Marriott to spin-off timeshare unit

Marriott to spin-off timeshare unit

Marriott International’s Board of Directors has approved a plan to spin-off its wholly-owned timeshare subsidiary, Marriott Vacations Worldwide Corporation. The move will be achieved through the distribution of shares to holders of Marriott International common stock. The spin-off will be completed on 21 November, following which Marriott International shareholders will own all of the outstanding shares of Marriott Vacations Worldwide.

The company said the move will allow Marriott International to “concentrate on its lodging management and franchise business”.

Mark Elliott
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Mark Elliott
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