Marriott Vacations Worldwide C - VAC STOCK NEWS

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its Q2 2021 financial results on July 28, 2021, after market close. A conference call to discuss the results is scheduled for 8:30 a.m. ET on July 29, 2021. Participants can join by calling (877) 407-8289 or via international line (201) 689-8341. The live webcast will be accessible on the company's Investor Relations website. An audio replay will be available beginning at 10:00 a.m. on July 29 until 10:00 p.m. on August 29, 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) updated its outlook for Q2 2021 during the Jefferies Virtual Consumer Conference. The company reports a strong recovery, with occupancies and tours increasing sequentially. Contract sales are now expected to be between $345 million and $355 million, up from prior guidance of $320 million to $340 million. This reflects a 55% sequential increase from Q1 2021. Reservations for the second half of 2021 are over 15% higher compared to 2019 levels. Q2 financial results are anticipated on or around July 28, 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will participate in a fireside chat at the Jefferies Virtual Consumer Conference on June 23, 2021, at 9:10 a.m. ET. The session will feature CEO Stephen P. Weisz and CFO John Geller. A live webcast will be accessible on the company's Investor Relations website and will remain available for 30 days post-event. Marriott Vacations Worldwide operates nearly 120 resorts, serves over 700,000 Owners and Members globally, and maintains partnerships with Marriott International and Hyatt Hotels.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has priced a private placement of $500 million in 4.500% Senior Notes due 2029. The funds will primarily be used to redeem $500 million of existing 6.500% Senior Notes due 2026 and cover transaction fees. The offering is limited to qualified institutional buyers and non-U.S. persons, adhering to securities regulations. Marriott Vacations is a leader in vacation ownership, with a portfolio of nearly 120 resorts and over 700,000 members globally.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced an intention to offer $450 million in senior notes due 2029 through its subsidiary, Marriott Ownership Resorts, Inc. The proceeds will be used to redeem $450 million of outstanding senior notes due 2026 and to cover related transaction expenses. The offering targets qualified institutional buyers and is not open to U.S. persons without exemption from registration. The company’s financial health could be impacted by economic conditions and competition, particularly in light of challenges posed by the COVID-19 pandemic.

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced the completion of its first timeshare receivable securitization of 2021, issuing $425 million in notes backed by $434 million in vacation ownership loans. This offering achieved the lowest interest rate for MVW's 144A securitization at 1.52%. The securitized notes include $207 million Class A Notes at 1.14%, Class B Notes of $107 million at 1.44%, and others. Proceeds will fund general corporate purposes and redeem previous transactions of approximately $72 million.

Marriott Vacations Worldwide (NYSE: VAC) reported Q1 2021 financial results with $226 million in contract sales, marking a 27% sequential increase. The company anticipates contract sales to rise to $320-$340 million in Q2. Despite a net loss of $28 million (or $0.68 per share), adjusted EBITDA was $69 million. Liquidity stands at $1.4 billion post-acquisition of Welk Resorts. Vacation Ownership revenue decreased 30% year-over-year but increased 14% sequentially. The exchange segment saw a 16% drop in revenue year-over-year, but improved from Q4 2020.

Marriott Vacations Worldwide Corporation (NYSE: VAC) is set to release its Q1 2021 financial results on May 5, 2021, after market close. A conference call discussing the results will occur on May 6, 2021, at 8:30 a.m. ET. Investors can participate by calling the provided numbers or accessing the live webcast available in the Investor Relations section of their website. An audio replay will also be available from May 6 to June 6. Marriott Vacations is a global leader in vacation ownership with approximately 120 resorts and over 700,000 Owners and Members.

Marriott Vacations Worldwide (NYSE: VAC) has finalized its acquisition of Welk Resorts for $485 million, which includes about 1.4 million MVW shares. This strategic move expands MVW's presence significantly, particularly increasing the Hyatt Residence Club's portfolio by 50% with the addition of eight upscale resorts and enhancing customer offerings with 24 vacation properties totaling nearly 3,000 keys. The acquisition positions MVW for substantial future growth and offers additional amenities for over 55,000 owners.