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DANNYO
02-20-2011, 01:00 PM
I just read in my local newspaper that Marriott wants to get out of the timeshare business,has anyone else heard of this?:eek:

qlaval
02-20-2011, 01:26 PM
Not necessarily a good thing.... :rolleyes:

TUG BBS
Marriott to Spin Off Timeshare Business
http://www.tugbbs.com/forums/showthread.php?t=140655

Washington Post article (http://www.washingtonpost.com/wp-dyn/content/article/2011/02/14/AR2011021405776.html)

USA Today article (http://travel.usatoday.com/hotels/post/2011/02/marriott-to-spin-off-timeshare-business/143016/1?csp=Travel)

Wall Street Journal article (http://online.wsj.com/article/SB10001424052748703584804576144633684101742.html?m od=googlenews_wsj)

Arubalisa
02-20-2011, 01:38 PM
As I read it :confused:, it appeared they were just splitting the Vacation Club from Marriott Corp. so Vacation Club could focus solely on timeshares and Marriott Corp could concentrate on their hotel business.

http://www.hoteldesigns.co.uk/industrynews/news_8635.html (http://www.hoteldesigns.co.uk/industrynews/news_8635.html)

“Marriott Vacation Club owners and guests and The Ritz-Carlton Destination Club members should see no change in the branding or quality of their properties, services, usage options, use of Marriott Rewards points, or access to Marriott International’s hotels....
Day-to-day operations at both companies should not be affected by this transaction. ...
As two separate public companies, both Marriott International and the new company will have separate boards of directors. J.W. Marriott, Jr. will remain chairman of the board and chief executive officer of Marriott International. Stephen P. Weisz, president of Marriott’s timeshare business since 1997 and a 39-year Marriott veteran, will become chief executive officer of the new company. William J. Shaw, who recently announced his retirement as vice chairman of the company at Marriott International and also resigned from its board, will become chairman of the board of the new timeshare company and Deborah Marriott Harrison, senior vice president of government affairs for Marriott International, will serve as a board member."

There will be separate boards, but still the same people at the helm. Stockholders did not seem to mind much either. The day's quote range on Friday when it was announced:40.68 - 41.20

Tim nel
02-20-2011, 07:26 PM
I read in my local newspaper today that the Marriott Corporation is looking to sell their timeshare division. I know most people that bought units at the Marriott only purchased because it was the Marriott, a name you could trust. Now who will own it? I think with the ressession a lot of people are walking away from their timeshares.

sunworshipperII
02-20-2011, 09:35 PM
Well when we where just there and listening to them try to sell one. It is more on a points system now, sort of like disney points...they were trying to tell us all about it they are not RCI anymore just by themselves... I don't understand but NO we didn't bite.

Arubalisa
02-20-2011, 10:02 PM
I read in my local newspaper today that the Marriott Corporation is looking to sell their timeshare division. I know most people that bought units at the Marriott only purchased because it was the Marriott, a name you could trust. Now who will own it? I think with the ressession a lot of people are walking away from their timeshares.
They are not "selling" the timeshare division, they are separating the timeshare division from the hotel division and creating a separate company.
http://www.hoteldesigns.co.uk/industrynews/news_8635.html (http://www.hoteldesigns.co.uk/industrynews/news_8635.html)

Andrea J.
02-20-2011, 10:23 PM
i heard a blurb about it on CNBC last week.
the analyst they were speaking with made it seem like a win win for all involved.

fattypatty
02-23-2011, 09:49 AM
they are spinning it off to existing shareholders, of which Marriott is one, thus, it is a sale - just not an outright sales due to tax consequences. vacation club will become a franchisee of marriott and will be allowed to pursue/manage other company's timeshares if they so choose to.

not sure what this will mean with regards to quality of their timeshares in the future.

danadog56
02-23-2011, 11:44 AM
interesting...so 2 corporations and the ability to have 2 sets of stocks available to the public ?????
seems a little like double dipping to me....but of course I am only 1/2 way through my MBA, so what do I know....

Arubalisa
02-23-2011, 11:54 AM
interesting...so 2 corporations and the ability to have 2 sets of stocks available to the public ?????
But corporation one is going to be a hotel corporation and corporation two is going to be a timeshare/vacation club corporation.

I don't see where "double dipping" comes into play :confused: unless I am missing something. :confused: The two boards of directors will be separate. It will be up to the shareholders to decide who sits on the board. If they allow duplication of directors, that is up to the shareholders.

If the shareholder does not want the shares of the timeshare company after the stock swap they can sell their shares and take the cash or put their money back into the Marriott hotel corporation stock.