2024-03-25 12:24:39 ET
Summary
- Marriott Vacations Worldwide Corporation is one of the leading timeshare companies with renowned resort brands and a strong market presence.
- The timeshare property market is growing, driven by increasing demand from consumers who want affordable vacation ownership options.
- Marriott Vacations Worldwide has a solid capital structure, favorable liquidity levels, and sustainable profitability, making it an attractive investment opportunity.
The company and my growth thesis for the company and the sector
Marriott Vacations Worldwide Corporation is a publicly traded timeshare company that was formerly part of a division of Marriott International. The company boasts several upper upscale resort brands that are renowned for their exceptional standards, positioning it as one of the leaders in this market segment. Its brands include Marriott Vacation Club (with more than 70 properties on several continents), Sheraton Vacation Club , Westin Vacation Club , Grand Residences by Marriott , The Ritz-Carlton Club , St Regis Residence Club , and Hyatt Vacation Club .
In addition, the company provides temporary property exchange and property management services. The two other companies involved with Marriott Vacations Worldwide Corporation are Interval International and Aqua-Aston Hospitality .
The company operates in two distinct segments, but which complement each other in delivering value to the end customer, which are: Vacation Ownership (includes timeshare sales, consumer property financing, and resort management) and Exchange & Third-Party Management (includes operating exchange programs and property management for other timeshare and resort companies). The core of the business is Vacation Ownership, as can be seen in the graph below...
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Marriott Vacations: Still Cheap Due To Conservative Valuation, Debts Under Control