Marriott Vacations Worldwide Reports Fourth Quarter and Full Year 2014 Financial Results and 2015 Outlook
ORLANDO, Fla, - Marriott Vacations Worldwide Corporation (NYSE: VAC) today reported fourth quarter and full year 2014 financial results and provided its outlook for 2015. Due to the company’s reporting calendar, fourth quarter and full year 2013 financial results included the impact of an additional week compared to 2014.
Fourth quarter 2014 highlights:
— Adjusted EBITDA totaled $49 million, an increase of $11 million, or 28 percent, year-over-year.
— Company contract sales were $215 million and North America contract sales were $189 million.
— Company adjusted development margin was 21.4 percent and North America adjusted development margin was 23.5 percent
— North America volume per guest (VPG) increased 5 percent year-over-year to $3,255.