Marriott Vacations Worldwide raised its full-year adjusted free cash flow outlook to $410-$460 million from $375-$425 million previously, as stronger sales execution and cost discipline drove a recovery in growth and profitability. In the second quarter of 2026, contract sales increased 22% year over year to $545 million, while VPG rose 23% to $4,477, and owner contract sales climbed 41% on a 33% rise in owner VPG. Adjusted EBITDA rose to $215 million from $203 million a year earlier, development profit increased $14 million to $106 million, and marketing and sales expense as a percentage of contract sales improved 150 basis points year over year and 700 basis points sequentially. Adjusted free cash flow totaled $87 million in the second quarter and $201 million in the first half of 2026, compared with $22 million in the prior-year period, and the company ended the quarter with about $928 million in liquidity, including $211 million of cash and $650 million of available capacity under its revolving corporate credit facility. Net corporate leverage declined to 4.0 times from 4.2 times at the end of the first quarter, and management is targeting $200 million of noncore asset-sale proceeds by the end of 2027, while expecting inventory spending in Asia-Pacific to decline by $35 million this year.
Marriot Vacations WorldwideRaised full-year adjusted free cash flow outlook to $410-$460M and posted higher Q2 adjusted EBITDA ($215M) and development profit on stronger sales execution and cost discipline.
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