Marriott Vacations Worldwide Announces Preliminary Fourth Quarter 2020 Results
Fourth Quarter 2020 Preliminary Results:
- Contract sales for Vacation Ownership increased more than 25% sequentially to
- VPG increased 9% year-over-year in the fourth quarter and tours declined 59%.
Interval Internationalexchange transactions increased approximately 17% and average revenue per member was down approximately 4% compared to the fourth quarter 2019.
- The Company ended 2020 with approximately
$1.3 billionof liquidity.
The Company has not yet completed its financial close processes for the fourth quarter of 2020, so GAAP financial results for the quarter have not yet been finalized. These estimates are not a comprehensive statement of the company's financial results for the fourth quarter of 2020. The Company expects to report fourth quarter full financial results on or around
Note on forward-looking statements:
This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements about expected results for the fourth quarter of 2020 and other statements concerning anticipated future events and expectations that are not historical facts. The Company cautions you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including, without limitation, conditions beyond its control such as the length and severity of the current COVID-19 pandemic and its effect on the Company's operations; the effect of any governmental actions, including restrictions on travel, or mandated employer-paid benefits in response to the COVID-19 pandemic; the Company's ability to manage and reduce expenditures in a low revenue environment; volatility in the economy and the credit markets, changes in supply and demand for vacation ownership products, competitive conditions, the availability of additional financing when and if required, and other matters disclosed under the heading "Risk Factors" contained in the Company's most recent Annual Report on Form 10-K filed with the
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Neal Goldner, Investor Relations, Marriott Vacations Worldwide, 407.206.6149, Neal.Goldner@mvwc.com; or Ed Kinney, Corporate Communications, Marriott Vacations Worldwide, 407.206.6278, Ed.Kinney@mvwc.com