Marriott Vacations Worldwide Corporation Provides Updated Outlook for Second Quarter 2021
The Company continues to experience a strong recovery during the second quarter, illustrating the resiliency of its leisure focused business model.
- Occupancies and tours continued to grow sequentially in the second quarter from the first quarter and VPGs remained well above 2019 levels. As a result, the Company now expects contract sales to be
$345 millionto $355 millionin second quarter 2021 versus its previous guidance of $320 millionto $340 million, a 55% sequential increase from first quarter 2021 at the midpoint.
- Combined Owner and Preview reservations on the books for the second half of 2021 are currently more than 15% higher than at the same time in 2019.
The Company will host a fireside chat session today at 9:10 a.m. E.T. A live webcast will be available in the Investor Relations section of the Company's website at ir.mvwc.com. The webcast will also be available on the Company's website for 30 days following the call.
The Company currently expects to report financial results for the second quarter 2021 on or about
Note on forward-looking statements
This press release and accompanying schedules contain "forward-looking statements" within the meaning of federal securities laws, including statements about expectations for contract sales in the second quarter, future operating results, estimates, and assumptions, and similar 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 our control such as the length and severity of the current COVID-19 pandemic and its effect on our operations, its short and longer-term impacts on the demand for travel and consumer confidence, and the availability and distribution of effective vaccines; the pace of recovery following the COVID-19 pandemic or as effective treatments or vaccines become widely available; 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, firstname.lastname@example.org; or Ed Kinney, Corporate Communications, Marriott Vacations Worldwide, 407.206.6278, email@example.com