Three decades (28 years ago to be exact), Marriott International
made the decision to enter the much-maligned timeshare industry.
Marriott’s entrance, and sterling reputation did much to enhance and
upgrade the industry. (Several other major players like Starwood
Hotels and Wyndham Worldwide also followed them.)
Under the new exit plan, Marriott’s existing shareholders will own
the new spin-off company; shares will become available by the end of
the year. The new company has yet to be named and will control the
management and the planning of timeshares properties, plus the
unsold and under-construction properties.
Marriott’s timeshare business in 2010 had $1.2 billion in revenue,
about 10.4% of the company’s total revenue.
Timeshare weeks are often traded on a direct basis by
entrepreneurially-minded owners, as well as being offered through
trade exchanges. The one- or two-week units themselves are also
bartered.
