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Marriott Vacations Worldwide (VAC) reported 2024 revenue of $4.97 billion, up 5%, driven by Vacation Ownership growth amid travel recovery. Net income fell 14% to $218 million due to higher expenses and reserves for delinquencies. Adjusted EBITDA dipped 4% to $727 million, with liquidity at $1.1 billion supporting deleveraging from 4.0x to 2.5-3.0x target. Risks include disasters, regulations, and competition, while strategies emphasize digital marketing and loyalty integrations for owner expansion.

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