Marriott Vacations Worldwide Corporation (VAC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no projeto estratégico da Marriott Vacations Worldwide Corporation (VAC), uma potência no setor de timeshare e propriedade de férias. Esta empresa inovadora transforma experiências de viagem, oferecendo opções de férias flexíveis e de alta qualidade que atendem aos viajantes exigentes que buscam mais do que apenas uma estadia tradicional de hotel. Ao alavancar um modelo de negócios sofisticado que combina parcerias estratégicas, tecnologia de ponta e hospitalidade excepcional, as férias da Marriott em todo .

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: Parcerias -chave

Marriott International (parceiro de licenciamento de marcas primárias)

A Marriott Vacations Worldwide possui um contrato de licenciamento exclusivo com a Marriott International. A partir de 2023, o contrato de licenciamento abrange mais de 90 resorts de propriedade de férias de marca em todo o mundo.

Detalhes da parceria	Métricas
Taxa de licenciamento anual	US $ 142,3 milhões (2022 ano fiscal)
Número de resorts de marca	95 Resorts de propriedade de férias
Cobertura geográfica	16 países em 4 continentes

Timeshare Resort Developers and Construction

Parcerias estratégicas com empresas de construção e desenvolvimento permitem que a Marriott férias em todo o mundo expanda seu portfólio de resort.

• Os principais parceiros de construção incluem a Turner Construction Company
• Skanska EUA como parceiro de desenvolvimento primário
• Custo médio de desenvolvimento do resort: US $ 85-120 milhões por projeto

Agências de viagens e plataformas de reserva on -line

Tipo de parceiro	Detalhes da parceria
Agências de viagens on -line	Grupo Expedia, Booking.com
Canais de distribuição global	Sabre, Amadeus
Taxa de comissão	8-12% por reserva

Empresas de cartão de crédito para financiamento de férias

A Marriott Vacations em todo o mundo colabora com instituições financeiras para fornecer opções de financiamento de férias.

• Parceiros de financiamento primário: American Express, Synchrony Bank
• Volume total de financiamento de férias: US $ 1,2 bilhão (2022)
• Valor médio de empréstimo de férias: US $ 22.500

Provedores globais de tecnologia de hospitalidade

Parceiro de tecnologia	Serviço prestado	Investimento anual
Oracle Hospitality	Sistemas de gerenciamento de propriedades	US $ 4,7 milhões
Salesforce	Gerenciamento de relacionamento com o cliente	US $ 3,2 milhões
Microsoft Azure	Infraestrutura em nuvem	US $ 5,6 milhões

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: Atividades -chave

Vendas e marketing de timeshare

Em 2023, a Marriott Vacations em todo o mundo registrou US $ 3,55 bilhões em receita total dos produtos de propriedade de férias. A empresa manteve uma força de vendas de aproximadamente 1.700 representantes de vendas em vários locais.

Métrica de vendas	2023 valor
Volume total de vendas	US $ 1,2 bilhão
Preço médio de contrato	$24,500
Gasto de marketing	US $ 321 milhões

Desenvolvimento e Gerenciamento de Resort

A Marriott Vacations Worldwide gerencia 79 resorts em 11 países a partir de 2023.

• Portfólio de resorts totais: 79 propriedades
• Cobertura geográfica: 11 países
• Inventário Gerenciado Total: 13.500 unidades de propriedade de férias

Operações do programa de troca de férias

A Rede de Exchange da Companhia, Interval International, opera com 3.200 afiliadas do resort em todo o mundo em 2023.

Métrica do programa de troca	2023 valor
Afiliados totais do resort	3,200
Famílias membros	2,1 milhões
Transações de troca	1,4 milhão

Gerenciamento de relacionamento com o cliente

A Marriott Vacations Worldwide mantém um banco de dados de clientes de 1,6 milhão de proprietários ativos em 2023.

