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Wyndham Destinations CEO on Airbnb's IPO and the Strength of the Consumer

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What's the one thing that people will do, even when the consumer is starting to weaken?

According to Wyndham Destination's  (WYND) - Get Wyndham Destinations, Inc. Report CEO Michael Brown, the answer is "vacations."

Brown talked to TheStreet about the consumer and why he's not concerned about Airbnb's IPO. In fact, according to Brown, Airbnb and Wyndham Destinations are "complementary."

The company celebrated its first full year as a public company on the floor of the New York Stock Exchange Friday, Jan. 10. 

And what about millennials, who may not be more familiar with products such as Airbnb's instead of timeshares? Here's what Brown had to say.

"This year, over 20% of our new purchasers were millennials. And you bring up Airbnb. We hear that all the time. I think we're two very complementary products. And the one thing we have in common is space. People, today it's a macro trend, people love to travel with space and that's where timeshare offers, that's what Airbnb offers," explained Brown. 

And how does the timeshare business fare when there's any kind of economic slowdown?

Brown said that it doesn't impact Wyndham's business as much as one might expect. 

"They may stay closer to home, change their travel spend, but with a timeshare, 80% of our owners have already fully paid for their vacation, so they're going to go and they're going to go enjoy a vacation in good times and bad," explained Brown.

Watch the full video above for more. 

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