Marriott Vacations (VAC) to Commence Trading on NYSE
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Marriott Vacations Worldwide Corporation (NYSE: VAC), begins regular way trading today following its spin-off from Marriott International, Inc. (NYSE: MAR) with a one-for-10 distribution of Marriott Vacations Worldwide shares to Marriott International shareholders on November 21, 2011. Recognized as the industry leader, Marriott Vacations Worldwide has a global base of approximately 400,000 Owners and Members across three widely known and respected vacation ownership brands including Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott.
In 2010, Marriott Vacations Worldwide generated approximately $1.6 billion in revenue (including approximately $300 million in cost reimbursements) through vacation ownership sales, resort management, financing and rentals. The company's key attributes are diversified revenue streams, solid cash flow generation and strong liquidity position, making Marriott Vacations Worldwide an attractive value to its Owners, Members, customers and investors. As of November 21, 2011, Marriott Vacations Worldwide would have nearly 33.7 million basic shares outstanding.
In 2010, Marriott Vacations Worldwide generated approximately $1.6 billion in revenue (including approximately $300 million in cost reimbursements) through vacation ownership sales, resort management, financing and rentals. The company's key attributes are diversified revenue streams, solid cash flow generation and strong liquidity position, making Marriott Vacations Worldwide an attractive value to its Owners, Members, customers and investors. As of November 21, 2011, Marriott Vacations Worldwide would have nearly 33.7 million basic shares outstanding.
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