Marriott Vacations Worldwide Corp. provided Wednesday a preliminary look at fourth-quarter results, saying volume per guest (VPG) increased 9% from a year ago while tours declined 59% amid the COVID-19 pandemic. Contract sales for vacation ownership rose to $178 million, a 25% increase from the sequential third quarter; the average estimate, of the two analysts who provided estimates to FactSet, was $177 million ($173 million and $181 million). The vacation company said interval international exchange transactions for the quarter rose about 17% from a year ago, and the average revenue per member was down 4%. The company said it ended 2020 with about $1.3 billion in liquidity. The stock, which was still inactive in premarket trading, has run up 42.2% over the past three months while the S&P 500 has gained 10.3%.
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