Starwood Files Form 10 For Planned Spin-off Of Its Vacation Ownership Business

(RTTNews) - Starwood Hotels & Resorts Worldwide, Inc. (HOT) said the company expects to complete the planned spin-off of its vacation ownership business into a separate publicly traded company in the fourth quarter of 2015. Starwood Vacation Ownership, which will be named Vistana Signature Experiences, Inc. upon completion of the spin-off transaction, has filed an initial Form 10 with the U.S. Securities and Exchange Commission. The spin-off will be effected through a pro rata distribution of the new entity's stock to Starwood stockholders.

Following completion of the spin-off, 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.