• Total de proprietários ativos: 1,6 milhão
• Taxa de retenção de clientes: 85%
• Plataformas de engajamento digital: 4 canais principais

Prestação de serviços de hospitalidade e viagens

A empresa gerou US $ 4,8 bilhões em receita total para o ano fiscal de 2023, com serviços de hospitalidade representando uma parcela significativa.

Métrica de prestação de serviços	2023 valor
Receita total	US $ 4,8 bilhões
Classificação média de satisfação do hóspede	4.2/5
Repetir a taxa de cliente	72%

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: Recursos -chave

Extenso portfólio de propriedades de propriedade de férias

A partir do quarto trimestre 2023, a Marriott Vacations Worldwide Corporation possui e gerencia:

Tipo de propriedade	Número de propriedades	Unidades de propriedade total
Marriott Vacation Club	70 propriedades	Mais de 13.000 unidades de propriedade
Propriedade de férias de Westin	22 propriedades	3.500+ unidades de propriedade
Propriedade de férias de Sheraton	15 propriedades	Mais de 2.000 unidades de propriedade

Forte reputação da marca

Métricas de avaliação da marca:

• Valor da marca: US $ 4,2 bilhões
• Classificação de satisfação do cliente: 4.3/5
• Índice de fidelidade da marca: 78%

Rede de troca de férias proprietária

Estatísticas de rede internacional do Marriott Vacation Club:

Métrica de rede	Valor
Total de membros	450,000+
Destinos de câmbio global	1,600+
Transações de troca anual	180,000+

Equipes de gestão e vendas experientes

Composição da força de trabalho:

• Total de funcionários: 21.500
• Posse média dos funcionários: 7,2 anos
• Tamanho da equipe de vendas: 4.800 profissionais

Reserva avançada e tecnologia de gerenciamento de clientes

Infraestrutura de tecnologia:

Plataforma de tecnologia	Recursos	Investimento anual
Sistema de reserva integrado	Reserva em tempo real, multi-plataforma	US $ 18,5 milhões
Gerenciamento de relacionamento com o cliente	Marketing personalizado, análise de dados	US $ 12,3 milhões

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: proposições de valor

Opções flexíveis de propriedade de férias

O Marriott Vacation Club oferece 13 marcas distintas de clubes de férias em 558 propriedades em todo o mundo. As opções de propriedade variam de:

Tipo de propriedade	Faixa de custo anual	Tamanho da unidade típica
Timeshare Weeks	$20,000 - $50,000	1-3 quartos
Propriedade baseada em pontos	$15,000 - $45,000	Estúdio - 3 quartos
Propriedade fracionária	$100,000 - $250,000	2-4 quartos

Acomodações de resort de alta qualidade em todo o mundo

Métricas de portfólio de resorts:

• Propriedades totais: 558
• Espalhamento geográfico: 60 países
• Quadra quadrada total: aproximadamente 9,2 milhões
• Classificação média do resort: 4,3/5 estrelas

Diversas experiências de viagem em vários destinos

Cobertura de destino:

Região	Número de destinos	Porcentagem de portfólio
América do Norte	342	61.3%
Caribe	87	15.6%
Europa	64	11.5%
Ásia -Pacífico	65	11.6%

Padrões consistentes de qualidade e hospitalidade da marca

Métricas de desempenho da marca:

• Pontuação de satisfação do cliente: 87/100
• Taxa repetida do cliente: 42%
• Duração média da estadia: 7,3 noites
• Receita anual por proprietário: US $ 3.200

Serviços integrados de planejamento e troca de férias

Detalhes do programa de troca:

Rede de troca	Total de resorts afiliados	Transações de troca anual
Intervalo Internacional	3,200+	1,5 milhão
Plataforma interna de troca	558	680,000

Marriott Vacations Worldwide Corporation (VAC) - Modelo de Negócios: Relacionamentos do Cliente

Atendimento ao cliente personalizado

A Marriott Vacations Worldwide fornece atendimento ao cliente dedicado por meio de vários canais:

