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Travel Leisure Co. (TNL) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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Our liquidity, as it relates to our VOCR securitization program, could be adversely affected if we were to fail to renew or replace our conduit facilities on their expiration dates, or if a particular receivables pool were to fail to meet certain ratios, which could occur in certain instances if the default rates or other credit metrics of the underlying VOCRs deteriorate.

Our long-term plan is to grow our dividend at the rate of growth of our earnings at a minimum.

The decreases in net revenues excluding the impact of foreign currency was primarily driven by a 3% decrease in transactions and a 2% decrease in revenue per transaction, as COVID-19 shifted bookings from the first quarter into the second quarter of 2021.

We believe that Adjusted EBITDA is a useful measure of performance for our segments which, when considered with GAAP measures, we believe gives a more complete understanding of our operating performance.

The net revenue decrease was unfavorably impacted by foreign currency of $1 million (0.5%) and the Adjusted EBITDA decrease was favorably impacted by foreign currency of $2 million (2.8%).

COMMITMENTS AND CONTINGENCIES From time... Read more

The net positive impact of... Read more

FINANCIAL CONDITION Total assets decreased... Read more

Excluding the foreign currency impact... Read more

Vacation Ownership Net revenues increased... Read more

These Condensed Consolidated Financial Statements... Read more

Interest expense decreased $6 million... Read more

Ultimately, our business objective is... Read more

Other expense, net of other... Read more

If the bonding capacity is... Read more

We acquired the Travel +... Read more

If there is a significant... Read more

In addition to the revenue... Read more

The net revenue increase was... Read more

The declaration and payment of... Read more

This increase was unfavorably impacted... Read more

Forward-looking statements are subject to... Read more

Management uses net revenues and... Read more

Adjusted EBITDA also excludes stock-based... Read more

We intend to continue to... Read more

Travel and Membership Net revenues... Read more

If the VOCR pool that... Read more

Expenses increased $91 million for... Read more

Expenses increased $241 million for... Read more

(h)Represents paid members in our... Read more

The interest rate on revolver... Read more

Total deficit increased $52 million... Read more

These restructuring charges included $3... Read more

Revenues from sales of VOIs... Read more

This increase was favorably impacted... Read more

As of June 30, 2022,... Read more

Our secured debt is rated... Read more

CRITICAL ACCOUNTING ESTIMATES In presenting... Read more

In addition to the amounts... Read more

Our effective tax rates were... Read more

We expect that additional expenditures... Read more

However, events that are outside... Read more

Net revenues increased $125 million... Read more

Net revenues increased $306 million... Read more

As we expand into new... Read more

As a result of our... Read more

Repurchases may be conducted in... Read more

Share Repurchase Program On August... Read more

Excluding the impacts of foreign... Read more

Financial Statements, Disclosures and Schedules Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more Travel Leisure Co. provided additional information to their SEC Filing as exhibits
Ticker: TNL CIK: 1361658 Form Type: 10-Q Quarterly Report Accession Number: 0001361658-22-000200 Submitted to the SEC: Thu Jul 28 2022 9:32:30 AM EST Accepted by the SEC: Thu Jul 28 2022 Period: Thursday, June 30, 2022 Industry: Hotels And Motels

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Travel + Leisure Co. Reports First Quarter 2024 Results

Travel + Leisure Co. (NYSE:TNL), the world’s leading membership and leisure travel company, today reported first quarter 2024 financial results for the three months ended March 31, 2024. Highlights and outlook include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424345984/en/

  • Net income of $66 million, $0.92 diluted earnings per share, on net revenue of $916 million
  • Adjusted EBITDA of $191 million and adjusted diluted earnings per share of $0.97 (1)
  • Expects second quarter adjusted EBITDA of $235 million to $245 million
  • Reaffirms expectations for full year adjusted EBITDA of $910 million to $930 million
  • Management will recommend a second quarter dividend of $0.50 per share for approval by the Board of Directors

“We are off to a solid start for the year with a 15 percent increase in tours, 28 percent growth in new owner tours and volume per guest above $3,000,” said Michael D. Brown, president and chief executive officer of Travel + Leisure Co.

“We have an excellent team in place who are executing well against plans to grow the business. With owner room nights for the remainder of the year up 7 percent, we are looking forward to a strong summer travel season and are increasingly confident in meeting our 2024 commitments.”

Business Segment Results

Vacation Ownership

Vacation Ownership revenue increased 6% to $725 million in the first quarter of 2024 compared to the same period in the prior year. Net vacation ownership interest (VOI) sales were $369 million in the first quarter compared to $338 million in the prior year period, and Gross VOI sales were $490 million compared to $454 million in the prior year. Gross VOI sales were driven by 155,000 tours during the quarter compared to 135,000 in the same period last year, partially offset by a 6% decrease in VPG due to a higher mix of new owner tours.

First quarter adjusted EBITDA was $135 million compared to $131 million in the prior year period, with the revenue growth partially offset by an increase in marketing costs to support increased tour flow and new owner mix, an increase in sales and commission expenses due to higher gross VOI sales, and higher interest rates on our ABS debt.

Travel and Membership

Travel and Membership revenue decreased 4% to $193 million in the first quarter of 2024 compared to the same period in the prior year. This was driven by a 6% decrease in transactions offset by a 1% increase in revenue per transaction. Transactions were impacted by an increasing mix of exchange members with a club affiliation, who have a lower transaction propensity.

First quarter Adjusted EBITDA was $75 million compared to $71 million in the prior year, with the revenue decrease more than offset by lower operating costs primarily driven by the restructure of the segment in the fourth quarter of 2023.

Balance Sheet and Liquidity

Net Debt — As of March 31, 2024, the Company's leverage ratio for covenant purposes was 3.5x. The Company had $3.9 billion of corporate debt outstanding as of March 31, 2024, which excluded $2.1 billion of non-recourse debt related to its securitized notes receivables portfolio. Additionally, the Company had cash and cash equivalents of $479 million. At the end of the first quarter, the Company had $1.2 billion of liquidity in cash and cash equivalents and revolving credit facility availability. Subsequent to the end of the quarter, the Company repaid its $300 million secured notes due April 2024 using proceeds from 2023 borrowings, cash on hand, and a partial draw down of its revolving credit facility.

Timeshare Receivables Financing — On March 21, 2024, the Company closed on a $350 million term securitization transaction with a weighted average coupon of 5.7% and a 95.3% advance rate.

Cash Flow — For the three months ended March 31, 2024, net cash provided by operating activities was $47 million compared to $7 million in the prior year period. Adjusted free cash flow was $22 million for the three months ended March 31, 2024 compared to an outflow of $8 million in the same period of 2023 due to a decrease in cash utilized for working capital items, mainly due to timing of payments.

Share Repurchases — During the first quarter of 2024, the Company repurchased 0.6 million shares of common stock for $25 million at a weighted average price of $40.07 per share. As of March 31, 2024, the Company had $146 million remaining in its share repurchase authorization.

Dividend — The Company paid $38 million ($0.50 per share) in cash dividends on March 29, 2024 to shareholders of record as of March 21, 2024. Management will recommend a second quarter dividend of $0.50 per share for approval by the Company’s Board of Directors in May 2024.

The Company is reaffirming guidance regarding expectations for the 2024 full year:

  • Adjusted EBITDA of $910 million to $930 million
  • Gross VOI sales of $2.25 billion to $2.35 billion
  • VPG of $2,900 to $3,000

The Company is providing guidance regarding expectations for the second quarter 2024:

  • Adjusted EBITDA of $235 million to $245 million
  • Gross VOI sales of $580 million to $610 million
  • Travel and Membership Adjusted EBITDA of $60 million to $65 million

This guidance is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of these adjustments that may arise in the future. Where one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results.

Conference Call Information

Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:00 a.m. ET. Participants may listen to a simultaneous webcast of the conference call, which may be accessed through the Company's website at travelandleisureco.com/investors , or by dialing 877-733-4794 ten minutes before the scheduled start time. For those unable to listen to the live broadcast, an archive of the webcast will be available on the Company's website for 90 days beginning at 12:00 p.m. ET today.

Presentation of Financial Information

Financial information discussed in this press release includes non-GAAP measures such as Adjusted EBITDA, Adjusted diluted EPS, Adjusted free cash flow, gross VOI sales and Adjusted net income, which include or exclude certain items, as well as non-GAAP guidance. The Company utilizes non-GAAP measures, defined in Table 5, on a regular basis to assess performance of its reportable segments and allocate resources. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors when considered with GAAP measures as an additional tool for further understanding and assessing the Company’s ongoing operating performance by adjusting for items which in our view do not necessarily reflect ongoing performance. Management also internally uses these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures for the reported periods appear in the financial tables section of the press release.

