Marriott Vacations Worldwide C - VAC STOCK NEWS

On February 25, 2022, Interval International announced a multi-site affiliation with Grupo El Cid Resorts, enhancing the El Cid Vacations Club. This agreement includes five existing resorts in Mazatlán and Puerto Morelos, with potential for future developments. New purchasers will receive upgraded membership benefits such as flexible exchange options and various leisure services. The properties are recognized for their exceptional service and have received prestigious awards, reflecting their commitment to providing memorable vacation experiences.

Marriott Vacations Worldwide reported strong fourth quarter results for 2021, with contract sales of $406 million, marking a 7% increase from the previous quarter and exceeding 2019 levels. The company anticipates contract sales for 2022 will be 13% higher than 2019 levels, with adjusted EBITDA expected to rise 17%. Full-year 2021 contract sales totaled nearly $1.4 billion, with net income at $49 million. The company maintained a robust liquidity position of $1.1 billion at year-end, despite a debt increase to $4.5 billion. The outlook for 2022 includes adjusted EPS guidance of $8.72 to $9.65.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced a quarterly cash dividend of $0.62 per share, marking a 15% increase from the previous dividend. This dividend is set to be paid on or around March 17, 2022, to shareholders on record as of March 3, 2022. Additionally, the company has authorized an increase in its stock repurchase program by $300 million, bringing the total available for repurchase to $445 million.

Interval International has announced the addition of eight upscale Welk Resorts locations across California, Colorado, Missouri, and Cabo San Lucas, Mexico. This expansion provides over 39,000 Welk Owners with access to Interval's extensive network of more than 3,200 resorts. Welk Owners will be enrolled as Interval Gold members, gaining flexible exchange options and upgraded benefits, including hotel stays and cruise bookings. Interval International is part of Marriott Vacations Worldwide (NYSE: VAC), which enhances its offerings with high-quality accommodations and services.

Marriott Vacations Worldwide (NYSE: VAC) announced fourth quarter 2021 contract sales of $406 million, exceeding previous guidance. The Vacation Ownership segment saw strong occupancies and increased volume per guest, well above pre-pandemic levels. CEO Stephen P. Weisz noted a minor impact from the Omicron variant in January but remains optimistic about future trends. The company will report full financial results on February 23, 2022, with a conference call on February 24, 2022.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has declared a quarterly cash dividend of $0.54 per share, set to be paid on or around January 6, 2022. Shareholders of record by the close of business on December 23, 2021 will receive this dividend. This reflects the company's ongoing commitment to returning value to its shareholders amidst a robust portfolio of vacation ownership and related services.

Disney Vacation Development has partnered with Interval International to affiliate 15 Disney Vacation Club resorts across Florida, California, Hawai'i, and South Carolina, reinstating a collaboration from 1995. Effective January 1, 2022, DVC Members will gain access to Interval's extensive network of over 3,200 vacation properties. This agreement enhances member benefits, including short-stay exchanges and travel concierge services. Disney Vacation Club has served over 250,000 member families since its inception in 1991, emphasizing a commitment to unique vacation experiences.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has successfully completed its second timeshare receivable securitization of 2021, issuing $425 million in notes backed by approximately $434 million of vacation ownership loans. The transaction features a weighted average interest rate of 1.64%, with a gross advance rate of 98%. Notes were categorized into three classes: Class A ($265 million at 1.43%), Class B ($95 million at 1.83%), and Class C ($65 million at 2.23%). Proceeds will be allocated to loan purchases, debt repayment, transaction costs, and general corporate purposes.