Marriott Vacations Worldwide : 1st Quarter 2026 Presentation
VAC
Published on 05/05/2026 at 07:15 am EDT
Investor Presentation
May 5, 2026
Driving Sustained Long-Term Growth
Unique and resilient business model
Consistent and sustainable growth
Taking actions to improve profitability and free cash flow
3
Vacation Ownership
~90%
Adjusted
EBITDA
Contribution
~10%
Exchange and Third-Party Management
Iconic Brands
Owner Families
Resorts
Upper Upscale Resorts
by Segment*
Interval International Members
Countries and Territories
Exchange Resorts
Exchange Company
All values as of 12/31/2025 and Adjusted EBITDA contribution based on full year 2025 results.
Business Benefits
Products Timeshare + exchange Diverse cash flow
Brands 7 brands
Selling both Marriott- and Hyatt-branded products
Demand
Drive demand via direct
marketing and occupancy
Direct selling model results in
more resilient sales performance
Sales Centers "Sell the systems"
Perpetual sales centers and more efficient marketing channels
Capital efficient
Offering Primarily points-based Flexibility
Development Model
High margins and consistent free cash flow
All numbers are approximate.
40%
Recurring
Adjusted EBITDA Contribution*
Management and Exchange
35%
Financing
20%
10%
Rentals
Development
35%
Vacation Ownership
~55M 740
Households - addressable market in U.S. alone
Average FICO score
~80% Owners with no loan
~$155K
U.S. Owner median annual income
Addressable households based on 2024 data from the American Community Survey. FICO score based on buyers who financed their purchase in full year 2025. U.S. Owner annual income and owners without
Pre-paid Vacations Drive
High Resort Occupancy
Most Sales Come from On-Property Guests1
90% 89%
from resort guests
2024 2025
Number of Loyalty Members (M)
271
63
Membership fees
Getaway transactions
~40% of Members are MVW Vacation Ownership Owners
Exchange transactions
Numerous sources of revenue
Capital expenditures only
4% of revenue
(ex. cost reimbursement)
Other revenue
Segment Adjusted EBITDA*
at
Margin*
All numbers based on full year 2025 results.
Gross notes available for securitization1
$108M
Additional borrowing capacity under revolving credit facility
$478M
As of March 30, 2026
Available cash on hand
$268M
~$850 Million of Liquidity
Term loan B
Drawn portion of revolver
Unsecured notes
Convertible notes
2033
2032
2031
2030
2029
2028
2027
2026
$310
Revolving
$350 Credit
Facility1
$500
$575
$575
-
$786
$800
$490
Corporate Debt Maturity Schedule
($M)
All numbers as of 3/30/2026 and excludes non-recourse securitized debt and finance leases.
Disciplined Capital Allocation Model
Strong Adjusted
Free Cash Flow Generation
Investment
Return capital to stockholders
Corporate debt reduction
New leisure-related opportunities
Share repurchases
Dividends
Reduce leverage
13
Driving Sustained Long-Term Growth
Unique and resilient business model
Consistent and sustainable growth
Taking actions to improve profitability and free cash flow
14
Three-Point Growth Strategy
1
Launching new initiatives to drive tours and contract sales
2
Adding new owners drives future revenue streams
3
Taking actions to improve profitability and free cash flow
15
5. Adj. EBITDA
& Cash Flow
4. Rental
Profit
Contract Sales
Financing
Profit
Contract sales create
recurring
financing and management fee income
Management Profit
Partnership Marketing
Branded Hotel Loyalty Programs
Digital & Traditional Advertising
Tour More On-Site Owners
Lead Collection
Sell tour packages • Capture on-site owners & guests
Tours
On-site and off-site sales centers
Virtual tours
Sales
Commercial Growth Strategy
Launch experiential event marketing
Enhance sales effectiveness
and talent
Create new loyalty tiers
Expand brand affinity tours
Employ data-driven tour logistics
Increase in-house
capture rate
30%
Boomers
5%
Other
65%
Growing Sales to
Younger Generations
First-time buyers
added in last
5 years
Adding New Owners
Millennial & Gen X
Development Revenue
Financing
Revenue
Other Revenue
Financing Revenue
Management Fees, Ancillary, Rental, Other
Development Revenue
Potential Incremental Purchase
Initial Vacation Ownership Purchase
20
Disclaimer
Marriott Vacations Worldwide Corporation published this content on May 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 05, 2026 at 11:14 UTC.