The Company may use its website as a means of disclosing information concerning its operations, results and prospects, including information which may constitute material nonpublic information, and for complying with its disclosure obligations under SEC Regulation FD. Disclosure of such information will be included on the Company’s website in the Investor Relations section at travelandleisureco.com/investors. Accordingly, investors should monitor that Investor Relations section of the Company website, in addition to accessing its press releases, its submissions and filings with the SEC, and its publicly noticed conference calls and webcasts.

About Travel + Leisure Co.

As the world’s leading membership and leisure travel company, Travel + Leisure Co. (NYSE:TNL) transformed the way families vacation with the introduction of the most dynamic points-based vacation ownership program at Club Wyndham , and the first vacation exchange network, RCI . The company delivers more than six million vacations each year at more than 270 timeshare resorts worldwide, through tailored travel and membership products, and via Travel + Leisure GO - the signature subscription travel club inspired by the pages of Travel + Leisure magazine. With hospitality and responsible tourism at the heart of all we do, our 19,000+ dedicated associates bring out the best in people and places around the globe. We put the world on vacation. Learn more at travelandleisureco.com .

Forward-Looking Statements

This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are any statements other than statements of historical fact, including statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the future. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “expects,” “should,” “believes,” “plans,” “anticipates,” “estimates,” “predicts,” “potential,” “continue,” “future,” "outlook," "guidance," "commitments," or other words of similar meaning. Forward-looking statements are subject to risks and uncertainties that could cause actual results of Travel + Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”) to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, risks associated with: the acquisition of the Travel + Leisure brand and the future prospects and plans for Travel + Leisure Co., including our ability to execute our strategies to grow our cornerstone timeshare and exchange businesses and expand into the broader leisure travel industry through our travel clubs; our ability to compete in the highly competitive timeshare and leisure travel industries; uncertainties related to acquisitions, dispositions and other strategic transactions; the health of the travel industry and declines or disruptions caused by adverse economic conditions (including inflation, higher interest rates, and recessionary pressures), terrorism or acts of gun violence, political strife, war (including hostilities in Ukraine and the Middle East), pandemics, and severe weather events and other natural disasters; adverse changes in consumer travel and vacation patterns, consumer preferences and demand for our products; increased or unanticipated operating costs and other inherent business risks; our ability to comply with financial and restrictive covenants under our indebtedness; our ability to access capital and insurance markets on reasonable terms, at a reasonable cost or at all; maintaining the integrity of internal or customer data and protecting our systems from cyber-attacks; the timing and amount of future dividends and share repurchases, if any; and those other factors disclosed as risks under “Risk Factors” in documents we have filed with the SEC, including in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 21, 2024. We caution readers that any such statements are based on currently available operational, financial and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management’s opinion only as of the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.

Travel + Leisure Co. Table of Contents

Table Number

  • Condensed Consolidated Statements of Income (Unaudited)
  • Summary Data Sheet
  • Non-GAAP Measure: Reconciliation of Net Income to Adjusted Net Income to Adjusted EBITDA
  • Non-GAAP Measure: Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow
  • Definitions

travel and leisure quarterly report

Investors: Jill Greer Investor Relations (407) 626-4050 [email protected]

Media: Steven Goldsmith Public Relations (407) 626-5882 [email protected]

View source version on businesswire.com: https://www.businesswire.com/news/home/20240424345984/en/

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Travel + Leisure Co. (TNL) Beats Q3 Earnings and Revenue Estimates

October 25, 2023 — 07:15 am EDT

Written by Zacks Equity Research for Zacks  ->

Travel + Leisure Co. (TNL) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 5.48%. A quarter ago, it was expected that this company would post earnings of $1.34 per share when it actually produced earnings of $1.33, delivering a surprise of -0.75%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Travel + Leisure Co. , which belongs to the Zacks Leisure and Recreation Services industry, posted revenues of $986 million for the quarter ended September 2023, surpassing the Zacks Consensus Estimate by 1.33%. This compares to year-ago revenues of $937 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Travel + Leisure Co. Shares have lost about 8.3% since the beginning of the year versus the S&P 500's gain of 10.6%.

What's Next for Travel + Leisure Co.

While Travel + Leisure Co. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release , the estimate revisions trend for Travel + Leisure Co. Unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.53 on $947.62 million in revenues for the coming quarter and $5.17 on $3.75 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Services is currently in the bottom 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, OneSpaWorld (OSW), has yet to report results for the quarter ended September 2023.

This company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of +30.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

OneSpaWorld's revenues are expected to be $209.48 million, up 29.1% from the year-ago quarter.

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Travel & Leisure readers pick their No. 1 resort in the U.S. It’s in California

For the first time ever, this hotel made it onto the travel magazine's top resorts, besting many acclaimed properties..

travel and leisure quarterly report

The 161-room, seven-story hotel, which boasts a Michelin-starred restaurant on the premises, was also named the top resort in California. It outranked many long acclaimed properties, including Rancho Valencia in Rancho Santa Fe, which frequently garners recognition in national rankings. It came in at No. 11 in this year’s reader survey of best resorts in the U.S ., although it was fourth in 2021.

“I think everyone was completely surprised,” Tim Obert, area managing director of Mission Pacific Beach Resort, said of Tuesday’s announcement. He also manages the hotel’s sister property, The Seabird Ocean Resort & Spa, which was ranked 14th.

“It’s our guests who voted for us, and they’re well traveled and experienced. They know what great is, so it’s flattering that they were kind enough to take the time to vote for us. We had hoped we would score well, but I don’t think any of us expected that we would be No. 1.”

View of Oceanside pier from Mission Pacific Beach Resort. (Mission Pacific Beach Resort)

Travel and Leisure’s article announcing the top resorts is headlined, “The Resort Voted Best in the Continental U.S. Overlooks an Underrated California Beach and Has a Michelin-star Mexican Restaurant.”

It describes the resort on N. Myers Street, as “a place you never really need to leave to have a good time. It’s home to both a Michelin-starred restaurant (Valle, which serves tasty Mexican bites) and a rooftop bar serving craft cocktails that are ideal at sunset.”

Included within the resort is the

The resort, it points out, is also home to the original “Top Gun” house, a 19th century Victorian cottage that appeared in the original Top Gun film released in 1986.

Mission Pacific Beach also made it onto Travel and Leisure’s Top 100 Hotels in the World for 2024, ranking No. 11. The only other California hotel to rank higher was the Pendry Newport Beach.

To compile the list of top resorts, Travel and Leisure asks its readers each year to weigh in on their travel experiences, not only for hotels and resorts, but also for cities, cruise ships, airlines and other hospitality segments. More than 186,000 readers completed the 2024 survey, the magazine said, and more than 700,000 votes were cast across all categories.

Hotels were specifically rated on such criteria as rooms and facilities, location, service, food and value.

The two sister resorts in Oceanside had something of a tortured history as the city sought to bring a destination resort to the oceanfront site since the 1970s. It began courting developers in the 1980s for the two-block site bisected by the western end of Mission Avenue, with boundaries at Pacific and Myers streets, Pier View Way and Seagaze Drive.

Back in 2005, the city of Oceanside chose S.D. Malkin Properties from a field of three finalists. It was Oceanside’s fourth try in 25 years to land a luxury hotel for the site. The project would eventually break ground in 2019.

“When it opened in May of 2021, it opened during COVID, a difficult time to launch any hotel,” Obert said. “So it started slowly and now has gained its footing and competes very well in the market. We run around 67, 70 percent occupancy for the year, but this year we’ll be closer to the low 70s. Like all resorts during the summer through Labor Day, we run well north of 80 percent occupancy.

“Our owners continue to reinvest in the property on a regular basis. They have a luxury retail background and they continue to reinvent the product to be current and relevant.”

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travel and leisure quarterly report

Travel + Leisure Names Best Cruise Lines for 2024

quasar expeditions grace yacht

Quasar Expeditions got the highest ratings of any cruise line. Photo: Quasar

Along with the best hotels, airlines, cities, and rental companies, Travel + Leisure readers also voted for the favorite cruise lines. Readers rated ships – in several categories – based on cabins, food, service, itineraries, excursions, value, and more.