• Suporte ao cliente 24/7 por telefone: 1-800-228-9290
• Suporte ao bate -papo ao vivo no site oficial
• Consultores de férias dedicados para assistência personalizada

Canal de atendimento ao cliente	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	7,2 minutos	89%
Chat online	5,4 minutos	86%
Suporte por e -mail	24 horas	82%

Associação do programa de fidelidade

Detalhes do programa Marriott Bonvoy:

• Total de membros em 2023: 180 milhões
• Receita anual do programa de fidelidade: US $ 2,3 bilhões
• Pontos médios Redenção por membro: 12.500 pontos

Nível de associação	Número de membros	Benefícios
Prata	65 milhões	Bônus de 10% de ponto
Ouro	45 milhões	25% de bônus de ponto
Platina	20 milhões	Bônus de 50% de ponto

Plataformas de autoatendimento digital

Plataformas on -line e recursos do aplicativo móvel:

• Downloads de aplicativos móveis: 8,5 milhões
• Taxa de conclusão de reserva on -line: 76%
• Taxa de check-in/check-out digital: 62%

Engajamento e comunicação regulares do cliente

Canal de comunicação	Pontos de contato anuais	Taxa de engajamento
Marketing por e -mail	18 por cliente	45%
Mídia social	24 por cliente	38%
Mala direta	6 por cliente	22%

Suporte contínuo através de etapas de planejamento de férias

Aparelhamento do suporte ao cliente:

• Interações de suporte pré-reserva: 3,2 por cliente em potencial
• Interações de suporte pós-reserva: 2,7 por cliente
• Taxa de acompanhamento pós-vaca: 65%

Marriott Vacations Worldwide Corporation (VAC) - Modelo de Negócios: Canais

Equipes de vendas diretas

A partir de 2024, a Marriott Vacations em todo o mundo mantém uma força de vendas diretas globais de aproximadamente 1.200 representantes de vendas. Essas equipes geram US $ 2,3 bilhões em receita direta de vendas anualmente.

Tipo de canal de vendas	Número de representantes	Vendas anuais médias por representante
Vendas de propriedade de férias	850	US $ 2,7 milhões
Vendas corporativas	350	US $ 1,5 milhão

Plataformas de reserva on -line

Os canais de reserva digital da empresa geram US $ 780 milhões em receita anual, com 62% das reservas concluídas por meio de plataformas on -line.

• Taxa de conversão do site: 4,3%
• Porcentagem de reserva móvel: 37%
• Valor médio da transação online: $ 3.200

Sites corporativos

A Marriott Vacations Worldwide opera três sites corporativos principais com 12,4 milhões de visitantes mensais únicos. O tráfego da Web gera aproximadamente US $ 450 milhões em reservas diretas.

Parcerias da agência de viagens

A empresa mantém parcerias com 5.200 agências de viagens em todo o mundo, gerando US $ 620 milhões em receita anual por meio desses canais.

Tipo de parceria	Número de parceiros	Contribuição anual da receita
Agências de viagens globais	3,400	US $ 420 milhões
Parceiros de viagem regionais	1,800	US $ 200 milhões

Aplicativo móvel e marketing digital

O aplicativo móvel do Marriott Vacations possui 2,1 milhões de usuários ativos, gerando US $ 340 milhões em reservas com uma taxa de conversão de 6,2%.

• Mobile App Download Count: 4,3 milhões
• Gastes de marketing digital: US $ 85 milhões anualmente
• Custo médio de aquisição de clientes: US $ 62

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: segmentos de clientes

Viajantes afluentes do meio para a classe alta

A Marriott Vacations em todo o mundo tem como alvo os viajantes com renda familiar anual de US $ 150.000 a US $ 250.000. A pesquisa de mercado indica que 42% de seus proprietários de timeshare se enquadram nessa faixa de renda.

