IRVINE, Calif., Jan. 10, 2011 – Steadfast Companies announced today it has entered into a franchise and license agreement to operate the 286-room resort hotel it owns in downtown Cabo San Lucas as the Wyndham/Tesoro Cabo San Lucas Resort.

"The Wyndham Hotel Group is the world's largest hotel company and we are elated that our resort is the location for their eighth Wyndham® branded property in Mexico," said Steadfast Companies CEO Rod Emery.

 The name change occurs as Steadfast nears the end of a $10 million multi-year renovation that, when complete in early 2012, will have remodeled all of the guest rooms, hotel lobby, restaurants, bars and lounges as well as made improvements to the conference facilities, landscaping, elevators and pool.

The five-story resort provides a complete Mexican vacation experience for guests replete with a full-service fitness center and spa; a rooftop pool featuring a swim-up bar, poolside lounges and children's area; nightly live entertainment; and balconies that look out upon the marina, town or the Sea of Cortez.

The resort's central location gives guests immediate access to the town's boardwalk, restaurants, nightlife and shopping and is convenient to the area's world-class championship golf courses, pristine beaches and natural attractions.

"This opening represents our commitment to grow the brand in key vacation destinations while providing travelers with Wyndham's upscale accommodations and personalized services," said Jeff Wagoner, president of Wyndham Hotels and Resorts.

Steadfast purchased the Cabo San Lucas property in 2004, and it is one of three Mexican resorts the company owns under its Tesoro hotel brand. Steadfast will continue to manage the property through its joint venture with San Diego-based GHS Resort Management LLC.

About Wyndham

Wyndham Hotels and Resorts, LLC, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Europe, Canada, Mexico, China and the Caribbean. All Wyndham^® hotels are either franchised by the company or managed by Wyndham Hotel Management, Inc., one of its affiliates or through a joint venture partner. Additional information and reservations for all Wyndham hotels are available by calling (800) WYNDHAM – (800) 996-3426 – or visiting "www.wyndham.com".

About Steadfast Companies

Steadfast Companies is a privately owned real estate investment consortium that acquires, develops and manages real estate in the U.S. and Mexico. Since its formation in Orange County, Calif. in 1994, Steadfast Companies has developed into a multifaceted real estate organization that owns and/or operates over $1.5 billion in commercial, multifamily, retail and hospitality projects . For more information, visit www.steadfastcompanies.com