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...“This transaction will combine two of the premier global vacation ownership companies to create a more diversified company with significantly enhanced marketing potential and scale to drive sales growth...
...A version of this article was first published by the Nikkei Asian Review on August 29 2018. ©2018 Nikkei Inc. All rights reserved....
...It raised $2bn earlier this year from selling stakes in two of Hilton Worldwide’s former sister companies, Park Hotels and Hilton Grand Vacations....
...In the past year it has come under scrutiny for its murky ownership and high leverage....
...Meanwhile, Wyndham Vacation Ownership will be a publicly traded timeshare company, headquartered in Florida and headed by its chief executive Michael Brown....
...In this case, it was the high-end timeshare resort membership model pioneered by the likes of Wyndham Vacation Ownership, Marriott Vacation Club and Sheraton Vistana....
...The decision by Starwood Hotels & Resorts Worldwide to spin-off its vacation ownership business, alongside better than expected fourth-quarter earnings, pushed shares of the company higher on Tuesday....
...Last week, Starwood said it would spin off its vacation ownership property business (so-called “time shares”) as another part of its move to the asset-light model....
...Earlier this year, Starwood announced plans to spin off its timeshare business — vacation properties with shared ownership — into a separate publicly traded company as part of its so-called “asset-light...
...The deal signals the end of the Graham family’s ownership of the iconic newspaper and the latest struggling US metropolitan newspaper to be bought by a billionaire.”...
...“In 10 years we think that car ownership will be half of what it is today because of these innovations,” he says. “It’s a shift from having to own one to having access to one....
...We do not hire outside people, but during peak times there are fewer vacations for staff....
...Timeshares, part of the fast-growing “vacation ownership” business, have come under more regulatory scrutiny as the industry swells....
...Marriott will begin selling “vacation ownership” at seven new resorts this year, including Ritz-Carlton projects in San Francisco, Miami Beach, and Kapalua and Kauai in Hawaii....
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