Latest news with #JasonMarino
Business Wire
19-05-2025
- Business
- Business Wire
Marriott Vacations Worldwide to Participate at the Morgan Stanley Travel & Leisure Conference
ORLANDO, Fla.--(BUSINESS WIRE)--Marriott Vacations Worldwide (NYSE: VAC) announced today that John Geller, President and Chief Executive Officer, and Jason Marino, Executive Vice President and Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley 3rd Annual Travel & Leisure Conference on June 3, 2025, from 12:45 – 1:20 p.m. E.T. A live webcast of the event will be available in the Investor Relations section of the Company's website at An audio replay of the conference call will be available for 30 days on the Company's website. 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 approximately 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and provides management services to 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, Inc. and an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit
Skift
09-05-2025
- Business
- Skift
More First-Time Buyers – and 3 Other Takeaways From the Largest Timeshare Companies
Timeshares are holding up, but only with more help from first-time buyers and loyalty perks. The three largest timeshare companies, Hilton Grand Vacations (HGV), Travel and Leisure, and Marriott Vacations Worldwide, have reported first-quarter earnings. Together, they brought in nearly $2.85 billion in revenue. Here are four things we learned from their results: 1. More Spend at Hilton and T+L, More Tours at Marriott Hilton Grand Vacations and Travel and Leisure said average spending per guest rose in the first quarter, even as fewer people took sales tours. For Hilton, that measure - called volume per guest – jumped 15% to more than $4,100, while tour volume fell 4%. Travel and Leisure's volume per guest rose 6% to $3,212, with tours down 1%. However, Travel and Leisure CFO Mike Hug said the company saw signs of recovery later in the quarter. "We saw year-over-year tour growth in March, and we expect that will continue into the second quarter," said Hug. Marriott Vacations took the opposite path. It increased tours by 1% to nearly 98,000, while volume per guest fell 4%, to $3,979. "Half of the decline [was] due to a higher mix of first-time buyer sales, while owner sales declined year-over-year," said CFO Jason Marino. 2. First-Time Buyers Are Filling the Gap As repeat timeshare owner activity softens, first-time buyers make up more of the sales base. Marriott said first-time buyer sales grew 6%. CEO John Geller said that shift "is good for the long-term health of the system, though it negatively impacted our reported [volume per guest] this quarter." Hilton said 25% of its sales came from new buyers. That was helped by a new resort in Hawaii, opening in 2026, and the rollout of its Max membership program to owners from Bluegreen Vacations, which Hilton acquired in January 2024. "Our Max members have our highest satisfaction scores across every ownership tenure," said CEO Mark Wang. "We're now over 215,000 Max members with Bluegreen contributing nearly 13,000 members." Travel and Leisure, which was acquired by Wyndham Destinations in 2021, said 7% of new owner tours came through its Wyndham partnership. CEO Michael Brown said 65% of new buyers were Gen X, Millennials, or Gen Z, a sign the product is reaching a younger market. 3. Demand is Holding Steady While Travel and Leisure said owners are waiting longer to commit, with the average booking window falling from 130 to 116 days, Brown said demand hasn't dropped. "We saw an acceleration of resort bookings as the quarter progressed," Brown said. Hilton and Marriott didn't report changes in booking windows, but both also said demand remains stable. Hilton said bookings for the next six months are ahead of last year. "While we're cognizant of the broader environment and news flow, we haven't yet seen any material shifts in our four demand indicators,' Wang said. Marriott said resort occupancy topped 90% in the quarter, and 35% of its 265,000 tour packages had already been activated for this year. "We are seeing owner arrivals improving as we progress through the year," Geller said. 4. Loyalty, Apps, and Brand Extensions Are Doing More Work With in-person tours under pressure, timeshare companies are leaning on digital tools and brand partnerships to keep moving. Travel and Leisure said the Club Wyndham app now accounts for 71% of search-to-book conversions, up 22% compared to the website. "The Club Wyndham app has now been downloaded by nearly 100,000 owners, or approximately 20% of our Club Wyndham owner base," said Brown. "This is up from 40,000 downloads when we last reported." Hilton opened new sales locations at Bass Pro Shops and Great Wolf Lodges and is expanding its Max program. "We believe these initiatives can support our EBITDA [earnings before interest, taxes, depreciation, and amortization] and cash flow goals regardless of the macro environment," said Wang. Marriott will soon let owners use points to book nearly all 9,000 Marriott hotels. "All these initiatives are helping drive higher owner and guest satisfaction while lowering our costs," said Geller.
