Starwood Vacation Ownership today announced the development of The Westin Nanea Ocean Villas in Hawaii, a 26-acre oceanfront resort scheduled to open in 2017 with sales beginning fall 2015.Read the press release
Starwood Hotels & Resorts Worldwide, Inc. announced plans to spin off its vacation ownership business, Starwood Vacation Ownership, into a separate publicly traded company. The transaction is expected to fuel long-term growth and create greater experiences for guests. For more information please call 407-903-4657 or 1-800-471-8420 .Read the press release
Creating two separate companies will allow Starwood Vacation Ownership (SVO) opportunities to grow, while continuing to provide outstanding vacation experiences, and Starwood to continue to participate through its franchise and managed hotel business model.
As a stand-alone public company, SVO will explore new development and growth opportunities to offer more options and flexibility to Owners and enhance their vacation experiences. We have a more than 30-year history in the vacation ownership industry and expect to bring even greater experiences to our Owners in the future.
Yes. As part of the transaction, SVO will benefit from additional anticipated inventory at the Westin Los Cabos, Westin Cancun, Westin Puerto Vallarta, Sheraton Kauai, and Sheraton Steamboat. We will communicate details regarding the progress of adding new resorts to the network as they become available.
Today, Owners may access these hotel properties through the Starwood Preferred Guest® program. We will provide future communications as plans progress.
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.
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.
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.
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.
Yes. Annual maintenance fee assessments are already approved and billed to Owners for 2015 and future budgets will follow a similar process.
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.
Yes. All confirmed reservations will remain unchanged.
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.