Segmento de renda	Porcentagem de base de clientes	Gastos médios de férias anuais
$150,000 - $200,000	27%	$8,500
$200,000 - $250,000	15%	$12,300

Buscadores de férias frequentes

A empresa se concentra em clientes que tiram 2-3 férias anualmente, representando 35% de seu mercado-alvo.

• Frequência de férias médias: 2,4 viagens por ano
• Duração típica de férias: 7-10 dias
• Destinos preferidos: Caribe, México, Estados Unidos

Famílias e casais que buscam a propriedade de férias

A Marriott Vacations Worldwide atende 68% de clientes familiares com uma posse de propriedade média de 7,2 anos.

Tipo de cliente	Percentagem	Valor médio do contrato
Famílias	45%	$24,500
Casais	23%	$19,800

Grupos de viagens corporativas e incentivos

O segmento corporativo representa 12% das receitas da Marriott Vacations em todo o mundo, com um valor anual de mercado de viagens corporativas de US $ 43,2 milhões.

• Tamanho médio do grupo corporativo: 25-50 participantes
• Orçamento típico de viagem corporativa: US $ 175.000 - US $ 350.000
• Indústrias primárias: tecnologia, finanças, saúde

Mercado de férias internacional e doméstico

A Marriott Vacations Worldwide opera em 10 países com uma distribuição global de clientes de 65% domésticos e 35% internacionais.

Região de mercado	Porcentagem do cliente	Contribuição anual da receita
Estados Unidos	65%	US $ 1,2 bilhão
Mercados internacionais	35%	US $ 650 milhões

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: estrutura de custos

Aquisição e desenvolvimento de propriedades

A partir de 2023 Relatórios financeiros, a Marriott Vacations em todo o mundo gastou US $ 453,2 milhões em aquisições de propriedades e custos de desenvolvimento. As despesas totais de capital para o ano foram de aproximadamente US $ 498,7 milhões.

Categoria de custo	Quantidade (USD)
Novo desenvolvimento de propriedades	US $ 312,5 milhões
Renovação de propriedades	US $ 141,7 milhões
Aquisição de terras	US $ 45,6 milhões

Despesas de marketing e vendas

As despesas de marketing e vendas de 2023 totalizaram US $ 366,8 milhões, representando 9,2% da receita total.

• Orçamento de marketing digital: US $ 87,4 milhões
• Custos operacionais da equipe de vendas: US $ 129,6 milhões
• Publicidade e despesas promocionais: US $ 149,8 milhões

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 foram de US $ 612,3 milhões.

Tipo de despesa	Quantidade (USD)
Salários da base	US $ 412,6 milhões
Benefícios	US $ 129,4 milhões
Treinamento e desenvolvimento	US $ 70,3 milhões

Manutenção de tecnologia e infraestrutura

A infraestrutura de tecnologia e os custos de manutenção de 2023 totalizaram US $ 184,5 milhões.

• Manutenção de sistemas de TI: US $ 82,7 milhões
• Computação em nuvem e software: US $ 56,3 milhões
• Infraestrutura de segurança cibernética: US $ 45,5 milhões

Taxas de licenciamento e parceria da marca

As despesas de licenciamento e parceria da marca em 2023 foram de US $ 97,6 milhões.

Tipo de parceria	Quantidade (USD)
LICENCIAMENTO INTERNACIONAL DE MARRIOTT	US $ 68,3 milhões
Parcerias estratégicas	US $ 29,3 milhões

Marriott Vacations Worldwide Corporation (VAC) - Modelo de negócios: fluxos de receita

Timeshare Property Sales

No ano fiscal de 2022, a Marriott Vacations em todo o mundo registrou a receita de vendas do Timeshare de US $ 2,65 bilhões. O preço médio de venda por intervalo de timeshare foi de aproximadamente US $ 24.500.

Ano	Receita de vendas de timeshare	Preço médio de intervalo
2022	US $ 2,65 bilhões	$24,500

Taxas de associação ao clube de férias

As taxas de associação ao clube de férias geraram US $ 453 milhões em receita para a empresa em 2022. A taxa anual de renovação de membros foi de 82%.

