March 24, 2020 / 12:33 PM / 9 days ago

BRIEF-Marriott Vacations Worldwide Corporation Provides Business Update

March 24 (Reuters) - Marriott Vacations Worldwide Corp :

* MARRIOTT VACATIONS WORLDWIDE CORPORATION PROVIDES BUSINESS UPDATE

* MARRIOTT VACATIONS WORLDWIDE - DECIDED TO CLOSE ALL NORTH AMERICA SALES CENTERS FOR TWO WEEKS EFFECTIVE MARCH 23

* MARRIOTT VACATIONS - FROM MARCH 25, CLOSING RESORTS FOR RENTAL GUESTS WITH STAYS AT BRANDED NORTH AMERICA VACATION OWNERSHIP RESORTS FOR NEXT 30 DAYS

* MARRIOTT VACATIONS WORLDWIDE CORP - ALL NEW HIRES, WITH EXCEPTION OF MISSION-CRITICAL NEEDS, HAVE BEEN FROZEN

* MARRIOTT VACATIONS WORLDWIDE CORP - IMPLEMENTING FURLOUGHS AND REDUCED WORK HOURS

* MARRIOTT VACATIONS WORLDWIDE CORP - DEFERRING EMPLOYEE 401(K) MATCH

* MARRIOTT VACATIONS WORLDWIDE - DEVELOPED PLANS THAT COULD REDUCE INVESTMENT ON CAPITAL EXPENDITURES & INVENTORY BY UP TO $240 MILLION IF NECESSARY

* MARRIOTT VACATIONS WORLDWIDE CORP - SUSPENDED SHARE REPURCHASES UNDER ITS SHARE REPURCHASE PLAN

* MARRIOTT VACATIONS - HAD GROSS VACATION OWNERSHIP NOTES RECEIVABLE OF ABOUT $140 MILLION, EXPECTS IT TO BE ELIGIBLE FOR SECURITIZATION UNDER WAREHOUSE FACILITY

* MARRIOTT VACATIONS WORLDWIDE - WILL WORK WITH BOARD OF DIRECTORS TO MAKE DECISIONS ON FUTURE DIVIDEND PAYMENTS

* MARRIOTT VACATIONS WORLDWIDE - COMPANY HAS NO CORPORATE DEBT MATURITIES UNTIL SEPTEMBER 2022

* MARRIOTT VACATIONS - REDUCING OPERATIONS & AMENITIES AT ALL RESORTS BASED ON VARIOUS GOVERNMENTAL MANDATES & ADVISORIES DUE TO COVID-19 PANDEMIC Source text for Eikon: Further company coverage:

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