Brief: Marriott Vacations Worldwide Provides Update On Impact Of Maui Wildfires

Marriott Vacations Worldwide

31/08/2023 17:41

Aug 31 (Reuters) - Marriott Vacations Worldwide Corp
 VAC.N :
    * MARRIOTT VACATIONS WORLDWIDE PROVIDES UPDATE ON IMPACT OF
MAUI
WILDFIRES
    * MARRIOTT VACATIONS WORLDWIDE CORP: EXPECTS CONTRACT SALES
IN Q3
TO BE ADVERSELY IMPACTED BY APPROXIMATELY $25 TO $30 MILLION.
    * MARRIOTT VACATIONS WORLDWIDE CORP - PHYSICAL DAMAGE TO
COMPANY'S
RESORTS AND SALES CENTERS IS MINIMAL
    * MARRIOTT VACATIONS WORLDWIDE CORP: EXPECTS MAUI WILDFIRES
TO
NEGATIVELY IMPACT ITS Q3 NET INCOME ATTRIBUTABLE TO COMMON
SHAREHOLDERS BY $16 TO $19 MILLION
    * MARRIOTT VACATIONS WORLDWIDE CORP: EXPECTS MAUI WILDFIRES
TO
NEGATIVELY IMPACT ITS ADJUSTED EBITDA BY $22 TO $27 MILLION.
    * MARRIOTT VACATIONS WORLDWIDE CORP - INTENDS TO PURSUE
RELIEF
AVAILABLE THROUGH INSURANCE OPTIONS, IT IS TOO EARLY TO ESTIMATE
ANY RECOVERY
    * MARRIOTT VACATIONS WORLDWIDE CORP: EXPECTS MAUI WILDFIRES
TO
NEGATIVELY IMPACT ITS ADJUSTED EBITDA BY $22 TO $27 MILLION
    * MARRIOTT VACATIONS WORLDWIDE CORP: TOO EARLY TO ESTIMATE
ANY
RECOVERY
    * MARRIOTT VACATIONS WORLDWIDE CORP - HAS CANCELLED ALL
OWNER AND
EXCHANGE RESERVATIONS THROUGH AT LEAST SEPTEMBER 10, 2023 IN
MAUI
    * MARRIOTT VACATIONS WORLDWIDE- IMPACT OF MAUI WILDFIRES ON
Q4
OPERATING RESULTS TO DEPEND ON TIMING OF RE-OPENING OF RESORTS,
PACE THAT TRAVEL RETURNS TO ISLAND OF MAUI


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