Cendant Corp. acquired Trendwest Resorts, a vacation-ownership company, for about $927 million in stock. By purchasing Trendwest, Cendant added about 150,000 new timeshare owners and gain exposure to the western United States.

Trendwest, through WorldMark, the Club and WorldMark South Pacific Club, marketed, sold, and financed vacation ownership interests. The acquisition provided Cendant's timeshare operations with a second national brand, thus accelerating their geographic diversification.