Starwood SVO to take original Vistana name

VistanaVistana Signature Experiences will be the name of Starwood Vacation Ownership, when Starwood Hotels & Resorts Worldwide spins off its timeshare business as an independent, publicly-owned company later this year.

Stamford-based Starwood (NYSE: HOT) plans to execute the spinoff in the fourth quarter of 2015 via a pro rata distribution of Vistana Signature Experiences stock to Starwood shareholders.

Vistana Signature Experiences will be based in Orlando, Fla., where it was founded in 1980 before being acquired by Starwood in 1999. The new company will include 19 vacation ownership resorts and three fractional residence properties, with Starwood expecting to transfer unspecified additional hotel asset inventory as part of the transaction