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Marriott Vacations Worldwide Corporation (symbol: VAC) is a leading independent public company in the vacation ownership industry. With a presence spanning over 60 resorts worldwide, the company serves more than 400,000 owners under well-recognized brands such as Marriott Vacation Club, The Ritz-Carlton Destination Club, and Grand Residences by Marriott. These brands offer luxury vacation packages and accommodations, primarily in the United States, but also across Europe and the Asia Pacific region.
One of the core functions of Marriott Vacations Worldwide is the sale of vacation ownership products. This includes providing luxurious vacation experiences through a portfolio of high-end resorts. The company's offerings also extend to purchase money financing for its customers, facilitating easier access to their vacation services.
Marriott Vacations Worldwide operates through two main segments: Vacation Ownership and Exchange & Third-Party Management. The primary revenue driver is the Vacation Ownership segment, which focuses on the sale of vacation packages and ownership products. The other segment, Exchange & Third-Party Management, involves managing third-party vacation rental properties and exchange services.
Recent achievements include expanding its portfolio with new resorts and enhancing customer experiences through innovative service offerings. The company remains focused on its mission to provide memorable vacation experiences while maintaining financial stability and growth.
For more detailed information, visit the company's official website at marriottvacationsworldwide.com.
Marriott Vacations Worldwide (NYSE: VAC) declared a quarterly cash dividend of $0.76 per share of common stock. The dividend will be paid on or around June 6, 2024, to stockholders of record as of May 23, 2024.
Marriott Vacations Worldwide reported its first quarter 2024 financial results, showing a 1% decrease in consolidated Vacation Ownership contract sales to $428 million compared to the first quarter of 2023. The net income attributable to common stockholders was $47 million, a decline from $87 million in the prior year. Adjusted EBITDA decreased by 8% to $187 million. Despite challenges due to the impact of the Maui wildfires, the company remains optimistic about the future and reaffirms its full-year contract sales and Adjusted EBITDA guidance.
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