Marriott cut funding projects fractional ownership

hotel chains operator Marriott and Ritz-Carlton, Marriott International, reduces investment volumes in the fractional ownership scheme because of an overabundance of high-quality real estate and low demand. The company plans to reduce the cost of housing units to rebuild some of the apartments to be used for other purposes and to sell undeveloped plots of land. The main income of the property, is available in fractional ownership, timeshare at the Marriott gets the projects being implemented in the US, which is now worth 5% of the total profit of the company, while they offered 25% in 2007. The segment of real estate known as the Ritz-Carlton Destination Club, brings a 10% profit. In recent years, Marriott increased profitability of its traditional timeshare business in the United States by reducing the costs and the rejection of the new projects. On this Site www.reuters.com/