Marriott Vacations Worldwide C - VAC STOCK NEWS

Marriott Vacations Worldwide Corporation (NYSE: VAC) has appointed Lori Gustafson as the new executive vice president and chief brand and digital strategy officer. She will be responsible for enhancing the company’s global brand presence and driving digital innovation to improve customer satisfaction. Gustafson has extensive experience in the industry, having previously worked for Wyndham Destinations and SeaWorld Parks & Entertainment. Her role indicates a strategic focus on digital capabilities, aiming to transform customer experiences as the company continues to expand its offerings.

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.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced that John Geller, the executive vice president and chief financial and administrative officer, will take part in a fireside chat during the Barclays Eat, Sleep, Play Conference on December 2, 2020, at 1:00 p.m. ET. A live webcast will be accessible in the Investor Relations section of the company's website and will remain available for 30 days following the event. Marriott Vacations is recognized as a leading vacation company, managing a diverse portfolio including vacation ownership and rental services.

Marriott Vacations Worldwide (NYSE: VAC) reported a third-quarter 2020 net loss of $62 million, equating to a $1.51 loss per share. Despite a challenging environment, the company saw a recovery in occupancy rates, leading to $140 million in contract sales. The outlook for the fourth quarter anticipates contract sales to rise to $160-$185 million. Adjusted EBITDA for the quarter was $35 million, while cash and equivalents stood at $660 million. The company has also enhanced its synergy savings target to $200 million. However, a workforce reduction plan is expected to impact around 3,000 associates.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its third-quarter 2020 financial results after market close on November 4, 2020. A conference call to discuss these results is scheduled for 8:30 a.m. ET on November 5, 2020. Participants can join the call by dialing (877) 407-8289 or (201) 689-8341 for international access. A live webcast will be available on their Investor Relations website, with an audio replay from 10:00 a.m. on November 5 until 10:00 p.m. on December 5. For more details, visit their official site.

Marriott Vacations Worldwide (NYSE: VAC) supports the U.S. Travel Association's "Let's Go There" campaign, aimed at reigniting travel interest post-lockdown. Launched on September 8, 2020, the campaign highlights the wellness benefits of planning vacations. Polls by happiness researcher Michelle Gielan show that 97% of respondents feel happier with trips planned. Marriott is committed to ensuring guest safety with new cleaning standards across its 21,000+ vacation accommodations globally, promoting a safe environment for travelers. The campaign extends into 2021, focusing on family travel experiences.

Marriott Vacations Worldwide (NYSE: VAC) has launched the More Space, Happy Place campaign to promote its vacation ownership villas across Marriott Vacation Club, Westin Vacation Club, Sheraton Vacation Club, and Vistana brands. The initiative emphasizes spacious accommodations that allow guests to maintain social distancing while enjoying family-friendly amenities like fully equipped kitchens. The company is also reinforcing its Commitment to Clean protocols, ensuring health and safety measures are in place for guests. This campaign aims to instill confidence in vacationers as they return to their favorite destinations.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced participation in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Conference on September 15, 2020, at 9:40 a.m. ET. Key executives including Stephen P. Weisz, John Geller, and Neal Goldner will take part in a fireside chat. A live webcast will be accessible via the Investor Relations section of the company's website and will remain available for 30 days post-event.

Marriott Vacations Worldwide Corporation (NYSE: VAC) reported a challenging second quarter in 2020, heavily impacted by the COVID-19 pandemic. Total contract sales in Vacation Ownership fell to $30 million, a 92% drop compared to the previous year. The net loss attributable to shareholders was $70 million, or $1.68 per share. However, the company is optimistic, noting a recovery in resort occupancies and reopening 70% of its sales centers. They anticipate positive cash flow in the latter half of 2020 and issued $375 million in notes post-quarter end to enhance liquidity.