ORLANDO, Fla., Jan. 8, 2016 /PRNewswire/ -- Marriott
Vacations Worldwide (NYSE: VAC), a leading global pure-play
vacation ownership company, announced today that it has taken over
management of The Strand Hotel in New
York City. Subject to certain conditions being met, Marriott
Vacations Worldwide has also agreed to a capital efficient purchase
of the 176-room hotel in phases over time, beginning in 2018, and
plans to make it part of its Marriott Vacation Club vacation
ownership program. The announcement of this fantastic location
further establishes Marriott Vacations Worldwide's capital
efficient growth strategy of adding exceptional new destinations to
its portfolio of resorts around the globe. Located on
37th Street between Fifth and Sixth Avenues, The Strand
is ideally situated to share all that the city has waiting for
Owners and guests to enjoy.
"New York City has been on our
list as a destination for our Owners to explore for quite some
time," said Stephen P. Weisz,
president and chief executive officer of Marriott Vacations
Worldwide. "The location of this property puts our Owners right in
the heart of Manhattan where they
can experience firsthand the vibrant energy the city has to offer.
I am excited about this opportunity as a destination for our Owners
and as a new sales location, continuing our strategy of growing our
network of resorts."
Marriott Vacations Worldwide anticipates that it will rebrand
The Strand as a Marriott Vacation Club in early March 2016 and will begin welcoming Marriott
Vacation Club Owners. Reservations for Owner usage through the
Marriott Vacation Club exchange program will be offered as early as
mid-February 2016 for arrivals
beginning in early March 2016. In
addition, the company plans to open its new Manhattan sales location by the middle of
2016.
The Strand will welcome those arriving with a beautiful lobby
and offers rooms with distinctive contemporary décor of neutral
shades and light textures. Rooms include high-definition
flat-screen televisions, complimentary wireless internet access,
daily housekeeping service and spa-inspired bathrooms adorned in
European-style tiling, sleek granite countertops, custom wood
cabinetry and top-of-the-line fixtures.
In addition to its Midtown Manhattan location, The Strand also
includes wonderful on-site amenities, including The Strand Bistro,
an intimate New York dining
experience, and a rooftop lounge, The Top of The Strand. Named
"New York City's Best Year-Round
Rooftop Bar" by New York Magazine, The Top of The Strand
features a retractable glass enclosed roof overlooking the iconic
Empire State Building.
About Marriott Vacations Worldwide
Corporation
Marriott Vacations Worldwide Corporation is a
leading global pure-play vacation ownership company, offering a
diverse portfolio of quality products, programs and management
expertise with 62 resorts. Its brands include Marriott Vacation
Club, The Ritz-Carlton Destination Club and Grand Residences by
Marriott. Since entering the industry in 1984 as part of Marriott
International, Inc., the company earned its position as a leader
and innovator in vacation ownership products. The company preserves
high standards of excellence in serving its customers, investors
and associates while maintaining a long-term relationship with
Marriott International. For more information, please visit
http://www.marriottvacationsworldwide.com.
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SOURCE Marriott Vacations Worldwide