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Marriott International will concentrate on its lodging management and franchise business. As the leading "pure-play" timeshare company, Marriott Vacations Worldwide will have a singular focus on its core business with exclusive rights to the and Ritz-Carlton brands in the timeshare industry.
I have a deep appreciation for what the Marriott Vacations Worldwide team has achieved over the last 27 years, and confidence in great things yet to come." The spin-off will be completed through a pro rata dividend of Marriott Vacations Worldwide common stock on common stock held by such shareholder on the record date.
Legacy weeks are deeded to a particular resort, unit type, and specific week or floating season.
Those numbers are changing, however, since Marriott no longer sells traditional weeks (they are still available on the resale market).Marriott International shareholders should consult their tax advisors with respect to U. federal, state, local and foreign tax consequences of the Marriott Vacations Worldwide spin-off.The distribution does not require shareholder approval, nor is any shareholder action or payment necessary to receive shares through the distribution of Marriott Vacations Worldwide common stock.shareholders will own all of the outstanding shares of Marriott Vacations Worldwide common stock.Marriott Vacations Worldwide will be the exclusive developer and manager of vacation ownership and related products under the Marriott brand and the exclusive developer of vacation ownership and related products under the Ritz-Carlton brand. , said, "Our associates in our timeshare business have built the industry's most admired company, one that delivers the best vacations in the world to more than 400,000 Owner families.