Marriott to restructure timeshare operations
Marriott International is planning to spin off its timeshare operations as a new independent company. Under the plan, the new company will focus on the timeshare business, with Marriott International concentrating on the lodging management and franchise business. Marriott will also receive franchise fees from the timeshare company’s use of the Marriott and Ritz-Carlton brands.
“The transaction will permit both companies to tailor their business strategies to best address market opportunities in their respective industries,” said the company’s Chairman & CEO, JW Marriott, Jr. “The new timeshare company will be positioned to expand faster over time while Marriott International will further advance its longstanding strategy of separating real estate from management and franchise operations.”
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