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Resort group spent $270,000 lobbying in 1Q



By AP
30 June 2008 @ 12:34 pm EST

WASHINGTON - The American Resort Development Association, which represents the time share and vacation resort industry, spent $270,000 in the first quarter lobbying on housing and mortgage issues.

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HOT 37.04 -1.97
WYN 18.04 -0.66
AXP 36.73 -1.26
DIS 31.75 -0.33

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The trade group lobbied about bills to stiffen standards for mortgage lending and stem foreclosures, according to an April 21 filing with the House clerk's office.

The Washington-based association includes nearly 1,000 members in the vacation real estate industry, including Starwood Hotels & Resorts Worldwide Inc., Wyndham Worldwide Corp., American Express Co., The Walt Disney Co. and privately held Global Hyatt Corp.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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