Marriott International announced today its plan to take $760 million in pre-tax impairment charges on its timeshare segment this 3rd quarter. Sharp economic downturns have equated to a major reduction in national consumer spending on travel and leisure activities. Marriott noted that what was already a soft demand for its timeshare products in 2008 has weakened dramatically in 2009.
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Marriott International announced today its plan to take $760 million in pre-tax impairment charges on its timeshare segment this 3rd quarter. Sharp economic downturns have equated to a major reduction in national consumer spending on travel and leisure activities. Marriott noted that what was already a soft demand for its timeshare products in 2008 has weakened dramatically in 2009.
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