North America

Marriott Vacations Announces Increased Quarterly Dividend

Alan Woinski and Kim Woinski

Skift Take

  • Marriott Vacations Worldwide Corporation announced an increase in its quarterly dividend.
  • MCR has acquired the Staybridge Suites Chattanooga Downtown, a five-story, extended-stay hotel in Chattanooga, Tennessee.
  • The DJIA rose 35 points Friday while Nasdaq was down 21, the S&P 500 was down 5 points and the 10-year treasury yield was down .02 to 3.51%.

The DJIA rose 35 points Friday while Nasdaq was down 21, the S&P 500 was down 5 points and the 10-year treasury yield was down .02 to 3.51%. Lodging stocks were mixed. MCG was up 10%.

Marriott Vacations Worldwide Corporation announced an increase in its quarterly dividend. Their board declared a cash dividend for the quarter of $0.72 per share of common stock, up 16% over their prior dividend.

MCR has acquired the Staybridge Suites Chattanooga Downtown, a five-story, extended-stay hotel in Chattanooga, Tennessee, marking the company‘s fifth hotel in the state. The 124-suite property offers a grab-and-go market, a heated indoor pool, a fitness center, on-site guest laundry facilities, a business center and a boardroom. MCR also has the opportunity to create additional value by converting 13,000 square feet of underutilized ground-floor space into additional guest rooms, retail or meeting space.