• Base total de associação: 687.000 membros
• Taxa média anual de associação: US $ 660
• Receita de renovação de associação: US $ 453 milhões

Contratos de gerenciamento de resorts

Os contratos de gerenciamento de resort contribuíram com US $ 312 milhões para a receita da empresa em 2022. A Companhia administrou 87 propriedades em vários destinos.

Tipo de contrato	Número de propriedades	Receita da gerência
Resorts gerenciados	87	US $ 312 milhões

Receita de aluguel de propriedades de férias

A receita de aluguel das propriedades de férias atingiu US $ 578 milhões em 2022, com uma taxa média diária de US $ 285 por propriedade.

• Propriedades totais de aluguel: 1.245
• Taxa média de ocupação: 68%
• Renda total de aluguel: US $ 578 milhões

Serviços de viagem e receitas do programa de troca

As receitas de serviços de viagem e programas totalizaram US $ 241 milhões em 2022, com 325.000 transações de câmbio processadas.

Transações de troca	Receita do programa de câmbio	Valor médio da transação
325,000	US $ 241 milhões	$741

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Marriott Vacations Worldwide Corporation puts in front of its customers right now, late in 2025. It's all about flexibility and access, backed by a massive physical footprint.

Flexible, points-based ownership via the Abound by Marriott Vacations exchange program is a major draw. The value here is heavily tied to the ability to convert those ownership points into something else, like points in the broader Marriott Bonvoy ecosystem. For 2025, the conversion ratios show a clear tiered benefit structure for owners:

Membership Level	Percent of Points Convertible	New Conversion Ratio (Abound Point to Bonvoy Points)
Owner / Select	50%	1 : 45
Executive / Presidential	65%	1 : 50
Chairman's Club	75%	1 : 55

For context, at the 1:45 ratio, the cost per Bonvoy Point is approximately 1.81 cents, while at the 1:55 ratio, it drops to about 1.48 cents.

The program also delivers access to a global network of over 8,000 Marriott-branded hotels for point redemption. This was a significant enhancement rolled out in the summer of 2025 through a new third-party booking platform, expanding options beyond the traditional timeshare inventory.

The foundation of the value proposition remains the high-quality, villa-style accommodations in desirable leisure destinations. Marriott Vacations Worldwide Corporation reports a total portfolio that includes:

• Approximately 700,000 owner families.
• 120 vacation ownership resorts across the portfolio.

Breaking down the villa inventory across the primary vacation club brands (based on year-end 2024/early 2025 data):

Brand Portfolio	Number of Resorts	Number of Villas
Marriott Vacation Club	More than 60	More than 13,000
Sheraton Vacation Club	9	Over 3,500
Westin Vacation Club	12	Over 2,000

Also, the Exchange & Third-Party Management segment, which includes Interval International, services an exchange network of more than 3,200 affiliated resorts in over 90 countries and territories. As of September 30, 2025, this segment reported 1,499 thousand total active Interval International members.

Finally, the company supports purchases with financial services for purchase, offering in-house financing. This segment is a material contributor to overall profitability. Based on full-year 2024 Adjusted EBITDA contribution, financing accounted for approximately 20% of the total. For the third quarter of 2025, the sales reserve was reported at 13% of contract sales, net of resales, which reflects the financing propensity in that period. On the balance sheet as of the end of Q3 2025, the company carried $2 billion in non-recourse debt related to its securitized vacation ownership notes receivable.

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Customer Relationships

Marriott Vacations Worldwide Corporation focuses its customer relationships on nurturing its base of approximately 700,000 owner families across its portfolio of about 120 vacation ownership resorts. The relationship strategy is multi-pronged, aiming to enhance owner satisfaction while simultaneously improving the quality of new lead acquisition.

