VAC on NYSE

Marriott Vacations Worldwide Corporation

Logo: marriottvacationsworldwide.com5

American timeshare company

Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

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  • TickerVAC on NYSE1
  • Industrytourism1
  • HeadquartersOrlando1
  • Websitewww.marriottvacationsworldwide.com
  • Legal formDelaware corporation1
  • Incorporated inUnited States6
  • Business address7812 Palm Parkway, Orlando, Fl 328366
  • Filer categoryLarge accelerated filer6
  • LEI549300WA6BT5H4F7IO944
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 49828184
Marriott Vacations Worldwide Corporation image from its website
Image: marriottvacationsworldwide.com5

Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vacation Clubs City Collection, Sheraton Vacation Club, Westin Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club. The company also operates Hyatt Vacation Club as well as Interval International, which offers an exchange network and travel membership programs through a network of more than 3,200 affiliated resorts in over 90 countries and territories, as well as management of more than 160 other resorts and lodging properties.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-6.6%Net margin8
1.0%Revenue growth, 20258
-15.5%Return on equity8
-$29.0MFree cash flow8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Cost Reimbursement brought in 33% of the revenue Marriott Vacations Worldwide Corporation broke down this way in fiscal 2025.

  1. Cost Reimbursement$1.7B833%up 1% from 2024
  2. Time Share$1.5B828%up 1% from 2024
  3. Management And Exchange$860.0M817%up 2% from 2024
  4. Rental$650.0M813%up 1% from 2024
  5. Ancillary Revenues$276.0M85%up 2% from 2024
  6. Management Service$226.0M84%up 6% from 2024
Products and services by year
Products and services202320242025
Cost Reimbursement$1.6B$1.7B$1.7B
Time Share$1.5B$1.4B$1.5B
Management And Exchange$813.0M$843.0M$860.0M
Rental$571.0M$645.0M$650.0M
Ancillary Revenues$257.0M$270.0M$276.0M
Management Service$201.0M$214.0M$226.0M

Business segments

Vacation Ownership brought in 95% of the revenue Marriott Vacations Worldwide Corporation broke down this way in fiscal 2025.

  1. Vacation Ownership$4.4B895%up 1% from 2024
  2. Exchange and Third-Party Management$213.0M85%down 8% from 2024
Business segments by year
Business segments202320242025
Vacation Ownership$4.1B$4.4B$4.4B
Exchange and Third-Party Management$262.0M$231.0M$213.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$4.7B
  • Income tax0¢$8.0M

Out of $4.7B in revenue.8 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending25¢$57.0M
  • Dividends paid48¢$110.0M
  • Share buybacks27¢$61.0M

Out of $28.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.8

Financial statements

Revenue91011128$4.7B in 2025+17% since 2019
0$2.0B$4.0B$6.0B2019: $4.0B$4.0B20192020: $2.6B$2.6B2020−34%2021: $3.6B$3.6B2021+38%2022: $4.4B$4.4B2022+20%2023: $4.4B$4.4B2023+1%2024: $4.6B$4.6B2024+5%2025: $4.7B$4.7B2025+1%
Net income91011128-$308.0M in 2025
-$400.0M-$200.0M0$200.0M$400.0M2019: $138.0M$138.0M20192020: -$275.0M-$275.0M20202021: $49.0M$49.0M20212022: $391.0M$391.0M2022+698%2023: $254.0M$254.0M2023−35%2024: $218.0M$218.0M2024−14%2025: -$308.0M-$308.0M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Revenue from contracts with customers$4.7B$4.6B$4.4B
Financing$360.0M$342.0M$322.0M
TOTAL REVENUES$5.0B$5.0B$4.7B
Marketing and sales$943.0M$919.0M$823.0M
Financing$150.0M$146.0M$113.0M
Royalty fee$113.0M$114.0M$117.0M
General and administrative$242.0M$237.0M$273.0M
Depreciation and amortization$149.0M$146.0M$135.0M
Litigation charges$17.0M$23.0M$13.0M
Modernization$122.0M$4.0M$0
Restructuring$15.0M$6.0M
Impairment$577.0M$30.0M$32.0M
Cost reimbursements$1.7B$1.7B$1.6B
TOTAL EXPENSES$5.2B$4.5B$4.2B
Gains (losses) and other income (expense), net$47.0M-$1.0M$47.0M
Interest expense, net-$169.0M-$162.0M-$145.0M
Transaction and integration costs$0-$18.0M-$37.0M
Other$0-$3.0M-$3.0M
(LOSS) INCOME BEFORE INCOME TAXES AND NONCONTROLLING INTERESTS-$299.0M$306.0M$398.0M
Provision for income taxes-$8.0M-$89.0M-$146.0M
NET (LOSS) INCOME-$307.0M$217.0M$252.0M
Net (income) loss attributable to noncontrolling interests-$1.0M$1.0M$2.0M
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS-$308.0M$218.0M$254.0M
Basic (in usd per share)-$8.84$6.16$6.96
Diluted (in usd per share)-$8.84$5.61$6.28
CASH DIVIDENDS DECLARED PER SHARE (in usd per share)$3.17$3.07$2.92

