Sweet News for Marriott Vacations Worldwide Corporation
Thursday, July 18, 2013
Marriott Vacations Worldwide Corporation (Marriott timeshare) saw higher second-quarter revenue and profit. With this news, shares of Marriott Vacations timeshare reached their highest point since the company split from the Marriott International Corporation in November of 2011 and went public as a separate company.
Marriott Vacation Club now anticipates full-year adjusted earnings of $1.94 to $2.10 per share based on revenue increase of 10 percent to $421 million, as well as other factors. This growth is in part because of an increase in Marriott timeshare rental revenue, which saw an 18 percent gain. Marriott Vacations President and Chief Executive Officer Stephen Weisz released a statement saying that the company’s earnings growth was attributable to:
- higher development margins
- improved performance at the company’s rental and resort-management business
- and more efficient marketing.
Weisz’ comments are in accord with Marriott timeshare’s first quarter results that showed growth primarily stemming from higher margins and increased timeshare rentals, not from the sale of new timeshares. (See: Profits Rise at Marriott Vacations Worldwide)
Orlando Sentinel senior reporter Jason Garcia also notes (Marriott time-share business reports higher profits, expects lower taxes) that the company “raised its cash flow forecast for the rest of the year primarily because it expects to pay less in income taxes.”
Marriott Vacations includes The Ritz-Carlton Destination Club brand.
The video below, looks at Marriott Collection vacations, which offer over 3,500 hotels and resorts around the globe as part of the Marriott Vacation Corporation worldwide exchange opportunities.