Marriott Vacations Worldwide - Company of the Year
Company: Marriott Vacations Worldwide, Orlando, FL
Company Description: Marriott Vacations Worldwide Corporation is a leading global pure-play vacation ownership company, offering a diverse portfolio of quality products, programs and management expertise with 64 resorts and more than 400,000 Owners and Members and approximately 10,000 associates. Its brands include Marriott Vacation Club, The Ritz-Carlton Destination Club and Grand Residences by Marriott.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Hospitality & Leisure – Large
Nomination Title: Marriott Vacations Worldwide - Global Leadership
Tell the story about what this nominated organization has achieved since January 1, 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Marriott Vacations Worldwide (NYSE: VAC) is a global leader in vacation ownership sales, resort management and services, financing, and rentals.
Our deeply held mission, “to deliver unforgettable experiences that make vacation dreams come true,” drives our dedication, strategies and innovation.
To fulfill our mission, we support four strategic pillars, including our dedication to our 10,000 associates; unrivalled customer satisfaction; innovation and world class processes; and, superior financial performance.
To support our associates, we offer competitive health and welfare benefits, tuition reimbursement, an Employee Stock Purchase Plan, 401(k), leave sharing, and more.
Our associates seek opportunities to learn and grow so we provide them access to thousands of learning resources, from self-paced online modules to multi-day instructor-led sessions.
We celebrate our associates through the company’s annual Associate Appreciation Week, awards programs and frequent recognition.
Our associates are deeply committed to our many philanthropic activities and environmental stewardship, as the accompanying Corporate Social Responsibility Report describes.
To assess engagement, we retain Aon Hewitt to administer the company’s annual Engagement Survey.
In 2016, 97% of our associates participated in the survey. Aon Hewitt determined 85% of our associates are engaged, fully seven percentage points higher than the Hewitt Global Best Employer Benchmark. Among the many findings, 91% of our associates agree they would “recommend this company to others seeking a job.”
MVW was named an Aon Best Employer in nine countries, described in the accompanying materials.
In 2016, MVW received the coveted American Resort Development Association Circle of Excellence Employer Award, was named a Best Employer by Florida Trend, and was recognized as one of Orlando Sentinel's "Top 100 Companies", ranking fourth in the Large Division and the highest ranked company in the vacation ownership industry.
Over time, we have refined our customer satisfaction survey processes, using customer feedback and data analytics to continually identify opportunities to improve the customer experience.
In 2016, our customer satisfaction was 91% among more than 226,000 survey respondents who rated their satisfaction 8, 9 or 10, on a 10-point scale. Survey respondents included sales tour guests, onsite Owners and guests, and Owners who interacted with our global Owner Services organization.
Among many drivers of customer satisfaction is our points-based product form, Marriott Vacation Club Destinations™, providing our Owners’ access to thousands of vacation experiences, from stays in our resorts and Marriott hotels, to cruises, tours, adventure travel, access to private vacation homes and estates, and more.
Our onsite Owners and guests count on us to provide them exceptional services and experiences, from healthy dining offerings and in-villa technology, to extensive activities programming, including fitness classes, yoga, meditation, hikes, art classes, and so much more.
Among our most significant accomplishments during 2016 was the introduction of our innovative brand extension, Marriott Vacation Club Pulse SM, which captures the insights our customers shared with us during a comprehensive assessment of their vacation preferences today.
Marriott Vacation Club Pulse features unique properties that embrace the energy and culture of vibrant urban destinations, delivering easy access to local attractions, dining, shopping, and transportation.
With the launch of Marriott Vacation Club Pulse, we showcased our properties in Boston, New York City, Washington, D.C., San Diego, and South Beach.
During 2016, we opened six new sales centers in key growth markets, including our first sales center in Australia at Marriott Vacation Club at Surfers Paradise, and sales centers in New York City, San Diego, South Beach, Washington, D.C., and on the Big Island of Hawaii at Marriott’s Waikoloa Ocean Club.
We firmly believe our commitment to our associates, customers and innovation drives exceptional financial performance.
Adjusted net income in 2016 was $134.3 million, a year-over-year increase of 13.0%, and adjusted EBITDA was $261.4 million. During the summer of 2016, the company completed a note securitization that generated gross cash proceeds of $250 million, contributing to our continued growth and strategic investments.
Thank you for your consideration of MVW for this prestigious award.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).
-85% of associates are engaged, exceeding Aon Hewitt 2016 Global Best Employer Benchmark by seven percentage points;
-Was named an Aon Best Employer in nine countries;
-Received additional prestigious recognition for the company’s proven commitment to its associates;
-Achieved customer satisfaction of 91%, based on more than 226,000 survey responses;
-Provides Owners access to thousands of vacation experiences, including resort and Marriott hotel stays, cruises, escorted tours, adventure travel, and more.
-Launched Marriott Vacation Club Pulse, an innovative brand extension, that serves customers in vibrant urban destinations with distinctive services and accommodations that reflect the destinations’ style and energy.
-Opened six new sales centers in strategic markets, including Australia, New York City, Washington, D.C., San Diego, South Beach, and the Big Island of Hawaii.
-Again, delivered impressive financial results.
-Continues its commitment to serve others through its 30+-year partnership with Children’s Miracle Network Hospitals and relationships with other respected organizations.
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?