As we talked about in a previous blog, Starwood is making some changes to its structure and inventory. Adding new resorts and expanding their vacation ownership division were big announcements in March, and we’ve been eagerly awaiting more information about these exciting opportunities since.
Well, the wait is (somewhat) over. On Tuesday, Starwood gave us a tantalizing taste of their newest spinoff: Vistana Signature Experiences Inc., which is set to be completed by fourth-quarter 2015, said a news release.
VSE (an acronym of my own design) will be a publicly traded company.
“Today’s filing is a pivotal step toward the planned spin-off of our vacation ownership business, which will allow us to continue participating in the timeshare industry while seeking to create stockholder value for both companies,” said Adam Aron, Starwood’s interim CEO, in a prepared statement on Tuesday.
The Starwood spinoff will continue to develop and operate Starwood’s 22 timeshare resorts, including vacation destinations such as Hawaii, Orlando, Mexico and the Caribbean, as well as additional anticipated locations at Westin Los Cabos, Westin Cancun, Westin Puerto Vallarta, Sheraton Kauai, and Sheraton Steamboat-owned properties Starwood expects to transfer.
We plan to follow VSE and Starwood as these resort powerhouses continue to grow. This branch is, if anything, a testament to the growing industry that is vacation ownership.
Are you already on board? Or is it time for you to invest the most valuable thing of all, getaways and quality time?