Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. The company also develops, markets, and sells vacation ownership and related products under The Ritz-Carlton Destination Club brand; and holds right to develop, market, and sell ownership residential products under The Ritz-Carlton Residences brand. It sells points-based vacation ownership products through two points-based ownership programs: Marriott Vacation Club Destinations and Marriott Vacation Club, Asia Pacific programs; and weeks-based vacation ownership products. As of January 1, 2016, the company operated 61 properties with 12,807 vacation ownership villas and approximately 410,000 owners in the United States, and 8 other countries and territories. In addition, it is involved in financing consumer purchases of vacation ownership products; and renting vacation ownership inventory. The company sells its upscale tier vacation ownership products primarily through a network of resort-based sales centers and off-site sales locations. Marriott Vacations Worldwide Corporation is headquartered in Orlando, Florida.
Marriott Vacations Shares Fall as Results Miss Expectations ORLANDO, Fla. (AP) _ Marriott Vacations Worldwide Corp. (VAC) on Thursday reported third-quarter earnings of $26.8 million. The Orlando, Florida-based company said it had profit of 97 cents per share. Earnings, adjusted for non-recurring gains, were 96 cents per share. The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share. The timeshare company posted revenue of $407 million in the period. Marriott expects full-year earnings in the range of $4.55 to $4.65 per share. Marriott shares have risen 21 percent since the beginning of the year. The stock has fallen almost 5 percent in the last 12 months.
