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Posted: 06 Aug 2011 | 6:00 am
Global hospitality group Marriott International have undergone a significant restricting of their vacation ownership business unit.
A split will be made into two listed companies with delineation between hotel and alternative ownership (timeshare) divisions within this year.
Marriott's vacation ownership business was hit hard by the global financial crises and US recession which saw the financing model diminish.
While the group's Asian operations had bright prospects a forced cost cutting and downsizing hit regional development of the brand.
Industry sentiment remains mixed on the subject given Marriott's large leveraging in North America and a cloud over discretionary spending on the horizon.
Unfortunately a model which was poised to become a giant in a booming economic climate in Asia has been caught up in domesticated financial issues.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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