Marriott Vacations Worldwide Corporation Provides Business Update

ORLANDO, Fla., Dec.
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ORLANDO, Fla., Dec. 2, 2020 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (VAC) - Get Marriott Vacations Worldwide Corporation Report will take part in the Barclays Eat, Sleep, Play virtual conference today. John Geller, executive vice president and chief financial and administrative officer, will participate in a fireside chat at 1:00 p.m. ET, which will be webcast.

The Company is also providing an update to its fourth quarter operational guidance:

  • Quarter-to-date contract sales were $118 million with November improving slightly over October.  As a result, the Company continues to expect fourth quarter contract sales to be between $160 million and $185 million, a roughly 15% to 30% sequential improvement;
  • VPG continues to be strong and higher sequential tour volume is expected to drive higher fourth quarter contract sales compared to the third quarter;
  • Hawaii reopened on October 15 and occupancy trends have been encouraging thus far though Kauai's 14-day quarantine rule effective December 2 may temper fourth quarter trends; and
  • Exchange transactions at Interval International increased nearly 10% quarter-to-date compared to the prior year.

A live webcast of today's fireside chat will be available in the Investor Relations section of the company's website at ir.mvwc.com.   

About Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. The company has a diverse portfolio that includes seven vacation ownership brands. It also includes exchange networks and membership programs, as well as management of other resorts and lodging properties. As a leader and innovator in the vacation industry, the company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.

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SOURCE Marriott Vacations Worldwide