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Starwood Plans to List Timeshare Unit on NYSE


Starwood Hotels and Resorts Worldwide has taken a key step toward the spinoff of its timeshare unit. The company announced on Tuesday that Vistana Signature Experiences Inc. will be listed on the NYSE by the end of the year under the ticker VSE. The new company includes 19 vacation resorts and three other properties, according to Bloomberg. Starwood announced the spinoff plans in February and has been looking to trim real estate holdings and focus on property management and franchising. [BB]