The results were mostly unsurprising, but there were some new entries this year, including Explora Journeys, Riverside Luxury Cruises, HX, and the newly relaunched Crystal. Additionally, in some categories niche cruise lines, such as Quasar Expeditions and Oberoi Cruises, took top five spots despite not being well-known among many cruisers.

Here are the best cruise lines and ships, as voted by Travel & Leisure readers.

Top 10 Intimate Ocean Cruise Lines (<150 cabins)

1. Quasar Expeditions (97.81) 2. Overseas Adventure Travel (97.55) 3. Aqua Expeditions (94.81) 4. Lindblad Expeditions (94.40) 5. Seabourn (94.35) 6. Celebrity Cruises – Galapagos (93.94) 7. The Ritz-Carlton Yacht Collection (92.86) 8. Variety Cruises (92.35) 9. Ponant (91.73) 10. Silversea (91.33)

viking octantis in antarctica

Top 5 Small-Ship Ocean Cruise Lines (150 to 299 cabins)

1. Viking (96.69) 2. HX (96.08) 3. Windstar Cruises (92.99) 4. Paul Gauguin Cruises (91.26) 5. Silversea (88.49)

Explora Journeys Explora I cruise ship

Top 10 Mid-Size Ocean Cruise Lines (300 to 799 cabins)

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  • All-Inclusive Resorts

11 Best All-inclusive Resorts for Foodies

Looking for an all-inclusive vacation that delivers incredible eats? Here are 11 all-inclusive resorts around the world that have the best food.

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Courtesy of Ikos, Andalucia

All-inclusive resorts have done quite the rebrand. Not more than a decade ago, most all-inclusive resorts carried reputations of lengthy buffet lines, cheesy theme nights, and watered-down drinks. We’ve come a long way, baby.

The culinary programs at all-inclusive resorts have been completely reimagined, swapping sub-par menus for gourmet culinary experiences. This year alone, several all-inclusive resorts in Mexico are boasting Michelin-starred restaurants — a standout for me being Cocina de Autor at Grand Velas’ properties in Los Cabos and Riviera Maya. Others worldwide have their menus curated by Michelin-starred chefs, while others wow with spectacular settings and innovative epicurean experiences.

Today’s all-inclusive resorts woo with multi-course tasting menus, wine-pairings, and unique culinary experiences, from curated picnics to Dine Around programs, so guests can taste the local restaurants at no additional cost. Foodies who once shied away from booking all-inclusive resorts may suddenly be hungering for these now-world-renowned gourmet experiences.

To help narrow the search, we’ve rounded up 11 of the best all-inclusive resorts for foodies worldwide.

Grand Velas Los Cabos

Courtesy of Grand Velas

Also available to book at Expedia.com

Spacious suites with great amenities include plunge pools, fire pits, and ocean views.

Grand Velas Boutique Los Cabos is adults-only, but most restaurants are at the family-friendly Grand Velas Los Cabos.

"Best" all-inclusive resort is always subjective. But when we're talking about the best all-inclusive resorts for foodies, particularly in Los Cabos, I will firmly stand behind Grand Velas Los Cabos and Grand Velas Boutique Los Cabos . The sister resorts sit beside each other, with the latter reserved for adults only. Both resorts, however, have prioritized the culinary program as one of its structural pillars. It's no surprise that one of its signature restaurants, Cocina de Autor, was recently awarded a Michelin star. The multi-course tasting menu, helmed by Sidney Schutte, takes diners on a culinary journey, with a dimly lit, sumptuous dining room to set the scene. Unlike other all-inclusive resorts, where premium dining experiences may come at an extra charge, this Michelin-starred masterpiece is included in the room rate. But the epicurean goodies don't stop there. Velas 10 is equally a standout for its signature steaks and decadent side dishes. Meanwhile, Loto Robata Grill is exclusive to Grand Velas Boutique guests and is under Schutte’s creative direction.

The Details:

  • Location: Tourist Corridor, Los Cabos
  • What's included: Wi-Fi, parking, daily stocked premium mini-bar
  • Number of dining locations: 7 at Grand Velas Los Cabos; 3 at Grand Velas Boutique Los Cabos
  • Closest airport: SJD
  • Starting rates: $1,346 per night

Grand Velas Riviera Nayarit

The resort overlooks one of the most beautiful beaches in the Bay of Banderas.

Public spaces feel crowded when the resort is fully booked.

There isn't much Grand Velas Riviera Nayarit can't do. As one of the few actual five-star luxury all-inclusive resorts in the Puerto Vallarta area, this 267-suite property has been a Travel + Leisure reader favorite for years. It is one of the best family-friendly all-inclusive resorts, with a dedicated baby concierge and a tiny tots spa menu, and an impeccable culinary program for discerning adults. The three tables to book here are at the four specialty restaurants: Lucca for Italian, Frida for Mexican, Sen Lin for Asian fusion, and Piaf for French. Note that Piaf is reserved for adults only, which makes it the most romantic and high-end dining experience at the resort.

  • Location: Nuevo Nayarit
  • What's included: Kids' and Teen's clubs, 24-hour room service, wi-fi, parking
  • Number of dining locations: 9
  • Closest airport: PVR
  • Starting rates: $1,015 per night

Grand Velas Riviera Maya

This sprawling family-friendly hotel has 1,000 feet of white sand beach.

While the resort offers much to kids and teens, there are fewer evening entertainment options for adults.

Grand Velas Riviera Maya is undoubtedly a Grande Dame of the Mexican Caribbean. The all-suite hotel, a 2021 World's Best Awards winner, is known for its spectacular beachfront, onsite mangroves and cenobites, and some of the largest suites in the region. Butler service, holistic healing rituals, and private plunge pools help to sustain this resort's reputation as one of the best in the country. Its now-Michelin-rated dining is another reason to add this all-inclusive resort to the bucket list.

"My top recommendation for all-inclusive hotels for foodie clients, whether families or couples, is the Grand Velas resorts. They truly set the gold standard for all-inclusive resorts in Mexico," said Hannah Breckner, a Fora advanced travel advisor focusing on luxury Mexico travel. "Recently, the Michelin Guide for Mexico awarded Michelin Stars to both Cocina de Autor restaurants at Grand Velas Los Cabos and Grand Velas Riviera Maya — a huge testament to the hotel group's commitment to exceptional dining experiences, making them the only all-inclusive hotel group in the world with two Michelin-starred restaurants."

  • Location: Playa del Carmen
  • What's included: Wi-fi, Fitness classes, pool and beach concierge, kids' and teens' club
  • Number of dining locations: 8
  • Closest airport: CUN
  • Starting rates: $1,281 per night

Palmaia - The House of AiA

Courtesy of Palmaia

Also available to book at Tripadvisor.com

A gorgeous aesthetic of jungle-meets-beach is the perfect backdrop for a program centered around wellness and food.

This is a family-friendly resort, which can be a plus for some but not for others.

Eco-chic to the core, Palmaia — The House of Aia in Playa del Carmen is a true sanctuary of serenity, fringed on either end by thick jungle and the turquoise waves of the Caribbean Sea. Verdant gardens webbed with meandering pathways set the scene for a bohemian, beachy experience, where the commitment to wellness and sustainability is a cut above, even in its impressive culinary program. The unique food concept at Palmaia revolves around a Nourishing Biome concept, where everything you eat is designed for optimal health. Chef Charly Garcia has created a profoundly nourishing (and visually stunning) menu where 90 percent of dishes are prepared with natural ingredients. The resort promises zero refined sugars, no refined seed oils, and a commitment to include fermented food options. While the plant-based food options genuinely shine here, carnivores won't be left out, as menus also include a healthy dose of meat and fish — locally sourced.

"Palmaïa - The House of AïA near Playa del Carmen is also on my radar for foodies," added Breckner. "This all-inclusive wellness retreat offers plant-based and vegan menus at all of its restaurants, catering to health-conscious travelers."

  • What's included: Rituals of Sound Series, Solo Beach Club & Premium Bar, Fitness center, Wi-Fi, parking
  • Number of dining locations: 5
  • Starting rates: $1,421 per night

Hotel Xcaret Mexico

Courtesy of Hotel Xcaret

Stunning rooms, a cenote-inspired spa, and one of the best culinary programs in Mexico.

It is one of the largest rooms in the area with 900 rooms.

