Stifel Nicolaus reaffirms its bullish outlook on Marriott Vacations Worldwide (VAC), citing resilient demand and strong operational performance. The firm highlights VAC's strategic positioning in the premium vacation ownership market, supported by consistent revenue growth and expanding global footprint.
- Stifel Nicolaus maintains a bullish rating on VAC as of December 9, 2025
- VAC reported a 12% YoY increase in vacation ownership sales volume in Q3 2025
- Adjusted EBITDA reached $178 million in Q3 2025, up 15% YoY
- Occupancy rates at VAC’s resorts averaged 78% in Q3 2025
- Company executed a $250 million share repurchase program
- Recurring revenue from existing owners grew 20% year-over-year
Stifel Nicolaus has reiterated its positive investment view on Marriott Vacations Worldwide (VAC), underscoring confidence in the company’s ability to sustain growth in the post-pandemic travel environment. The firm notes that VAC’s diversified portfolio of vacation ownership resorts and rental properties continues to benefit from elevated consumer interest in leisure travel, particularly in high-margin destinations across North America and Europe. Key metrics highlight VAC’s momentum: the company reported a 12% year-over-year increase in vacation ownership sales volume during Q3 2025, driven by strong demand for premium resort experiences. Additionally, VAC’s adjusted EBITDA rose to $178 million in the same quarter, representing a 15% improvement from the prior-year period. These figures reflect sustained pricing power and improved occupancy rates, which reached 78% across the company’s owned and managed resort portfolio. The firm’s outlook is also underpinned by VAC’s active capital allocation strategy, including the repurchase of $250 million in common shares and a strategic expansion into new international markets, particularly in Asia-Pacific. Stifel emphasizes that VAC’s integration of technology and customer experience enhancements has contributed to a 20% increase in recurring revenue from existing owners, signaling long-term customer retention strength. Investors in the hospitality and travel sector may view this endorsement as a signal of broader sector resilience, particularly for businesses tied to discretionary spending and premium leisure services. The reaffirmed bullish stance could influence sentiment around similar leisure-focused equities, especially as holiday travel demand continues to outpace pre-pandemic levels.