Marriott International Subsidiary Files SEC Form 10 for Planned Spin-Off by Year-End of Vacation Club Business

Marriott International, Inc. MAR marked progress today toward the planned spin-off by year-end of its vacation club business into a separate publicly traded company, announcing that its subsidiary, Marriott Vacations Worldwide Corporation, the new corporate name for the vacation club business upon spin-off, has filed an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission. Stephen Weisz, president and chief executive officer of Marriott Vacations Worldwide Corporation, said, "Our filing today is an important step toward our spin-off, as we continue to be on track to launch our new company by year-end 2011. With the spin-off of Marriott Vacations Worldwide, we look forward to tremendous opportunities to build our vacation ownership business and deliver value to our new shareholders. We'll have a new corporate name to complement our new future but the names of our industry-leading brands, Marriott Vacation Club, The Ritz-Carlton Destination Club, and Grand Residences by Marriott, and our focus on delivering outstanding vacation experiences to our over 400,000 owners, won't change."