To be honest, I typically shy away from resorts with hundreds of rooms. But I will make the exception exclusively for Hotel Xcaret Mexico (and the adults-only sister resort, Hotel Xcaret Arte). While both resorts have 900 rooms, the property is so special, with many things to see and do, that I never feel overwhelmed. A winner of the World's Best Awards in 2021 and 2023, Hotel Xcaret Mexico added another feather to its cap in 2024 with a Michelin star in its HA' Restaurant. The first restaurant in Grupo Xcaret to be awarded a Michelin star, HA' serves a nine-course tasting menu, each paired with wines and spirits. But the resort's other restaurants equally tantalize the tastebuds with exquisite attention to detail. Cantina Los Faroles is evocative of the plazas of Oaxaca, serving a menu that highlights Oaxacan gastronomy. You'll also find Italian cuisine, Mexican, a steakhouse, and a vegan restaurant.

  • What's included: Airport transfers, Wi-Fi, unlimited access to Grupo Xcaret theme parks
  • Number of dining locations: 12
  • Starting rates: $719 per night

Jade Mountain

Joe McNally

This resort boasts 24 infinity pools with views of the Pitons.

Because the suites are open-air, they do not have air conditioning.

Few places are as worth the splurge as the architectural wonder Jade Mountain in St. Lucia. I added the five-star resort to my bucket list back when I started as a travel writer, and when I had the opportunity to visit, I felt like I had earned my stripes in the business. Every facet of the resort is meant to leave your jaw on the floor, from the open-air suites called Sanctuaries, with snapshot-perfect views of the Pitons, to the iridescent private plunge pools in every room, the rugged volcanic jungle landscape and the warm energy from its staff. In between these mouth-agape moments, you’re dining at the exceptional Jade Mountain Club. Underneath an inky blanket of stars with the hunky silhouettes of the Pitons melting into the velvety black, this signature dining experience is helmed by James Beard Award-winning chef Allen Susser. Guests of Jade Mountain have access to the sister resort restaurants at Anse Chastanet just down the hill. The toes-in-the-sand experience at Anse Mamin Jungle Grill is a must, particularly noteworthy for its lengthy list of delectable burgers.

  • Location: Soufriere, St. Lucia
  • What's included: Wi-Fi, private in-room infinity pool, daily guided walks and hikes
  • Number of dining locations: 1
  • Closest airport: UVF
  • Starting rates: $2,420 per night

Spice Island Beach Resort

Courtesy of Spice Island Beach Resort

Located right on Grand Anse beach, we love the chic suites, many of which have private pools.

It’s a popular beach location, so the shoreline sometimes feels crowded.

With a reputation as one of the finest Caribbean hotels, Spice Island Beach Resort boasts a dreamy color palette of white sand beach, turquoise, and tropical green. The decidedly five-star resort exudes a laid-back vibe, overlooking one of the most beautiful beaches in the Caribbean. Entry-level rooms start at 1,440 square feet, while just one category up introduces private plunge pools. Additional amenities include a decadent spa and a yoga program. The award-winning restaurants include Oliver Restaurant for Creole-Caribbean fare and Sea and Surf Terrace & Bar for an oceanfront grill experience. Don't miss the weekly Sunday barbecue lunch buffet, bringing chefs from around the island to serve their favorite dishes.

  • Location: Grenada
  • What's included: In-room mini bar, non-motorized water sports, fitness center, Nutmeg Pod Activity Center for Kids
  • Number of dining locations: 2
  • Closest airport: GND
  • Starting rates: $1,150 per night

Saffire Freycinet

Courtesy of Saffire Freycinet

Also available to book at Kayak.com

A farm-to-fork culinary program encourages guests to learn about where their food comes from, including an oyster farm experience.

It is a long journey for U.S. travelers to get there.

One of Australia's most luxurious nature escapes, Saffire Freycinet can seamlessly blend the highest level of modern creature comforts and design with sustainability and conservation. Guests are greeted at the resort with wraparound views of Wineglass Bay and the Hazards Mountains, while the resort's signature Tasmanian Devils program aims to protect the endemic species from extinction. The all-inclusive 20-suite lodge has an enviable location within Tasmania's Freycinet National Park — a futuristic design that stands out against the raw, undisturbed natural environment. In addition to its conservation efforts, the resort prides itself on harnessing its natural environment to produce stunning cuisine, from cool-climate boutique wines to a daily parade of shellfish, grass-fed beef and lamb, and locally grown herbs, spices, and produce.

  • Location: Tasmania, Australia
  • What's included: Daily replenished minibar, $100-$200 property credit, complimentary experiences and activities
  • Closest airport: HBA
  • Starting rates: $1,870 per night

Courtesy of Twin Farms

A 300-acre retreat sets the scene for year-round outdoor adventures.

It is a splurge, but guests report it’s worth every penny.

Rustic New England country charm meets a sleek design and modern amenities at this 300-acre Vermont retreat. Twin Farms is an intimate, 28-room hotel thoroughly designed around a "choose your own adventure" ethos — with cuisine at its core. Whether that's private dinners in the room, intimate picnics in the forest, skiing the private mountain, or indulging in the on-site Bridge House Spa, Twin Farms is one of the most exclusive and idyllic all-inclusive hotels — and it's right here in the U.S. The culinary and wine program is central to the Twin Farms experience. The room rate includes all meals and wine pairings, whether that's dining indoors or out on a picnic adventure. The picnics at Twin Farms are part of its signature mark, whether it's canapés in the forest or gourmet sandwiches at the top of a mountain peak.

  • Location: Barnard, Vermont
  • What's included: Art tour, Wi-Fi, fitness center, customized picnics
  • Closest airport: BTV
  • Starting rates: $2,950

Ikos Andalusia

A creative dine-out program allows guests to dine at select Costa del Sol restaurants for free.

Standard rooms are much smaller compared to Family Suites or Deluxe rooms.

Along the sun-splashed Costa del Sol, Ikos Andalusia is a luxe all-inclusive resort that seems to hit every note. Bookended between Estepona and Marbella, the resort is a visual stunner, offering a little bit of everything for couples, families, and groups of friends. The resort splays out across 15 acres of delicious golden sand. A selection of tiered pools spills down towards the shoreline. Rooms are minimalist and chic, with a white-and-cream color palette that lets the colors from the sea do the talking. The spotlight shines on its restaurants, whose menus were curated by Michelin-starred chefs. Menu items are paired with a dizzying selection of 300 premium wines. Moreover, the all-inclusive resort has a Dine Out program for guests to sample several restaurants in Marbella at no additional cost.

  • Location: Málaga, Spain
  • What's included: Wi-Fi, evening entertainment, fully stocked mini-bars
  • Closest airport: AGP
  • Starting rates: $553 per night

Casa de Campo

Courtesy of Casa de Campo

Six dreamy pools offer different atmospheres, including an adults-only pool and an oceanfront pool.

Some rooms are a lengthy golf cart ride away from the beach.

Casa de Campo has been an iconic fixture along the spectacular southern coast of the Dominican Republic since the 1970s. It was the first luxury resort to open in the Dominican Republic, with original interior designs from Oscar de la Renta, and has only upped the ante since then. Today, the five-star palatial paradise sits on over 7,000 acres, featuring 247 guest rooms and 50 private homes. Guests can opt into the all-inclusive package to save themselves the sticker shock of the restaurant menu prices, which are considerably higher than other places on the island. But the all-inclusive package will be worth the splurge for unlimited access to the fine dining restaurants on the property. Only two of the 10 are eliminated from the all-inclusive rate.

  • Location: La Romana, Dominican Republic
  • What's included: Unlimited horseback riding and non-motorized sports, family activities, Wi-Fi
  • Number of dining locations: 8 for the all-inclusive package
  • Closest airport: PUJ
  • Starting rates: $636 per night

Know Before You Go

  • Vibe Check: All-inclusive resorts may have the all-inclusive part in common, but each resort has its own distinct vibe. Be sure you’re clear on what kind of all-inclusive resort you’re booking, as some are geared towards families, others to couples, and others to groups looking for lots of activities and parties.
  • Know What’s Included: All-inclusive refers to food, beverage, and specific activities. But it does not include everything. Spa treatments, airport transfers, and even some premium menu items may be an extra charge. Always check beforehand so you know exactly what you’re paying for.
  • Get Off Property: Just because you’re in an all-inclusive resort does not mean you’re bound to the resort for your entire vacation. If the mood strikes, venture off the property to explore the destination.

