Marriott Vacations Worldwide C Stock Price, News & Analysis

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced plans to offer $500 million in convertible senior notes due 2027. The offering is aimed at qualified institutional buyers and could increase by an additional $75 million. Proceeds will be used to redeem existing secured notes, repay credit facility borrowings, repurchase shares, and cover transaction expenses. The company will engage in hedge transactions to mitigate dilution risk upon conversion of the notes. The offering has not been registered under the Securities Act.

Marriott Vacations Worldwide Corporation (NYSE: VAC) has announced a quarterly cash dividend of $0.72 per share, reflecting a 16% increase from the previous dividend. The dividend is scheduled for payment on or around January 5, 2023, to shareholders on record as of December 22, 2022. CEO Stephen P. Weisz expressed confidence in the company's business model and cash flow strength, highlighting optimism for future growth.

Marriott Vacation Club has inaugurated the Marriott’s Bali Nusa Dua Terrace, its second vacation ownership property in Bali, enhancing its presence in the Asia-Pacific market. Located in Nusa Dua, the resort features 88 luxury apartments, ranging from one to three bedrooms, and offers premium amenities including private plunge pools and a full-service spa. This expansion aligns with the rising popularity of Bali as a top travel destination, as noted by Tripadvisor. The new property caters to the growing demand for flexible vacation options among travelers seeking unique experiences.

Marriott Vacations Worldwide Corporation (NYSE: VAC) announced the completion of its second timeshare receivable securitization of 2022, raising $280 million through the issuance of notes backed by approximately $286 million in vacation ownership loans. The securitization involved four classes of notes, with varying interest rates, and a weighted average interest rate of 6.58 percent. Proceeds from the securitization will be used for debt repayment and general corporate purposes. This strategic move strengthens the company's financial position while managing credit obligations.

Marriott Vacations Worldwide Corporation (NYSE: VAC) reported strong third quarter 2022 results, driven by a 27% increase in consolidated vacation ownership contract sales, amounting to $483 million. The alignment of contract terms under the new Abound by Marriott Vacations program contributed an extra $33 million in net income and $44 million in Adjusted EBITDA. Net income attributable to common shareholders reached $109 million, or $2.53 EPS, while adjusted EPS was $3.02. The company also repurchased nearly 1.7 million shares for $216 million, returning over $600 million in cash to shareholders this year.

Marriott Vacations Worldwide Corporation (NYSE: VAC) will report its third quarter 2022 financial results after market close on October 31, 2022. A conference call to discuss the results is scheduled for 8:30 a.m. ET on November 1. Participants can join by dialing (877) 407-8289 or via the live webcast available on the company's Investor Relations site. An audio replay will also be accessible from 10:00 a.m. on November 1 until 10:00 p.m. on December 1.

Interval International has announced its long-term affiliation with Club Imperial and three premier properties in Acapulco, significantly expanding its global resort network. This collaboration with Mundo Imperial Entertainment & Hospitality introduces luxurious offerings like Palacio Mundo Imperial, Princess Mundo Imperial, and Pierre Mundo Imperial. Guests will benefit from amenities including golf courses, a spa, and direct access to Acapulco's celebrated attractions. As a result, Club Imperial purchasers will gain Interval membership, unlocking a variety of travel options and benefits.

Marriott Vacations Worldwide Corporation (NYSE: VAC) declared a quarterly cash dividend of $0.62 per share. This dividend will be distributed on or around October 6, 2022 to shareholders on record as of September 22, 2022. This announcement reflects the company's commitment to returning value to shareholders while maintaining its strong position in the vacation ownership market, which includes over 120 resorts and approximately 700,000 owner families globally.