Timeshare

Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2023 Results and Provides 2024 Outlook

Retrieved on: 
Wednesday, February 21, 2024

Travel and Membership revenue decreased 3% to $158 million in the fourth quarter of 2023 compared to the same period in the prior year.

Key Points: 
  • Travel and Membership revenue decreased 3% to $158 million in the fourth quarter of 2023 compared to the same period in the prior year.
  • At the end of the fourth quarter, the Company had $1.3 billion of liquidity in cash and cash equivalents and revolving credit facility availability.
  • The Company amended the credit agreement governing its $1 billion revolving credit facility and term loan B facilities on December 20, 2023.
  • Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:30 a.m.

Hedgeye Selects Sean Jenkins to Lead Firm's Gaming, Lodging & Leisure Research Team

Retrieved on: 
Thursday, January 11, 2024

STAMFORD, Conn., Jan. 11, 2024 /PRNewswire/ -- Hedgeye Risk Management, a leading independent provider of investment research and online financial media firm, announced today that Sean Jenkins has been promoted to lead the firm's Gaming, Lodging & Leisure (GLL) research team as its new Sector Head.

Key Points: 
  • STAMFORD, Conn., Jan. 11, 2024 /PRNewswire/ -- Hedgeye Risk Management, a leading independent provider of investment research and online financial media firm, announced today that Sean Jenkins has been promoted to lead the firm's Gaming, Lodging & Leisure (GLL) research team as its new Sector Head.
  • Jenkins brings a wealth of industry experience to his new role, including 8 years of investing research experience at Hedgeye.
  • In his previous role, Jenkins worked closely with the late Todd Jordan, regarded by many as one of the industry's best GLL analysts.
  • "Sean Jenkins is one of the best analysts and teammates anyone could ask for," said Hedgeye's CEO Keith McCullough .

ARDA Launches Vacation Ownership Sentiment Index to Better Track & Understand U.S. Travel Behaviors

Retrieved on: 
Monday, December 11, 2023

In an effort to better track and understand the behavior of leisure travelers in the United States, the American Resort Development Association (ARDA) today launched the Vacation Ownership Sentiment Index.

Key Points: 
  • In an effort to better track and understand the behavior of leisure travelers in the United States, the American Resort Development Association (ARDA) today launched the Vacation Ownership Sentiment Index.
  • “Domestic travel and tourism create economic growth, which is vital to our nation, states and local communities,” said Jason Gamel, president and CEO of ARDA.
  • Timeshare owners continue to maintain more positive attitudes and behaviors about leisure travel than the parallel sample of overall U.S. travelers.
  • To view the October 2023 Vacation Ownership Sentiment Index, as well as the study methodology of the index, click here .

Travel + Leisure Co. Reports Third Quarter 2023 Results

Retrieved on: 
Wednesday, October 25, 2023

Travel and Membership revenue decreased 5% to $174 million in the third quarter of 2023 compared to the same period in the prior year.

Key Points: 
  • Travel and Membership revenue decreased 5% to $174 million in the third quarter of 2023 compared to the same period in the prior year.
  • Dividend — The Company paid $33 million ($0.45 per share) in cash dividends on September 30, 2023 to shareholders of record as of September 15, 2023.
  • Management will recommend a fourth quarter dividend of $0.45 per share for approval by the Company’s Board of Directors in November 2023.
  • Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:00 a.m.

FICO® Score Remains the Most Widely Used Credit Score in the Securitization Market, Keeping Lender Confidence

Retrieved on: 
Thursday, September 28, 2023

“By far, FICO Scores are the dominant method to measure asset-backed securitization risk.

Key Points: 
  • “By far, FICO Scores are the dominant method to measure asset-backed securitization risk.
  • The FICO Score remains the dominant metric for indicating credit risk in the seven collateral classes with activity graded by top credit reporting agencies.
  • FICO® Scores are used throughout the credit lifecycle, from acquisitions to applications, and credit management.
  • For more information about the predictive power of FICO® Scores and the newest and most powerful FICO Score, FICO® Score 10 T, visit: https://www.fico.com/en/latest-thinking/white-paper/fico-score-10-and-fi... .

