Marriott to Split into Two Companies
From Associated Press:
Timeshare Development, Management Will be Separate Company
Marriott International Inc. is splitting into two publicly traded companies. The company said Monday that it will spin off its timeshare development and management company this year. The remaining business will concentrate on lodging management and franchising and receive licensing fees from the timeshare business. The announcement came as the company reported a 63 percent increase in its fourth-quarter net income to $173 million, or 46 cents per share. That's up from $106 million, or 28 cents per share, a year earlier. Click here for the full story.
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