Marriott Vacations Worldwide C Stock Price, News & Analysis

Marriott Vacations Worldwide (NYSE: VAC) has announced its agreement to acquire Welk Resorts, a prominent independent timeshare company, for approximately $430 million, which includes about 1.4 million MVW shares. The acquisition is expected to close in early Q2 2021, pending regulatory approvals. Welk operates eight upscale resorts, which will be rebranded as Hyatt Residence Club, expanding the number of resorts by 50% and increasing the total owners to nearly 90,000. This strategic acquisition aims to enhance revenue through improved marketing efficiencies and growth opportunities.

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced preliminary fourth quarter 2020 results, revealing a 25% increase in contract sales for vacation ownership, totaling $178 million. Additionally, the average revenue per member decreased 4% year-over-year, while Interval International exchange transactions grew 17%. The company ended 2020 with approximately $1.3 billion in liquidity. The GAAP results are pending and expected to be finalized by February 24, 2021.

Marriott Vacation Club has opened its first resort in Central America, located in Los Sueños, Costa Rica. This new resort offers 24 two-bedroom lock-off villas, promoting family vacations with spacious accommodations ranging from 393 to 1,129 square feet. Owners can exchange stays through the Marriott Vacation Club Destinations Exchange Program. The resort features amenities shared with the adjacent Los Sueños Marriott Ocean & Golf Resort, including a pool, restaurants, and golf. Timeshare sales will commence soon, expanding Marriott's portfolio in the region.

On January 15, 2021, Stephen P. Weisz, CEO of Marriott Vacations Worldwide Corporation (VAC), received the prestigious 2020 Charles Andrews Memorial Hospitality Award for Community Leadership from the Central Florida Hotel & Lodging Association. The award recognizes his significant contributions to Central Florida's hospitality sector. Weisz, a Cornell University graduate, has a long history with Marriott, including leadership roles spanning 39 years. The award underscores his commitment to enhancing the community and advancing tourism through hospitality.

Marriott Vacations Worldwide Corporation (NYSE:VAC) has promoted John E. Geller, Jr. to President while maintaining his role as Chief Financial Officer. Geller's promotion is endorsed by CEO Stephen P. Weisz, who cites Geller's 12 years as CFO and his role in shaping the company’s strategy. Mr. Geller will lead the vacation ownership sector and oversee Finance, Human Resources, and IT. The company, known for its vacation ownership and resort management, aims for continued growth amidst economic recovery aspirations for 2021.

Marriott Vacations Worldwide Corporation (NYSE: VAC) is participating in the Barclays Eat, Sleep, Play virtual conference today at 1:00 p.m. ET. Executive VP John Geller will engage in a fireside chat. The company also updated its fourth quarter operational guidance, reporting $118 million in quarter-to-date contract sales with expectations for the quarter to reach between $160 million and $185 million, reflecting a 15% to 30% improvement. Occupancy in Hawaii is improving, but Kauai's quarantine rule may impact trends. Exchange transactions at Interval International increased nearly 10% year-over-year.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has appointed Lori Gustafson as the new executive vice president and chief brand and digital strategy officer. She will be responsible for enhancing the company’s global brand presence and driving digital innovation to improve customer satisfaction. Gustafson has extensive experience in the industry, having previously worked for Wyndham Destinations and SeaWorld Parks & Entertainment. Her role indicates a strategic focus on digital capabilities, aiming to transform customer experiences as the company continues to expand its offerings.

Marriott Vacation Club, part of Marriott Vacations Worldwide (NYSE: VAC), has announced that reservations will start for their new resort in Costa Rica, slated for occupancy in January 2021. This will mark the brand's first venture in Central America, featuring 24 two-bedroom lock-off villas within the Los Sueños Resort and Marina. Owners will benefit from amenities like a free-form pool, spa, and nearby golfing opportunities. The resort is developed in partnership with CPG Hospitality and Enjoy Group, pending completion of acquisition.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced that John Geller, the executive vice president and chief financial and administrative officer, will take part in a fireside chat during the Barclays Eat, Sleep, Play Conference on December 2, 2020, at 1:00 p.m. ET. A live webcast will be accessible in the Investor Relations section of the company's website and will remain available for 30 days following the event. Marriott Vacations is recognized as a leading vacation company, managing a diverse portfolio including vacation ownership and rental services.