Business Wire
06-05-2025
- Business
- Business Wire
Marriott Vacations Worldwide Completes $450 Million Term Securitization
ORLANDO, Fla.--(BUSINESS WIRE)--Marriott Vacations Worldwide Corporation (NYSE: VAC) ('MVW' or the 'Company') announced today the completion of a $450 million securitization of vacation ownership loans, offered to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States in accordance with Regulation S under the Securities Act of 1933, as amended. The notes were issued by MVW 2025-1 LLC (the 'Issuer'). The notes have a blended interest rate of 5.16% and a gross advance rate of 98%. We are very happy with the investor demand for this securitization, which underscores the resilience and confidence in our timeshare loan portfolio, at a time of intense market volatility. Share 'We are very happy with the investor demand for this securitization, which underscores the resilience and confidence in our timeshare loan portfolio, at a time of intense market volatility. Each class was oversubscribed more than three times, a clear reflection of the strength of our business model and the trust that securitization investors place in us,' said Jason Marino, Executive Vice President and Chief Financial Officer. The transaction was backed by a pool of approximately $459 million of vacation ownership loans from a variety of the Company's timeshare brands. Three classes of notes were issued by the Issuer, comprising approximately $277 million of Class A Notes, approximately $93 million of Class B Notes, and approximately $80 million of Class C Notes. The Class A Notes have an interest rate of 4.97%, the Class B Notes have an interest rate of 5.21%, and the Class C Notes have an interest rate of 5.75%. The Company intends to use the proceeds of the 2025-1 securitization, net of fees, to pay down outstanding credit facility obligations and for other general corporate purposes. Important Notice This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The notes have not been registered under the Securities Act of 1933, as amended, or any state securities law. Unless so registered, the notes may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. 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 approximately 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and provides management services to 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, Inc. and an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit
Yahoo
27-03-2025
- Business
- Yahoo
Marriott Vacations Worldwide Amends its Senior Secured Credit Facilities at Improved Terms
ORLANDO, Fla., March 27, 2025--(BUSINESS WIRE)--Marriott Vacations Worldwide Corporation (NYSE: VAC) ("MVW" or the "Company") today announced that it has amended its credit agreement to refinance its senior secured revolving credit facility at improved terms and add a senior secured delayed-draw term loan facility to provide flexibility to refinance its convertible notes maturing January 2026. The amendment replaces the Company's previous $750 million senior secured revolving credit facility, which was scheduled to mature on March 31, 2027, with a new $800 million revolving credit facility scheduled to mature on March 24, 2030, reducing drawn and undrawn pricing including a 25 basis point reduction in interest spreads. The amended agreement also includes a new $450 million delayed-draw term loan facility maturing December 31, 2027, which is available solely to finance the redemption or repurchase of the Company's 0.00% Convertible Senior Notes due January 15, 2026. "We are happy to have updated and extended our revolving credit facility with reduced interest rates and unused fees," said Jason Marino, executive vice president and chief financial officer. "In addition, the delayed-draw term loan facility provides us with time and flexibility to evaluate our options to refinance our 0.00% Convertible Senior Notes, which mature early next year." 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 approximately 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and provides management services to 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, Inc. and an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit The Company routinely posts important information, including news releases, announcements and other statements about its business and results of operations, that may be deemed material to investors on the Investor Relations section of the Company's website, The Company uses its website as a means of disclosing material, nonpublic information and for complying with the Company's disclosure obligations under Regulation FD. Investors should monitor the Investor Relations section of the Company's website in addition to following the Company's press releases, filings with the SEC, public conference calls and webcasts. View source version on Contacts Neal GoldnerInvestor Cameron KlausGlobal Sign in to access your portfolio
