NEW YORK (Standard&Poor's) Feb. 14, 2011--Standard&Poor's Ratings Services said today that its rating on Marriott International Inc. (BBB/Stable/--) would not be affected at this time by the company's announcement that it plans to spin off its timeshare business as a stand alone publicly traded entity by the end of 2011. (Watch related CreditMatters TV segment titled, "Marriott's Timeshare Spin-Off: The Implications," dated Feb. 16, 2011.) Marriott's timeshare business has become a source of cash flow for the company over the past two years, including proceeds from term securitizations in 2009 and 2010. In addition, Marriott is a leading operator of quality timeshare resorts, and over the next few years, we believe the timeshare industry will likely