How We Chose These Hotels

Selecting the best all-inclusive resorts for foodies involves a deep dive into the best all-inclusive resorts worldwide. Several of the hotels on this list made the cut because they've earned a spot in our annual World's Best awards, in which hundreds of thousands of T+L readers vote on their favorite hotels around the globe.

In addition to those award-winning properties, author Meagan Drillinger contributed her expertise, particularly with the selections for Mexico. She has spent the past 15 years covering Mexico and, in that time, has visited hundreds of resorts in the country. She also consulted colleagues and travel advisors and dug through hundreds of reviews. She focused on resorts with award-winning culinary programs, standout dining experiences, and Michelin recognition to make her selection.

And finally, as with all our hotel roundups, editors ensure all hotel recommendations we make align with our core T+L Hotel Values .

Related Articles

Press Releases

Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2021 Results

Related documents.

ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL), the world’s leading membership and leisure travel company, today reported fourth quarter and full-year 2021 financial results for the period ended December 31, 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220223005484/en/

Travel + Leisure Co. (NYSE:TNL) reports 4Q and FY 2021 results

Travel + Leisure Co. (NYSE:TNL) reports 4Q and FY 2021 results

Fourth quarter 2021 highlights :

  • Net income from continuing operations of $110 million (diluted EPS of $1.26) on net revenue of $870 million
  • Adjusted EBITDA of $228 million and adjusted diluted EPS of $1.19 (1)
  • Resumed stock repurchase program and increased dividend

Full-year 2021 highlights :

  • Net income from continuing operations of $313 million (diluted EPS of $3.58) on net revenue of $3.1 billion
  • Adjusted EBITDA of $778 million and adjusted diluted EPS of $3.65
  • Net cash provided by operating activities of $568 million and adjusted free cash flow of $223 million
  • First quarter 2022 adjusted EBITDA is expected to range from $160 million to $170 million
  • The Company will recommend a first quarter 2022 dividend of $0.40 per share for approval by the Board of Directors

“The continued recovery in leisure travel and business improvements made at the start of the pandemic helped us deliver full-year adjusted EBITDA and adjusted diluted EPS above our guidance range,” said Michael D. Brown, president and CEO of Travel + Leisure Co. “Based on our strong results in 2021 and optimism for the year ahead, we increased the dividend and resumed stock repurchases in the fourth quarter.”

“We anticipate that leisure travel will continue to lead the broader travel industry, which will support the 2025 growth plan announced at our Investor Day in September 2021.”

(1) This press release includes adjusted EBITDA, adjusted diluted EPS, adjusted free cash flow, gross VOI sales and adjusted net income/(loss), which are metrics that are not calculated in accordance with Generally Accepted Accounting Principles in the U.S. (“GAAP”). See "Presentation of Financial Information" and the tables for the definitions and reconciliations of these non-GAAP measures. Forward-looking non-GAAP measures are presented in this press release only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation is available without unreasonable effort.

Business Segment Results

The results of operations during the fourth quarter and full-year of 2021 and 2020 include impacts related to the COVID-19 global pandemic. Refer to Table 8 for a breakout of COVID-19 related impacts.

Vacation Ownership

Vacation Ownership revenue increased 37% to $695 million in the fourth quarter of 2021 compared to the same period in the prior year. Gross vacation ownership interest (VOI) sales were $432 million in the fourth quarter compared to $281 million in the prior year period and tours were 129,000 in the fourth quarter compared to 85,000 in the prior year period. Volume Per Guest (VPG) increased 10% to $3,222 due to strong close rates and higher quality tours in the fourth quarter compared to the prior year period.

Fourth quarter adjusted EBITDA was $182 million compared to $115 million in the prior year period. The increase was driven by higher Gross VOI sales due to the ongoing recovery of our operations from COVID-19 and improvement in the provision for loan losses.

Fourth quarter 2021 results include an adjustment to the COVID-19 related allowance for loan losses, resulting in a $44 million increase to revenue and a $16 million increase to cost of vacation ownership interests, and yielding a $28 million net positive impact to Adjusted EBITDA. Fourth quarter 2020 results also include an adjustment to the COVID-19 related allowance, resulting in a $20 million increase to revenue and a $7 million increase to cost of vacation ownership interests, yielding a $13 million net positive impact to Adjusted EBITDA.

Travel and Membership

Travel and Membership revenue increased 27% to $179 million in the fourth quarter driven by a 30% increase in transactions and 6% increase in revenue per transaction. Transactions grew year over year in every quarter of 2021 as we continue to recover from COVID-19 impacted levels.

Fourth quarter Adjusted EBITDA increased 28% to $64 million driven by higher revenue, partially offset by increased operational costs supporting the revenue increase.

Balance Sheet and Liquidity

Net Debt — As of December 31, 2021, the Company's leverage ratio for covenant purposes was 3.99x. The Company had $3.4 billion of corporate debt outstanding as of December 31, 2021, which excluded $1.9 billion of non-recourse debt related to its securitized notes receivables portfolio. Additionally, the Company had cash and cash equivalents of $369 million. At the end of the fourth quarter, the Company had $1.4 billion of liquidity in cash and cash equivalents and revolving credit facility availability.

The Company renewed its $1 billion revolving credit facility on October 22, 2021 and extended the term through October 2026. This renewal terminated the relief period and restrictions regarding share repurchases, dividends and acquisitions under the first amendment.

During the quarter, the Company issued $650 million senior secured notes due 2029 with an interest rate of 4.5% and paid off $650 million senior secured notes due March 2022. The Company's next long-term debt maturity is $400 million of secured notes due March 2023.

Timeshare Receivables Financing — The Company closed on a $350 million term securitization on October 26, 2021 with a weighted average coupon of 1.82% and a 98% advance rate.

Cash Flow — For the full-year 2021, net cash provided by operating activities was $568 million compared to $374 million in the prior year. Adjusted free cash flow was $223 million in 2021 compared to $35 million in the prior year.

Share Repurchases — The Company resumed share repurchase activity in the fourth quarter of 2021 and repurchased 0.5 million shares of common stock for $26 million at a weighted average price of $52.94 per share during the quarter.

Dividend — The Company paid $30 million ($0.35 per share) in cash dividends on December 30, 2021 to shareholders of record as of December 15, 2021. For the full-year 2021, Travel + Leisure Co. paid an aggregate $109 million in dividends to shareholders.

For the first quarter of 2022, the Company expects adjusted EBITDA to range from $160 million to $170 million.

This guidance is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of these adjustments that may arise in the future.

Conference Call Information

Travel + Leisure Co. will hold a conference call with investors to discuss the Company’s results and outlook today at 8:30 a.m. ET. Participants may listen to a simultaneous webcast of the conference call, which may be accessed through the Company's website at investor.travelandleisureco.com, or by dialing 866-831-8713, passcode TNL, 10 minutes before the scheduled start time. For those unable to listen to the live broadcast, an archive of the webcast will be available on the Company's website for 90 days beginning at 12:00 p.m. ET today. Additionally, a telephone replay will be available for four days beginning at 12:00 p.m. ET today at 800-753-0348.

Presentation of Financial Information

Financial information discussed in this press release includes non-GAAP measures such as adjusted EBITDA, adjusted diluted EPS, adjusted free cash flow, gross VOI sales and adjusted net income/(loss), which include or exclude certain items, as well as non-GAAP guidance. The Company utilizes non-GAAP measures, defined in Table 9, on a regular basis to assess performance of its reportable segments and allocate resources. These non-GAAP measures differ from reported GAAP results and are intended to illustrate what management believes are relevant period-over-period comparisons and are helpful to investors when considered with GAAP measures as an additional tool for further understanding and assessing the Company’s ongoing operating performance by adjusting for items which in our view do not necessarily reflect ongoing performance. Management also internally uses these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. Exclusion of items in the Company’s non-GAAP presentation should not be considered an inference that these items are unusual, infrequent or non-recurring. Full reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures for the reported periods appear in the financial tables section of the press release. See definitions on Table 9 for an explanation of our non-GAAP measures.

About Travel + Leisure Co.

Travel + Leisure Co. (NYSE:TNL) is the world’s leading membership and leisure travel company, with nearly 20 travel brands across its resort, travel club, and lifestyle portfolio. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company and subscription travel brands; and Travel + Leisure Group, featuring top travel content and travel services including the brand’s eponymous travel club. At Travel + Leisure Co., our global team of associates brings hospitality to millions each year, turning vacation inspiration into exceptional travel experiences. We put the world on vacation. Learn more at travelandleisureco.com.

