Marriott Vacations Worldwide to offer $575 million in senior notes

ORLANDO - Marriott Vacations Worldwide Corporation (NYSE:VAC), a $2.69 billion market cap vacation ownership company, announced Thursday that its wholly owned subsidiary, Marriott Ownership Resorts, Inc., plans to offer $575 million in senior notes due 2033, subject to market conditions.

The company intends to use the proceeds, along with cash on hand, to pay $575 million aggregate principal amount of its 2026 Convertible Notes that mature on January 15, 2026. Prior to that maturity date, the company plans to use the net proceeds to repay borrowings under its $800 million revolving credit facility and/or invest in cash equivalent securities. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 4.04, indicating robust ability to meet short-term obligations.

The notes will only be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States under Regulation S. The notes have not been registered under the Securities Act or securities laws of other jurisdictions.

Marriott Vacations Worldwide operates approximately 120 vacation ownership resorts with around 700,000 owner families. The company also manages an exchange network of more than 3,200 affiliated resorts across over 90 countries and territories.

The offering comes as the company manages its debt obligations ahead of the 2026 maturity date. This refinancing move extends the company’s debt maturity profile by seven years through the new 2033 notes.

This information is based on a press release statement from Marriott Vacations Worldwide Corporation.

In other recent news, Marriott Vacations Worldwide reported its second-quarter earnings for 2025, exceeding analyst expectations. The company achieved an earnings per share (EPS) of $1.96, surpassing the projected $1.81, resulting in an EPS surprise of 8.29%. Additionally, Marriott Vacations Worldwide recorded actual revenue of $1.25 billion, which was higher than the anticipated $1.22 billion, representing a revenue surprise of 2.46%. These results highlight the company’s strong financial performance during the quarter. Furthermore, the Board of Directors announced a quarterly cash dividend of $0.79 per share, payable on or around October 1, 2025, to stockholders of record as of September 17, 2025. These developments reflect the company’s ongoing commitment to delivering value to its shareholders.

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