STOCK TITAN

Marriott Vacation Club Announces Reservations Start For Proposed New Resort In Costa Rica

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Marriott Vacation Club, part of Marriott Vacations Worldwide (NYSE: VAC), has announced that reservations will start for their new resort in Costa Rica, slated for occupancy in January 2021. This will mark the brand's first venture in Central America, featuring 24 two-bedroom lock-off villas within the Los Sueños Resort and Marina. Owners will benefit from amenities like a free-form pool, spa, and nearby golfing opportunities. The resort is developed in partnership with CPG Hospitality and Enjoy Group, pending completion of acquisition.

Positive
  • Introduction of a new resort in Costa Rica, increasing market presence.
  • The resort features 24 two-bedroom lock-off villas, appealing to a broad customer base.
  • Access to extensive amenities, including pools, spas, and golf, enhancing guest experience.
Negative
  • Development contingent on completion of acquisition from CPG Hospitality and Enjoy Group.

ORLANDO, Fla., Nov. 23, 2020 /PRNewswire/ -- Marriott Vacation Club — a global industry leader in Vacation Ownership and brand of Marriott Vacations Worldwide (NYSE: VAC) — announced today that reservations will commence for its proposed resort in Costa Rica, Marriott Vacation Club at Los Sueños, for occupancy in January 2021. This resort will be the first in Central America for Marriott Vacation Club and will offer 24 spacious two-bedroom lock-off villas. The villas are located within the exclusive, 1,110-acre, master planned community of Los Sueños Resort and Marina and within the Los Sueños Marriott Ocean & Golf Resort complex. Marriott Vacation Club at Los Sueños is expected to be available through the Marriott Vacation Club Destinations Exchange Program as an exchange option and also to be available for guest rentals through MarriottVacationClub.com. Timeshare sales for Marriott Vacation Club at Los Sueños are planned to launch in January 2021.

"We are excited to offer the highly sought-after destination of Costa Rica to our Owners and guests," said Brian Miller, president of Vacation Ownership, Marriott Vacations Worldwide. "The villas at this stunning resort will provide the comforts of home with authentic architectural touches that bring the rejuvenating landscape of the region indoors. Additionally, in early spring we plan to debut an innovative sales gallery concept that uniquely complements the area's natural surroundings while also delivering another important sales distribution center to support our growth strategy."

Marriott Vacation Club Owners and guests will enjoy access to amenities found at the Los Sueños Marriott Ocean & Golf Resort, including an expansive free-form pool that winds through the resort, a sprawling beach, the Sibö Rainforest Spa & Retreat, illuminated tennis courts, mini golf, the Tortuga Kids Club, and five restaurants, including Hacienda Kitchen that showcases the traditional flavors of Costa Rica. Also located within the Los Sueños Resort and Marina is the La Iguana Golf Club, an 18-hole championship golf course nestled among the tropical landscape of the lush Green Coast and the blue waters of the Pacific Ocean. For Owners and guests who want to explore the welcoming local culture and shopping options, the Marina Village features a 200-slip marina, waterfront restaurants, shops, and services all within walking distance of Marriott Vacation Club at Los Sueños.

And for Owners and guests who want to experience a true Costa Rican vacation, unforgettable adventures await. Whether it's exploring nearby Jaco — an energetic beach town known for its outstanding surfing, restaurants, bars, and boutique shopping — or marveling in the natural beauty of Manuel Antonio National Park — with its beaches, casual forest trails, and dense rainforests — each family member will cherish the memories of this ideal vacation experience. And for those looking for the perfect catch, renowned sport fishing is just a few minutes away. The nearby coastline is home to some of the best offshore marlin fishing in the world.  

The resort is being developed by a partnership of CPG Hospitality and Enjoy Group, two of the leading hospitality investment and management companies in the region, which also own the Los Sueños Marriott Ocean & Golf Resort. This affiliation and occupancy are subject to Marriott Vacation Club completing the purchase of the new resort from CPG Hospitality and Enjoy Group.

About Marriott Vacation Club
Marriott Vacation Club is a global industry leader in vacation ownership with a diverse portfolio of 61 resorts and more than 13,000 vacation villas throughout the U.S., Caribbean, Europe, Asia and Australia. Marriott Vacation Club's point-based vacation ownership program provides Owners and their families with the flexibility to enjoy high-quality vacation experiences. Follow us on Twitter.com/MarriottVacClub and Facebook at Facebook.com/marriottvacationclub.  

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/marriott-vacation-club-announces-reservations-start-for-proposed-new-resort-in-costa-rica-301178954.html

SOURCE Marriott Vacation Club

FAQ

When will reservations for the new Marriott Vacation Club resort in Costa Rica start?

Reservations for the Marriott Vacation Club at Los Sueños will commence in January 2021.

What are the features of the Marriott Vacation Club at Los Sueños?

The resort will feature 24 two-bedroom lock-off villas and access to amenities such as a pool, spa, and restaurants.

Is Marriott Vacation Club expanding its presence in Central America?

Yes, the new resort in Costa Rica will be Marriott Vacation Club's first in Central America.

What is the expected impact of the new resort on Marriott Vacations Worldwide (VAC)?

The new resort may enhance VAC's market presence and revenue potential through increased vacation ownership sales.

MARRIOTT VACATIONS WORLDWIDE CORPORATION

NYSE:VAC

VAC Rankings

VAC Latest News

VAC Stock Data

3.18B
34.91M
8.39%
89.25%
5.03%
Resorts & Casinos
Real Estate Agents & Managers (for Others)
Link
United States of America
ORLANDO