VAC · CIK 0001524358
What Marriott Vacations Worldwide Corporation told the SEC could break it.
1 self-disclosed vulnerability, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
A limited set so far, we surface every cited disclosure we’ve extracted for VAC. More may follow as additional filings are processed.
In its own words
What could break it.
Liquidity & debt
- Consumer-finance / securitization dependence — a large captive timeshare-lending business funded through ABS markets; sales depend on financing availability and consumer creditmedium
Marriott Vacations operates a captive consumer-finance business central to its model: Financing revenue was $360 million in 2025, and a large share of vacation-ownership-interest (VOI) sales are buyer-financed and funded through the asset-backed securitization markets. On default, it generally forecloses on or revokes the owner's VOI and resells it — so credit quality (weighted-average FICO ~740) and the cost/availability of securitization funding directly affect both financing income and new sales. A spike in interest rates, a rise in consumer defaults, or a freeze in the ABS market (as in 2008–09) would impair its ability to finance sales and pressure liquidity. A material consumer-credit and securitization-market dependence.
“In the event of a default, we generally have the right to foreclose on or revoke the defaulting owner's VOI.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
“We own a 67% interest in a joint venture with an affiliate of HV Global Group, a subsidiary of Marriott Vacations Worldwide Corporation, that owns a 131-unit vacation ownership development in Maui, Hawaii adjacent to our Hyatt Regency Maui Resort & Spa.”
Cited →
In the MyPRIA app, this is checked against the companies you actually own.
← World Watch