A hydroxyl-functional polyester resin composition including the reaction product of (a) a divinylarene dioxide, and (b) at least one dicarboxylic acid; a process for making the hydroxyl-functional polyester resin composition; and a curable hydroxyl-functional polyester resin composition made therefrom. The cured product made from the above curable hydroxyl-functional polyester resin composition is thermally stable and offers improved properties such as a lower viscosity and a high heat resistance compared to known cured products prepared from known epoxy resins.