vac-20210120
0001524358falseJanuary 20, 202100015243582021-01-202021-01-20

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 8-K
_________________________
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 20, 2021
_________________________
Marriott Vacations Worldwide Corporation
(Exact name of registrant as specified in its charter)
 _________________________
Delaware 001-35219 45-2598330
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6649 Westwood Blvd.OrlandoFL32821
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code (407) 206-6000
N/A
(Former name or former address, if changed since last report)
_________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.01 Par ValueVACNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   



Item 2.02 Results of Operations and Financial Condition.
On January 20, 2021, Marriott Vacations Worldwide Corporation (the “Company”) issued a press release providing a business update amidst the evolving coronavirus situation.
A copy of the Company’s press release is attached as Exhibit 99.1 and is incorporated by reference into this Item 2.02.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this Form 8-K constitute “forward-looking statements” within the meaning of federal securities laws. These forward-looking statements are based on current expectations and assumptions that involve risks and uncertainties and on information available to the Company as of the date hereof. The Company cautions you that these statements are not guarantees and are subject to numerous risks and uncertainties, such as: the effects of the COVID-19 outbreak, including reduced demand for vacation ownership and exchange products and services, volatility in the international and national economy and credit markets, worker absenteeism, quarantines or other travel or health-related restrictions; the length and severity of the COVID-19 pandemic; competitive conditions, and other matters referred to under the heading “Risk Factors” contained in the Company’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed in or implied in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are being filed with this report: 
Exhibit NumberDescription
Press release issued on January 20, 2021 providing a business update amidst the evolving coronavirus situation
101Cover Page Interactive Data File (embedded within the Inline XBRL document)

1


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
MARRIOTT VACATIONS WORLDWIDE CORPORATION
(Registrant)
Dated: January 20, 2021By:/s/ John E. Geller, Jr.
Name:John E. Geller, Jr.
Title:President and Chief Financial Officer

2
Document
Exhibit 99.1

https://cdn.kscope.io/04b90905dca5f31a75b0960fdbfc91aa-mvwbannerforpressrelease1a.jpg
Neal Goldner
Investor Relations
Marriott Vacations Worldwide
407.206.6149
Neal.Goldner@mvwc.com
Ed Kinney
Corporate Communications
Marriott Vacations Worldwide
407.206.6278
Ed.Kinney@mvwc.com
Marriott Vacations Worldwide Announces Preliminary Fourth Quarter 2020 Results
ORLANDO, Fla. - January 20, 2021 - Marriott Vacations Worldwide Corporation (NYSE: VAC) announced today that it expects to report the following preliminary fourth quarter 2020 results.
Fourth Quarter 2020 Preliminary Results:
Contract sales for Vacation Ownership increased more than 25% sequentially to $178 million.
VPG increased 9% year-over-year in the fourth quarter and tours declined 59%.
Interval International exchange 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 billion of 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 February 24, 2021. Until the Company reports its audited results for the quarter, the preliminary, unaudited results described in this press release are estimates only and are subject to revisions that could differ materially.
About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. The Company has a diverse portfolio that includes seven vacation ownership brands. It also includes exchange networks and membership programs, as well as management of other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.
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Marriott Vacations Worldwide Announces Preliminary Fourth Quarter 2020 Results / 2
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 U.S. Securities and Exchange Commission (the “SEC”) and in subsequent SEC filings, any of which could cause actual results to differ materially from those expressed in or implied in this press release. These statements are made as of the date of issuance and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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