Marriott Vacations Worldwide announced that Matthew E. Avril, a board member since March 2025, will serve as interim President and Chief Executive Officer effective immediately, following the resignation of former CEO John Geller at the board’s request. The move is intended to preserve continuity while the company searches for a permanent leader.
The company’s most recent quarterly report, released on November 6, 2025, showed revenue of $1.26 billion—about 3.8 % below the $1.31 billion consensus estimate—reflecting a 4 % year‑over‑year decline in contract sales driven by a 1 % drop in tours and a 5 % fall in volume per guest. Despite the revenue miss, adjusted diluted earnings per share rose to $1.69, beating the $1.64 consensus by $0.05. The earnings beat was largely attributable to disciplined cost management and a stable operating margin, which helped offset the revenue shortfall.
Segment analysis revealed that the Exchange & Third‑Party Management unit posted a 6 % revenue decline, largely due to lower transaction volumes at Interval International. Other core segments—such as the Vacation Ownership and Exchange Services—continued to generate steady demand, but the weaker third‑party activity weighed on overall top‑line growth.
Management reaffirmed its full‑year 2025 guidance, maintaining an adjusted EBITDA target of $740 million to $755 million and a revenue outlook of $1.85 billion to $1.925 billion. The unchanged guidance signals confidence that the company can recover from the Q3 dip, especially as the modernization program—expected to deliver $150 million to $200 million in adjusted EBITDA benefits by the end of 2026—continues to progress.
Investors have reacted negatively to the revenue miss, with market sentiment reflecting concerns about the company’s ability to sustain growth. The leadership change is viewed as a corrective step to address the performance shortfall and restore confidence.
Avril, who previously led Diamond Resorts International, emphasized the urgency of execution. “I recognize that this is a critical time for the Company. We must execute in order to deliver results, and I am committed to working closely with the Board and management team to create immediate shareholder value,” he said. His appointment follows a board assessment that he can bring a sense of urgency to the business and help restore shareholder value.
The company also postponed its Investor Day scheduled for December 17 and will continue its share‑repurchase program, which has $347 million remaining under the current plan. These actions underscore the board’s focus on stabilizing leadership and maintaining capital discipline while the company navigates the current challenges.
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