Marriott Plans St. Kitts Timeshares

Marriott International plans a vacation timeshare development on St. Kitts, its fourth timeshare property in the Caribbean.

Marriott's Marriott Vacation Club International will develop the complex on the same property as the St. Kitts Marriott Resort & Royal Beach Casino. The eight, three-story buildings will contain a total of 88 two- and three-bedroom timeshare units. The timeshares will sell for $16,400 to $69,500 per week, depending on the size and season.

Marriott Vacation Club International also has two timeshares on Aruba and will open one later this year on St. Thomas. Marriott International also operates 15 hotels in the Caribbean.

Marriott (NYSE: MAR) entered the timeshare business in 1984 when it acquired a resort on Hilton Head Island. It now runs about four dozen timeshare properties throughout the United States, Europe and Asia.

The company gets about 25 percent of its income from continuing operations from its timeshare business.

In addition to the St. Kitts property, Marriott expects to bring properties on line this quarter in Kapalua, Hawaii, Miami Beach and San Francisco.