Marriott Vacations Worldwide C Stock Price, News & Analysis

Marriott Vacations Worldwide Corporation (NYSE: VAC) has successfully completed its first timeshare receivable securitization of 2023, amounting to $380 million. This transaction, named the 2023-1 Securitization, backed by approximately $388 million of vacation ownership loans, showcases a strong gross advance rate of 98% and a weighted average interest rate of 5.52%. The securitization comprises four classes of notes, with Class A Notes carrying an interest rate of 4.93%. The company plans to utilize proceeds to reduce outstanding credit facility obligations and for general corporate purposes. Executives expressed satisfaction with investor demand, reflecting confidence in the company's leisure-focused business model.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will announce its financial results for the first quarter of 2023 after market hours on May 3. A conference call to discuss these results is scheduled for 8:30 a.m. ET on May 4, accessible via phone at (877) 407-8289 or (201) 689-8341 for international callers. A live webcast will also be available through the company's Investor Relations page. An audio replay of the call will be accessible from 10 a.m. ET on May 5 to 10 p.m. ET on June 4 using the same dial-in numbers and conference ID 13737056.

Marriott Vacations offers a wide range of vacation ownership and management services, operating over 120 resorts and serving approximately 700,000 owner families globally.

Marriott Vacations Worldwide (NYSE: VAC) has announced the launch of The Marriott Vacation Clubs™, unifying its vacation ownership brands, including Marriott Vacation Club®, Sheraton® Vacation Club, and Westin® Vacation Club. This initiative aims to streamline leisure travel options for Marriott Bonvoy members and general travelers, featuring over 90 premium resorts globally. The new marketing campaign, More Vacations to Love, emphasizes personalized experiences tailored to modern travelers, especially younger demographics. Owners can take advantage of the Abound by Marriott Vacations™ program, which allows seamless travel among brands and access to various leisure experiences. Through this rebranding, Marriott seeks to enhance understanding of its vacation offerings, catering to diverse traveler needs across various destinations.

Aqua-Aston Hospitality, part of Marriott Vacations Worldwide, has announced new initiatives for 2023 focusing on sustainability and wellness. Key highlights include conversions of Hawaii properties to bulk bathroom amenities, reducing single-use plastics, and energy consumption renovations at Aqua Palms Waikiki aimed at achieving a 45% reduction. The company also debuted the Botánika Osa Peninsula in Costa Rica, offering yoga and wellness programs. Additionally, ADERO Scottsdale Resort introduced new rooms with Peloton Bikes. Aqua-Aston continues to support local culture by offering complimentary access to museums for guests in Oahu.

Marriott Vacations Worldwide Corporation (NYSE: VAC) reported a strong fourth quarter and full year 2022. Consolidated Vacation Ownership contract sales reached $454 million, up 12% year-over-year, with net income attributable to shareholders at $88 million or $2.08 per share. For the full year, contract sales were $1.84 billion, a 34% increase, while net income totaled $391 million, or $8.77 per share. The company anticipates contract sales growth of 5% to 9% in 2023, with adjusted EBITDA expected between $950 million and $1 billion. Notable impacts in 2022 included approximately $13 million in lost sales due to hurricanes.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has declared a quarterly cash dividend of $0.72 per share, set to be paid on or around March 16, 2023. Shareholders on record as of March 2, 2023 will be eligible for this distribution. The decision reflects the Board's confidence in the company's growth strategy and commitment to delivering value to its shareholders. Marriott Vacations, a leader in the vacation ownership sector, operates over 120 resorts and serves approximately 700,000 owner families worldwide.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will release its fourth quarter 2022 financial results on February 22, after market close. Following the announcement, a conference call will take place at 8:30 a.m. ET on February 23 to discuss these results. Participants can join the call by calling (877) 407-8289 (international: (201) 689-8341) or via the live webcast available on the Investor Relations section of the company's website. An audio replay of the call will be accessible starting February 24 until March 23.

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced the promotion of Stephanie Sobeck Butera to Executive Vice President and Chief Operating Officer of Hyatt Vacation Ownership. With nearly 25 years of industry experience, Butera has held various leadership roles within the company, notably leading the integration of Welk Resorts after its acquisition. John E. Geller, the new President and CEO, emphasized her capability to navigate challenging business environments. This appointment is part of MVW's commitment to leadership development.

Marriott Vacations Worldwide (NYSE: VAC) has established the Stephen P. Weisz Endowed Scholarship to support hospitality students at the University of Central Florida (UCF) in honor of retiring CEO Stephen Weisz. This $250,000 endowment will provide two $5,000 scholarships annually, starting Fall 2023, for students demonstrating academic success and community commitment. The initiative also unlocks a $50,000 matching grant from the UCF Challenge, totaling a $300,000 investment aimed at enhancing student opportunities at UCF's renowned Rosen College.