Marriott Vacations Worldwide Corp

VAC

Equity

ISIN US57164Y1073 / Valor 14208749

New York Stock Exchange, Inc (2024-12-24)

USD 91.61+1.41%

Marriott Vacations Worldwide Corp
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About company

Marriott Vacations Worldwide Corp is a leading company in the vacation industry, offering membership programs for vacationers and providing value-added services to developers and homeowners' associations. With a network of over 3,200 resorts in more than 80 nations, the company serves nearly 2 million families enrolled in various membership programs. Marriott Vacations Worldwide is known for its high-quality products and benefits, with a diverse portfolio of over 60 resorts and more than 13,000 vacation villas and accommodations throughout the U.S., Caribbean, Europe, Asia, and Australia. The company also operates Aqua-Aston Hospitality, one of the largest hotel and resort management companies in Hawai'i, offering a range of options from full-service resorts to budget properties. Additionally, Marriott Vacation Club PulseSM provides properties in vibrant cities for a unique vacation experience. Through its programs and initiatives, Marriott Vacations Worldwide contributes to strengthening communities worldwide.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Stability

In the first quarter of 2024, Marriott Vacations Worldwide Corp reported a slight decrease in total consolidated contract sales, which amounted to $428 million, down 1% from $434 million in the first quarter of 2023. This decline was primarily due to the impact of the Maui wildfires. Excluding the effects from Maui, contract sales actually saw a 3% increase compared to the previous year.

Net Income Decline

Marriott Vacations Worldwide Corp experienced a significant drop in net income attributable to common stockholders, which was $47 million in the first quarter of 2024, compared to $87 million in the same quarter of the previous year. This decrease highlights challenges faced during the period, despite ongoing recovery efforts in some regions.

Adjusted EBITDA

The company's Adjusted EBITDA for the first quarter of 2024 was reported at $187 million, marking an 8% decrease from the previous year. This decline reflects some operational challenges despite a general resilience in core business areas.

Shareholder Returns

During the first quarter of 2024, Marriott Vacations Worldwide Corp demonstrated its commitment to returning value to shareholders by repurchasing 280 thousand shares of its common stock for $24 million and paying out two quarterly dividends totaling $54 million.

2024 Full-Year Outlook

Looking ahead, Marriott Vacations Worldwide Corp reaffirms its full-year guidance for 2024, projecting contract sales to grow between 6 to 9%. This optimistic outlook is supported by strong reservation trends for the upcoming summer months and a recovery in travel demand for Maui approaching pre-wildfire levels.

Summarized from source with an LLMView Source

Key figures

3.80%1Y

-45.0%3Y

-28.9%5Y

Performance

37.9%1Y

38.1%3Y

53.7%5Y

Volatility