MARRIOTT VACATIONS WORLDWIDE CORPORATION - VAC STOCK NEWS

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.

Marriott Vacations Worldwide Corporation (NYSE: VAC) reported strong financial results for Q3 2021, achieving $380 million in vacation ownership contract sales, 25% growth in Adjusted EBITDA to $205 million, and net income of $10 million ($0.23 EPS). Remarkably, contract sales approached pre-pandemic levels, with first-time buyers contributing over 30%. The company anticipates Q4 contract sales between $385 million and $405 million, supported by robust bookings. A $250 million share repurchase program and a quarterly dividend of $0.54 per share were also announced.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has appointed Jonice Gray Tucker to its board of directors, effective November 2, 2021. Ms. Tucker, a partner at Buckley LLP with expertise in financial services and technology, expands the board to 11 members. Her experience includes leadership roles in banking law and consumer protection, which the company anticipates will support future growth. Marriott Vacations Worldwide operates nearly 120 resorts and serves over 700,000 owners and members globally, highlighting its leading position in the vacation ownership industry.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced the promotion of Anthony "Tony" Terry to the role of executive vice president and chief financial officer, effective October 16, 2021. Terry, a 25-year veteran with extensive experience in financial management, previously served as Senior Vice President of Global Operational Finance. This move reflects the company's commitment to leadership development and growth, allowing President John E. Geller, Jr. to focus on long-term strategies. Terry's leadership is expected to enhance profitability and innovation amid ongoing business transformation.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its third quarter 2021 financial results on November 8, 2021, before the market opens. The company will hold a conference call at 8:30 a.m. ET to discuss the results. Participants can join the call by calling (877) 407-8289 or (201) 689-8341 for international callers. A live webcast will also be available on the company's Investor Relations website. An audio replay of the call will be accessible from 10:00 a.m. on November 8 to 10:00 p.m. on December 8, 2021.