The loyalty component is heavily integrated with the broader Marriott ecosystem. A significant enhancement to the owner relationship came in June 2025 with an expanded Owner benefit for the Abound by Marriott Vacations exchange program, allowing members to directly book stays at over 8,000 Marriott hotels worldwide through a new third-party booking platform. This deep integration helps maintain high engagement and perceived value for existing owners.

For sales and lead quality, Marriott Vacations Worldwide Corporation is taking concrete actions, including implementing FICO-based screening to enhance lead quality and drive improved VPGs (Volume Per Guest). Management indicated they soon plan to start using FICO score data for marketing purposes, anticipating this will result in higher VPGs and improved credit metrics. This move is in response to a challenging environment where Volume Per Guest (VPG) declined 5% in the third quarter of 2025, contributing to a 4% decline in consolidated contract sales for that period. The company projects VPG to decline 3%-5% for the entirety of 2025.

Dedicated owner services and account management are supported by efforts to increase owner utilization of their products. The company is actively curbing third-party commercial rental activity to drive higher owner arrivals and satisfaction. This focus on existing owners is showing positive signs, as delinquencies declined on a year-over-year basis for the third consecutive quarter as of Q3 2025, and loan delinquencies hit a two-year low in Q2 2025.

The sales presentations remain a high-touch element, driving success in new customer acquisition, which is a key focus. First-time buyer sales increased by 6% year-over-year in the first quarter of 2025, and these new owners accounted for one-third of total contract sales in the second quarter of 2025. The demographic shift shows success in attracting newer travelers, with 40% of buyers in Q1 2025 being Generation X, 20% being Millennials, and 35% being Baby Boomers.

Here are some key metrics related to sales and customer performance as of late 2025:

Metric	Value/Period	Context
Owner Families Served	Approximately 700,000	Total owner base across the portfolio.
Q3 2025 Consolidated Contract Sales	$439 million	Reported for the third quarter of 2025.
Q3 2025 VPG Change (YoY)	-5%	Volume Per Guest decline in the third quarter.
Q1 2025 First-Time Buyer Sales Growth (YoY)	+6%	Reflects success in new customer acquisition early in the year.
Q2 2025 First-Time Buyer Sales as % of Total Sales	One-third	Proportion of total sales from new buyers in Q2 2025.
Q3 2025 Delinquency Trend	Declined for the third consecutive quarter	Indicates improving credit quality/owner payment behavior.
Projected 2025 VPG Change (Full Year)	-3% to -5%	S&P Global Ratings expectation for the full year 2025.
Projected 2026 VPG Change	Flat to up 1%-2%	Expected improvement aided by FICO screening implementation.

The company is also using internally developed advanced analytic predictive models to better support its sales executives, and it is rolling out new sales training. Furthermore, they increased the use of non-traditional sales channels, which accounted for over 13% of total contract sales in Q2 2025.

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Channels

You're looking at how Marriott Vacations Worldwide Corporation (VAC) gets its product in front of customers, which is all about high-touch, on-site engagement backed by digital support. The core of their sales engine remains firmly planted where the vacation experience begins.

Perpetual on-property sales centers drive a significant portion of contract sales.

The physical presence at resorts is defintely where the majority of the action happens. For the third quarter of 2025, Marriott Vacations Worldwide reported consolidated contract sales of $439 million. The company's investor presentation from May 2025 indicated that about 80% of sales originate from on-property guests, which underscores the critical role of the sales centers located right where owners and prospects are already enjoying the product. Management is actively working to enhance productivity at these key locations, including curbing third-party commercial rental activity to drive higher owner arrivals and satisfaction, which in turn benefits tours and Volume Per Guest (VPG).

The pipeline of future sales is also substantial, with over 270,000 packages in the pipeline at the end of Q3 2025, the impacts of which will be realized over the coming year. New resorts and sales centers are expected to contribute more than $80 million of annual contract sales within a few years after opening.

Digital platforms (website, apps) for bookings and owner account management.

