Profits Rise at Marriott Vacations Worldwide

The Orlando, Florida based timeshare company, Marriott Vacations Worldwide saw profit rise from 9 million in the first quarter of 2012 to $18 million in the first quarter of 2013., announced last week that its first-quarter profit was double that of last year. The timeshare company

Marriott Vacations Worldwide company executives described the quarter, which ended on March 22, 2013, as a “great building block for the rest of the year.”

While at first glance, one assumes that this profit increase signals a boom in sales for Marriott timeshares, in fact, Marriott Vacations Worldwide has identified that contract sales of timeshare and vacation ownership increased by only 2 percent over last year. The real boost to profitability for the company has come from Marriott Vacations Worldwide’s success in lowering its product costs, by buying back more timeshare units from current Marriott timeshare owners and then reselling the units to new buyers.

The Orlando Sentinel’s Sara Clarke writes that Marriott said total revenue for the first quarter was $389 million, up $13 million from a year ago, adding that Marriott Vacations Worldwide executives warn, “consumer confidence is lower than they would like to see it, (and that) it has yet to affect sales.”

More about Marriott Vacations Worldwide:

There are now more than 416,000 families worldwide who own Marriott timeshare. Founded in 1984, Marriott Vacation Club began with the opening of Marriott’s Monarch at Sea Pines on Hilton Head Island, S.C. Marriott Vacation Club points owners can book timeshare vacations at more than 50 Marriott Vacation Club resorts,featuring over 11,700 villas.

The Marriott Vacations Worldwide video shown here features one Marriott timeshare owner family sharing why being part of Marriott Vacation Club has helped them plan and enjoy vacationing better.