Forward-Looking Statements

This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are any statements other than statements of historical fact, including statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the future. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “expects,” “should,” “believes,” “plans,” “anticipates,” “estimates,” “predicts,” “potential,” “continue,” “future” or other words of similar meaning. Forward-looking statements are subject to risks and uncertainties that could cause actual results of Travel + Leisure Co. and its subsidiaries (“Travel + Leisure Co.” or “we”) to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, risks associated with: the acquisition of the Travel + Leisure brand and the future prospects and plans for Travel + Leisure Co., including our ability to execute our strategies to grow our cornerstone timeshare and exchange businesses and expand into the broader leisure travel industry through new business extensions; our ability to compete in the highly competitive timeshare and leisure travel industries; uncertainties related to acquisitions, dispositions and other strategic transactions; the health of the travel industry and declines or disruptions caused by adverse economic conditions and unemployment rates, terrorism or acts of gun violence, political strife, war, pandemics, and severe weather events and other natural disasters; adverse changes in consumer travel and vacation patterns, consumer preferences and demand for our products; increased or unanticipated operating costs and other inherent business risks; our ability to comply with financial and restrictive covenants under our indebtedness and our ability to access capital markets on reasonable terms, at a reasonable cost or at all; maintaining the integrity of internal or customer data and protecting our systems from cyber-attacks; uncertainty with respect to the scope, impact and duration of the novel coronavirus global pandemic (“COVID-19”), including resurgences, the pace of recovery, distribution and adoption of vaccines and treatments, and actions in response to the evolving pandemic by governments, businesses and individuals; the timing and amount of future dividends and share repurchases, if any; and those other factors disclosed as risks under “Risk Factors” in documents we have filed with the SEC, including in Part I, Item 1A of our Annual Report on Form 10-K most recently filed with the SEC. We caution readers that any such statements are based on currently available operational, financial and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management’s opinion only as of the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.

Travel + Leisure Co. Table of Contents

Table Number

  • Consolidated Statements of Income/(Loss) (Unaudited)
  • Summary Data Sheet
  • Operating Statistics
  • Revenue by Reportable Segment
  • Non-GAAP Measure: Reconciliation of Net Income/(Loss) to Adjusted Net Income/(Loss) to Adjusted EBITDA
  • Non-GAAP Measure: Reconciliation of Net VOI Sales to Gross VOI Sales
  • Non-GAAP Measure: Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow
  • COVID-19 Related Impacts
  • Definitions

Amounts may not calculate due to rounding. The table above reconciles certain non-GAAP financial measures to their closest GAAP measure. The presentation of these adjustments is intended to permit the comparison of particular adjustments as they appear in the income statement in order to assist investors' understanding of the overall impact of such adjustments. In addition to GAAP financial measures, the Company provides adjusted net income/(loss), adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS to assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods, by adjusting for certain items which in our view do not necessarily reflect ongoing performance. We also internally use these measures to assess our operating performance, both absolutely and in comparison to other companies, and in evaluating or making selected compensation decisions. These supplemental disclosures are in addition to GAAP reported measures. Non-GAAP measures should not be considered a substitute for, nor superior to, financial results and measures determined or calculated in accordance with GAAP. Our presentation of adjusted measures may not be comparable to similarly-titled measures used by other companies. See "Presentation of Financial Information" and table 9 for the definitions of these non-GAAP measures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223005484/en/

Investors: Christopher Agnew Senior Vice President, FP&A and Investor Relations (407) 626-4050 [email protected] Media: Steven Goldsmith Corporate Communications (407) 626-5882 [email protected]

Source: Travel + Leisure Co.

Released February 23, 2022

Press Contacts

Contact our media contacts regarding any press related questions or needs.

travel and leisure quarterly report

TSA intercepted more than 3,200 guns at checkpoints this year: Here’s how many were found in Nashville

N ASHVILLE, Tenn. (WKRN) — A new report reveals the Transportation Security Administration (TSA) found 3,269 guns at airport checkpoints nationwide just in the first quarter of 2024.

The finding comes after several busy travel periods that were seen across the country this year. In fact, the agency said they screened nearly 3 million travelers on July 7, which broke the record for the number of people screened in a single day.

However, thousands of passengers were found to be breaking the law this year by bringing firearms in their carry-ons.

The TSA said anytime a gun is detected at an airport, it poses a big threat to the safety of frontline workers and travelers.

At airports across the country, the number of firearms that have been discovered in the first half of the year is about even with last year. However, the passenger volume has gone up 7%.

Just six months into 2024, the TSA reported they intercepted more than 3,000 firearms at security checkpoints nationwide, marking an average of 19 firearms detected each day; more than 94% were loaded.

As for Nashville International Airport, officials have come across a total of 99 guns so far this year — 93 of which were loaded, according to a TSA spokesperson.

Officials said it’s important to note that the TSA does not confiscate or seize firearms. In fact, if you bring a gun to a security checkpoint, law enforcement will safely unload it and take possession of it.

“During a period of record-breaking travel volumes, our officers are working hard to keep our transportation systems secure and the traveling public safe, and any time they detect a firearm, there is a real safety concern for frontline employees and travelers,” said TSA Administrator David Pekoske. “If you carry a firearm, you are required to place it unloaded and locked in a hard-sided case in your checked bag and declare it to the airline when checking in at the airline ticket counter. Do not bring it to the checkpoint. It is costly and delays you and everyone else traveling in the same lane with you.”

⏩  Read today’s top stories on wkrn.com

Offenders may face civil penalties from the TSA, with  fines as high as $14,950 or more for repeat offenders.  

For more information on how to properly travel with a firearm, visit the  Transporting Firearms and Ammunition  page on TSA.gov.

For the latest news, weather, sports, and streaming video, head to WKRN News 2.

TSA intercepted more than 3,200 guns at checkpoints this year: Here’s how many were found in Nashville

Accelerating the transition to net-zero travel

travel and leisure quarterly report

The worsening effects of climate change have made decarbonization a top priority for many industries, including global travel and tourism, which accounts for between 8 and 11 percent of the world’s emissions. 1 A net zero roadmap for travel & tourism: Proposing a new target framework for the travel & tourism sector , World Travel & Tourism Council, November 2021. If nothing is done, the sector’s carbon emissions will only rise as it grows. Travel activity is expected to soar by 85 percent from 2016 to 2030. 2 “Tourism’s carbon emissions measured in landmark report launched at COP25,” UNWTO, December 4, 2019.

As more consumers, employees, regulators, and investors consider reducing their trips, they are also ramping up the pressure for the sector to reduce its carbon emissions. In response, more travel companies have pledged to reach net zero. But obstacles stand in the way. The range of decarbonization technologies in the market is limited, and what’s available is expensive.

About the authors

This article is a collaborative effort by Danielle Bozarth , Olivier Cheret, Vik Krishnan , Mackenzie Murphy, and Jules Seeley , representing views from McKinsey’s Travel, Logistics & Infrastructure practice.

While demand reduction may be part of the answer, there are many practical steps travel companies can take right now to accelerate their journey toward greater sustainability—and potentially create value while doing so. McKinsey and Skift Research have put together a report exploring four high-priority areas for travel companies to focus their decarbonization efforts to catalyze the most meaningful outcomes for the environment, their customers, and themselves. This article provides a summary of the report’s key insights.

Identify and sequence decarbonization initiatives

Being familiar with the relevant decarbonization levers for your business is a good start, but it’s not enough. Many travel companies struggle with implementation and balancing tradeoffs. A robust plan factoring in various potential pathways is critical for success in a quest as complex as deep decarbonization.

The marginal abatement cost curve (MACC) pathway framework provides a cost-benefit analysis of the individual levers and phasing plans, helping companies identify strategic tradeoffs between the various implementation pathways over time. Companies can use the framework as a tool to validate climate-related targets and time their decarbonization initiatives. By assessing the feasibility and tradeoffs between multiple potential paths, companies could be better equipped to select the most appropriate pathway for them to reach their net-zero goals.

Would you like to learn more about our Travel, Logistics & Infrastructure Practice ?

Partner to accelerate decarbonization of business travel.

Business travel represents 30 percent of all travel spend, making it an important segment for travel companies. 3 Getting back to business: Navigating the safe return of meetings and their role in economic recovery , US Travel Association, November 2020. As more organizations—businesses and non-profits alike—set more ambitious emissions-reduction goals for themselves, they’ll almost certainly be reevaluating their travel habits. This opens up opportunities for travel companies to enter into robust decarbonization partnerships with their corporate clients.

