Interval Leisure Group to Acquire Starwood Hotels and Resorts’ Vacation Ownership Business to Create Leading, Integrated Shared Ownership Company

MIAMI & STAMFORD, Conn.--(BUSINESS WIRE)--Interval Leisure Group (Nasdaq:IILG) (“ILG”), and Starwood Hotels and Resorts Worldwide, Inc. (NYSE:HOT) (“Starwood”) today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which a wholly owned subsidiary of ILG will acquire and then merge with and into Vistana Signature Experiences (“Vistana”). The combination, which will follow completion of the planned spin-off of Vistana from Starwood announced on February 10, 2015, has a total value to Starwood of approximately $1.5 billion.