Hold on to your hat timeshare owners, Marriott is going to spin you off!
Into a new company that is. That’s the news from Marriott International Inc. – Marriott’s timeshare business. According to the report Marriott’s timeshare business generated about $1.5 billion last year. Here’s how the leadership will be arranged, “Marriott and the new company will have separate boards. J.W. Marriott will remain chairman and CEO of Marriott International. Stephen Weisz, president of the timeshare business, will become CEO of the new company. William Shaw, who recently announced his retirement as Marriott’s vice chairman, will become chairman of the timeshare company.”
So IF you own a Marriott timeshare what does that mean to you? Hard to tell right now. But, the new company will have to be able to stand or fall on its own without the hotel chain holding up the bottom line. Marriott has spent a huge amount of money in the last decade building up an impressive line of timeshare resorts all over the world. Hopefully that will pay off: Excellent exchange opportunities within Marriott, newer facilities, and specific attention to the timeshare resorts as a new stand alone company.
Given the history, quality, and desirability of Marriott timeshares I see no real changes in store for timeshare owners.