The company, spun off from Marriott International in late 2011, has been opening new sales centers this year. The company has said it expects that, although each of the new sales centers may take two to three years to reach their full sales potential, each location could generate more than $125 million in sales once they are up to speed.
In the latest period, the company's total contract sales increased 6.3%, excluding residential sales, thanks to 8.3% growth in its North America and Asia-Pacific segments.
Chief Executive Stephen P. Weisz said in prepared remarks that Marriott Vacations' contract sales growth reflects the continued ramp-up of sales at new sales centers in North America and Asia Pacific, along with growth at its established locations.
Over all, Marriott Vacations reported a profit of $26.8 million, or 97 cents a share, up from $21.6 million, or 67 cents a share, a year earlier. Excluding lower acquisition-related costs and other items, adjusted per-share earnings rose to 96 cents from 82 cents. Revenue eased by $145,000 to $407 million.
Analysts polled by Thomson Reuters expected per-share profit of $1.14 and revenue of $447 million.