MARRIOTT VACATIONS WORLDWIDE Business Summary

Marriott Vacations Worldwide Corp (VAC) operates as a leading global vacation company, primarily generating revenue through the sale of vacation ownership interests (timeshares and points-based programs), interest income from purchase money financing provided to buyers, and recurring fees from resort management and exchange services. The company is organized into two primary reportable segments: Vacation Ownership, which includes a diverse portfolio of nearly 120 resorts under premium brands like Marriott Vacation Club, Westin Vacation Club, and Sheraton Vacation Club; and Exchange & Third-Party Management, which operates the Interval International exchange network and provides management services to over 3,200 affiliated resorts globally. In the competitive landscape, VAC maintains a dominant market position by leveraging its exclusive, long-term licensing agreement with Marriott International, distinguishing itself from direct rivals such as Hilton Grand Vacations (HGV), Travel + Leisure Co. (TNL), and Disney Vacation Club through its high-end brand equity and extensive global distribution network. Originally spun off from Marriott International as an independent entity in 2011, the company is currently led by Interim President and CEO Matthew E. Avril, a hospitality veteran with over 30 years of experience who previously served as CEO of Diamond Resorts and President of the Hotel Group at Starwood Hotels & Resorts. Supporting the interim leadership is Executive Vice President and CFO Jason Marino, who brings a background in real estate investment banking from Credit Suisse and was instrumental in the company’s strategic acquisitions of ILG and Welk Resorts. Other key executives include Raman Bukkapatnam as Chief Information Officer and Lori Gustafson as Chief Membership and Commercial Services Officer. The company’s governance is overseen by Chairman of the Board Bill Shaw, with significant institutional backing from major investors such as The Vanguard Group, which maintains a substantial 10% stake in the corporation as of early 2026.