Marriott Vacations Worldwide to Participate at the Morgan Stanley Travel & Leisure Conference

Rhea-AI Summary

Marriott Vacations Worldwide (NYSE: VAC) will participate in the Morgan Stanley 2nd Annual Travel & Leisure Conference on June 4, 2024, with CFO Jason Marino featured in a fireside chat at 2:25 p.m. ET. The company reaffirmed its full-year contract sales guidance of $1.88 billion to $1.93 billion, reflecting a 6% to 9% increase year-over-year. Additionally, second-quarter contract sales are expected to rise by 2% to 4%, despite a four-point headwind from the Maui wildfires. A live webcast will be available on the company's Investor Relations website and remain accessible for 60 days.

Positive

• Full-year contract sales guidance reaffirmed at $1.88 billion to $1.93 billion, a 6% to 9% increase from the previous year.
• Second-quarter contract sales expected to rise by 2% to 4%.
• Participation in the prestigious Morgan Stanley 2nd Annual Travel & Leisure Conference adds visibility.

Negative

• Maui wildfires present a four-point headwind affecting second-quarter contract sales.

ORLANDO, Fla.--(BUSINESS WIRE)-- Marriott Vacations Worldwide Corporation (NYSE: VAC) announced today that Jason Marino, Executive Vice President and Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley 2nd Annual Travel & Leisure Conference on June 4, 2024 at 2:25 p.m. ET.

The Company also reaffirmed today its full-year contract sales guidance of $1.88 billion to $1.93 billion, or up 6% to 9% compared to the prior year, and expects second quarter contract sales to be up 2% to 4% compared to the prior year, despite an expected four-point headwind due to the Maui wildfires.

A live webcast will be available in the Investor Relations section of the Company’s website at ir.mvwc.com. The webcast will also be available on the Company’s website for 60 days following the webcast.

About Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation 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 approximately 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 an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and 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 an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.

Note on forward-looking statements

This press release contains “forward-looking statements” within the meaning of federal securities laws, including statements about expectations for contract sales. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “might,” “should,” “could,” “guidance” or the negative of these terms or similar expressions. The Company cautions you that these statements are not guarantees of future performance and are subject to numerous and evolving risks and uncertainties that we may not be able to predict or assess, such as: a future health crisis and responses to a health crisis, including possible quarantines or other government imposed travel or health-related restrictions and the effects of a health crisis, including the short and longer-term impact on consumer confidence and demand for travel and the pace of recovery following a health crisis; variations in demand for vacation ownership and exchange products and services; worker absenteeism; price inflation; difficulties associated with implementing new or maintaining existing technology; changes in privacy laws; the impact of a future banking crisis; impacts from natural or man-made disasters and wildfires, including the Maui wildfires; global supply chain disruptions; volatility in the international and national economy and credit markets, including as a result of the ongoing conflicts between Russia and Ukraine, Israel and Gaza, and elsewhere in the world and related sanctions and other measures; our ability to attract and retain our global workforce; competitive conditions; the availability of capital to finance growth; the impact of changes in interest rates; the effects of steps we have taken and may continue to take to reduce operating costs; political or social strife; and other matters referred to under the heading “Risk Factors” in our most recent Annual Report on Form 10-K, and which may be updated in our future periodic filings with the U.S. Securities and Exchange Commission. All forward-looking statements in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. There may be other risks and uncertainties that we cannot predict at this time or that we currently do not expect will have a material adverse effect on our financial position, results of operations or cash flows. Any such risks could cause our results to differ materially from those we express in forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530878578/en/

Neal Goldner

Investor Relations

407-206-6149

neal.goldner@mvwc.com

Cameron Klaus

Global Communications

407-513-6606

cameron.klaus@mvwc.com

Source: Marriott Vacations Worldwide Corporation

FAQ

What is the date and time of Marriott Vacations Worldwide's participation in the Morgan Stanley Travel & Leisure Conference?

Marriott Vacations Worldwide will participate in the Morgan Stanley 2nd Annual Travel & Leisure Conference on June 4, 2024, at 2:25 p.m. ET.

What is Marriott Vacations Worldwide's full-year contract sales guidance?

Marriott Vacations Worldwide has reaffirmed its full-year contract sales guidance of $1.88 billion to $1.93 billion.

How is Marriott Vacations Worldwide's second-quarter contract sales expected to perform?

Second-quarter contract sales are expected to increase by 2% to 4%.

What external factor is affecting Marriott Vacations Worldwide's second-quarter contract sales?

The Maui wildfires are presenting a four-point headwind affecting second-quarter contract sales.

Where can I view the live webcast of Marriott Vacations Worldwide at the Morgan Stanley Conference?

The live webcast will be available in the Investor Relations section of the company's website at ir.mvwc.com and will remain accessible for 60 days following the event.