Marriott Vacations Worldwide Corporation (NYSE:VAC) Q4 2023 Earnings Conference Call February 22, 2024 8:30 AM ET
Company Participants
Neal Goldner - Vice President-Investor Relations
John Geller - President & Chief Executive Officer
Jason Marino - Executive Vice President & Chief Financial Officer
Conference Call Participants
Brandt Montour - Barclays
Chris Woronka - Deutsche Bank
Patrick Scholes - Truist Securities
Ryan Lambert – JPMorgan
Shaun Kelley - Bank of America
David Katz - Jefferies
Operator
Greetings and welcome to the Marriott Vacations Worldwide Fourth 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]
I would now like to turn the conference over to your host, Mr. Neal Goldner, vice President, Investor Relations from Marriott Vacations Worldwide. Thank you. You may begin.
Neal Goldner
Thank you, and welcome to the Marriott Vacations Worldwide fourth quarter 2023 earnings call. I'm joined today by John Geller, President and Chief Executive Officer and Jason Marino, our Executive Vice President and Chief Financial Officer. I need to remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under 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 reference to non-GAAP financial information. You can find a reconciliation of non-GAAP financial measures and is schedules attached to our press release, as well as to the investor Relations page of our website.
Before I turn the call over to John, as you saw in our earnings release last night with four vacation ownership resorts in West Maui, the wildfires had a negative impact on our results in the third and fourth quarter, despite having no physical damage to our properties. We added a table to our earnings release last night to illustrate the impact the wildfires on our business.
In addition, during last year's third quarter with the launch of Abound by Marriott Vacations, we aligned the contract terms of vacation ownership sales across our Marriott, Westin and Sheraton brands. We also aligned and combined our accounting methodologies for the reserve on vacation ownership notes receivable for these brands.