| Company type | Public |
|---|---|
| Industry | Hospitality,Tourism |
| Founded | Hilton Head,South Carolina, U.S. |
| Headquarters | , U.S. |
Key people | Matthew Avril (CEO) |
| Revenue |  US$ 3.89 billion (2022)[1] |
| US$ 49 million (2022)[1] | |
| Total assets | US$ 9.6 billion (2022)[1] |
| Total equity | US$ 2.98 billion (2022)[1] |
Number of employees | 20,300[1] |
| Divisions | |
| Website | Marriott Vacations Worldwide |
Marriott Vacations Worldwide Corporation is apure-play publictimeshare company.[2] Formerly a division ofMarriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011.[3] Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 owners and members.[4] Its brands includeMarriott Vacation Club,[5] Marriott Vacation Club Pulse, Grand Residences by Marriott,[6] and The Ritz-Carlton Destination Club.[7] The company also operates Interval International, which offers an exchange network and travel membership programs through a network of more than 3,200 affiliated resorts in over 90 countries and territories.[4]
Marriott Ownership Resorts Inc. (MORI) was established on April 17, 1984 with the acquisition of American Resorts onHilton Head Island,South Carolina. Marriott’s Monarch became the first MORI resort.[8] In 1995, MORI becameMarriott Vacation Club International. The move reflected the company’s evolution from real estate development and sales focus to "delivering an overall vacation experience".[9] In 1997, the company expanded toEurope with its first resort inMarbella, Spain. In 2001, the firstAsian resort inPhuket, Thailand was added to the company's collection. Similar to its successful segmentation of the lodging industry pioneered in the 1980s,Marriott Vacation Club International introduced The Ritz-Carlton Destination Club in 1999 – a luxury fractional ownership offering.[7] Two years later, the Grand Residences by Marriott brand was created.[citation needed] The first property opened in 2002 inSouth Lake Tahoe, California.[9] In 2007,Marriott Vacation Club International began to market its core timeshare brand asMarriott Vacation Club.[5] In 2010, the company launched its points-based Marriott Vacation Club Destinations Program in North America and the Caribbean. This change was the most significant program innovation in the company’s history and provided a new product offering increased flexibility.[10]
In April 2018, Marriott Vacations Worldwide announced that they would purchaseILG, Inc. for $4.7 billion.[11] Miami, Florida-based ILG was the parent entity to Interval International which was founded in 1976.[12] Interval International operates global membership programs for more than 1.6-million-member families. It also provides value-added services and benefits to its developer clients worldwide. Interval is currently an operating business of Marriott Vacations Worldwide Corporation.[13]
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