Starwood Hotels & Resorts Worldwide has filed an initial Form 10 Registration Statement Form with the US Securities and Exchange Commission for its planned spin-off of its vacation ownership business.
Starwood Vacation Ownership (SVO) will be named Vistana Signature Experiences upon the completion of the transaction and will be a separate publicly traded company.
Starwood chief executive officer on an interim basis Adam Aron said: “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.
“The spin-off will also further advance our asset light strategy with the planned contribution of five Starwood-owned resort assets to create future timeshare inventory for the stand-alone company.”
Following completion of the spin-off transaction, Vistana Signature Experiences will initially encompass nineteen vacation ownership resorts and three fractional residence properties with additional hotel asset inventory expected to be transferred from Starwood as part of the transaction.
| Advertisement |
Vistana Signature Experiences CEO-Elect Matthew Avril said: “As we continue to work toward the successful launch of our company, we’re pleased to unveil our corporate name, Vistana Signature Experiences, which will take effect upon completion of the spin-off.
“This new, yet familiar name builds on our 35-year history and recognised reputation for excellence. While our name is familiar, our new look represents the exciting future opportunities that exist for our owners, associates, guests and investors as we continue to deliver exceptional experiences that our travelers have come to expect.
“Vistana captures the essence of who we are: a forward-looking company that empowers travellers to expand their travel horizons, and see the world in new and unexpected ways. Signature Experiences speaks to what our customers expect from us and what we deliver—personalised travel experiences that are unique and memorable. Vistana Signature Experiences will complement the strength of the iconic Westin and Sheraton brands and the power of the SPG program — all of which resonate and connect with our owners and guests.”
SVO, previously known as Vistana, launched in 1980 with the debut of what was then Vistana Resort in Orlando, FL. The company was acquired by Starwood in 1999 and later renamed Starwood Vacation Ownership to expand its collection of villa resorts under the Westin and Sheraton brands.
Today, SVO provides upper upscale leisure travel and vacation ownership products, with resorts in destinations throughout the US, Hawai‘i, Mexico and the Caribbean.
Search our database of more than 2,700 industry companies
