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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 Corporation (NYSE: VAC) will report its third quarter 2022 financial results after market close on October 31, 2022. A conference call to discuss the results is scheduled for 8:30 a.m. ET on November 1. Participants can join by dialing (877) 407-8289 or via the live webcast available on the company's Investor Relations site. An audio replay will also be accessible from 10:00 a.m. on November 1 until 10:00 p.m. on December 1.
Interval International has announced its long-term affiliation with Club Imperial and three premier properties in Acapulco, significantly expanding its global resort network. This collaboration with Mundo Imperial Entertainment & Hospitality introduces luxurious offerings like Palacio Mundo Imperial, Princess Mundo Imperial, and Pierre Mundo Imperial. Guests will benefit from amenities including golf courses, a spa, and direct access to Acapulco's celebrated attractions. As a result, Club Imperial purchasers will gain Interval membership, unlocking a variety of travel options and benefits.
Marriott Vacations Worldwide Corporation (NYSE: VAC) declared a quarterly cash dividend of $0.62 per share. This dividend will be distributed on or around October 6, 2022 to shareholders on record as of September 22, 2022. This announcement reflects the company's commitment to returning value to shareholders while maintaining its strong position in the vacation ownership market, which includes over 120 resorts and approximately 700,000 owner families globally.
Interval International has announced a long-term affiliation with Branson's Nantucket, LLC, welcoming two luxury waterfront resorts to its global exchange network. This includes Branson's Nantucket Villas and Tower in Missouri, providing owners access to nearly 3,200 resorts worldwide. New purchasers will become Interval Gold® members, gaining various upgraded benefits. The partnership aligns with the timeshare industry's growth, enhancing the vacation experience for owners through exceptional amenities and travel options.
Marriott Vacations Worldwide reported robust Q2 2022 results, with contract sales reaching $506 million, a 40% increase year-over-year. Net income was $136 million, translating to $2.97 per share. Adjusted EBITDA surged 55% to $255 million. The company returned $219 million to shareholders through share repurchases and dividends. They also introduced the Abound by Marriott Vacations program, enhancing offerings for Owners. The full-year guidance estimates net income between $365 million and $395 million.
Marriott Vacations Worldwide Corporation (NYSE: VAC) announced an increase in its stock repurchase authorization by $500 million. In the second quarter of 2022, the company repurchased over 1.4 million shares for $193 million at an average price of $135.77 per share. Following the second quarter, approximately 1.1 million shares were repurchased for $131 million at an average price of $124 per share. After the increase, the total remaining capacity for repurchases stands at $528 million.
Marriott Vacations Worldwide Corporation (NYSE: VAC) is set to release its second quarter 2022 financial results after market close on August 8, 2022. A conference call will be held the following day at 8:30 a.m. ET to discuss the outcomes. Investors can join the call by dialing specific numbers or access it via a live webcast on the company’s Investor Relations website. An audio replay will be available for a month after the conference. Marriott Vacations boasts a significant global presence with over 120 resorts and approximately 700,000 owner families.
Marriott Vacations Worldwide (NYSE: VAC) announced the launch of Abound by Marriott Vacations, a new owner benefit and exchange program, set to debut in summer 2022. This initiative aims to enhance vacation experiences for travelers, particularly targeting Millennials. Abound provides access to over 90 vacation club resorts, 8,000 Marriott Bonvoy hotels, and 2,000 unique experiences. The leisure travel market is projected to reach $1.7 trillion by 2027, positioning this program for success in a growing industry.
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