As part of the spinoff plans recently announced by Starwood Hotels & Resorts Worldwide, the Sheraton Kauai Resort will be joining three other Starwood Vacation Ownership resorts made up of Westin timeshares and become the fourth Starwood timeshare in Hawaii. The three Starwood timeshares properties in Hawaii are the Westin timeshares at Westin Kaanapali Ocean Resort Villas, Westin Kaanapali Ocean Resort Villas North on Maui and the Westin Princeville Ocean Resort Villas on Kauai.
As part of the proposed spinoff, the Sheraton Kauai Resort will be converted to Starwood timeshares and be transferred to Starwood Vacation Ownership.
Starwood Vacation Ownership is positioning itself to become the premier upper-scale timeshare company. The spinoff will add more timeshare inventory from Starwood owned properties such as the Sheraton Kauai. In addition, as mentioned in the recent press release, several other Westin hotels and an additional Sheraton hotel will be added to Starwood Vacation Ownership’s timeshare inventory. Those resorts are Westin Los Cabos, Westin Cancun, Westin Puerto Vallarta and Sheraton Steamboat.
In a statement, Frits van Paasschen, President and CEO of Starwood, said “This is the right time for us to spin off our vacation ownership business and move Starwood forward in its asset light strategy. Not only does SVO continue to have a great outlook for growth, but valuations for timeshare companies are at attractive levels.” He went on to say, “Separating this distinct part of our business will allow Starwood to continue participating in this growth industry through a fee-based business model, as we do with our managed and franchised hotel business.”
Syed Sarmad, Principal Broker for Advantage Vacation