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Marriott Vacation Club Celebrates 30 Years of Memories
ORLANDO, Fla. – April 17, 2014 – Marriott Vacation Club (MVC), the vacation ownership brand of Marriott Vacations Worldwide Corporation, (NYSE:VAC), proudly celebrates 30 years of preserving one of the oldest family traditions—the family vacation.
"Frankly, it's changed our lives," says Peter Pfiel, an Owner at Marriott's Monarch at Sea Pines on Hilton Head Island, S.C., since 1984. Pfiel and his family made the trip from Cincinnati to Marriott's very first vacation ownership resort every summer. Thirty years later, Pfiel and his wife are retired just three miles from their Monarch villa, where they keep two weeks so their grown children can visit. "The joy of being able to turn over the keys to my son and his family … that's the fulfillment of a different dream than we had when we bought," Pfiel admits.
Today the Pfiels are among over 415,500 Owner families at more than 52 distinct Marriott Vacation Club resorts throughout the U.S., Caribbean, Europe and Asia. Like the Pfiels, many would never have guessed that they would play a vital role in helping make MVC a worldwide leader in the vacation ownership industry.
"This year marks an exceptional milestone and one I am very proud of - the 30th anniversary of our Marriott Vacation Club brand," said Stephen P. Weisz, president and CEO of Marriott Vacations Worldwide Corporation. "We're in the business of fun, and it's been amazing to watch MVC revolutionize an entire industry. On the personal side, it's exciting to think of all of the families who are creating a lifetime of vacation memories through Marriott Vacation Club," continued Weisz.
A History of Innovation
In 1984, Marriott became the first branded hospitality company by nearly a decade to enter the timeshare industry with the acquisition of American Resorts and its 184-villa project which became Marriott's Monarch at Sea Pines. With just 7,000 Owners at the end of its first year, the division lost no time making its mark on the fledgling timeshare industry.
Marriott Vacation Club boasts an unprecedented number of industry-firsts that have changed the face of vacation ownership by bringing increased credibility and setting an example for other branded hospitality companies to follow. With the launch of its premiere resort, Marriott Vacation Club replaced industry-standard fixed weeks and units with seasonally-based, floating time and property use.
In 1996, Marriott Vacation Club laid down its first European footprint with the opening of Marriott's Marbella Beach Resort on Spain's Costa del Sol. A decade later, a new Asia Pacific Regional Office and sales gallery in Singapore opened to serve an emerging market already enamored with Marriott's Phuket Beach Club in Thailand.
The Quality Component
Marriott Vacation Club marks its first 30 years with an impressive 91 percent customer satisfaction rating. With more than 50 percent of the company's business coming from Owners purchasing additional time and referring friends, the common denominator for many is Marriott Vacation Club's signature quality and service.
A typical Marriott Vacation Club two-bedroom, two-bath villa includes a fully-equipped gourmet kitchen with granite countertops and stainless steel appliances; generous living and dining areas; multiple flat-panel televisions; oversized shower with multiple shower heads in master suite; washer/dryer; balcony; and wireless high-speed internet access.
"Over the next 30 years we'll evolve and experiment with our product form as it continues to set industry benchmarks for innovation," Weisz continued. "We'll seek to give our owners more flexibility and will continue our legacy of creating unforgettable vacation experiences."
About Marriott Vacation Club
Marriott Vacation Club is a global leader in vacation ownership with over 415,500 Owners, a diverse portfolio of 54 resorts and more than 11,900 timeshare villas throughout the U.S., Caribbean, Europe and Asia. Marriott Vacation Club is a brand of Marriott Vacations Worldwide Corporation, the leading global pure-play vacation ownership company. For more information please visit www.marriottvacationclub.com or nightly rentals visit www.marriott.com. Follow us on Twitter at www.twitter.com/MarriottVacClub and find us on Facebook at www.facebook.com/marriottvacationclub.
Visit Marriott Vacations Worldwide Corporation (NYSE: VAC) for company information.
Ed Kinney / Brittany Kohl
Marriott Vacation Club
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