Press Release Details

PARSIPPANY, N.J. and ORLANDO, Fla., Dec. 1, 2011 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. and Wyndham Vacation Ownership, a member of the Wyndham Worldwide family of companies, today announced they have entered into a new, multi-year alliance to jointly market each company's products and services to generate incremental car rentals and timeshare resort stays in key destinations for both companies.

Under the agreement, Avis Rent A Car and Budget Rent A Car will be designated as Wyndham Vacation Ownership's (WVO) preferred car rental providers featuring Avis and Budget special offers and year-round discounts and benefits for its more than 800,000 vacation ownership families. In addition, Avis Budget Group will expand its call transfer partnership with WVO in the United States, offering interested customers an opportunity to learn about the value and benefits of owning vacations with WVO.

"Timeshare owners consistently travel on vacation more often, and for longer periods of time, so they are ideal customers for Avis' premium 'We try harder' service and the great value of Budget," said Tom Gartland, president, North America for Avis Budget Group. "At the same time, travelers who rent a car while on a leisure trip tend to be ideal prospects for making a long term commitment to vacationing. Our reciprocal marketing agreement really helps introduce the right kind of new customers to each others' brands."

The new partnership agreement expands a long-term successful relationship between the two companies, who will continue to develop marketing programs to increase benefits for customers.

"Avis Budget Group is a global leader who is committed to the customer experience as much as we are, and we are extremely pleased to enhance and expand our relationship," said Jeff Zorovich, WVO senior vice president of strategic alliances. "We look forward to further leveraging the strength of our respective brands to benefit our customers and expand our opportunities for growth."

About Avis Budget Group

Avis Budget Group, Inc. (Nasdaq:CAR) is a leading global provider of vehicle rental services through its Avis and Budget brands, with 10,000 rental locations in approximately 175 countries around the world. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 28,000 employees and is headquartered in Parsippany, N.J. For more information, visit www.avisbudgetgroup.com.

The Avis Budget Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8891

About Wyndham Vacation Ownership

Wyndham Vacation Ownership, a member of Wyndham Worldwide's (NYSE:WYN) family of companies, is the world's largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, CLUB WYNDHAM®, WorldMark by Wyndham, and Wyndham Vacation Resorts Asia Pacific.  As of December 31, 2010, Wyndham Vacation Ownership had developed or acquired more than 160 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent approximately 20,500 individual vacation ownership units and more than 800,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Fla., and is supported by approximately 13,300 employees globally. For more information about Wyndham Worldwide, please visit www.wyndhamworldwide.com.

The Wyndham Vacation Ownership logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11170

CONTACT: Alice Pereira

         Avis Budget Group

         (973) 496-6113

         PR@avisbudget.com

         

         Lori Ford

         Wyndham Vacation Ownership

         (407) 626-5882

         Lori.Ford@wyn.com