Locally based Interval Leisure Group (ILG) is merging with Vistana Signature Experiences, a Starwood Hotels and Resorts Worldwide timeshare business valued at $1.5B that's being spun off from Starwood.
Vistana manages 22 high-end timeshare resorts with more than 220,000 owners. Once the merger is complete, the combined entity's portfolio will expand to 200 resorts and 500,000 owners, with brands that include Sheraton Vacation Club, Westin Vacation Club and Hyatt Residence Club.
Starwood shareholders will own about 55% of the combined company, with existing shareholders of ILG owning 45%. [SFBJ]
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