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Starwood Vacation Ownership Spinoff Update

Starwood Hotels & Resorts recently announced they have begun the process of the initial filing in the spin-off of Starwood Vacation Ownership into a stand-alone public company which they expect to be completed in the fourth quarter of this year 2015.

The announcement included information about the creation of an identity that would complement the strength of the Westin and Sheraton brands and the power of the SPG (Starwood’s Preferred Guest) loyalty program.  With that they announced the Vistana Signature Experiences a company “that will empower travelers to expand their horizons and see the world in new and unexpected ways.”

Westin Kaanapali Ocean Resort Villas

Westin Kaanapali Ocean Resort Villas

The announcement went on to explain, the Vistana logo features a cluster of brightly colored stars that alludes to Starwood’s distinctive collection of world class resorts, as well as their exclusive relationship for vacation ownership with the Westin and Sheraton brands.

The new identity will take effect once the spinoff of SVO from Starwood is completed later this year. And while their corporate identity is evolving, officials commented that their vision will remain the same: “to be the premier provider of outstanding personalized experiences, giving our vacation Owners, Members and Guests a better way to see the world”.

Below you will find frequently asked questions and answers regarding the Starwood Hotel spin-off:

WILL MY RESORT CONTINUE TO BE OPERATED AS A WESTIN OR A SHERATON BRAND?

Yes. We will retain a long-term affiliation with the Westin and Sheraton brands, ensuring the same level of quality and experiences you have come to expect.

WILL ALL SERVICES AND AMENITIES REMAIN THE SAME?

SVO resorts will continue to be developed, operated and maintained according to standards that deliver the highest level of quality and customer service in the industry.

WILL I STILL BE ABLE TO ENJOY MY STARWOOD VACATION NETWORK BENEFITS?

Yes. You will continue to receive the same valuable benefits; award winning branded experiences and preferred access to the industry-leading SPG program that you’ve come to know and expect from us.

WILL CURRENT AND FUTURE STARWOOD VACATION NETWORK (SVN) MEMBERS STILL HAVE ACCESS TO STARWOOD HOTELS? WILL I STILL BE ABLE TO CONVERT MY STAROPTIONS TO STARPOINTS AND ACCESS STARWOOD HOTELS WORLDWIDE?

Yes, all current and future owners will continue to enjoy privileged access to the Starwood Preferred Guest® program as they have in the past. The terms and conditions governing access to Starwood hotels through SVN and the SPG program are reviewed and updated from time to time. Any changes that may take place from time to time in ordinary course of business would not be attributable to the spin-off transaction.

Note from Advantage Vacation: Not all Starwood owners are entitled to StarOption and StarPoints (SPG) benefits. Starwood resale owners who purchase in Mandatory resorts get StarOption benefits. However, resale owners who purchase resales at Voluntary resorts don’t get StarOption benefits. In addition, SPG benefits are not transferrable on a Westin/Starwood resale. 

WILL ANNUAL MAINTENANCE FEE ASSESSMENTS REMAIN THE SAME?

Yes. Annual maintenance fee assessments are already approved and billed to Owners for 2015 and future budgets will follow a similar process.

WILL THE MORTGAGE PROCESS REMAIN THE SAME?

Yes. The mortgage process will remain the same. If you make your mortgage payment by credit card or ACH that will continue, if you mail in your mortgage payment the address is the same. All of our mortgage and customer service phone numbers will also remain the same.

WILL MY EXISTING RESERVATIONS REMAIN THE SAME FOR MY UPCOMING VACATIONS?

Yes. All confirmed reservations will remain unchanged.

 WILL I CONTINUE TO — USE THE SAME WEBSITES AND TELEPHONE NUMBERS I HAVE TO CONTACT SVO?

Yes. Our telephone numbers and website contacts will remain the same. Any changes in the future will be communicated as necessary. Visit starwoodvacationnetwork.com regularly for important information regarding your ownership.

 

Syed Sarmad, Principal Broker for Advantage Vacation

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