For the year ended December 31, 2001, the timeshare company says revenues were $469.2 million, up 39.0% from $337.6 million last year.

"While the 2001 fourth quarter presented many challenges for us, we continued to grow our business. Our sales and marketing costs were negatively impacted due to the events of Sept. 11. However, our tour flow has since returned to normal levels, and we continue to work on improving our overall sales and marketing costs. Additionally, our financial results continue to benefit from the current interest rate environment," Bill Peare, president and CEO said in announcing the news. "We are moving into 2002 focused on improving operating efficiencies to move more sales dollars to the bottom-line."

During the fourth quarter, Trendwest South Pacific contributed 15 units at a new resort at Coffs Harbour, New South Wales in Australia and another 11 units at Denarau Island in Fiji. In the US, the final 120 units at the Kihei Resort on Maui were contributed to WorldMark.