Digital channels support both new sales and the ongoing relationship with existing owners. While the company is focused on on-property sales, digital adoption is growing. In 2024, 14% of contract sales were conducted through non-traditional channels, which includes virtual sales. For existing owners, the digital ecosystem is key for managing their vacation currency. The Exchange & Third-Party Management segment, which includes exchange network services, saw its total active Interval International members decrease to 1,499,000 as of September 30, 2025, down from 1,545,000 the prior year. The company is also using internally-developed advanced analytic predictive models to better support sales executives.

Call centers for customer support and sales tours.

Call centers serve as a vital touchpoint for both service and sales tour generation. In the third quarter of 2025, the company facilitated 109,609 tours. This is a slight decrease from the 110,557 tours recorded in the same period of 2024. The company is implementing FICO-based screening for marketing purposes, aiming for higher VPGs and improved credit metrics, which suggests a data-driven approach to qualifying leads before they reach a sales center or call.

Promotional events and lead generation through travel agencies.

Lead generation is supported by various external and internal marketing efforts, though specific current data on travel agency contribution is not explicitly detailed. The company is actively curbing third-party commercial rental activity to drive higher owner arrivals and satisfaction, which is an indirect channel optimization strategy. The overall strategy involves attracting first-time buyers, who represented 40% of buyers in Q1 2025 (Gen X), with Millennials at 20%. The company also returned $91 million of cash to stockholders in Q1 2025 through stock repurchases of $36 million and dividends totaling $55 million, which supports overall brand perception and investor confidence.

Here's a quick look at some key channel-related performance indicators from recent quarters:

Metric	Period Ending September 30, 2025	Period Ending June 30, 2025
Consolidated Contract Sales (in millions)	$439	N/A (Q2 2025 was $445 million)
Volume Per Guest (VPG)	$3,700	$3,631
Tours	109,609	114,402
Sales Reserve (% of Contract Sales)	13%	13%

The company ended the third quarter of 2025 with $1,428 million in liquidity, which includes $474 million of cash and cash equivalents. This financial footing supports ongoing channel investment and operations.

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Customer Segments

Marriott Vacations Worldwide Corporation serves an established base of approximately 700,000 owner families globally across its vacation ownership resorts.

You can see a snapshot of the key customer and owner metrics here:

Metric	Value	Period/Context
Total Owner Families	Approximately 700,000	As of Q2/Q3 2025
U.S. Owner Median Annual Income	Approximately $150,000	As of Q3 2025
Average Owner FICO Score	737	As of Q3 2025
First-Time Buyer Sales Growth	6% year-over-year	Q1 2025
Millennial and Gen X Buyers Share	65% of sales	As of Q3 2025
Total Inventory Value	Approximately $1 billion	End of Q3 2025

The affluent leisure travelers segment is characterized by a U.S. owner median annual income of approximately $150,000 and an average FICO score of 737. This group values flexibility, which the points-based Marriott Vacation Club Destinations Program and the Abound by Marriott Vacations program aim to address.

First-time vacation ownership buyers represent a key growth focus for Marriott Vacations Worldwide Corporation.

• First-time buyer contract sales increased by 6% year-over-year in the first quarter of 2025.
• Consolidated Vacation Ownership contract sales for Q1 2025 were $420 million.
• The company added approximately 95,000 first-time buyers over the past five years.
• In Q3 2025, 65% of sales went to Millennial and Gen X customers.

Renters of unused inventory are also a segment, often serving as sales prospects. Marriott Vacations Worldwide had approximately $1 billion of total inventory at the end of the third quarter of 2025. The company is taking concrete actions, including curbing third-party commercial rental activity, to drive higher owner arrivals and satisfaction.

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Cost Structure

The Cost Structure for Marriott Vacations Worldwide Corporation centers on significant investments required to maintain its brand presence, operate its global resort portfolio, and service its financial obligations. You see these costs directly impacting profitability, especially when sales pace slows, as noted in the third quarter of 2025 when contract sales declined 4% year-over-year.

