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MARRIOTT VACATIONS WORLDWIDE CORPORATION - VAC STOCK NEWS

Welcome to our dedicated page for MARRIOTT VACATIONS WORLDWIDE CORPORATION news (Ticker: VAC), a resource for investors and traders seeking the latest updates and insights on MARRIOTT VACATIONS WORLDWIDE CORPORATION stock.

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.

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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.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its fourth quarter 2022 financial results on February 22, after market close. Following the announcement, a conference call will take place at 8:30 a.m. ET on February 23 to discuss these results. Participants can join the call by calling (877) 407-8289 (international: (201) 689-8341) or via the live webcast available on the Investor Relations section of the company's website. An audio replay of the call will be accessible starting February 24 until March 23.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) announced the promotion of Stephanie Sobeck Butera to Executive Vice President and Chief Operating Officer of Hyatt Vacation Ownership. With nearly 25 years of industry experience, Butera has held various leadership roles within the company, notably leading the integration of Welk Resorts after its acquisition. John E. Geller, the new President and CEO, emphasized her capability to navigate challenging business environments. This appointment is part of MVW's commitment to leadership development.

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Marriott Vacations Worldwide (NYSE: VAC) has established the Stephen P. Weisz Endowed Scholarship to support hospitality students at the University of Central Florida (UCF) in honor of retiring CEO Stephen Weisz. This $250,000 endowment will provide two $5,000 scholarships annually, starting Fall 2023, for students demonstrating academic success and community commitment. The initiative also unlocks a $50,000 matching grant from the UCF Challenge, totaling a $300,000 investment aimed at enhancing student opportunities at UCF's renowned Rosen College.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) announced a private offering of $500 million in 3.25% convertible senior notes due 2027. The offering will close on December 8, 2022, with an option for initial purchasers to buy an additional $75 million. Proceeds will be used to cover convertible note hedge costs, redeem 2025 Secured Notes, repay revolving credit, repurchase shares at $143.13 each, and settle associated expenses. The notes carry a conversion premium of approximately 32.5%. Interest payments start June 15, 2023.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) announced plans to offer $500 million in convertible senior notes due 2027. The offering is aimed at qualified institutional buyers and could increase by an additional $75 million. Proceeds will be used to redeem existing secured notes, repay credit facility borrowings, repurchase shares, and cover transaction expenses. The company will engage in hedge transactions to mitigate dilution risk upon conversion of the notes. The offering has not been registered under the Securities Act.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced a quarterly cash dividend of $0.72 per share, reflecting a 16% increase from the previous dividend. The dividend is scheduled for payment on or around January 5, 2023, to shareholders on record as of December 22, 2022. CEO Stephen P. Weisz expressed confidence in the company's business model and cash flow strength, highlighting optimism for future growth.

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Marriott Vacation Club has inaugurated the Marriott’s Bali Nusa Dua Terrace, its second vacation ownership property in Bali, enhancing its presence in the Asia-Pacific market. Located in Nusa Dua, the resort features 88 luxury apartments, ranging from one to three bedrooms, and offers premium amenities including private plunge pools and a full-service spa. This expansion aligns with the rising popularity of Bali as a top travel destination, as noted by Tripadvisor. The new property caters to the growing demand for flexible vacation options among travelers seeking unique experiences.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) announced the completion of its second timeshare receivable securitization of 2022, raising $280 million through the issuance of notes backed by approximately $286 million in vacation ownership loans. The securitization involved four classes of notes, with varying interest rates, and a weighted average interest rate of 6.58 percent. Proceeds from the securitization will be used for debt repayment and general corporate purposes. This strategic move strengthens the company's financial position while managing credit obligations.

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Marriott Vacations Worldwide Corporation (NYSE: VAC) reported strong third quarter 2022 results, driven by a 27% increase in consolidated vacation ownership contract sales, amounting to $483 million. The alignment of contract terms under the new Abound by Marriott Vacations program contributed an extra $33 million in net income and $44 million in Adjusted EBITDA. Net income attributable to common shareholders reached $109 million, or $2.53 EPS, while adjusted EPS was $3.02. The company also repurchased nearly 1.7 million shares for $216 million, returning over $600 million in cash to shareholders this year.

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FAQ

What is the current stock price of MARRIOTT VACATIONS WORLDWIDE CORPORATION (VAC)?

The current stock price of MARRIOTT VACATIONS WORLDWIDE CORPORATION (VAC) is $90.24 as of December 20, 2024.

What is the market cap of MARRIOTT VACATIONS WORLDWIDE CORPORATION (VAC)?

The market cap of MARRIOTT VACATIONS WORLDWIDE CORPORATION (VAC) is approximately 3.2B.

What is Marriott Vacations Worldwide Corporation?

Marriott Vacations Worldwide Corporation is a leading independent public company specializing in vacation ownership experiences. It operates over 60 resorts worldwide under brands like Marriott Vacation Club, The Ritz-Carlton Destination Club, and Grand Residences by Marriott.

What brands does Marriott Vacations Worldwide Corporation own?

The company owns brands such as Marriott Vacation Club, The Ritz-Carlton Destination Club, and Grand Residences by Marriott.

Where are Marriott Vacations Worldwide Corporation's resorts located?

Most of the company's resorts are located in the United States, with additional properties in Europe and the Asia Pacific region.

What are the main segments of Marriott Vacations Worldwide Corporation?

The company operates in two main segments: Vacation Ownership and Exchange & Third-Party Management.

How does Marriott Vacations Worldwide Corporation generate revenue?

The majority of the company's revenue comes from the sale of vacation ownership products and packages under the Vacation Ownership segment.

Does Marriott Vacations Worldwide Corporation offer financing options?

Yes, the company offers purchase money financing to customers who buy its vacation ownership products.

How many owners does Marriott Vacations Worldwide Corporation serve?

The company serves over 400,000 owners.

What recent achievements has Marriott Vacations Worldwide Corporation made?

Recent achievements include expanding its portfolio with new resorts and enhancing customer experiences through innovative service offerings.

Where can I find more information about Marriott Vacations Worldwide Corporation?

For more information, visit the company's official website at marriottvacationsworldwide.com.

What is the primary focus of Marriott Vacations Worldwide Corporation?

The primary focus is to provide luxurious and memorable vacation ownership experiences through its diverse portfolio of high-end resorts.

MARRIOTT VACATIONS WORLDWIDE CORPORATION

NYSE:VAC

VAC Rankings

VAC Stock Data

3.16B
31.97M
8.39%
86.43%
5.44%
Resorts & Casinos
Real Estate Agents & Managers (for Others)
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United States of America
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