Travel + Leisure Co. Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, July 26, 2023

Travel and Membership revenue decreased 5% to $179 million in the second quarter of 2023 compared to the same period in the prior year.

Key Points: 
  • Travel and Membership revenue decreased 5% to $179 million in the second quarter of 2023 compared to the same period in the prior year.
  • At the end of the second quarter, the Company had $818 million of liquidity in cash and cash equivalents and revolving credit facility availability.
  • Share Repurchases — During the second quarter of 2023, the Company repurchased 2.6 million shares of common stock for $100 million at a weighted average price of $38.54 per share.
  • Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:30 a.m.

Marriott Vacations Worldwide Appoints Jason Marino as Chief Financial Officer

Retrieved on: 
Tuesday, July 25, 2023

Marriott Vacations Worldwide Corporation (NYSE: VAC) (the “Company”) today announced Jason Marino has been named Executive Vice President and Chief Financial Officer effective September 30.

Key Points: 
  • Marriott Vacations Worldwide Corporation (NYSE: VAC) (the “Company”) today announced Jason Marino has been named Executive Vice President and Chief Financial Officer effective September 30.
  • View the full release here: https://www.businesswire.com/news/home/20230725510404/en/
    Marriott Vacations Worldwide Corporation has named Jason Marino as Executive Vice President and Chief Financial Officer.
  • In his new role, Mr. Marino will report directly to John Geller, President and Chief Executive Officer.
  • “I am excited and honored to step into this role for Marriott Vacations Worldwide,” said Mr. Marino.

Expedia Cruises Drops Anchor in Riverside

Retrieved on: 
Thursday, June 1, 2023

RIVERSIDE, Calif., June 1, 2023 /PRNewswire/ -- Planning a vacation has just become a lot easier for families in Riverside with the announcement of a new Expedia Cruises location opening at 301 E. Alessandro Blvd., Ste. 3D in the Mission Grove Plaza Shopping Center.

Key Points: 
  • RIVERSIDE, Calif., June 1, 2023 /PRNewswire/ -- Planning a vacation has just become a lot easier for families in Riverside with the announcement of a new Expedia Cruises location opening at 301 E. Alessandro Blvd., Ste.
  • "As avid cruisers and travelers ourselves, helping plan the perfect vacation for our clients is something that just makes sense to us," said Abbie, owner of Expedia Cruises in Riverside.
  • Expedia Cruises – part of the Expedia Group family of brands – offers cruise vacations and full-service travel assistance through its 255+ locations across North America.
  • Expedia Cruises Vacation Consultants are provided with extensive training and marketing support, allowing them to become navigators of spectacular vacation experiences.

Praetorian Legal: Landmark Court Verdict Opens Door for a “Forgotten Generation” of Timeshare Victims to Recover Life-changing Sums

Retrieved on: 
Tuesday, May 30, 2023

He urges thousands more victims who have not come forward so far to do so.

Key Points: 
  • He urges thousands more victims who have not come forward so far to do so.
  • Victims typically took out loans of tens or hundreds of thousands of pounds to fund their purchase of these long-term schemes.
  • They funded and benefited from unscrupulous timeshare companies preying on families with high-pressure sales tactics and false investment promises.
  • A claims management company authorised by the Financial Conduct Authority, Praetorian Legal have managed these processes on behalf of thousands of victims.

Marriott Vacations Worldwide Announces Planned Retirement of Chief Financial Officer

Retrieved on: 
Wednesday, May 10, 2023

Marriott Vacations Worldwide Corporation (NYSE: VAC) (the “Company") today announced that Executive Vice President and Chief Financial Officer Anthony “Tony” Terry has decided to retire later this year.

Key Points: 
  • Marriott Vacations Worldwide Corporation (NYSE: VAC) (the “Company") today announced that Executive Vice President and Chief Financial Officer Anthony “Tony” Terry has decided to retire later this year.
  • Mr. Terry plans to stay on as CFO until the role has been filled and the transition period is complete later this year.
  • “I want to thank Tony for his contributions over the last 27 years at the Company,” said John Geller, president and chief executive officer.
  • Mr. Terry was promoted to Executive Vice President and Chief Financial Officer in October 2021.