The top 100 highest-spending organizations of business air travel spent around $12 billion on domestic and international bookings in the US in 2019. Forty-five of them—together accounting for around half of this business air travel spend—have not only made public decarbonization declarations, but have also committed to a target year of 2030 or before.

These organizations would be eagerly seeking out ways to reduce their emissions and are likely to be more receptive to enter into decarbonization agreements with travel companies. To help organizations that travel achieve their net-zero goals, travel companies could expand their range of sustainability-focused product and service offerings. As examples, car rental companies could encourage clients to pay for electric vehicles, while hotels may command a premium for corporate packages that promote low-carbon and sustainable practices.

Travel companies could also devise other ways to support these organizations in their transition toward greater sustainability. These could include designing booking platforms to nudge users to make more sustainable choices while making reservations, helping employees track their emissions, and providing greater data transparency for organizations to accurately measure their carbon emissions from corporate travel.

Close the “say-do” gap among leisure travelers

Studies suggest that leisure travelers—who generate 70 percent of all travel revenues—are also supportive of decarbonization. 4 Getting back to business: Navigating the safe return of meetings and their role in economic recovery , US Travel Association, November 2020. A recent McKinsey survey indicates that 40 percent of travelers globally say they are willing to pay at least two percent more for carbon-neutral flight tickets.

However, Skift’s latest consumer survey has exposed a “say-do” gap; only 14 percent of travelers state that they actually paid more for sustainable options when they travel. 5 Mishal Ahmad, Frederik Franz, Tomas Nauclér, and Daniel Riefer, “ Opportunities for industry leaders as new travelers take to the skies ,” McKinsey, April 5, 2022; “US travel tracker survey,” Skift Research, August 2022. There are a number of reasons for this "say-do" gap, including a lack of clear sustainability-related information, a scarcity of sustainable booking options, and high cost barriers. Many customers also struggle with balancing competing priorities when purchasing a travel service or product.

Travel companies can bridge this gap and help consumers choose more sustainable actions by focusing on three levers: offering more sustainability-focused travel products and services visibly within the booking journey, presenting decarbonization information in compelling ways to engage and resonate with customers, and using behavioral science techniques to encourage leisure travelers to make sustainable purchase decisions (for instance by actively promoting the most environmentally friendly options first).

A methodical approach is necessary to execute these initiatives while keeping the booking journey seamless for the customer. A dedicated task force armed with digital capabilities, consumer insights, and sustainability expertise could be set up to test and refine these changes for smaller sample groups in each customer segment before implementation is scaled up.

Rebooting customer experience to bring back the magic of travel

Rebooting customer experience to bring back the magic of travel

Build new sustainable travel options for the future.

Instead of reacting to the latest developments in the transition toward net zero, the travel sector can be a proactive force and pioneer sustainable products and services. Not only will doing so reduce the industry’s carbon emissions, but it will also enable individual travel companies to create new sources of revenue that could be redirected to other green business opportunities.

There are as many possibilities as there are types of travel companies. An airline may consider playing a more active role in the sustainable aviation fuel (SAF) value chain, perhaps by investing in production plants to increase the supply of alternative fuels or launching a green airline that deploys smaller alternative propulsion aircraft. Hotel and lodging companies can launch green hotels or brands, applying the latest design approaches and green technologies. Larger and more established travel agencies and booking platforms could provide standardized environmental, social, and governance (ESG) measurement services to smaller travel companies that lack such capabilities or brands focused on green travel. Finally, credit card companies could partner with airlines and hotels to offer customers a consolidated view of their emissions across travel providers, giving them additional rewards when they choose more sustainable options.

Launching these new businesses will likely require companies to create special initiatives outside of the current core of the business. The teams leading them will need to be empowered to experiment with and learn from short iterations and pilots without the pressure to be immediately profitable. Fortunately, the first examples of travel companies applying green business-building principles show promising results, which should pave the way for others to follow suit.

The full report concludes by offering a checklist for travel companies to track their readiness in each of the four strategies and to maximize their chances for a successful—and profitable—journey to net zero. Companies that act now could gain a competitive advantage over their peers, while those that stand by and wait may find their value proposition erode as they get left behind.

Download the full report

Danielle Bozarth is a senior partner in McKinsey’s New York office, Olivier Chéret is a senior expert in the Montreal office, Vik Krishnan is a partner in the San Francisco office, Mackenzie Murphy is a consultant in the Seattle office, and Jules Seeley is a senior partner in the Boston office.

The authors wish to thank Seth Borko, Wouter Geerts, Melissa Lukasiewicz, and Haixia Wang for their contributions to the report.

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Rebooting customer experience to bring back the magic of travel

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Travel+leisure co (tnl) q1 2024 earnings: surpasses analyst estimates with strong revenue and ....

Revenue: Reported at $916 million, surpassing the estimated $906.16 million.

Net Income: Achieved $66 million, exceeding the forecast of $62.31 million.

Earnings Per Share (EPS): Recorded at $0.92, surpassing the estimated $0.86.

Adjusted EBITDA: Reported at $191 million for the quarter.

Dividend: Paid a dividend of $0.50 per share, with plans to recommend the same for the next quarter.

Share Repurchases: Repurchased 0.6 million shares for $25 million at an average price of $40.07 per share.

Cash Flow: Net cash provided by operating activities was $47 million, significantly higher than the previous year's $7 million.

Warning! GuruFocus has detected 6 Warning Sign with TNL.

On April 24, 2024, Travel+Leisure Co ( NYSE:TNL ), a leading global membership and leisure travel company, announced its financial results for the first quarter ended March 31, 2024. The company reported a net income of $66 million and diluted earnings per share (EPS) of $0.92, on net revenue of $916 million, surpassing analyst expectations which had forecasted an EPS of $0.86 and revenue of $906.16 million. The detailed earnings report is available in the company's 8-K filing .

Company Overview

Travel+Leisure Co operates primarily through two segments: Vacation Ownership and Travel and Membership. The Vacation Ownership segment, which is the main revenue driver, saw a revenue increase of 6% to $725 million in Q1 2024 compared to the same period last year. This segment focuses on developing, marketing, and selling vacation ownership interests (VOIs) and providing consumer financing and property management services at resorts. The Travel and Membership segment, however, experienced a slight revenue decline of 4% to $193 million, attributed to a decrease in transactions despite a marginal increase in revenue per transaction.

Financial Performance and Market Challenges

The company's robust performance in the Vacation Ownership segment was highlighted by a 9% increase in Net VOI sales to $369 million. This growth was supported by an impressive 15% increase in tours and a 28% growth in new owner tours. Despite these gains, the segment faced challenges such as a 6% decrease in Volume Per Guest (VPG) due to a higher mix of new owner tours, which typically yield lower VPG. Adjusted EBITDA for this segment grew by 3% to $135 million.

On the liquidity front, Travel+Leisure Co reported a strong position with $479 million in cash and cash equivalents and a total liquidity of $1.2 billion as of March 31, 2024. The company's leverage ratio stood at 3.5x, maintaining a stable financial structure.

Strategic Initiatives and Outlook

President and CEO Michael D. Brown expressed confidence in the company's strategic direction, highlighting the growth in tours and volume per guest. He noted the company's readiness for a strong summer travel season and reaffirmed the full-year adjusted EBITDA guidance of $910 million to $930 million. The company also plans to continue its shareholder return programs, with $25 million spent on share repurchases and a consistent quarterly dividend of $0.50 per share.

Investment and Future Growth

Travel+Leisure Co's commitment to enhancing shareholder value and its strategic initiatives to capitalize on the growing travel and leisure market position it well for future growth. The company's performance this quarter reflects its effective management and operational efficiency, making it a noteworthy consideration for investors interested in the travel and leisure sector.

For detailed financial tables and further information on the company's performance, readers are encouraged to view the full earnings release.

Travel+Leisure Co's first-quarter results demonstrate a solid start to 2024, with performance metrics exceeding analyst expectations and strategic initiatives set to drive future growth. The company's robust financial health and proactive management strategies provide a strong foundation for continued success in the competitive travel and leisure industry.

Explore the complete 8-K earnings release ( here ) from Travel+Leisure Co for further details.

This article first appeared on GuruFocus .