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The story

Marriott Ownership Resorts Inc. (MORI) was established on April 17, 1984 with the acquisition of American Resorts on Hilton Head Island, South Carolina. Marriott’s Monarch became the first MORI resort. In 1995, MORI became Marriott Vacation Club International. The move reflected the company’s evolution from real estate development and sales focus to "delivering an overall vacation experience". In 1997, the company expanded to Europe with its first resort in Marbella, Spain. In 2001, the first Asian resort in Phuket, Thailand was added to the company's collection. Similar to its successful segmentation of the lodging industry pioneered in the 1980s, Marriott Vacation Club International introduced The Ritz-Carlton Destination Club in 1999 – a luxury fractional ownership offering. Two years later, the Grand Residences by Marriott brand was created. The first property opened in 2002 in South Lake Tahoe, California. In 2007, Marriott Vacation Club International began to market its core timeshare brand as Marriott Vacation Club. In 2010, the company launched its points-based Marriott Vacation Club Destinations Program in North America and the Caribbean. This change was the most significant program innovation in the company’s history and provided a new product offering increased flexibility.

Vistana Signature Experiences acquisition

In 2016, Vistana Signature Experiences (formerly Starwood Vacation Ownership) was spun off from Starwood Hotels & Resorts and acquired by Interval Leisure Group (ILG). Vistana entered into a long-term global license agreement to use the Westin and Sheraton brands for vacation ownership.

Interval International and ILG, Inc. acquisition

In April 2018, Marriott Vacations Worldwide announced that they would purchase ILG, Inc. for $4.7 billion. Miami, Florida-based ILG was the parent entity to Interval International, which was founded in 1976. Interval International operates global membership programs for more than 1.6-million-member families. It also provides value-added services and benefits to its developer clients worldwide. Interval is currently an operating business of Marriott Vacations Worldwide Corporation.

The Marriott Vacation Clubs

In April 2023, "The Marriott Vacation Clubs". was introduced by Marriott Vacations Worldwide as the umbrella name to unify its three premium vacation ownership brands, Marriott Vacation Club, Sheraton Vacation Club, and Westin Vacation Club under one portfolio.

From Wikipedia’s article on Marriott Vacations Worldwide, shared under CC BY-SA 4.0.7

Leadership

Who has led Marriott Vacations Worldwide Corporation, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (40)

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Timeline

  1. Mar 6, 2026New chief executive Matthew E. Avril becomes CEO16
  2. Feb 17, 2023New chief executive John E. Geller Jr. becomes CEO17
  3. Oct 27, 2011New chief executive Stephen P. Weisz becomes CEO18
  4. Jun 21, 2011Founded Marriott Vacations Worldwide Corporation is founded4

Filings

604 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 465 insider forms, 33 large holders, 26 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Oct 1, 20264 EDGAR
  3. Oct 1, 20264 EDGAR
  4. Oct 1, 20264 EDGAR
  5. Oct 1, 20264 EDGAR
  6. Oct 1, 20264 EDGAR
  7. Oct 1, 20264 EDGAR
  8. Sep 16, 20264 EDGAR
  9. Aug 20, 2026SCHEDULE 13D/A EDGAR
  10. Aug 20, 20264 EDGAR
  11. Aug 19, 2026144 EDGAR
  12. Aug 18, 20264 EDGAR
  13. Aug 18, 20264 EDGAR
  14. Aug 18, 20264 EDGAR
  15. Aug 18, 20264 EDGAR
  16. Aug 17, 2026144 EDGAR
  17. Aug 10, 2026144 EDGAR
  18. Aug 6, 202610-Q EDGAR
  19. Aug 6, 20268-K EDGAR
  20. Aug 3, 20263 EDGAR

