Tag Archives: Starwood Hotel Spinoff

Starwood CEO Frits van Paasschen Is Out, One Week After Company Announces Spin

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Last week, Starwood Hotels(HOT) announced it would be spinning off its timeshare business. One week later, CEO Frits van Paasschen “resigned by mutual agreement with the Board of Directors as President, Chief Executive Officer and a Director.” The company has appointed director Adam Aron as interim CEO and has stated that they wanted to see more growth than… Read More »

Starwood Thinks It’s Time To Say Goodbye To Its Timeshare Business

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While releasing strong Q4 results, Starwood Hotels (HOT) also announced plans to spinoff its timeshare business, Starwood Vacation Ownership. The timeshare unit reported revenues of $640m in 2014, representing a little over 10% of the overall company’s total. According to the press release, the company ‘has successfully sold more than $6 billion of vacation ownership intervals to over… Read More »