MARRIOTT VACATIONS WORLDWIDE CORPORATION - VAC STOCK NEWS

On April 21, 2023, Marriott Vacations Worldwide (NYSE: VAC) was honored with 11 awards by the American Resort Development Association (ARDA), recognizing excellence across various sectors, including marketing, management, and resort design. Notably, the company set a record with 57 nominations, with ARDA selecting 36 finalists. Key award recipients included David Calvert as ACE Employee of the Year and the Interval International IT Team for notable technological accomplishments. Marriott Vacations emphasized that the dedication of its associates contributed significantly to its success in 2022, where it previously garnered seven awards from 17 finalists. This recognition reinforces Marriott's leadership in the timeshare industry.

Open Network Exchange has appointed Lani Kane-Hanan as the new CEO, effective late June 2023. She brings over 30 years of experience from her previous role as EVP and Chief Development & Product Officer at Marriott Vacations Worldwide (NYSE:VAC). Kane-Hanan's leadership is expected to bolster ONE’s innovation and growth strategies while enhancing its digital solutions across various sectors. John Rowley, the current CEO, will transition to Executive Chairman to support her leadership and provide continuity. The company anticipates that Kane-Hanan’s extensive expertise in product development will expand ONE's offerings and solidify its market position.

Interval International has renewed a long-term partnership with Divi Caribbean Club, covering seven resorts across Aruba, Barbados, Bonaire, and St. Maarten. This multi-year agreement aims to enhance offerings for Divi Vacation Club members through a range of services, including ongoing support and reservation services.

Members will gain access to Interval Platinum® benefits, providing enhanced vacation experiences. Interval has noted that the Caribbean is a preferred destination for its members and sees value in the collaboration.

Both parties express enthusiasm for continued growth and improved vacation experiences for guests, emphasizing significant investments and customer satisfaction.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has successfully completed its first timeshare receivable securitization of 2023, amounting to $380 million. This transaction, named the 2023-1 Securitization, backed by approximately $388 million of vacation ownership loans, showcases a strong gross advance rate of 98% and a weighted average interest rate of 5.52%. The securitization comprises four classes of notes, with Class A Notes carrying an interest rate of 4.93%. The company plans to utilize proceeds to reduce outstanding credit facility obligations and for general corporate purposes. Executives expressed satisfaction with investor demand, reflecting confidence in the company's leisure-focused business model.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will announce its financial results for the first quarter of 2023 after market hours on May 3. A conference call to discuss these results is scheduled for 8:30 a.m. ET on May 4, accessible via phone at (877) 407-8289 or (201) 689-8341 for international callers. A live webcast will also be available through the company's Investor Relations page. An audio replay of the call will be accessible from 10 a.m. ET on May 5 to 10 p.m. ET on June 4 using the same dial-in numbers and conference ID 13737056.

Marriott Vacations offers a wide range of vacation ownership and management services, operating over 120 resorts and serving approximately 700,000 owner families globally.

Marriott Vacations Worldwide (NYSE: VAC) has announced the launch of The Marriott Vacation Clubs™, unifying its vacation ownership brands, including Marriott Vacation Club®, Sheraton® Vacation Club, and Westin® Vacation Club. This initiative aims to streamline leisure travel options for Marriott Bonvoy members and general travelers, featuring over 90 premium resorts globally. The new marketing campaign, More Vacations to Love, emphasizes personalized experiences tailored to modern travelers, especially younger demographics. Owners can take advantage of the Abound by Marriott Vacations™ program, which allows seamless travel among brands and access to various leisure experiences. Through this rebranding, Marriott seeks to enhance understanding of its vacation offerings, catering to diverse traveler needs across various destinations.

Aqua-Aston Hospitality, part of Marriott Vacations Worldwide, has announced new initiatives for 2023 focusing on sustainability and wellness. Key highlights include conversions of Hawaii properties to bulk bathroom amenities, reducing single-use plastics, and energy consumption renovations at Aqua Palms Waikiki aimed at achieving a 45% reduction. The company also debuted the Botánika Osa Peninsula in Costa Rica, offering yoga and wellness programs. Additionally, ADERO Scottsdale Resort introduced new rooms with Peloton Bikes. Aqua-Aston continues to support local culture by offering complimentary access to museums for guests in Oahu.

Marriott Vacations Worldwide Corporation (NYSE: VAC) reported a strong fourth quarter and full year 2022. Consolidated Vacation Ownership contract sales reached $454 million, up 12% year-over-year, with net income attributable to shareholders at $88 million or $2.08 per share. For the full year, contract sales were $1.84 billion, a 34% increase, while net income totaled $391 million, or $8.77 per share. The company anticipates contract sales growth of 5% to 9% in 2023, with adjusted EBITDA expected between $950 million and $1 billion. Notable impacts in 2022 included approximately $13 million in lost sales due to hurricanes.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has declared a quarterly cash dividend of $0.72 per share, set to be paid on or around March 16, 2023. Shareholders on record as of March 2, 2023 will be eligible for this distribution. The decision reflects the Board's confidence in the company's growth strategy and commitment to delivering value to its shareholders. Marriott Vacations, a leader in the vacation ownership sector, operates over 120 resorts and serves approximately 700,000 owner families worldwide.