The 604 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

31 open-market trades by officers, directors and large owners since October 2021: 20 buys and 11 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 19, 2026Impactive Capital LLCDirectorSale750,000$111.49$83.6MForm 4
Aug 17, 2026Pighini Kathleen A.See RemarksSale2,500$120.00$300.0KForm 4
Mar 10, 2026Flaskey MichaelSee RemarksBuy14,862$67.26$999.6KForm 4
Jan 7, 2026Fitzgerald John D.See RemarksBuy65$61.15$4.0KForm 4
Jan 6, 2026Fitzgerald John D.See RemarksBuy44$61.06$2.7KForm 4
Nov 25, 2025Gray Jonice MDirectorBuy1,100$54.47$59.9KForm 4
Nov 21, 2025Morgan DiannaDirectorBuy500$51.22$25.6KForm 4
Nov 20, 2025MCCARTEN WILLIAM WDirectorBuy5,000$48.08$240.4KForm 4
Nov 19, 2025Impactive Capital LPDirectorBuy84,000$47.44$4.0MForm 4
Nov 18, 2025GALBREATH LIZANNEDirectorBuy5,500$46.51$255.8KForm 4
Nov 14, 2025Avril Matthew EChief Executive OfficerBuy5,000$45.61$228.1KForm 4
Nov 14, 2025SHAW WILLIAM JOSEPHDirectorBuy20,000$46.04$920.8KForm 4
Nov 14, 2025QUAZZO STEPHEN RDirectorBuy2,000$45.53$91.1KForm 4
Nov 13, 2025ANDREWS CHARLES ELLIOTTDirectorBuy10,000$47.01$470.1KForm 4
Jun 18, 2025Impactive Capital LPDirectorBuy337,551$68.11$23.0MForm 4
Jun 17, 2025Impactive Capital LPDirectorBuy412,449$67.61$27.9MForm 4
Mar 6, 2025Butera Stephanie SobeckSee RemarksBuy650$71.66$46.6KForm 4
Mar 6, 2025GELLER JOHN E. JRSee RemarksBuy5,000$72.04$360.2KForm 4
Mar 4, 2025ANDREWS CHARLES ELLIOTTDirectorBuy1,620$71.82$116.3KForm 4
Nov 13, 2024Gustafson Lori MSee RemarksSale1,550$93.93$145.6KForm 4

All 31 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,304,632$438.6M0.0%+37,103
Impactive Capital LP4,129,984$420.8M30.0%No change
Vanguard Portfolio Management LLC1,901,819$193.8M0.0%+21,151
Dimensional Fund Advisors LP1,546,705$157.6M0.0%−226,422
Fuller & Thaler Asset Management, Inc.1,487,384$151.5M0.4%−209,039
Vanguard Capital Management LLC1,353,166$137.9M0.0%−10,983
State Street Corp1,155,752$117.7M0.0%+9,110
Senvest Management, LLC1,126,132$114.7M3.4%−25,843
New South Capital Management Inc953,137$97.1M4.3%+179,401
Geode Capital Management, LLC717,760$73.1M0.0%+34,354
Ananym Capital Management, LP644,610$65.7M23.6%−175,208
Victory Capital Management Inc594,834$60.6M0.0%−2,095
Hotchkis & Wiley Capital Management LLC498,904$50.8M0.1%−493,980
Deprince Race & Zollo Inc493,450$50.3M0.8%−30,797
Quantinno Capital Management LP475,937$48.5M0.1%+1,900
Goldman Sachs Group Inc470,845$48.0M0.0%+80,315
Morgan Stanley449,956$45.8M0.0%+195,797
GMT Capital Corp414,050$42.2M2.2%−609,400
CAS Investment Partners, LLC400,000$40.8M2.2%New
Charles Schwab Investment Management Inc379,529$38.7M0.0%+9,208
Northern Trust Corp333,408$34.0M0.0%+11,404
American Century Companies Inc247,903$25.3M0.0%+204,123
Bank Of America Corp /de/246,868$25.2M0.0%−77,692
Fmr LLC228,570$23.3M0.0%+195,180
Savant Capital, LLC265,894$22.2M0.1%+132,211

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

6 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 10, 2023Daniel S. GoldmanDemocratic, HouseSale$15,001 - $50,000+102.3%Report
Mar 6, 2023Daniel S. GoldmanDemocratic, HousePartial sale$15,001 - $50,000+118.3%Report
Nov 16, 2020Greg Gianforte, HousePartial sale$50,001 - $100,000+126.5%Report
Aug 3, 2020Ron WydenDemocratic, SenateSale$15,001 - $50,000+99.1%Report
May 27, 2020Ron WydenDemocratic, SenateBuy$15,001 - $50,000−140.4%Report
May 26, 2020Ron WydenDemocratic, SenateBuy$15,001 - $50,000−136.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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