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  4. Travel + Leisure Co. Reports Fourth Quarter And Full-Year 2022 Results

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COMMENTS

  1. Financial Results :: Travel + Leisure Co. (TNL)

    Fiscal Year Ended Dec 31, 2022. Earnings Release. HTML PDF

  2. Financial Information :: Travel + Leisure Co. (TNL)

    Quarter Highlights. Net income of $66 million (diluted EPS of $0.92) on net revenue of $916 million. Adjusted EBITDA of $191 million and Adjusted diluted EPS of $0.97. 15% increase in tours and 28% increase in new owner tours. VPG of $3,035, above the high end of our guidance range.

  3. Quarterly Reports :: Travel + Leisure Co. (TNL)

    Travel + Leisure Logo. Home; About Us. Mission + Values; History; Executive Team; Board of Directors; Suppliers; Contact; Our Brands; ESG Commitment. Executive Overview; Inclusion and Diversity; ... Quarterly report pursuant to Section 13 or 15(d) Documents expand_more. EX-10.1 EX-15 EX-31.1 EX-31.2 EX-32.

  4. Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2023 Results

    Vacation Ownership revenue increased 5% to $776 million in the fourth quarter of 2023 compared to the same period in the prior year. Net vacation ownership interest (VOI) sales were $410 million in the fourth quarter compared to $384 million in the prior year period, and Gross VOI sales were $540 million compared to $521 million in the prior year.

  5. PDF Travel + Leisure Co

    ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ... TRAVEL + LEISURE CO. (Exact Name of Registrant as Specified in Its Charter) Delaware 20-0052541 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) 6277 Sea ...

  6. PDF Travel + Leisure Co

    We file annual, quarterly and current reports, proxy statements, reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, ... Travel + Leisure Co. is the world's leading membership and leisure travel company, with nearly 20 travel brands across our resort, travel club, and lifestyle ...

  7. Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2023 Results

    ORLANDO, Fla., February 21, 2024--Travel + Leisure Co. (NYSE:TNL) today reported fourth quarter and full-year 2023 financial results for the period ended December 31, 2023.

  8. Travel Leisure Co. (TNL) 10K Annual Reports & 10Q SEC Filings

    Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2023 Results and Provides 2024 Outlook ORLANDO, Fla. (February 21, 2024) — Travel + Leisure Co. (NYSE:TNL), the world's leading membership and leisure travel company, today reported fourth quarter and full-year 2023 financial results for the period ended December 31, 2023.

  9. Travel+Leisure Co (TNL) Reports Solid Earnings Growth and Strong Cash

    On February 21, 2024, Travel+Leisure Co , a global leader in membership and leisure travel, released its 8-K filing, detailing its financial results for the fourth quarter and full year of 2023 ...

  10. Travel + Leisure Co. Reports First Quarter 2022 Results and Provides

    Travel + Leisure Co., the world's leading membership and leisure travel company, reported Q1 2022 financial results for the 3 months ended March 31. ... Travel + Leisure Co. Reports First ...

  11. Travel Leisure Co. (TNL) 10-Q Quarterly Report July 2022

    Travel + Leisure Co. Reports Second Quarter 2022 Results ORLANDO, Fla. (July 28, 2022) — Travel + Leisure Co. (NYSE:TNL), the world's leading membership and leisure travel company, today reported second quarter 2022 financial results for the three months ended June 30, 2022.

  12. Travel + Leisure Co. to Report Second Quarter 2024 Financial Results on

    ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) announced today it will release second quarter 2024 financial results on Wednesday, July 24, 2024, before the market opens, followed ...

  13. Travel + Leisure Co. to Report Fourth Quarter and Full-Year 2023

    ORLANDO, Fla., January 17, 2024--Travel + Leisure Co. announced it will release Q4 and full-year 2023 financial results on Feb 21, 2024, followed by a conference call at 8:30 a.m.

  14. Annual Reports :: Travel + Leisure Co. (TNL)

    Travel + Leisure Logo. Home; About Us. Mission + Values; History; Executive Team; Board of Directors; Suppliers; Contact; Our Brands; ESG Commitment. Executive Overview; ... Quarterly Reports; Section 16 Filings; Filing Type: Year: Date Form Description PDF XBRL; 02/21/24: 10-K: Annual report pursuant to Section 13 and 15(d) Documents expand ...

  15. Travel + Leisure Co. Reports First Quarter 2024 Results

    6 %. Travel and Membership revenue decreased 4% to $193 million in the first quarter of 2024 compared to the same period in the prior year. This was driven by a 6% decrease in transactions offset ...

  16. Travel + Leisure Co. to Report First Quarter Financial Results on April

    ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL) announced today it will release first quarter 2021 financial results on Wednesday, April 28, 2021, before market open, followed by a conference call at 8:30 a.m. ET. Michael D. Brown, president and CEO, and Mike Hug, CFO, will discuss the Company's financial performance and business outlook.

  17. Travel + Leisure (TNL) Earnings Date and Reports 2024

    Earnings for Travel + Leisure are expected to grow by 12.30% in the coming year, from $5.53 to $6.21 per share. Travel + Leisure has confirmed that its next quarterly earnings report will be published on Wednesday, July 24th, 2024. Travel + Leisure will be holding an earnings conference call on Wednesday, July 24th at 8:30 AM Eastern.

  18. Travel + Leisure: Despite Mixed Results, Significant Recurrent Revenue

    The global leisure travel market size was valued at $1,006.5 billion in 2019, and is projected to reach $1,737.3 billion by 2027, registering a CAGR of 22.6% from 2021 to 2027. Source: Analysis ...

  19. Travel + Leisure Co. (TNL) Beats Q3 Earnings and Revenue Estimates

    Travel + Leisure Co. (TNL) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.28 per share a year ago.

  20. Travel + Leisure Co. (TNL) Surpasses Q1 Earnings and Revenue Estimates

    Travel + Leisure Co. (TNL) delivered earnings and revenue surprises of 12.66% and 4.72%, respectively, for the quarter ended March 2023. ... This quarterly report represents an earnings surprise ...

  21. Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2022 Results

    Vacation Ownership revenue increased 5% to $737 million in the fourth quarter of 2022 compared to the same period in the prior year. In the fourth quarter, Gross VOI sales were $521 million compared to $432 million in the prior year period and tours were 147,000 in the fourth quarter compared to 129,000 in the same period last year.

  22. Travel & Leisure readers pick their No. 1 resort in the U.S. It's in

    Travel and Leisure's article announcing the top resorts is headlined, "The Resort Voted Best in the Continental U.S. Overlooks an Underrated California Beach and Has a Michelin-star Mexican Restaurant." It describes the resort on N. Myers Street, as "a place you never really need to leave to have a good time.

  23. Travel + Leisure Names Best Cruise Lines for 2024

    Along with the best hotels, airlines, cities, and rental companies, Travel + Leisure readers also voted for the favorite cruise lines. Readers rated ships - in several categories - based on ...

  24. 11 Best All-inclusive Resorts for Foodies

    There isn't much Grand Velas Riviera Nayarit can't do. As one of the few actual five-star luxury all-inclusive resorts in the Puerto Vallarta area, this 267-suite property has been a Travel ...

  25. Travel + Leisure Co. Reports Fourth Quarter and Full-Year 2021 Results

    Vacation Ownership revenue increased 37% to $695 million in the fourth quarter of 2021 compared to the same period in the prior year. Gross vacation ownership interest (VOI) sales were $432 million in the fourth quarter compared to $281 million in the prior year period and tours were 129,000 in the fourth quarter compared to 85,000 in the prior year period.

  26. Travel + Leisure Co. Reports First Quarter 2024 Results

    ORLANDO, Fla., April 24, 2024--Travel + Leisure Co. today reported first quarter 2024 financial results for the three months ended March 31, 2024.

  27. TSA intercepted more than 3,200 guns at checkpoints this year ...

    NASHVILLE, Tenn. (WKRN) — A new report reveals the Transportation Security Administration (TSA) found 3,269 guns at airport checkpoints nationwide just in the first quarter of 2024. The finding ...

  28. Accelerating the transition to net-zero travel

    Close the "say-do" gap among leisure travelers. Studies suggest that leisure travelers—who generate 70 percent of all travel revenues—are also supportive of decarbonization. 4 Getting back to business: Navigating the safe return of meetings and their role in economic recovery, US Travel Association, November 2020.

  29. Travel+Leisure Co (TNL) Q1 2024 Earnings: Surpasses Analyst Estimates

    On April 24, 2024, Travel+Leisure Co , a leading global membership and leisure travel company, announced its financial results for the first quarter ended March 31, 2024. The company reported a ...