business.

Working closely with senior marketing staff from Fairfield Resorts and Trendwest Resorts, Peter will also seek to share best practices in marketing and media across the Cendant Timeshare Resort Group, as well as identifying and pursuing new revenue opportunities, new products, new segments and new channels for Cendant's vacation ownership offerings.

I believe that the size and scale of the Cendant Timeshare Resort Group represents a significant opportunity to explore many new avenues for growth, efficiency and innovation, to build upon our foundation and create a more dynamic and productive organization, said Jack McConnell, president and CEO, Cendant Timeshare Resort Group. The formation of this new team, led by Peter Menges, is another step in our long-term quest to transform timeshare from a sold good to a sought good.

Prior to joining the Cendant Timeshare Resort Group, Menges spent the past two years as Senior Vice President, Integrated Marketing and Media for Cendant Corporation, overseeing corporate marketing, media and the facilitation of cross-marketing activity. Peter has been working with senior marketers from every corner of Cendant's Hospitality, Vehicle Services, Travel Distribution and other corporate divisions, to create multi-branded marketing initiatives, identify new revenue opportunities and share best practices in marketing across the organization.