10/28/05
Starwood Hotels and Resorts has announced plans to sell up to $4b-worth of assets over the next 12 months.
The Starwood group has several brands including Sharaton and Westin. Along with some 750 plus properties the group either franchises or owns. Timeshare owners have nothing to fear as Starwood expects to retain management of these properties. “In most cases we expect to retain long-term management or franchise contracts, maintaining our footprint while unlocking value for reinvestment in the business and for share repurchase.” said Stephen Heyer, CEO.
Look for Starwood to position themselves even stronger in the timeshare and fractional market in the next 12 to 18 months. As a leader in the timeshare industry, Starwood has done an incredible with their properties and may have plans to reinvest this cash in additional high end markets.
