Marriott Vacations Worldwide Corporation (NYSE:VAC) Q2 2023 Earnings Call Transcript August 3, 2023 8:30 AM ET
Company Participants
Neal Goldner - Vice President-Investor Relations
John Geller - President & Chief Executive Officer
Anthony Terry - Executive Vice President & Chief Financial Officer
Conference Call Participants
Chris Woronka - Deutsche Bank
Brandt Montour - Barclays
David Katz - Jefferies
Patrick Scholes - Truist Securities
Operator
Greetings, and welcome to the Marriott Vacations Worldwide Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Mr. Neal Goldner, Vice President, Investor Relations for Marriott Vacations Worldwide. Please go ahead.
Neal Goldner
Thank you, Melissa, and welcome to the Marriott Vacations Worldwide Second Quarter 2023 Earnings Conference Call. I am joined today by John Geller, President and Chief Executive Officer; Tony Terry, our Executive Vice President and Chief Financial Officer; and Jason Marino, who will be assuming the role of CFO effective September 30 when Tony retires.
I need to remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under the federal securities laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Forward-looking statements in the press release that we issued last night, as well as our comments on this call are effective only when made and will not be updated as actual events unfold.
Throughout the call, we will make references to non-GAAP financial information. You can find a reconciliation of non-GAAP financial measures referred to in our remarks in the schedules attached to our press release as well as the Investor Relations page of our website at ir.mvwc.com.
With that, it's now my pleasure to turn the call over to John Geller.
John Geller
Thanks, Neal, and good morning, everyone, and thank you for joining our second quarter earnings call. While we were pleased to run nearly a 90% occupancy in the quarter with the high VPGs we had last year in a mixed macroeconomic environment, this year we knew coming into the quarter that comparisons were going to be tough. As a result, we expected VPGs to be lower on a year-over-year basis, though we expected this to be offset by higher tours.