Marriott Vacations Worldwide Corporation

Greetings and welcome to the Marriott Vacations Worldwide 4th Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Neal Goldner, Vice President, Investor Relations. Thank you, sir. You may begin.

Thank you, Maria, and welcome to the Marriott Vacations Worldwide Fourth Quarter Earnings Conference Call. I am joined today by Matt Averill, our Chief Executive Officer, Mike Plasky, our President and Chief Operating 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, which could cause future results with different material from those expressed in or implied by our comments. Forward-looking statements in the press release as well as comments in 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 on non-GAAP financial measures in the schedules attached to our press release and on our website. With that, it's my pleasure to turn the call over to Matt.

Thank you, Neil, and good morning, everyone. To begin, I want to briefly acknowledge the recent events in Mexico. I'm pleased to report we've had no safety or property instances related to our associates or guests. From a business perspective, our operations in Mexico include four resorts, and last year they generated approximately 3% of our worldwide contract sales. So our exposure is relatively small, and we certainly are looking forward to improving dynamics in Mexico. Having made the decision to join Marriott Vacations worldwide in a permanent capacity, I'm truly excited to be part of the management team as we move the organization forward. We appreciate all of you joining us on the call this morning, and I also want to thank Jason and Neil and their teams for all the hard work as we prepared for this particular call. Further, it is my pleasure to welcome Mike Plasky to the company as our new President and Chief Operating Officer. I've known Mike for many years. He brings a wealth of broad industry experience, energy, and a passion for execution of our commercial operations. particularly in our sales and marketing disciplines. I'm looking forward to working closely with him as we transform our operational effectiveness and begin to realize the full potential of our brands and our company overall. I'd like to invite Mike to make a few introductory comments. Thanks, Matt.