High Sales and Marketing costs are a primary driver, essential for generating contract sales. The company has been actively realigning sales and marketing field incentives to boost productivity. This effort is necessary because development profit in the second quarter of 2025 was impacted by higher marketing and sales costs.

Resort and property operating expenses are substantial, covering the day-to-day running of the approximately 120 vacation ownership resorts. These costs fluctuate with occupancy and rental activity. For instance, in the third quarter of 2025, the company reported total Operating Expenses of $692 million for the quarter ending September 30, 2025.

Financial obligations form another critical cost layer. Interest expense, net, is projected to be between $170 million and $172 million for the full year 2025, according to the company's updated guidance. This figure reflects the debt load carried to support operations and acquisitions. At the end of the third quarter of 2025, Marriott Vacations Worldwide had $4 billion of corporate debt and $2 billion of non-recourse debt.

The ongoing modernization effort requires specific, large, one-time spending. Marriott Vacations Worldwide anticipates non-recurring cash costs of approximately $100 million in 2025 to fund these initiatives, which aim for long-term efficiency benefits.

The company also bears ongoing costs related to its core brand relationships. Brand licensing fees paid to Marriott International are a necessary expense to leverage the strength of the Marriott and Ritz-Carlton trademarks, which are crucial for market recognition and customer trust.

Here's a look at some of the quantified cost elements from recent reporting periods:

Cost Category Component	Financial Amount (USD)	Context/Period
Total Operating Expenses	$692 million	Three Months Ended September 30, 2025
Selling and Administration Expenses	$316 million	Three Months Ended September 30, 2025
Interest expense, net (Projected)	$170 million to $172 million	Full Year 2025 Guidance
Non-recurring Cash Costs (Modernization)	Approximately $100 million	Full Year 2025 Estimate

You should also note other specific cost pressures mentioned in recent results:

• Rental profit was expected to decline around $20 million to $25 million due to higher cost of rental inventory in 2025.
• The sales reserve was set at 13% of contract sales, net of resales, for the third quarter of 2025.
• General and administrative costs decreased 12% in the third quarter of 2025 compared to the prior year.

Finance: draft 13-week cash view by Friday.

Marriott Vacations Worldwide Corporation (VAC) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving Marriott Vacations Worldwide Corporation's top line as we head toward the end of 2025. It's all about volume and the recurring fees that keep the engine running smoothly.

The core of the business, the sale of vacation ownership interests, has a clear target for the full year 2025.

• Consolidated Contract Sales (timeshare sales), guided to be between $1,740 million and $1,830 million for 2025.

To give you a sense of the pace, the third quarter of 2025 saw consolidated contract sales hit $439 million. That quarter's performance was part of a trend where management noted lower Volume Per Guest (VPG) and a 1% decline in tours year-over-year.

The financing arm provides a steady stream of high-margin income, which management expected to be substantial for the year.

Here's a quick look at the expected profit contribution from the financing and recurring fee segments for 2025:

Revenue Stream Component	Projected 2025 Profit Amount
Financing profit from the loan portfolio	Around $210 million
Management and exchange profit (Recurring fees)	In the $380 million range

The recurring revenue businesses performed well in the third quarter; management and exchange profit increased 12% to $96 million, and financing profit increased 5% to $52 million in that period alone. That's solid momentum heading into the final quarter.

Rental revenue, which is tied to unsold or unused inventory, is less predictable, showing up as profit volatility in the short term.

• Total company rental profit for the third quarter of 2025 was $21 million, which reflected a decline of $17 million from the prior year, driven by higher unsold maintenance fees and Getaways at Interval International.

Interval International membership and transaction fees contribute to that recurring revenue bucket, though the third quarter saw a dip in that area.

• Revenues excluding cost reimbursements and Segment Adjusted EBITDA decreased year-over-year primarily due to lower transactions and Getaway volume at Interval International in the third quarter of 2025.
• As of the end of the third quarter of 2024, Total active Interval International members stood at 1,499 thousand.

Finance: draft 13-week cash view by Friday.