Marriott Vacations Worldwide Corporation
Encyclopedia
Marriott Vacations Worldwide Corporation is the world’s leading pure-play public timeshare
company. Formerly a division of Marriott International
, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership experiences in November 2011. Marriott Vacations Worldwide offers a diverse portfolio of quality products, programs and management expertise with more than 60 resorts and over 400,000 Owners and Members. Its brands include: Marriott Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club.
, South Carolina
. Marriott’s Monarch became the first MORI resort. In 1995, MORI became Marriott Vacation Club International
. The move reflected the company’s evolution from real estate development and sales focus to delivering an overall vacation experience. In 1997, the company expanded to Europe
with its first resort in Marbella, Spain. In 2001, the first Asian
resort in Phuket, Thailand was added to the company's collection. Similar to its successful segmentation of the lodging industry pioneered in the 1980s, Marriott Vacation Club International
introduced The Ritz-Carlton Destination Club in 1999 - a luxury fractional ownership offering. Two years later, the Grand Residences by Marriott brand was created. The first property opened in 2002 in South Lake Tahoe, California
. In 2007, Marriott Vacation Club International
began to market its core timeshare brand as Marriott Vacation Club. In 2010, the company launched its points-based Marriott Vacation Club Destinations Program in North America and the Caribbean. This change was the most significant program innovation in the company’s history and provided a new product offering increased flexibility..
Timeshare
A timeshare is a form of ownership or right to the use of a property, or the term used to describe such properties. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time in which they may use...
company. Formerly a division of Marriott International
Marriott International
Marriott International, Inc. is a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by son J.W. Marriott, Jr...
, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership experiences in November 2011. Marriott Vacations Worldwide offers a diverse portfolio of quality products, programs and management expertise with more than 60 resorts and over 400,000 Owners and Members. Its brands include: Marriott Vacation Club, Grand Residences by Marriott and The Ritz-Carlton Destination Club.
History
Marriott Ownership Resorts Inc. (MORI) was established on April 17, 1984 with the acquisition of American Resorts on Hilton Head IslandHilton Head Island, South Carolina
Hilton Head Island or Hilton Head is a resort town in Beaufort County, South Carolina, United States. It is north of Savannah, Georgia, and south of Charleston. The island gets its name from Captain William Hilton...
, South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
. Marriott’s Monarch became the first MORI resort. In 1995, MORI became Marriott Vacation Club International
Marriott Vacation Club International
Marriott Vacation Club is the premier timeshare brand of Marriott Vacations Worldwide Corporation, the world’s leading pure-play public timeshare company. The brand boasts more than 50 Marriott Vacation Club properties throughout the United States, Caribbean, Europe and Asia and more than 400,000...
. The move reflected the company’s evolution from real estate development and sales focus to delivering an overall vacation experience. In 1997, the company expanded to Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
with its first resort in Marbella, Spain. In 2001, the first Asian
Asian
Asian refers to an inhabitant of Asia, or someone of Asian descent.In the Americas, the term refers almost exclusively to those from the Asia pacific region, such as China, Japan, South Korea or Vietnam....
resort in Phuket, Thailand was added to the company's collection. Similar to its successful segmentation of the lodging industry pioneered in the 1980s, Marriott Vacation Club International
Marriott Vacation Club International
Marriott Vacation Club is the premier timeshare brand of Marriott Vacations Worldwide Corporation, the world’s leading pure-play public timeshare company. The brand boasts more than 50 Marriott Vacation Club properties throughout the United States, Caribbean, Europe and Asia and more than 400,000...
introduced The Ritz-Carlton Destination Club in 1999 - a luxury fractional ownership offering. Two years later, the Grand Residences by Marriott brand was created. The first property opened in 2002 in South Lake Tahoe, California
South Lake Tahoe, California
South Lake Tahoe is the most populous city in El Dorado County, California, in the Sierra Nevada Mountains. The population was 21,403 at the 2010 census, down from 23,609 at the 2000 census...
. In 2007, Marriott Vacation Club International
Marriott Vacation Club International
Marriott Vacation Club is the premier timeshare brand of Marriott Vacations Worldwide Corporation, the world’s leading pure-play public timeshare company. The brand boasts more than 50 Marriott Vacation Club properties throughout the United States, Caribbean, Europe and Asia and more than 400,000...
began to market its core timeshare brand as Marriott Vacation Club. In 2010, the company launched its points-based Marriott Vacation Club Destinations Program in North America and the Caribbean. This change was the most significant program innovation in the company’s history and provided a new product offering increased flexibility..
Similar Programs
- Disney Vacation ClubDisney Vacation ClubDisney Vacation Club is a vacation timeshare division owned and operated by The Walt Disney Company. It allows buying real estate interest in a DVC resort. Disney Vacation Club's President is Claire Bilby....
- Hilton Grand Vacations CompanyHilton Grand Vacations CompanyHilton Grand Vacations Company, LLC, a subsidiary of Hilton Worldwide, is based in Orlando, Florida. In addition, there are regional offices in Marco Island, Florida and Sanibel Island, Florida....
- Bluegreen CorporationBluegreen CorporationBluegreen Corporation is a public real-estate and timeshare resort developer headquartered in Boca Raton, FL. They are a leader in providing "Colorful Places to Live and Play" and currently have more than 3,500 associates in over 50 resorts nationwide...