Introducing Abound by Marriott Vacations™

Rhea-AI Summary

Marriott Vacations Worldwide (NYSE: VAC) announced the launch of Abound by Marriott Vacations, a new owner benefit and exchange program, set to debut in summer 2022. This initiative aims to enhance vacation experiences for travelers, particularly targeting Millennials. Abound provides access to over 90 vacation club resorts, 8,000 Marriott Bonvoy hotels, and 2,000 unique experiences. The leisure travel market is projected to reach $1.7 trillion by 2027, positioning this program for success in a growing industry.

Positive

• Launch of Abound by Marriott Vacations, aimed at enhancing vacation experiences.
• Targets Millennials, who constitute about 25% of first-time vacation ownership buyers.
• Access to over 90 vacation club resorts and substantial additional offerings.

Negative

• None.

A Vacation Ownership Program Designed to Make Vacationing Even Better 

ORLANDO, Fla., June 16, 2022 /PRNewswire/ -- Marriott Vacations Worldwide (NYSE: VAC), a leader in leisure travel with a portfolio of trusted, globally-recognized travel brands and vacation clubs, is introducing Abound by Marriott Vacations™ ("Abound"), a new Owner benefit and exchange program set to debut this summer.   

With spend on leisure travel projected to reach $1.7 trillion by 2027*, the new program is launching at the ideal time. It is designed to offer more destinations, more brands, and more choices that make vacationing even better for all travelers, particularly Millennials who see travel as a key aspiration** and who represent nearly a quarter of the company's first-time vacation ownership buyers.

Abound by Marriott Vacations™ provides access to over 90 vacation club resorts across Marriott Vacation Club^®, Sheraton^® Vacation Club and Westin^® Vacation Club, as well as access to more than 8,000 Marriott Bonvoy hotels, 2,000 vacation homes, and 2,000 unique experiences like cruises, guided and culinary tours, premiere events, outdoor adventures and more with a continued ability to exchange through Interval International, a premier exchange partner.  

"We are incredibly excited to debut Abound by Marriott Vacations, which is our gateway for enrolled vacation Owners to embark on exceptional travel adventures around the globe, helping them make a lifetime of meaningful vacation moments with those they care about most," said President of Marriott Vacations Worldwide, John E. Geller, Jr.

With the start of summer just around the corner, and leading up to the official launch of Abound, the company is previewing a video to help create the sense of excitement that comes when planning an incredible vacation experience.

While each resort and city property available within the Abound resort portfolio offers its own distinctive brand and sense of place, together they give travelers an abundance of experiences and access, which people value as part of their life experience. 

At launch, travelers interested in learning more will be able to visit a new website featuring an overview of available experiences, information on the benefits of vacation ownership, features of each resort, and an inspirational blog with travel tips and ideas. For those interested in immersing themselves in the endless vacation possibilities with these brands now, follow Marriott Vacation Club^®, Sheraton^® Vacation Club and Westin^® Vacation Club on social media. 

About Marriott Vacations Worldwide Corporation 

Marriott Vacations Worldwide Corporation (NYSE: VAC) is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products, and services. The Company has over 120 vacation ownership resorts and approximately 700,000 Owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates exchange networks and membership programs comprised of nearly 3,200 affiliated resorts in over 90 countries and territories, as well as provides management services to other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International, Inc. and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com. 

Sources: *Allied Market Research and **Deloitte
https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/gen-Z-and-millennial-travel-the-wanderlust-generations.html

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SOURCE Marriott Vacations Worldwide Corporation

FAQ

What is Abound by Marriott Vacations?

Abound by Marriott Vacations is a new owner benefit and exchange program launched by Marriott Vacations Worldwide, offering enhanced travel experiences.

When was Abound by Marriott Vacations announced?

Abound by Marriott Vacations was announced on June 16, 2022.

How does Abound benefit vacation owners?

Abound provides vacation owners access to over 90 vacation club resorts, 8,000 Marriott Bonvoy hotels, and various unique experiences.

What market trend supports the launch of Abound?

The leisure travel market is projected to reach $1.7 trillion by 2027, creating a favorable environment for the launch of Abound.

Who is the target demographic for Abound by Marriott Vacations?

Abound targets Millennials, who are increasingly prioritizing travel and represent a significant portion of first-time vacation ownership buyers.