Marriott Approved Plan For Timeshare Segment September 8

On September 8, Marriott (NYSE:MAR) management approved a plan for the Timeshare segment to accelerate cash flow through the magnetization of certain excess undeveloped land and excess built luxury inventory, resulting in a write down of the carrying amount of these assets. Additionally, the company determined that certain international deferred tax assets that it expects the Company will transfer to Marriott Vacations Worldwide in connection with the proposed spin-off are impaired, as it is more likely than not that Marriott Vacations Worldwide will be unable to realize the value of those tax assets.

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Marriott Approved Plan For Timeshare Segment September 8