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Marriott Vacations (VAC) Reports Contract Sales for Q4
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Marriott Vacations Worldwide Corporation (VAC - Free Report) posted fourth-quarter 2021 contract sales. During the fourth quarter, volume per guest remained well above pre-pandemic levels.
During fourth-quarter 2021, the company reported contract sales of $406 million. Stephen P. Weisz, CEO of the company, said “We ended the year strong, with contract sales above the high-end of our previous guidance range. While we have seen a modest impact in January related to Omicron, forward looking trends remain strong, illustrating the resiliency of our leisure-focused business model.”
Hoteliers are adopting aggressive technological ways to sustain competition and address the changing nature of consumer demand. Marriott Vacations has been committed to digital expansion and innovation of the latest techniques. The company has been pursuing opportunities in other social media and digital advertising platforms. Management is optimistic about integrating data analytics into its marketing strategy. It continues to utilize technology to reduce back-office costs and improve associates' experience by leveraging artificial intelligence to augment and automate several high-volume internal transactional processes.
Occupancy Improving Gradually
During fourth-quarter 2021, Marriott Vacations, which shares space with Playa Hotels & Resorts N.V. (PLYA - Free Report) , Hilton Grand Vacations Inc. (HGV - Free Report) and Choice Hotels International, Inc. (CHH - Free Report) , continues to witness robust occupancies at most of its resorts. During the third quarter of 2021, the company reported sequential improvements in occupancy at its European locations. It reported solid improvements in urban locations such as San Diego and Boston, with occupancy rates of approximately 85% and 95%, respectively. The company remains optimistic about a growing willingness among customers to resume travel. Meanwhile, owner and preview reservations for the first half of 2022 were up 10% from 2019 levels.
A Brief Review of the Other Stocks
Playa Hotels & Resorts’ focus on direct booking channels enabled the company to ramp up occupancy faster than many third-party reliant competitors. Going forward, the company is optimistic regarding ramped-up airlift activities particularly for Europeans and Canadians. This, along with pent-up demand and improved execution of offerings are likely to add to the positives.
Hilton Grand Vacations has been benefiting from robust Legacy-HGV contract sales and the acquisition of Dakota Holdings. In third-quarter 2021, legacy-HGV contract sales of $290 million were 81% of third 2019 contract sales.
Choice Hotels has been gaining from continual expansion strategies through acquisitions and franchise agreements. Also, focus on the loyalty program bodes well. It remains committed to expansion strategies, enhancement of the mid-scale brand, and transformation and advancement of the Comfort brands to drive growth in the upcoming periods.
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Marriott Vacations (VAC) Reports Contract Sales for Q4
Marriott Vacations Worldwide Corporation (VAC - Free Report) posted fourth-quarter 2021 contract sales. During the fourth quarter, volume per guest remained well above pre-pandemic levels.
During fourth-quarter 2021, the company reported contract sales of $406 million. Stephen P. Weisz, CEO of the company, said “We ended the year strong, with contract sales above the high-end of our previous guidance range. While we have seen a modest impact in January related to Omicron, forward looking trends remain strong, illustrating the resiliency of our leisure-focused business model.”
Hoteliers are adopting aggressive technological ways to sustain competition and address the changing nature of consumer demand. Marriott Vacations has been committed to digital expansion and innovation of the latest techniques. The company has been pursuing opportunities in other social media and digital advertising platforms. Management is optimistic about integrating data analytics into its marketing strategy. It continues to utilize technology to reduce back-office costs and improve associates' experience by leveraging artificial intelligence to augment and automate several high-volume internal transactional processes.
Occupancy Improving Gradually
During fourth-quarter 2021, Marriott Vacations, which shares space with Playa Hotels & Resorts N.V. (PLYA - Free Report) , Hilton Grand Vacations Inc. (HGV - Free Report) and Choice Hotels International, Inc. (CHH - Free Report) , continues to witness robust occupancies at most of its resorts. During the third quarter of 2021, the company reported sequential improvements in occupancy at its European locations. It reported solid improvements in urban locations such as San Diego and Boston, with occupancy rates of approximately 85% and 95%, respectively. The company remains optimistic about a growing willingness among customers to resume travel. Meanwhile, owner and preview reservations for the first half of 2022 were up 10% from 2019 levels.
A Brief Review of the Other Stocks
Playa Hotels & Resorts’ focus on direct booking channels enabled the company to ramp up occupancy faster than many third-party reliant competitors. Going forward, the company is optimistic regarding ramped-up airlift activities particularly for Europeans and Canadians. This, along with pent-up demand and improved execution of offerings are likely to add to the positives.
Hilton Grand Vacations has been benefiting from robust Legacy-HGV contract sales and the acquisition of Dakota Holdings. In third-quarter 2021, legacy-HGV contract sales of $290 million were 81% of third 2019 contract sales.
Choice Hotels has been gaining from continual expansion strategies through acquisitions and franchise agreements. Also, focus on the loyalty program bodes well. It remains committed to expansion strategies, enhancement of the mid-scale brand, and transformation and advancement of the Comfort brands to drive growth in the upcoming periods.